The global demand for Automotive Elastomer Market is presumed to reach the market size of nearly USD 108.7 BN by 2030 from USD 60.95 BN in 2022 with a CAGR of 7.5% under the study period of 2023 - 2030. Regarding volume, the market was calculated XX Kilo Tons in 2022 and forecast to touch XX Kilo Tons by 2030 with a CAGR of XX% during 2023-2030.
Automotive elastomers are specialized rubber-like materials that are used in various applications within the automotive industry due to their unique properties and performance characteristics. Elastomers are a class of polymers that have high flexibility and elasticity, allowing them to stretch and return to their original shape without permanent deformation. Automotive elastomers are designed to meet specific requirements in terms of durability, temperature resistance, sealing, damping, and vibration isolation in automotive components.
The automotive industry increasingly focuses on improving fuel efficiency and reducing emissions by scaling down the weight of the vehicle. Elastomers are used in various lightweight applications, such as seals, gaskets, and suspension components, due to their low density and high flexibility. The demand for automotive elastomers is expected to increase as automakers continue to prioritize lightweight strategies. Global automotive production has been steadily increasing due to rising population, urbanization, and economic growth in emerging markets. The demand for automotive elastomers is directly linked to automotive production, as elastomers are widely used in various automotive applications. The growth in automotive production, particularly in regions such as Asia, Pacific Region and Latin America, is expected to support the demand for automotive elastomers.
Governments and regulatory agencies around the world are imposing strict regulations on emissions and safety in the automotive industry. Automotive elastomers play a crucial role in meeting these regulations by providing sealing and damping properties that contribute to the overall performance and safety of vehicles. The increasing focus on emissions reduction, vehicle safety, and occupant comfort is expected to drive the demand for high-performance elastomers in automotive applications. The automotive elastomer market is constantly evolving with advancements in materials science and technology. Product innovation in terms of new elastomer materials and formulations is expected to drive the demand for automotive elastomers as it enables the development of more advanced and high-performance automotive components. Consumers are increasingly demanding vehicles with improved comfort and reduced noise, vibration, and harshness (NVH).
Automotive elastomers are used in suspension components, weatherstripping, and other applications to provide damping and vibration isolation properties, contributing to improved ride comfort and reduced NVH levels. As consumer expectations for comfort and NVH reduction increase, the demand for automotive elastomers with superior performance characteristics is expected to grow. The increasing electric and hybrid vehicles adoption rate is driving the automotive elastomers' demand in new applications. Electric and hybrid vehicles require specialized elastomers for components such as battery seals, electrical connectors, and motor mounts due to their unique operating conditions and requirements. The electric and hybrid vehicles market growth is expected to provide opportunities for the automotive elastomer market to expand in the coming years. The automotive aftermarket, which includes the replacement and repair of automotive components, is growing globally. Automotive elastomers are used in various aftermarket applications, such as replacement seals, gaskets, and hoses. The expansion of the automotive aftermarket, driven by factors such as vehicle aging, repair and maintenance needs, and DIY (do-it-yourself) culture, is expected to contribute to the demand for automotive elastomers.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of automotive elastomer. The growth and trends of Automotive Elastomer Industry provide a holistic approach to this study.
This section of the automotive elastomer market report provides detailed data on the segments by analyzing them at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
- Natural Rubbers (NR)
- Butyl Elastomers (IIR)
- Butadiene (BR) (Polybutadiene) Elastomers
- Ethylene-Propylene (Epm/Epdm) Elastomers
- Polyisoprene (IR) Elastomers
- Nitrile (NBR) Elastomers
- Silicones (Q)
- Polychloroprene (CR) (Neoprene) Elastomers
- Acrylic (ACM) Elastomers
- Styrene Black Copolymers (SBC)
- Thermoplastic Polyolefins
- Thermoplastic Polyurethanes
- Thermoplastic Vulcanizates
- Thermoplastic Copolyesters
- Thermoplastic Polyether Block Amides
This section covers the regional outlook, which accentuates current and future demand for the Automotive Elastomer market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Automotive Elastomer Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the automotive elastomer market include Arlenxeo (The 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). This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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