Global Elastomers Market
Global Elastomers Market Report Description:
Global Elastomers market report gives comprehensive outlook on elastomers across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global elastomers market gives historical, current, and future market sizes (US$ Mn) on the basis of product, end user and region. This report studies global elastomers market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global elastomers market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global elastomers market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities). Key stakeholders of the global elastomers market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global elastomers products.
Global Elastomers Market:
The global Elastomers market estimated to be valued US$ XX Mn in 2018 and poised to grow at significant CAGR over 2019-2025. Some of the key factors influencing the market growth include increasing demand from the automotive industry, growing population and per capita income levels, cost effectiveness and adaptability of elastomers in major end-user. However, fluctuating prices and availability of cheap products are hampering the market growth.
Increasing Demand from Automotive Industry
The automotive industry is the largest end-user for elastomers. Elastomers are primarily used for hoses and belts, gaskets, bellows. Implementation of elastomers reduces the vehicle weight considerably, which turns out to be an optimum step taken as it expands the fuel efficiency and reduces the carbon dioxide emissions. Rising adoption for hybrid and Electric Vehicles (EVs) is influencing the product demand in this application. High-performance elastomers are used in EVs for better fuel-efficiency and reduced carbon emissions. Elastomers have developed as the perfect substitute to PVC and vulcanized rubber which are widely used in the interiors as well as exteriors of a vehicle.
High Costs to Hamper the Market
The major challenge of the market is high production and maintenance cost of the product. Because of this issue, the elastomers market is facing a sluggish growth in the emerging nations. Moreover, the availability of cheaper products furthers restricts the market growth.
Asia Pacific Accounts for Larger Market Revenue Share in Global Elastomers Market
Asia Pacific accounted for larger revenue share in global elastomers market with considerable CAGR owing to growing automotive production in emerging countries like China, India, and Indonesia and increasing demand for high-quality consumer goods. Further, urbanization and industrialization in these countries is increasing construction and manufacturing industries which will further enhance the market growth.
Competition Assessment
Key player’s profiles in the global elastomers market include:
- Bailey-Parks Urethane Inc. (U.S)
- API S.P.A. (Italy)
- BASF SE (Germany)
- Covestro (Germany)
- I. du Pont de Nemours and Company (U.S.)
- Huntsman Corp. (U.S)
- JSR Corporation (Japan)
- Lanxess AG (Germany)
- Miracll Chemicals Ltd (China)
- The Dow Chemical Company (U.S.)
Global elastomers market is surging owing to frequent acquisitions and launchings by the market players. For Instance, in September 2017: BASF’s polyurethane-based cushioning system powered the latest innovation for runners with the launch of the all-new Brooks Levitate with DNA AMP performance running shoe based on seven years of run research.
Key Findings of the Report:
- Global elastomers market expanding at significant CAGR over 2019 to 2025 owing to growing demand from the automotive industry.
- Based on product, thermoplastic elastomers segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global Elastomers market
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
Detailed Segmentation
By Product
- Thermoset Elastomers
- Synthetic Rubber
- Styrene Butadiene Rubber
- Butyl Rubber
- Butadiene Rubber
- Nitrile Rubber
- Ethylene Propylene Rubber
- Others (choloprene rubber, isoprene rubber, etc.)
- Natural Rubber
- Thermoplastic Elastomers
- Thermoplastic Polyurethane (TPU)
- Thermoplastic Vulcanizates (TPV)
- Thermoplastic Polyolefins (TPO)
- Styrene Block Co-polymer
- Others (thermoplastic co-polyester, thermoplastic polyamides, etc.)
By End User
- Automotive
- Healthcare
- Consumer Goods
- Construction
- Oil & Gas
- Others
By Geography
North America
- US
- Canada
Europe
- Germany
- France
- UK
- Italy
- Spain
- Russia
- Poland
- Rest of Europe
Asia-Pacific
- Japan
- China
- India
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Venezuela
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- Israel
- South Africa
- Rest of MEA
