The global size of the automotive elastomers market was USD 46.13 Billion in 2017 and is projected to reach USD 58.82 Billion by 2022, at a CAGR of 5.0% between 2017 and 2022. The automotive elastomers market has witnessed significant growth in recent years, due to the excellent properties of automotive elastomers, such as heat resistance, weathering and ozone resistance, flexibility, durability, aging resistance, variety, chemical resistance, and oil & gas resistance. The superior properties of automotive elastomers over traditional rubber drive the global automotive elastomers market.
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The main types of automotive elastomers are [NR, SR (SBR, IIR, BR, CR, NBR, ACM, EPDM, IR, Silicone, and fluoroelastomer) and TPE (SBC, TPU, TPO, TPV, TPC, and PEBA)]. Based on type, the NR segment led the automotive elastomers market in 2016 due to the use of NR in tire applications, owing to its excellent properties and distinct varieties. The demand for general purpose NR is high in all regions because of its superior properties and growing automotive industry globally.
Key Target Audience:
- Manufacturers of Automotive Elastomer Materials
- Original Equipment Manufacturers
- Automotive and Transportation Manufacturers
- Traders, Distributors, and Suppliers of Automotive Elastomers
- Regional Manufacturers Associations and General Automotive Elastomer Associations
- Government and Regional Agencies and Research Organizations
- Investment Research Firms
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Tire application is projected to lead the automotive elastomers market during the forecast period
Automotive elastomers are used in tire and non-tire applications. Among these two, the tire application is expected to lead the automotive elastomers market between 2017 and 2022, followed by the non-tire application. Because of the implementation of stringent environmental regulations regarding emission levels, the design of vehicles has changed drastically over the past few decades. Manufacturers are designing compact, lightweight, and more efficient vehicles. This requires that various under-the-hood components should be in close proximity to each other, resulting in increased heat levels. Vehicle manufacturers require an automotive elastomer that can operate under such tough conditions.
Automotive elastomers are used in tire and non-tire applications. Among these two applications, the tire application is projected to lead the automotive elastomers market during the forecast period. Because of the implementation of stringent environmental regulations regarding emission levels, vehicle design has been changing drastically over the past few decades. Manufacturers are designing compact, lightweight, and more efficient vehicles, which require automotive elastomers, and this demand is driving the automotive elastomers market.
Some of the major market players in the global automotive elastomers market include Arlanxeo (Netherlands), Dow (US), ExxonMobil (US), JSR Corporation (Japan), DuPont (US), BASF (Germany), LG Chem (South Korea), SABIC (Saudi Arabia), Teknor Apex (US), and Zeon Corporation (Japan).
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