Automotive Elastomers Market Size, Top Key Player- BASF SE, DuPont, SABIC, 3M
Automotive Elastomers are composed of long chains of carbon, hydrogen and oxygen atoms. They are capable of returning back to original shape due to crosslinking between the chains. They offer resilience and exceptional tensile strength to the product. Moreover, excellent flexibility, chemical resistance, and its durable nature are the important trends and factors influencing the market confidently. Therefore, they are used in various sectors such as automotive, construction, aviation, footwear, electrical & electronics and others.
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. Among these, the tire segment holds a majority of the market on account of growing use of thermoplastic materials in automotive and aerospace sectors to manufacture exterior body parts such as headlamp gaskets, wiper blades, bellows in the industries. Automotive, construction, aviation, footwear, electrical & electronics, and others are segmented on the basis of end-use segment. Among these, automotive sector is the leading segment in the market owing to the growing production of lightweight and efficient vehicles in the automotive industry.
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Major Key Players:
Some of the Major Players functioning in the Global Automotive Elastomers Market are:
- BASF SE (Germany),
- ARLANXEO (the Netherlands),
- The Dow Chemical Company (U.S.),
- Exxon Mobil Corporation (U.S.),
- DuPont (U.S.),
- SABIC (Saudi Arabia),
- 3M ( U.S.),
- Huntsman International LLC (U.S.),
- LyondellBasell Industries Holdings B.V. (the Netherlands),
- Asahi Kasei Corporation (Japan).
The Global Automotive Elastomers Market is segregated into the Type, Application, and End User:
- Natural Rubber,
- Styrene Butadiene Rubber,
- Nitrile Elastomer,
- Ethylene Propylene Diene Monomer,
- Silicone Rubber,
- Styrene Block Copolymers,
- Thermoplastic Polyurethane (Tpu),
- Thermoplastic Vulcanizates (Tpv),
- Thermoplastic Polyester Elastomer (Tpc)
By End User:
- Electrical & Electronics,
- And Others
Geographically, Global Automotive Elastomers Market is segmented across Five Regions in the world namely:
- Asia Pacific,
- North America,
- Latin America,
- Middle East & Africa.
Asia Pacific holds the major portion of the global market and is anticipated to continue its dominance due to rising demand for thermoplastic materials in various applications. Countries such as China, Japan and India are the major players in this region. The North America region is estimated to witness a higher growth in the U.S., Canada and Mexico owing to increasing demand for lightweight materials in automotive, construction, aviation, electrical & electronics, and others. 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. Moreover, it is projected that the advancing research & development of thermoplastic materials in the market has propelled this region to witness a significant growth in Germany, the U.K and Italy.
The Middle East & Africa is estimated to observe a significant growth due to increasing consumption of low density materials in aviation, industrial, medical, and others. Additionally, the growing demand for elastic and resilience materials is projected to boost the market in the Latin American region.
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