Elastomers Market Overview | Product Type |on Growth Insights and Future Forecast to 2027

 Market Synopsis

According to the MRFR analysis, the Global Elastomers Market overview is expected to reach over ~USD 107.1 Billion by the end of 2025 at a CAGR of ~4.8%.

Elastomers are amorphous polymers exhibiting characteristics of rubber in terms of flexibility and elasticity. Various elastomeric products on the account of their high abrasion and heat resistance are used in numerous industrial applications. For instance, TPUs offer excellent mechanical strength and low creep thus are used to manufacture conveyor belts. The rising demand for high-performance elastomers in the automotive and medical industries are the key factors favoring the growth of the elastomers market.

Pricing and Regulatory Analysis

In 2018, the price of elastomers increased from USD 0.19 to USD 0.40 between 2016 and 2018 and is likely to observe a gradual upsurge during the forecast period owing to fluctuating raw material and crude oil prices.

The stringent standards for elastomer analysis may favor the demand for elastomers during the review period. Some of the standards are American Society for Testing and Materials - ASTM D412, ASTM D624, ASTM D3182 ”and International Standard - ISO 34-1:2015.

SEGMENTATION

By Type

  • Thermoset Elastomers: These polymers belong to the     group of elastomers that cannot be molded once they have been cured. Thus,     on the account of their structural integrity thermoset elastomers are     widely used in high-temperature applications.
  • Synthetic Rubber: The segment held the largest     market share in 2018 on account of its excellent strength and flexibility.     These elastomers are artificially synthesized and derived from     petroleum-based monomers.
  • Styrene-Butadiene Rubber (SBR): On account of its     good abrasion and elasticity, it is widely used in pneumatic tires. SBR on     reinforcement exhibits higher strength and durability.
  • Isobutylene-Isoprene Rubber (IIR): Owing to its low     gas permeability and high resistance finds applications in inner tires of     cars, bicycles and other high-pressure tubes.
  • Nitrile rubber (NBR): It is used in the     applications that demand oil and heat resistance. Modified nitrile rubber     such as carboxylated nitrile rubbers (XNBR) and hydrogenated nitrile     rubbers (HNBR) exhibit high tensile strength and weather resistance.
  • Polybutadiene (PBR): It is extensively used in     various parts of automobile tires including sidewall of truck tires and     heavy vehicles for abrasion resistance.
  • Others: The segment includes acrylic rubber (ACM)     and ethylene-propylene rubber (EPM), among others.
  • Natural Rubber: It is a bio-based elastomer     obtained from the rubber trees. It is commonly known as Natural Rubber     Latex (NBL) and find wide applications in friction tapes, cement, and     adhesives. However, the natural rubber is usually vulcanized to enhance     the chemical properties.
  • Thermoplastic Elastomers: It is projected to be the     fastest-growing segment during the forecast period due to significant     advantages over conventional thermosetting elastomers. These elastomers     are recyclable and are capable of being remolded.
  • Thermoplastic Polyurethane (TPU): On account of     excellent flexibility over a wide temperature range and high abrasion     resistance, it is extensively used in a foray of industrial applications     such as seals and gaskets, sealants, andconveyor belts.
  • Thermoplastic Styrenic elastomers (TPS): They are     styrene block copolymers with excellent flexibility and elasticity and     commonly used in footwear, belts, and adhesives.
  • Others: The segment includes thermoplastics      polyester-ether elastomer (TPE-E) and thermoplastic polyamide elastomers      (TPE-A), among others.

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By End-Use Industry

  • Automotive: The automotive segment accounted for     more than 62% market share in 2018. This is primarily due to the increased     use of elastomers in various applications such as airbags, tires, gaskets,     bumpers, and HVAC systems. In the automotive industry, the demand for     elastomers in interior applications is expected to increase at a     significant rate during the forecast period.
  • Medical: It is projected to be the fastest-growing     segment during the review period. The increasing use of elastomers on     account of hydrolytic stability and ease of sterilization in variety of     applications such as peristaltic pump catheters, needleless syringes, and     valves is fueling the demand for elastomers in the medical industry.     Additionally, the rising innovations to develop bio-based elastomers     offers a wide range of opportunities to produce artificially synthesized     biocompatible organs.
  • Electronics: A variety of elastomers exhibit low     electrical conductivity and thus are suitable for insulation purposes. For     instance, ethylene-propylene rubber is used to insulate indoor and outdoor     high voltage cables.
  • Textiles: Elastomeric fabrics on the account of their     lightweight and stretchability are used in a variety of garments including     cycling shorts, swimsuits, and athletic wear.
  • Others: The segment includes aerospace &     defense, oil & gas, and construction.

By Region

  • Asia-Pacific: The regional market held a dominant     share in 2018 and is expected to maintain its dominance during the review     period. The increasing disposable income coupled with expanding automotive     and textile industries in the region are fueling the regional market     growth.
  • North America: The market growth is driven by the     demand for high-performance elastomers in the aerospace and medical     industries.
  • Europe: A firm market owing to the demand for     elastomers in the automotive industry. Additionally, the rising automobile     exports from the region is aiding market growth.
  • Latin America: The growing healthcare and     electronics industries is driving the demand for elastomers in Latin     America.
  • Middle East & Africa: The expanding automotive     industry and rising constructional activities in the region are     contributing to the regional market growth.

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