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Global Performance Elastomer Market Size study, by Type, by End-Use Industry and Regional Forecasts 2022-2032
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Global Performance Elastomer Market is valued approximately at USD 18.19 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 7.29% over the forecast period 2024-2032. Performance elastomers are a unique class of polymers characterized by their remarkable flexibility and resilience, allowing them to revert to their original shape upon the removal of deforming forces. These elastomers are composed of long chains of atoms, primarily hydrogen, oxygen, and carbon, and are extensively used in various industries due to their superior properties such as resistance to heat, weathering, and chemicals. Furthermore, ongoing advancements in the development of high-performance elastomers and the increasing adoption of these materials in various industries present significant growth opportunities during the forecast period 2024-2032.
The increasing production of vehicles in both developed and developing countries is a major driver for the performance elastomer market. As per the International Organization of Motor Vehicle Manufacturers, global vehicle production increased from 77 million units in 2020 to 80 million units in 2021, significantly boosting the demand for performance elastomers in automotive components. The superior characteristics of performance elastomers, including their resistance to aging and their durability and flexibility, are anticipated to drive market growth during the forecast period. However, the high production costs associated with performance elastomers, particularly silicone elastomers, pose a significant challenge. The cost of raw materials, energy-intensive production processes, and environmental concerns regarding non-biodegradable fluoroelastomers could hinder market growth.
The key regions in the Global Performance Elastomers Market include North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2023, Asia-Pacific dominate the global performance elastomers market, and is projected to grow at a fastest rate during the forecast period. The region's growth is driven by increasing demand from the automotive and construction industries, supported by consistent GDP growth, urbanization, and industrialization. The region's burgeoning economies, such as China, India, and Southeast Asian countries, drive substantial demand for performance elastomers in diverse sectors including automotive, construction, electronics, and consumer goods. Favorable government policies supporting industrial growth, coupled with increasing investments in advanced manufacturing technologies, further boost the market. Additionally, the presence of key elastomer producers and a growing focus on sustainability and innovation in materials contribute to Asia-Pacific's significant influence over the global performance elastomers market.
Major market players included in this report are:
- 3M Company
- BASF SE
- Daikin Industries Ltd.
- Dow
- DuPont de Nemours, Inc.
- Exxon Mobil Corporation
- Mitsui Chemicals Inc.
- Solvay S.A.
- Wacker Chemie AG
- Zeon Chemicals L.P.
- Arlanxeo
- Momentive
- Tosoh Corporation
- Avient Corporation
- Denka Performance Elastomer
The detailed segments and sub-segment of the market are explained below:
By Type
- Nitrile-based Elastomers
- Silicone Elastomers
- Fluoroelastomers
- Others
By End-Use Industry
- Automotive and Transportation
- Healthcare
- Industrial Machinery
- Building and Construction
- Electrical and Electronics
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- RoMEA
Years considered for the study are as follows:
- Historical year - 2022
- Base year - 2023
- Forecast period - 2024 to 2032
Key Takeaways:
- Market Estimates & Forecast for 10 years from 2022 to 2032.
- Annualized revenues and regional level analysis for each market segment.
- Detailed analysis of geographical landscape with Country level analysis of major regions.
- Competitive landscape with information on major players in the market.
- Analysis of key business strategies and recommendations on future market approach.
- Analysis of competitive structure of the market.
- Demand side and supply side analysis of the market.
Table of Contents
Chapter 1. Global Performance Elastomer Market Executive Summary
- 1.1. Global Performance Elastomer Market Size & Forecast (2022-2032)
- 1.2. Regional Summary
- 1.3. Segmental Summary
- 1.3.1. By Type
- 1.3.2. By End-Use Industry
- 1.4. Key Trends
- 1.5. Recession Impact
- 1.6. Analyst Recommendation & Conclusion
Chapter 2. Global Performance Elastomer Market Definition and Research Assumptions
- 2.1. Research Objective
- 2.2. Market Definition
- 2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
- 2.3.3.1. Availability
- 2.3.3.2. Infrastructure
- 2.3.3.3. Regulatory Environment
- 2.3.3.4. Market Competition
- 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
- 2.3.4.1. Regulatory frameworks
- 2.3.4.2. Technological Advancements
- 2.3.4.3. Environmental Considerations
- 2.3.4.4. Consumer Awareness & Acceptance
- 2.4. Estimation Methodology
- 2.5. Years Considered for the Study
- 2.6. Currency Conversion Rates
Chapter 3. Global Performance Elastomer Market Dynamics
- 3.1. Market Drivers
- 3.1.1. Increasing vehicle production
- 3.1.2. Superior properties of performance elastomers
- 3.1.3. Rising awareness and demand in various industries
- 3.2. Market Challenges
- 3.2.1. High production costs
- 3.2.2. Environmental concerns
- 3.3. Market Opportunities
- 3.3.1. Advancements in high-performance elastomers
- 3.3.2. Adoption in various end-use industries
- 3.3.3. Government regulations promoting the use of performance elastomers
Chapter 4. Global Performance Elastomer Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
- 4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
- 4.3. Top investment opportunity
- 4.4. Top winning strategies
- 4.5. Disruptive Trends
- 4.6. Industry Expert Perspective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Performance Elastomer Market Size & Forecasts by Type 2022-2032
- 5.1. Segment Dashboard
- 5.2. Global Performance Elastomer Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Nitrile-based Elastomers
- 5.2.2. Silicone Elastomers
- 5.2.3. Fluoroelastomers
- 5.2.4. Others
Chapter 6. Global Performance Elastomer Market Size & Forecasts by End-Use Industry 2022-2032
- 6.1. Segment Dashboard
- 6.2. Global Performance Elastomer Market: End-Use Industry Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Automotive and Transportation
- 6.2.2. Healthcare
- 6.2.3. Industrial Machinery
- 6.2.4. Building and Construction
- 6.2.5. Electrical and Electronics
- 6.2.6. Others
Chapter 7. Global Performance Elastomer Market Size & Forecasts by Region 2022-2032
- 7.1. North America Performance Elastomer Market
- 7.1.1. U.S. Performance Elastomer Market
- 7.1.1.1. Type breakdown size & forecasts, 2022-2032
- 7.1.1.2. End-Use Industry breakdown size & forecasts, 2022-2032
- 7.1.2. Canada Performance Elastomer Market
- 7.1.2.1. Type breakdown size & forecasts, 2022-2032
- 7.1.2.2. End-Use Industry breakdown size & forecasts, 2022-2032
- 7.2. Europe Performance Elastomer Market
- 7.2.1. UK Performance Elastomer Market
- 7.2.1.1. Type breakdown size & forecasts, 2022-2032
- 7.2.1.2. End-Use Industry breakdown size & forecasts, 2022-2032
- 7.2.2. Germany Performance Elastomer Market
- 7.2.2.1. Type breakdown size & forecasts, 2022-2032
- 7.2.2.2. End-Use Industry breakdown size & forecasts, 2022-2032
- 7.2.3. France Performance Elastomer Market
- 7.2.3.1. Type breakdown size & forecasts, 2022-2032
- 7.2.3.2. End-Use Industry breakdown size & forecasts, 2022-2032
- 7.2.4. Spain Performance Elastomer Market
- 7.2.4.1. Type breakdown size & forecasts, 2022-2032
- 7.2.4.2. End-Use Industry breakdown size & forecasts, 2022-2032
- 7.2.5. Italy Performance Elastomer Market
- 7.2.5.1. Type breakdown size & forecasts, 2022-2032
- 7.2.5.2. End-Use Industry breakdown size & forecasts, 2022-2032
- 7.2.6. Rest of Europe Performance Elastomer Market
- 7.2.6.1. Type breakdown size & forecasts, 2022-2032
- 7.2.6.2. End-Use Industry breakdown size & forecasts, 2022-2032
- 7.3. Asia-Pacific Performance Elastomer Market
- 7.3.1. China Performance Elastomer Market
- 7.3.1.1. Type breakdown size & forecasts, 2022-2032
- 7.3.1.2. End-Use Industry breakdown size & forecasts, 2022-2032
- 7.3.2. India Performance Elastomer Market
- 7.3.2.1. Type breakdown size & forecasts, 2022-2032
- 7.3.2.2. End-Use Industry breakdown size & forecasts, 2022-2032
- 7.3.3. Japan Performance Elastomer Market
- 7.3.3.1. Type breakdown size & forecasts, 2022-2032
- 7.3.3.2. End-Use Industry breakdown size & forecasts, 2022-2032
- 7.3.4. Australia Performance Elastomer Market
- 7.3.4.1. Type breakdown size & forecasts, 2022-2032
- 7.3.4.2. End-Use Industry breakdown size & forecasts, 2022-2032
- 7.3.5. South Korea Performance Elastomer Market
- 7.3.5.1. Type breakdown size & forecasts, 2022-2032
- 7.3.5.2. End-Use Industry breakdown size & forecasts, 2022-2032
- 7.3.6. Rest of Asia Pacific Performance Elastomer Market
- 7.3.6.1. Type breakdown size & forecasts, 2022-2032
- 7.3.6.2. End-Use Industry breakdown size & forecasts, 2022-2032
- 7.4. Latin America Performance Elastomer Market
- 7.4.1. Brazil Performance Elastomer Market
- 7.4.1.1. Type breakdown size & forecasts, 2022-2032
- 7.4.1.2. End-Use Industry breakdown size & forecasts, 2022-2032
- 7.4.2. Mexico Performance Elastomer Market
- 7.4.2.1. Type breakdown size & forecasts, 2022-2032
- 7.4.2.2. End-Use Industry breakdown size & forecasts, 2022-2032
- 7.4.3. Rest of Latin America Performance Elastomer Market
- 7.4.3.1. Type breakdown size & forecasts, 2022-2032
- 7.4.3.2. End-Use Industry breakdown size & forecasts, 2022-2032
- 7.5. Middle East & Africa Performance Elastomer Market
- 7.5.1. Saudi Arabia Performance Elastomer Market
- 7.5.1.1. Type breakdown size & forecasts, 2022-2032
- 7.5.1.2. End-Use Industry breakdown size & forecasts, 2022-2032
- 7.5.2. South Africa Performance Elastomer Market
- 7.5.2.1. Type breakdown size & forecasts, 2022-2032
- 7.5.2.2. End-Use Industry breakdown size & forecasts, 2022-2032
- 7.5.3. Rest of Middle East & Africa Performance Elastomer Market
- 7.5.3.1. Type breakdown size & forecasts, 2022-2032
- 7.5.3.2. End-Use Industry breakdown size & forecasts, 2022-2032
Chapter 8. Competitive Intelligence
- 8.1. Key Company SWOT Analysis
- 8.2. Top Market Strategies
- 8.3. Company Profiles
- 8.3.1. 3M Company
- 8.3.1.1. Key Information
- 8.3.1.2. Overview
- 8.3.1.3. Financial (Subject to Data Availability)
- 8.3.1.4. Product Summary
- 8.3.1.5. Market Strategies
- 8.3.2. BASF SE
- 8.3.2.1. Key Information
- 8.3.2.2. Overview
- 8.3.2.3. Financial (Subject to Data Availability)
- 8.3.2.4. Product Summary
- 8.3.2.5. Market Strategies
- 8.3.3. Daikin Industries Ltd.
- 8.3.3.1. Key Information
- 8.3.3.2. Overview
- 8.3.3.3. Financial (Subject to Data Availability)
- 8.3.3.4. Product Summary
- 8.3.3.5. Market Strategies
- 8.3.4. Dow
- 8.3.5. DuPont de Nemours, Inc.
- 8.3.6. Exxon Mobil Corporation
- 8.3.7. Mitsui Chemicals Inc.
- 8.3.8. Solvay S.A.
- 8.3.9. Wacker Chemie AG
- 8.3.10. Zeon Chemicals L.P.
- 8.3.11. Arlanxeo
- 8.3.12. Momentive
- 8.3.13. Tosoh Corporation
- 8.3.14. Avient Corporation
- 8.3.15. Denka Performance Elastomer
Chapter 9. Research Process
- 9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
- 9.2. Research Attributes
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