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Elastomers are polymers that are having a viscosity as well as elasticity and therefore are known as viscoelasticity. Elastomer are used for rubber tires and tubes for vehicles, motorcycles, bicycles and recreational vehicles, lawn mowers and other yard work vehicles, belts, hoses, gloves, matting, toy balloons, rubber bands, adhesives and pencil erasers. The global elastomers market size is projected to grow by USD 25 million from 2022 to 2028, registering a CAGR of 4.1 percent, according to a new report by Gen Consulting Company.
This industry report offers market estimates of the global market, followed by a detailed analysis of the product, application, and region. The global market data on elastomers can be segmented by product: thermoplastic elastomers (TPEs), thermoset elastomers (TSEs). The thermoset elastomers (TSEs) segment was the largest contributor to the global elastomers market in 2021. Elastomers market is further segmented by application: automotive components, bias heavy duty tires, bias light duty tires, bicycle tires, motorcycle tires, radial heavy duty tires, radial light duty tires, others. According to the research, the radial light duty tires segment had the largest share in the global elastomers market. Based on region, the elastomers market is segmented into: Asia Pacific, China, Europe, North America, Rest of the World (RoW). China held the largest revenue share in 2021.
The thermoplastic elastomers (TPEs) market is further segmented into styrene block copolymers (SBCs), thermoplastic polyolefins (TPOs), thermoplastic polyurethane (TPU), thermoplastic vulcanizates (TPVs), thermoplastic polyester elastomers (TPEs), other. The SBC segment is estimated to account for the largest share of the global elastomers market. Furthermore, the thermoset elastomers (TSEs) market has been categorized into natural rubber, synthetic rubber. The synthetic rubber segment held the largest share of the global elastomers market in 2021 and is anticipated to hold its share during the forecast period.
The global elastomers market is highly competitive. The prominent players operating in the global elastomers market include Ashland Global Holdings Inc., China National Petroleum Corporation, Denka Company Limited, DuPont de Nemours Inc., Evonik Industries AG, Goodyear Tire and Rubber Company, JSR CORPORATION, Kraton Corporation, Kuraray Co. Ltd., LCY Chemical Corp., Nizhnekamskneftekhim, Sibur, Sinopec, Teknor Apex Company, The Michelin Group, Trinseo PLC, Zeon Corporation.
The data-centric report focuses on market trends, status and outlook for segments. With comprehensive market assessment across the major geographies, the report is a valuable asset for the existing players, new entrants and the future investors.
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