Global elastomers market is projected to grow at a formidable rate during the forecast period, 2023-2027. The market growth can be attributed to the growing automotive industry and increasing technological innovations & product development. Elastomers are highly versatile engineering materials that exhibit unique combination of useful properties. They are widely utilized in the automotive industry due to their properties such as resistance to oil, grease, and ozone. These are also incorporated for enhancing the interior design of vehicles. Elastomers can be used as an alternative to rubber and PVC without compromising on the performance, strength, durability, and pliability parameter. Additionally, the medical industry widely employs a large share of elastomeric products to make stoppers and gaskets, owing tot heir molding and high insulation properties. Emergence of new kinds of elastomers with enhanced elasticity and viscosity and their high applicability and ease of usage are some of the factors fuelling the growth of the global elastomers market during the forecast period. Moreover, continuously increasing demand for specialty elastomers is expected to create lucrative opportunities for the key players in the global elastomers market. However, price volatility and intra-elastomer segment replacement are some of the factors that might hinder the growth of the global elastomers market in the coming years.
The global elastomers market is segmented on the basis of type, application, and region. Based on type, the market has been segmented into thermoset and thermoplastic. In 2021, the natural rubber segment in thermoset led the market and is projected to dominate the market over the next five years as well owing to its various applications. Based on applications, the market has been segmented into automotive, medical, consumer goods, industrial, and others. These are the main applications considered in the report. The automotive application segment is estimated to lead the elastomers market, while the medical segment is projected to witness highest growth during the forecast period. The APAC region dominated the market in 2021 and is expected to maintain its dominance over the next five years as well owing to rising demand for elastomers in automotive sector. However, the North America region is the second-largest consumer of elastomers, globally.
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Some of the leading players in the global elastomers market are The DOW Chemical Company, BASF SE, Covestro AG, JSR Corporation, Nizhnekamskneftekhim PJSC, Teknor Apex, E. I. Du Pont De Nemours and Company, Lanxess AG, Zeon Corporation, Kuraray Co. Ltd., etc.
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Attribute
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Details
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Historic Data
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2017 – 2020
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Estimated Year
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2022
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Forecast Period
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2023 – 2027
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Quantitative Units
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Revenue in USD Million, Volume in
Units, CAGR for 2017-2021 and 2022-2027
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Report coverage
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Revenue Forecast, Volume Forecast, Company
Share, Competitive Landscape, Growth Factors, And Trends
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Segments covered
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By Type
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By Application
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Region scope
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Asia Pacific; Europe & CIS; North
America; South America; Middle East & Africa
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Country scope
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China, India, Japan, South Korea, Australia,
Singapore, Malaysia, France, Germany, United Kingdom, Italy, Spain, United
States, Mexico, Canada, Brazil, Argentina, Colombia, South Africa, Saudi
Arabia, UAE, Qatar
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Key companies profiled
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The DOW Chemical Company, BASF SE,
Covestro AG, JSR Corporation, Nizhnekamskneftekhim PJSC, Teknor Apex, E. I.
Du Pont De Nemours and Company, Lanxess AG, Zeon Corporation, Kuraray Co.
Ltd.
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Customization scope
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10% free report customization with
purchase. Addition or alteration to regional & segment scope.
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Pricing and purchase options
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Avail customized purchase options to
meet your exact research needs. Explore purchase options
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Delivery Format
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PDF and Excel through Email (We can
also provide the editable version of the report in PPT/Word format on special
request)
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