Elastomers Applications and Global Market Analysis 2024: Key Opportunities for Sustainable Elastomer Products and Growth Opportunities in Asian Markets - ResearchAndMarkets.com

The "Elastomers: Applications and Global Markets" report has been added to ResearchAndMarkets.com's offering.

The Global Elastomers Market was valued at USD 105 Billion in 2023 and is expected to grow to USD 153.5 Billion in 2028, rising at a CAGR of 7.9%.

The Asia-Pacific market was valued at $46.3 billion in 2022 and is expected to reach $77.6 billion by the end of 2028, growing at a CAGR of 9%. The growth in North America and Europe will be slower, i.e., these regions will grow at CAGRs of 6.6% and 5.4%, respectively, from 2023 through 2028, reaching $29.7 billion and $23.3 billion, respectively. The rate of growth is expected to pick up in the coming years. The Asia-Pacific region, especially China, Vietnam, Indonesia, and India, should grow relatively faster throughout the next five years.

The key global companies in the global elastomers market are trying to create partnerships, joint ventures, and collaborations with small and medium elastomer companies. For instance, in April 2023, DuPont entered into a collaboration with Qosina. Through this collaboration, Qosina gained access to DuPont's Liveo Silicone Elastomer series, which is specifically used in the production of biopharmaceutical, pharmaceutical, and medical devices. Likewise, in November 2023, Covestro AG strengthened its partnership with China's Huafon. This partnership will help the company to increase its elastomer business in China.

Tires, hoses, gaskets, adhesives, tubes, belts, and coatings are among the applications for which the majority of elastomers are employed in the automobile sector. The performance of the automotive sector as a whole is closely correlated with the use of elastomers in that sector. Because of their belief in the potential growth of the automobile industry in developing countries like China, India, and Japan, automakers are dedicated to innovation.

Report Scope

This report contains comprehensive information about the elastomers industry and the users of elastomers. It also includes details about various types of elastomers, processes associated with elastomers, and end-use industries that rely on elastomers. Estimated market values are based on manufacturers' total revenues.

The global elastomers market is segmented into the following categories:

• Type (thermosets, and thermoplastics).
• Process (injection molding, extrusion, adhesive, coating).
• End-use Industries (automotive, industrial, medical, consumer goods, building and construction).
• Region: North America, Europe, Asia-Pacific (APAC) and the Rest of the World (RoW).

The Report Includes

• 119 data tables and 38 additional tables
• An overview of the global market for elastomers
• Analyses of global market trends, with data from 2022, estimates for 2023, forecast for 2027, and projections of compound annual growth rates (CAGRs) through 2028
• Evaluation of the current market size and revenue growth prospects specific to elastomers, accompanied by a comprehensive market share analysis categorized by product type, process, end-user industry, and geographical region
• A look at the innovations, technological advancements, and the launch of novel products from market players
• Detailed analysis of the regulatory framework and policies and product pipeline of the industry, and discussion on ESG challenges and ESG practices in the elastomer industry
• Market share analysis of the key companies of the industry and coverage of their proprietary technologies, strategic alliances, and other key market strategies and a relevant patent analysis
• Company profiles of the leading players in the industry:
  • Arkema
  • BASF
  • Covestro
  • Dow
  • Dupont
  • Evonik Industries
  • Huntsman International
  • Kuraray Co. Ltd.
  • Lanxess
  • LG Chem

Key Attributes: