Elastomers Market by Product, Type, Application, End-Use Industries

List of Tables

[196 Pages Report] The Elastomers Market size was estimated at USD 95.48 billion in 2023 and expected to reach USD 100.33 billion in 2024, at a CAGR 5.42% to reach USD 138.17 billion by 2030.

Elastomers are polymers that stretch significantly and return to their original shape without permanent deformation. They are also known as "rubbery materials" owing to their flexibility and resilience. Owing to their durability and capacity to withstand mechanical stresses, elastomers can be found in numerous everyday applications, including tires, gaskets, and elastic bands. These materials can be naturally derived from natural rubber or synthetically produced, offering a wide range of properties tailored to specific needs and uses. Increasing investments in construction and infrastructure globally, coupled with substantial demand for elastomers from the automotive industry, drive the market demand. However, aging and degradation issues, difficulty in recycling, and performance limitations in extreme thermal and chemical environments can deter market adoption. Nevertheless, the rising development of smart elastomers coupled with expansion in aerospace applications and research and development in bio-based elastomers are anticipated to create lucrative opportunities for market growth.

KEY MARKET STATISTICS
Base Year [2023]	USD 95.48 billion
Estimated Year [2024]	USD 100.33 billion
Forecast Year [2030]	USD 138.17 billion
CAGR (%)	5.42%

Regional Insights

The elastomers market in the Americas is growing and is characterized by high technological advancements and stringent regulatory standards that significantly influence manufacturing and environmental practices. Recent patents in the Americas reveal innovations aimed at improving the sustainability and efficiency of elastomer production, with considerable emphasis on recyclable and bio-based elastomers. The EU market is heavily regulated with a strong focus on environmental sustainability, which drives the demand for eco-friendly elastomers. Government initiatives and funding often support innovations, particularly for developments that contribute to environmental sustainability. The automotive sector remains a significant user of elastomers, fueling demand for lightweight and durable components. In the Middle East, the expansion of infrastructure and automotive sectors propels the elastomer market. Investments in construction and automotive parts that can withstand extreme temperatures and conditions are particularly prominent. On the other hand, Africa is an emerging market with increasing demand driven by infrastructure development and industrialization. The Asia-Pacific elastomer market is driven by massive manufacturing output and domestic demand in the automotive, electronics, and construction sectors. The region is also a hub for substantial innovations and patents in elastomer production technology, focusing on improving product performance and environmental footprint. The demand is also rising in the construction and agriculture sectors, emphasizing the need for affordable and durable materials.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Elastomers Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Exponential investments in construction and infrastructure globally
- Significant demand for elastomers from the automotive industry

Market Restraints
- Aging and degradation issues, along with difficulty in recycling

Market Opportunities
- Development of smart elastomers coupled with expansion in aerospace applications
- Ongoing research and development in bio-based elastomers

Market Challenges
- Performance limitations in extreme thermal and chemical environments

Market Segmentation Analysis
- Product: Burgeoning usage of natural rubber owing to their its flexibility and resilience
- End-Use Industries: Proliferating utilization of elastomers in the electronics industry

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Elastomers Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Elastomers Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Arkema Expands Pebax Elastomer Production to Meet Rising Global Demand

Arkema announced a significant increase in the production capacity of Pebax elastomers, scheduled for completion by the end of 2024. This expansion is a strategic response to the growing demand for these versatile polymers, widely used across various industries, including automotive, consumer goods, and sports equipment due to their unique properties such as light weight, flexibility, and high energy return. The enhanced production facility aims to meet the existing market demand and support future growth and innovation in applications that leverage the benefits of Pebax elastomers. [Published On: 2024-01-02]

Trinseo Introduces Transparent Thermoplastic Elastomer, Advancing Design Flexibility and Sustainability in Multiple Industries

Trinseo launched an innovative transparent thermoplastic elastomer (TPE) that substantially benefits product design and functionality. This new product, notable for its remarkable clarity and durability, is reshaping possibilities across various industries, including consumer goods, automotive, and lighting. The transparent TPE allows for greater design flexibility and meets the stringent regulatory requirements needed in multiple markets, paving the way for manufacturers to develop more aesthetically pleasing and robust products. Trinseo's focus on sustainability is evident, as this new TPE aligns with current environmental standards, emphasizing its commitment to providing eco-friendly materials solutions. [Published On: 2023-09-13]

Borealis Launches New Sustainable Elastomers and Plastomers from Renewable Resources

Borealis announced the introduction of a new portfolio of circular plastomers and elastomers created from renewable feedstock. This pioneering move underlines their commitment to sustainability by reducing dependence on fossil resources and decreasing carbon emissions. The innovative materials promise enhanced performance and environmental benefits, aligning with the rising demand for sustainable solutions in various industries. This initiative contributes to Borealise's vision of circularity in plastics production and supports global efforts toward achieving a more sustainable future in material science. [Published On: 2023-05-02]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Elastomers Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Elastomers Market, highlighting leading vendors and their innovative profiles. These include 3M Company, Arkema S.A., Ashland Global Holdings Inc., BASF SE, Bridgestone Corporation, Continental AG, Covestro AG, Dow Chemical Company, Eastman Chemical Company, ExxonMobil Corporation, Hankook Tire & Technology Co., Ltd., Huntsman Corporation, JSR Corporation, KRATON CORPORATION, Kumho Petrochemical Co., Ltd., Lanxess AG, Lubrizol Corporation, Mitsui Chemicals, Inc., PolyOne Corporation, Saint-Gobain S.A., Shin-Etsu Chemical Co., Ltd., Sumitomo Chemical Co., Ltd., Toray Industries Inc., Tosoh Corporation, and Zeon Corporation.

Market Segmentation & Coverage

This research report categorizes the Elastomers Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
- Natural Rubber
- Synthetic Rubber
- Thermoplastic Elastomers (TPE)

Type
- Saturated
- Unsaturated

Application
- Automotive Components
- Construction Materials
- Consumer Goods
- Industrial Products
- Medical Devices

End-Use Industries
- Aerospace
- Automotive
- Electronics
- Healthcare
- Manufacturing

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-CB04E05657DA

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Exponential investments in construction and infrastructure globally
  - 5.1.1.2. Significant demand for elastomers from the automotive industry
- 5.1.2. Restraints
  - 5.1.2.1. Aging and degradation issues, along with difficulty in recycling
- 5.1.3. Opportunities
  - 5.1.3.1. Development of smart elastomers coupled with expansion in aerospace applications
  - 5.1.3.2. Ongoing research and development in bio-based elastomers
- 5.1.4. Challenges
  - 5.1.4.1. Performance limitations in extreme thermal and chemical environments
5.2. Market Segmentation Analysis
- 5.2.1. Product: Burgeoning usage of natural rubber owing to their its flexibility and resilience
- 5.2.2. End-Use Industries: Proliferating utilization of elastomers in the electronics industry
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Elastomers Market, by Product

6.1. Introduction
6.2. Natural Rubber
6.3. Synthetic Rubber
6.4. Thermoplastic Elastomers (TPE)

7. Elastomers Market, by Type

7.1. Introduction
7.2. Saturated
7.3. Unsaturated

8. Elastomers Market, by Application

8.1. Introduction
8.2. Automotive Components
8.3. Construction Materials
8.4. Consumer Goods
8.5. Industrial Products
8.6. Medical Devices

9. Elastomers Market, by End-Use Industries

9.1. Introduction
9.2. Aerospace
9.3. Automotive
9.4. Electronics
9.5. Healthcare
9.6. Manufacturing

10. Americas Elastomers Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Elastomers Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Elastomers Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Arkema Expands Pebax Elastomer Production to Meet Rising Global Demand
- 13.3.2. Trinseo Introduces Transparent Thermoplastic Elastomer, Advancing Design Flexibility and Sustainability in Multiple Industries
- 13.3.3. Borealis Launches New Sustainable Elastomers and Plastomers from Renewable Resources
13.4. Strategy Analysis & Recommendation

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio