Automotive Elastomers Market size was USD 77.15 Billion in 2018 and is expected to increase by USD 96.60 Billion by 2023 at the CAGR of about 4.6%. Rapid growth in industrialization in various economic countries as China and India and growing urbanization in the areas lead to the growth of the market.
Market Driver and Restraints:
The increasing lightweight vehicles, stringent regulatory environment and rising demand in emerging nations. The properties as deficient intermolecular strength, low modulus of elasticity and high strain of failure when compared to other materials propel the Automotive Elastomers Market growth. There are two significant elastomers currently in use these days as synthetic and thermoplastic. Automotive elastomers are used in the manufacture of components that withstand extreme temperatures as insulators, seals, bushes, engine mounts, hoses, and gaskets. The automotive industry grows at a decent pace, as the production of automobiles has increased to fulfill the demand of growing population with rising income levels. Increasing passenger and commercial vehicle demand and applications for sealants, adhesives and flexible molded parts for industries other than automotive as consumer goods, sports and building and construction fuels the supply chain of manufacturers.
The rising expandable incomes of consumers and high living standards push growth for better cars and prompting the need for elastomers — increasing demand from the automotive industry and rising thermoplastic elastomer processing industry. Introduction of stringent emission norms and growing preferences toward high-efficiency automobiles boosts the market for automotive elastomers.
High constant changing prices of raw materials and high cost of production of high-temperature elastomers tend to restrain the market for automotive elastomers market.
Many new products and applications are manufactured by SABIC, Houston that provides its new metallocene-based polyolefin specialty elastomer and plastomer copolymer. The major result of this formation is happening in a joint venture with Korea's SK Global Chemical. This has made SABIC newest entrant in any business in the field of plastic modification and film application.
Market Growth Based on Segmentation:
Type, the segment has multiple forms as natural rubbers, butyl elastomers, butadiene elastomers, ethylene-propylene elastomer, polyisoprene elastomer, nitrile elastomer, silicones, polychloroprene elastomers, acrylic elastomers, fluoroelastomers, styrene block copolymers, thermoplastic polyolefins, thermoplastic polyurethanes, thermoplastic vulcanizates, thermoplastic copolyesters, and thermoplastic polyether block amides.
The application segments have forms as tire and non-tire. Tire application is projected to lead the market for automotive elastomers. The various forms of automotive elastomers are NR, SR that has further sub-segments as SBR, IIR, BR, CR, NBR, ACM, EPDM, IR, Silicone and fluoro-elastomer and TPE (SBC, TPU, TPO, TPV, TPC, and PEBA). The demand for general purpose NR is valued high in all the regions because of the superior properties and the growing automotive industry worldwide.
Automotive Elastomers Market Geographical Segmentation:
Market Regional Condition:
Geographically, the market can be segmented for automotive elastomers as North America, Europe, and South America, Middle-East & Africa, and Asia-Pacific region. India form the Asia-Pacific region tends to provide the high values for the market as the demand for automobile is rising at a fast pace. Availability of cheap labor and other resources contribute to the growth of automotive manufacturing contributes towards the growth of the market.
Competitor’s Analysis in the marketplace:
Dow Chemical Company is a leading producer of plastics, chemicals, hydrocarbons, and agrochemicals. Whereas, Dow makes performance plastics including engineering plastics, polyurethanes, and materials for Dow Automotive. Other products include packaging material as its Styrofoam brand insulation and films. The company manufactures chemicals like acrylic acid, commodity chemicals and agrochemicals.
Prominent Key Players mentioned in the Market:
Research key highlights:
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Automotive Elastomers Market , By Type
6.1.1 Thermoset Elastomers
6.1.1.1 Natural Rubber
6.1.1.2 Styrene Butadiene Rubber
6.1.1.3 Polybutadiene Rubber
6.1.1.4 Butyl Rubber
6.1.1.5 Ethylene Propylene Diene Monomer
6.1.1.6 Nitrile Butadiene Rubber
6.1.1.7 Ssilicone Rubber
6.1.2 Thermoplastic Elastomer
6.1.2.1 Styrene Block Copolymer
6.1.2.2 Thermoplastic Olefins, Thermoplastic Vulcanizates
6.1.2.3 Thermoplastic Polyurethane
6.1.2.4 Thermoplastic Polyester Elastomer
6.1.2.5 Copolyesters
6.2 Automotive Elastomers Market , By Application
6.2.1 Tire
6.2.2 Interior
6.2.2.1 Airbags
6.2.2.2 Hoses & seals
6.2.2.3 Breaks & suspensions
6.2.2.4 Door Panels
6.2.2.5 Transmission & Conveyor Belts
6.2.2.6 Dash Boards
6.2.2.7 Seatings
6.2.2.8 Instrument & Soft Touch Panels
6.2.3 Exterior
6.2.3.1 Front End Body Panel
6.2.3.2 Bumper Fascia
6.2.3.3 Rocker Panel
6.2.3.4 Roof Molds & Window Shields
6.3 Automotive Elastomers Market , By Vehicle Type
6.3.1 Passenger Cars
6.3.2 Light Commercial Vehicles
6.3.3 Medium & Heavy Commercial Vehicles
7. Geographical Landscape
7.1 Global Automotive Elastomers Market, by Region
7.2 North America - Market Analysis (2018 - 2023)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Type
7.2.3 By Application
7.2.4 By Vehicle Type
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Type
7.3.3 By Application
7.3.4 By Vehicle Type
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Type
7.4.3 By Application
7.4.4 By Vehicle Type
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Type
7.5.3 By Application
7.5.4 By Vehicle Type
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Type
7.6.3 By Application
7.6.4 By Vehicle Type
8. Key Player Analysis
8.1 Arlanxeo
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Dow
8.3 ExxonMobil
8.4 JSR Corporation
8.5 DuPont
8.6 BASF
8.7 LG Chem
8.8 SABIC
8.9 Teknor Apex
8.10 Zeon Corporation
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
