Elastomers Market Synopsis
According to the MRFR analysis, the
Global Elastomers Market is expected to reach over ~USD 107.1 Billion by the
end of 2027 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.
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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 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.
Polyether Block Amide (PEBA): It is a
high-performance thermoplastic elastomer. Due to its high flexibility and low
density, PEBA is used in sports applications such as racquet grommets, golf
balls, basketballs, and ski boots.
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 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.
NOTE: Our Team of Researchers is
Studying Covid19 and its Impact on Various Industry Verticals and wherever
required we will be considering Covid19 Footprints for Better Analysis of
Market and Industries. Cordially get in Touch for More Details.
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