Automotive Elastomers Market Size, Share, Growth Analysis, By Type (Thermoset Elastomers, Thermoplastic Elastomers (TEP)), By Application (Tire, Interior), By Vehicle Type, By Region

Description

Automotive Elastomers Market size was valued at USD 34.5 billion in 2023 and is poised to grow from USD 36.4 billion in 2024 to USD 55.86 billion by 2032, growing at a CAGR of 5.5% during the forecast period (2025-2032).

The global automotive elastomers market is experiencing robust growth, driven by the rising demand for lightweight and fuel-efficient vehicles that enhance overall efficiency. As electric vehicles gain popularity, the need for elastomers in components like battery seals and insulation continues to rise. However, challenges such as volatile raw material prices and competition from alternative materials pose potential setbacks. Opportunities abound as the industry shifts towards sustainability, with an increasing focus on bio-based elastomers. The demand for advanced safety and comfort features further propels the market for high-performance elastomers. In summary, the automotive elastomers market is set to expand through 2023 and beyond, fueled by both technological advancements and evolving consumer preferences in the automotive sector.

Top-down and bottom-up approaches were used to estimate and validate the size of the Automotive Elastomers market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Automotive Elastomers Market Segments Analysis

Global Automotive Elastomers Market is segmented by Type, Application, Vehicle Type and region. Based on Type, the market is segmented into Thermoset Elastomers and Thermoplastic Elastomers (TEP). Based on Application, the market is segmented into Tire, Interior, Exterior and Under the Hood. Based on Vehicle Type, the market is segmented into Passenger Cars, Light Commercial Vehicles and Medium and Heavy Commercial Vehicles. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Driver of the Automotive Elastomers Market

The expansion of the automotive industry serves as a significant catalyst for the global automotive elastomers market. As the sector flourishes, there is a corresponding surge in demand for automotive elastomers, which are essential components in numerous applications such as sealing, vibration dampening, and insulation. Additionally, the industry's increasing focus on lightweight materials further boosts the need for these elastomers, as manufacturers seek to enhance fuel efficiency and performance. This combination of factors not only propels market growth but also underscores the vital role that automotive elastomers play in meeting the evolving needs of the automotive sector.

Restraints in the Automotive Elastomers Market

The automotive elastomers market faces significant obstacles due to the instability in raw material prices. As elastomers are primarily sourced from petrochemicals, their costs can be influenced by factors like supply and demand disparities, geopolitical issues, and evolving government policies. Consequently, manufacturers often struggle to accurately forecast their expenses, compelling them to adjust pricing frequently to protect their profit margins. Sudden surges in raw material costs can severely affect the industry's overall profitability, potentially resulting in reduced production and lowered investment levels. To navigate these challenges, companies within the automotive elastomers sector must actively monitor price trends and devise effective contingency strategies.

Market Trends of the Automotive Elastomers Market

The Automotive Elastomers market is experiencing a significant upward trend, primarily propelled by the surging demand for lightweight and fuel-efficient vehicles. As automotive manufacturers increasingly prioritize weight reduction to enhance performance, safety, and fuel economy, elastomers are becoming indispensable in applications such as seals, gaskets, hoses, and suspension systems. These materials not only contribute to lower vehicle weights but also minimize friction and improve aerodynamics, directly impacting fuel efficiency. Additionally, with the rise of electric vehicles (EVs), the need for specialized elastomers that can withstand extreme temperatures and chemical exposures is escalating, further expanding their application in battery packs and charging systems. This combination of factors is set to sustain robust growth in the automotive elastomers sector in the coming years.

Product Code: SQMIG15E2296

Introduction

Objectives of the Study
Scope of the Report
Definitions

Research Methodology

Information Procurement
Secondary & Primary Data Methods
Market Size Estimation
Market Assumptions & Limitations

Executive Summary

Global Market Outlook
Supply & Demand Trend Analysis
Segmental Opportunity Analysis

Market Dynamics & Outlook

Market Overview
Market Size
Market Dynamics
- Drivers & Opportunities
- Restraints & Challenges
Porters Analysis
- Competitive rivalry
- Threat of substitute
- Bargaining power of buyers
- Threat of new entrants
- Bargaining power of suppliers

Key Market Insights

Key Success Factors
Degree of Competition
Top Investment Pockets
Market Ecosystem
Market Attractiveness Index, 2024
PESTEL Analysis
Macro-Economic Indicators
Value Chain Analysis
Pricing Analysis
Raw Material Analysis
Regulatory Analysis
Patent Analysis

Global Automotive Elastomers Market Size by Type & CAGR (2025-2032)

Market Overview
Thermoset Elastomers
- Natural Rubber (NR)
- Styrene-Butadiene Rubber (SBR)
- Butyl Rubber (IIR)
- Poly Butadiene Rubber (BR)
- Neoprene Rubber / Polychloroprene Rubber (CR)
- Nitrile Butadiene Rubber (NBR)
- Acrylic Rubber (ACM)
- Ethylene Propylene Diene Monomer (EPDM)
- Polyisoprene Rubber (IR)
- Silicone (Q) Elastomers
- Fluoroelastomers
Thermoplastic Elastomers (TEP)
- Styrene Block Copolymer (SBC)
- Thermoplastic Polyurethane (TPU)
- Thermoplastic Polyolefins (TPO)
- Thermoplastic Vulcanizates (TPV)
- Thermoplastic Polyester Elastomers (TPC)
- Polyether Block Amide (PEBA)

Global Automotive Elastomers Market Size by Application & CAGR (2025-2032)

Market Overview
Tire
Interior
- Hoses and Seals
- Door Panels
- Airbags
- Conveyors and Transmission belts
- Dash Boards
- Seating
- Instrument & Soft Touch Panels
- Window and Door Trim
- Anti-Slip Mats
Exterior
- Front End Body Panel
- Breaks & Suspensions
- Bumper Fascia
- Rocker Panel
- Roof Molds & Window Shields
Under the Hood
- Battery Casing
- Hoses and nozzles
- Others

Global Automotive Elastomers Market Size by Vehicle Type & CAGR (2025-2032)

Market Overview
Passenger Cars
Light Commercial Vehicles
Medium and Heavy Commercial Vehicles

Global Automotive Elastomers Market Size & CAGR (2025-2032)

North America (Type, Application, Vehicle Type)
- US
- Canada
Europe (Type, Application, Vehicle Type)
- Germany
- Spain
- France
- UK
- Italy
- Rest of Europe
Asia Pacific (Type, Application, Vehicle Type)
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Latin America (Type, Application, Vehicle Type)
- Brazil
- Rest of Latin America
Middle East & Africa (Type, Application, Vehicle Type)
- GCC Countries
- South Africa
- Rest of Middle East & Africa

Competitive Intelligence

Top 5 Player Comparison
Market Positioning of Key Players, 2024
Strategies Adopted by Key Market Players
Recent Developments in the Market
Company Market Share Analysis, 2024
Company Profiles of All Key Players
- Company Details
- Product Portfolio Analysis
- Company's Segmental Share Analysis
- Revenue Y-O-Y Comparison (2022-2024)

Key Company Profiles

BASF SE (Germany)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Dow Inc. (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
LANXESS AG (Germany)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
ExxonMobil Corporation (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
DuPont de Nemours, Inc. (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
SABIC (Saudi Arabia)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
INEOS (UK)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Mitsui Chemicals, Inc. (Japan)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
JSR Corporation (Japan)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Zeon Corporation (Japan)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Kuraray Co., Ltd. (Japan)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Continental AG (Germany)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Huntsman Corporation (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Trelleborg AB (Sweden)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Wacker Chemie AG (Germany)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Nokian Tyres plc (Finland)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Toyoda Gosei Co., Ltd. (Japan)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Sumitomo Riko Company Limited (Japan)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Elastomer Solutions GmbH (Germany)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
AGC Chemicals Americas, Inc. (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments

Automotive Elastomers Market Size, Share, Growth Analysis, By Type (Thermoset Elastomers, Thermoplastic Elastomers (TEP)), By Application (Tire, Interior), By Vehicle Type, By Region - Industry Forecast 2025-2032