Elastomers Market size is forecast to reach $ 78,699.56 million by 2025, after growing at a CAGR of 5.33% during 2020-2025. Elastomers, due to their extensive properties, such as high thermal stability, greater chemical resistance, high tensile strength, low shrinkage, and greater design flexibility, are used in a wide range of applications, in various industries including automotive, medical, consumer goods, industrial, and others. Rising demand from key application areas, combined with advances in processing technologies, is expected to fuel market growth during the forecast period. Elastomers are witnessing high demand from the automotive industry on account of rising need for high-performance and lightweight materials in vehicle production. Furthermore, the usage of recycled elastomers is likely to provide various opportunity for the elastomer market in the coming years.
Raw Material - Segment Analysis
The thermoset elastomer segment held the largest share in the elastomers market in 2019. Thermoset Elastomer offers high thermal stability, well-defined microphase-separated morphology, superior and tunable mechanical strength, and controlled hydrolytic degradability were systematically investigated, when compared to those of the triblock prepolymers. The hard domain crosslinked thermoset elastomers with tunable mechanical strength and degradation capability can be practical candidates for sustainable elastomers to satisfy distinct and high-performance applications. They are cost-effective materials and offer excellent aesthetic appearance and aid in improving the mechanical properties of materials by enhancing the structural integrity as well as heat and chemical resistance.
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End User - Segment Analysis
The automotive segment held the largest share in the elastomer market in 2019 and is growing at a CAGR of 4.64% in terms of revenue from 2020 to 2025. The market for elastomers in the automotive industry is mainly driven by its excellent physical properties, such as durability, impact resistance, low weight, elasticity, softness, strength, superior optics, enhanced thermal resistance, thermal stability, adhesive properties and improved vehicle safety. Therefore, elastomer is used in wide range of applications in the automotive industry including door handles, automotive gaskets, rocker panels, dashboards, seating fabrics, vibration damping pads, rear windows, bumpers, gear knobs, interiors, wipers, body seals, exterior filler panels and tyre. Being a lightweight material, the elastomer decreases the weight of the vehicle, which in turn adds to the fuel efficiency of the vehicle. As a result, the demand for elastomers in the automotive industry to replace traditional metals is increasing.
Automotive Vehicle Type - Segment Analysis
Passenger vehicle segment held the largest share in the elastomer market in 2019. The global demand for passenger vehicles is seeing tremendous growth in the crossover category, as they provide a better value for money compared to sedans and SUVs. In 2018, around 70 million cars were sold in the top 54 world markets according to OICA. SUVs were popular worldwide and electric car sales grew by 75% according to JATO Dynamics Ltd. Moreover, the growth of passenger cars were supported by high sales and strong demand in India, Brazil, Russia and South East Asia offset stalling sales in Europe, China and the US.
Geography - Segment Analysis
Asia Pacific held the largest share in the Elastomers market in 2019, up to 61%, owning to rising automotive production in countries such as India, Malaysia and others, as more than half of elastomer is used in manufacturing tires. Government investment, liberalization policies coupled with private players focusing on technology enhancement are expected to fuel the demand. Furthermore, rising replacement of ethylene propylene diene monomer by TPE in construction equipment is likely to fuel the product market. Major automotive OEMs are shifting their production bases to these markets due to low operational costs and escalating demand for passenger cars. This factor is expected to drive the product demand over the coming years.
Drivers – Elastomers Market
Rapidly expanding market of footwear in the emerging countries is anticipated to propel the demand for elastomers
Elastomers are extensively used by the footwear industry in order to produce soles which can be molded as units or directly on the shoe. Polyurethanes are used in footwear to provide high abrasion-resistance which are suitable for hardwearing shoe soles, with excellent long-term mechanical properties. Elastomers find there use in a broad spectrum of footwear types from sports and trekking boots to business and fashion shoe soles, without hampering the design potential. Many major manufacturing companies are producing elastomers for the usage in footwear. For instance, BASF has been developing, producing, and selling custom-tailored polyurethane systems and thermoplastic polyurethane elastomers (TPU) for making all types of soles. Footwear, including ski boots and soccer shoes, often contain a substantial fraction of TPE. Athletic shoe soles are an especially large application for TPEs. Athletic equipment, such as skis and golf ball covers, is another area where TPEs are used. According to World Footwear Yearbook, global footwear production and exports grew by 2.7% and 4.3% respectively in 2018, compared to the previous year. Footwear production worldwide reached 24.2 billion pairs in 2018, having grown by 2.7% over the previous year. In terms of its geographical distribution, production continues to be heavily concentrated in Asia, where almost 9 out of each 10 pairs of shoes are manufactured. Global footwear exports increased for the second consecutive year in 2018, setting a new all-time maximum of 142 billion dollars. Hence growing footwear industry is expected to drive the elastomers market as elastomers are widely used in the shoe soles.
Increasing usage of elastomers and continuous developments with regards to polyurethane production in developing regions is expected to drive the elastomers market
Continued inputs by the government in terms of investments in polyurethane production and support by way of encouraging regulations is likely to contribute towards growth of the market. APAC is the established markets for elastomers, both in terms of production as well as consumption owing to the rapid industrialization in countries like China and India. Europe and America are emerging markets for elastomers. In the European region, Germany and France are the largest markets for elastomers. Germany is the largest manufacturing hub for machinery manufacturing; this is one of the reasons for high consumption of Elastomers in the country. In August 2018, Trelleborg Sealing Solutions launched a new custom elastomer, designed especially for HTHP wellhead tubing and hanger sealing applications. In April 2016, Lanxess entered into a joint venture with Saudi Aramco (Saudi Arabia) to form Arlanxeo for production of elastomer and synthetic rubber to increase its product portfolio. As a result of this joint venture, Lanxess Ag is a foremost supplier of synthetic rubber. The industry participants are undergoing extensive research & development activities to develop newer blends and effective processing methodologies to gain competitive strength. This is expected to drive the elastomers market
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Challenges – Elastomers Market
The volatility in crude oil prices, causing fluctuations in prices of synthetic rubber
Prices of crude oil and synthetic rubber have moved in tandem as synthetic rubber is produced from crude oil. However, it has severely affected the prices of natural rubber, being the substitute product of synthetic rubber. The price of synthetic rubber naturally firms up when the crude oil price rises. The impact of COVID-19 and the oil prices war are proving to be a two-pronged crisis for oil, gas, and chemicals companies. Oil prices are dropping due to failed agreements on production cuts and the need for chemicals and refined products is slowing from industrial slow-downs and travel restrictions in the wake of this global pandemic. Hence, fluctuations in crude oil is a major challenge pertaining to the growth of elastomers industry owing to the fact that petrochemicals (derivative of crude oil) act as a key raw material for synthetic rubber. Therefore, crude oil price movements do have a significant impact on synthetic rubber prices and also affect its consumption pattern.
Disposal of elastomers propels environmental concerns, due to the emission of hazardous waste
Disposal of elastomers proves to be one of the major concerns for the environmental agencies, as the disposal emits a lot of hazardous compounds into the environment. Recycling options for elastomers are limited and are possible only in the case of uncured elastomers, while most of them are cured. Disposal of these materials can be done either through incineration or through landfills, either of which would create environmental hazard. Burning of elastomers results in emissions of carbon monoxide and hydrogen cyanide, both of which are harmful for the environment.
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Elastomers Market. In 2019, the top five players in the elastomers market accounted for 11% of the total share. Major players in the Elastomers market are BASF SE, JSR Corporation, Zeon Corporation, Celanese Corporation, PJSC Nizhnekamskneftekhim, E.I. DuPont De Nemours and Company, Wanhua Chemical Group Co., Ltd, Lanxess AG, among others.
Acquisitions/Technology Launches
In September 2019, JSR Corporation launched a new styrene-butadiene copolymer rubber (SBR) for car tires with new SBR features significantly improved mechanical strength, wear resistance and durability to improve fuel efficiency for CO2 emission reduction.
In August 2018, Zeon Corporation in joint research with RIKEN and Yokohama Rubber Co., Ltd., developed a new technology for the effective and stable production of isoprene monomers (isoprene) from biomass (biotic resources) which is used mainly in automotive tires.
In October 2018, Dow Company introduced new elastomer product range SILASTIC™ which showcases full range reliability, security and esthetics of silicone elastomers for automotive, industrial, energy and mobility applications on display at the Fakuma International Plastics Manufacturing Trade Fair.
Key Takeaways
Asia-Pacific dominates the global elastomers market, owing to increasing automotive production in the region. According to OICA, the production of light commercial vehicles has increased by 10.2 % in 2018 in the APAC region.
Elastomers demand in consumer goods market is increasing continuously owning to its excellent physical properties, such as high flexibility, low weight, good printability, enormously robust, excellent temperature resistance, high surface quality, high impact strength, and so on. Therefore, elastomers are used in wide range of applications in consumer goods, which includes closures, toys, kitchenware, food containers, handles, cosmetic packaging, lids, furniture, sporting goods, and household goods.
However, operations in various industries such as automotive, electronics and others is being significantly affected due to the COVID-19 epidemic, as most of countries have issued “stay at home guidance” i.e., lockdown. And it is expected that the outbreak of COVID-19 will be seen in the whole year of 2020, and a few months in 2021. Therefore, this factor is expected to limit Elastomers market growth for the next two years.
Related Report :
1.Thermoplastic Elastomers Market
https://www.industryarc.com/Report/11670/thermoplastic-elastomers-market.html
2.Performance Elastomers Market
https://www.industryarc.com/Research/Performance-Elastomers-Market-Research-500243
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According to a new market research report from IndustryARC, the global Elastomers Market size was around $71,017 million in 2018, and the demand is estimated to grow at a CAGR of 5.28% during the forecast period 2019-2025.
This information is taken from an IndustryARC report titled Elastomers Market which covers Elastomers Market Size by Type and Process, Elastomers Market share by top 5 companies and also the market share by start-ups during the forecast period ”.Continues invention in chemistry and the polymer physics coupled with research and development are creating significant opportunities for the growth of eco-friendly polyurethane elastomers.
The air-conditioner industry is one of the eye-catching arcades for the elastomers marketplace with the increasing use of heating, ventilation, and air-conditioning (HVAC) technology.View Full Table of Contents of Elastomers Market :https://www.industryarc.com/Report/18133/elastomers-market.htmlReport Price: US $5250Global Elastomers Market – Segment Analysis:The analyst of the report identifies that the automotive industry holds a major share in the elastomers market and is projected to grow with a CAGR of around 5.24% during the forecast period.
Due to the increasing automotive and manufacturing industries in countries such as China, India, and Thailand coupled with increasing adoption of soft-touch thermoplastic elastomers by consumer electronics industries in Japan, Taiwan, and South Korea, the region is anticipated to retain its dominance over the forecast period.Talk to one of our sales representatives about the full report by providing your details in the link below:https://www.industryarc.com/support.php?id=18133Global Elastomers Market – Competitive Landscape:BASF SE, DowDupont, Covestro, Kuraray and Huntsman Corp., Zeon Corporation, Lanxess AG are some of the major companies considered in this research report.BASF SE – It is the world’s leading chemical company which provides chemical products such as intermediates and monomers.
Their solutions contribute to conserve resources, ensure nutrition, and improve quality of polymers.
On November 17, 2018 – BASF and the R Development Center of Guangzhou Automobile Group Co. Ltd. (GAC) introduced three co-developed electric concept cars named 2US, 2U, and 2ALL.
This report involves market status and forecast of global and main regions, with introduction of vendors, regions, product types and end industries; and this report counts product types and end industries in global and major regions.Market Segment as follows:By Region / Countries North America (U.S., Canada, Mexico)Europe (Germany, U.K., France, Italy, Russia, Spain etc)South America (Brazil, Argentina etc)Middle East & Africa (Saudi Arabia)By Type Silicone ElastomersFluorocarbon ElastomersFluorosilicone ElastomersPerfluoroelastomers & OthersBy End-User / Application TransportationElectrical & ElectronicsHealthcareIndustrial MachineryOthers By Company Solvay S.A.The 3M CompanyDow Corning Corporation.Wacker Chemie AgMomentive Performance Materials Inc.Shin-Etsu Chemical Co., Ltd.China National Bluestar (Group) Co. Ltd.Daikin Industries LtdI.
Du Pont De Nemours and CompanyKCC Corporation Request sample copy of report @https://www.franknraf.com/sample-report/?rpt_id=566 Table of Contents1 Market Definition2 Global Market by Vendors3 Global Market by Type4 Global Market by End-Use / Application5 Global Market by Regions6 North America Market7 Europe Market8 Asia-Pacific Market9 South America Market10 Middle East & Africa Market11 Market Forecast12 Key Manufacturers Browse more details of report at,https://www.franknraf.com/reports/2015-2023-world-high-temperature-elastomers-market-research-report-by-product-type-end-user-application-and-regions-countries/ Related report· World Kraft Papers Market Research Report By Product Type, End-User / Application And Regions / Countries· World HTS Wire Market Research Report · World UV Coatings Market Research Report · World Charcoal Lump Market Research Report About Frank n Raf Market Research:Frank n Raf Market Research is one of the fastest growing companies in Market Research and Consulting Services.
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Acrylic Elastomers Market is segmented based on type into two notable segments as ethylene acrylic elastomers and acrylic co-monomer elastomers/polyacrylic (ACM).
In 2018, ethylene acrylic elastomers market will dominate the market with 54.3% shares by 2025.The Europe acrylic elastomers market is segmented based on derivative type into four notable segments; ethyl acrylate, butyl acrylate, methyl acrylate and ethyhexyl acrylate.
In 2018, ethyl acrylate market will dominate the market will grow at the highest CAGR of 7.9% in the forecast period 2018 to 2025.The Europe acrylic elastomers market is segmented based on end-user into four notable segments; automotive, construction, industrial machinery, paints & coatings, adhesives & sealants, textiles and others.
In 2018, automotive segment is expected to dominate the acrylic Elastomers market in the forecast period 2018 to 2025.Get Exclusive Sample Report: @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=europe-acrylic-elastomers-marketSome of the leading key players profiled in this study:Dowdupont is going to dominate the Europe acrylic Elastomers with BASF SE, Zeon Corporation, Trelleborg AB, NOK Corporation and OthersEthylene acrylic elastomers segment is expected to dominate the Europe acrylic Elastomers market.
With market share of 3%The acrylic elastomers market in the Europe region is leading in Germany, France, Norway, Italy, Spain, Netherland, Poland and turkey accounts for the highest market share in this region where Germany has highest market share of 24.1%Acrylic Elastomers Market Similar Report Here:Acrylic Elastomers MarketNorth America Acrylic Elastomers MarketKey Pointers Covered in the Acrylic Elastomers Market Trends and Forecast to 2026Acrylic Elastomers Market New Sales VolumesAcrylic Elastomers Market Replacement Sales VolumesAcrylic Elastomers Market Installed BaseAcrylic Elastomers Market By BrandsAcrylic Elastomers Market SizeAcrylic Elastomers Market Procedure VolumesAcrylic Elastomers Market Product Price AnalysisAcrylic Elastomers Market Healthcare OutcomesAcrylic Elastomers Market Cost of Care AnalysisAcrylic Elastomers Market Regulatory Framework and ChangesAcrylic Elastomers Market Prices and Reimbursement AnalysisAcrylic Elastomers Market Shares in Different RegionsRecent Developments for Acrylic Elastomers Market CompetitorsAcrylic Elastomers Market Upcoming ApplicationsAcrylic Elastomers Market Innovators Study Get Detailed Toc and Charts & Tables @ https://www.databridgemarketresearch.com/toc/?dbmr=europe-acrylic-elastomers-market Scope of the Acrylic Elastomers MarketCurrent and future of Acrylic Elastomers Market outlook in the developed and emerging marketsThe segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast periodRegions/Countries that are expected to witness the fastest growth rates during the forecast periodThe latest developments, market shares, and strategies that are employed by the major market playersEurope Acrylic Elastomers Market, By Type (Acrylic Co-Monomer Elastomers/Polyacrylic, Ethylene Acrylic Elastomers), By Derivative Type (Methyl Acrylate Ethyl Acrylate, Butyl Acrylate, Ethyhexyl Acrylate), By End-User (Automotive, Construction, Industrial Machinery, Paints & Coatings, Textiles, Adhesives & Sealants, Others), Geography (Germany, France, U.K., Italy, Spain, Russia, Turkey, Belgium, Netherlands, Switzerland, Rest of Europe) – Industry Trends and Forecast to 2025Europe Acrylic Elastomers Market is expected to grow at a healthy CAGR in the forecast period 2018 to 2025.
The new market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025Inquiry before Buying @ https://www.databridgemarketresearch.com/inquire-before-buying/?dbmr=europe-acrylic-elastomers-marketAbout Us: Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches.
The Global PVC Window Profile Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
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The Global Polyvinyl Alcohol Fibers Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
The market segments are also provided with an in-depth outlook of the competitive landscape and a listing of the profiled key players.The comprehensive value chain analysis of the market will assist in attaining better product differentiation, along with detailed understanding of the core competency of each activity involved.
The market attractiveness analysis provided in the report aptly measures the potential value of the market providing business strategists with the latest growth opportunities.The report classifies the market into different segments based on product type and application.
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According to a research report "Cognitive Assessment and Training Market by Assessment Type (Pen- and Paper-Based, Hosted, Biometrics), Component, Application (Clinical Trial, Screening & Diagnostics, Brain Training, Academic Research), Vertical, and Region - Global Forecast to 2021", published by MarketsandMarkets, the cognitive assessment and training market size is expected to grow from USD 1.98 Billion in 2016 to USD 8.06 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 32.3%.Browse 63 market data tables and 47 figures spread through 150 pages and in-depth TOC on "Cognitive Assessment and Training Market - Global Forecast to 2021"The major forces driving this market are aging global population, increasing awareness about brain fitness, and advancements in technology.
The growing market for cognitive solutions and increasing demand for brain training by next-generation tech-savvy population are contributing to the growth of the cognitive assessment and training market.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1039Clinical trials in terms of application is expected to hold the largest market share in the cognitive assessment and training market during the forecast periodClinical trials are mainly used to identify, measure, or monitor cognitive impairments and cognitive changes.
The assessment of cognitive functions is an integral part of decision-making during clinical drug development, as certain drugs can have an impact on the cognitive capabilities of the brain.
The market is expected to contribute the highest revenue for vendors offering clinical trials.Education vertical is expected to grow at the highest CAGR in the marketCognitive assessment solutions and services are used in the education vertical for screening prospective candidates for schools or colleges.
The leading cognitive assessment and training vendors for this vertical are Pearson Assessment and CogniFit.North America is expected to contribute to the largest market share and Asia-Pacific to grow at the highest CAGRNorth America is expected to hold the largest market share and to dominate the cognitive assessment and training market from 2016 to 2021, due to the increasing awareness among population about adopting medication for cognitive diseases.
The new generation in this region is more concerned toward the benefits of cognitive training, which is not just limited to patients with cognitive dysfunctions.
