Automotive Elastomers Market:
Automotive Elastomers are produced by cross-linking of carbon, hydrogen and oxygen atoms which offers significant properties such as excellent flexibility, elongation, and durable nature to the finished material. Moreover, they also provide versatility and reliability to the product.
The Global Automotive Elastomers Market has been driven by the range of its application in various sectors such as automotive, construction, aviation, footwear, electrical & electronics and others. Moreover, it is estimated that the construction segment is set to witness the highest growth in the market due to the growing consumption of thermoplastic materials in the sector over the forecast period.
As per our Analysis, the Global Automotive Elastomers Market is bifurcated into the type, application and end-use. The market by type is further divided into natural rubber, styrene butadiene rubber, nitrile elastomer, ethylene propylene diene monomer, silicone rubber, fluoroelastomers, styrene block copolymers, thermoplastic polyurethane (TPU), thermoplastic vulcanizates (TPV), and thermoplastic polyester elastomer (TPC) segments. Among these, the natural rubber segment holds a major portion of the market on account of its growing use in flooring, airbags, clothing, gaskets and others. This segment provides exceptionally good elasticity, wear resistance, elongation and breaking strength to the final product. Thus, they are used in automotive, construction, aviation, and others. Tire and non-tire segments are segregated on the basis of application.
Regional Insight: Geographically, Global Automotive Elastomers Market is segmented across Five Regions in the world namely: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Among these, The North America region is estimated to witness a higher growth in the U.S., Canada and Mexico due to increasing consumption of low density materials in automobile, aviation, industrial goods, footwear, and medical sectors. And the enactment of new rules and regulations set by the European Union has driven the manufacturers to use efficient and high performance materials in the end-use industries.
Market Categorization: The Global Automotive Elastomers Market is segmented into the type, application and end-use. On the basis of the resin type, the market is further categorized into natural rubber, styrene butadiene rubber, nitrile elastomer, ethylene propylene diene monomer, silicone rubber, fluoroelastomers, styrene block copolymers, TPU, TPV, and TPC segments. Among these, the natural rubber segment holds a majority of the market share due to extraordinary features offered by the product such as excellent elongation and tensile strength. Tire and non-tire segments are classified on the basis of application segment. Among these, the tire segment is set to drive the market on account of the growing consumption of low density materials in gaskets, adhesives and sealants. The market by end-use is further categorized into automotive, construction, aviation, footwear, electrical & electronics, and others. Among these, the automotive segment accounts for major share of the market owing to growing replacement of heavy metals by lightweight materials to improve the efficiency and performance of the equipment. Moreover, the growing demand of thermoplastic polymers in the construction industry is set to drive the construction segment as they provide unique elongation, flexibility and resilience to the product. Therefore, the enhanced mechanical properties, durability and reliable nature are the major reasons behind the consumption of thermoplastics in most of the heavy end-use industries.
Top Global Players: Some of the Top Global Players functioning in the Global Automotive Elastomers Market are: 3M (U.S.), BASF SE (Germany), ARLANXEO (the Netherlands), The Dow Chemical (U.S.), Exxon Mobil Corporation (U.S.), DuPont (U.S.), SABIC (Saudi Arabia), Huntsman International LLC (U.S.), LyondellBasell Industries Holdings B.V. (the Netherlands), and Asahi Kasei (Japan), among others.
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