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According to the latest report published by Acute Market Reports, Inc. “Global Elastomers Market – Growth, Future Prospects and Competitive Analysis, 2018 – 2026,” the global elastomers market was estimated at US$ 68.52 billion in 2017, expected to grow at a CAGR of 5.1 percent from 2018 to 2026.
Demand for elastomers driven by increasing elastomer application in various end-use industries such as automotive, consumer goods, healthcare, construction, oil & gas, and many others. The growing automotive sector is currently one of the key factors driving demand for elastomers. Elastomers are widely used in several automotive applications, including automotive tires, radiator hoses, and bumper / fascia. Global demand for automotive tires is expected to maintain an annual CAGR of approximately 4.8 percent to reach 3.76 Bn units by 2021.
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Asia Pacific captured roughly forty percent of the automotive tire market in 2017 due to the large number of passenger vehicles sold in the region, particularly in densely populated countries like India and China. According to the India Brand Equity Foundation (IBEF), India’s automotive industry became the fourth largest in the world with sales topping the 4 million unit mark (exclusive of two wheelers) in 2017. Moreover, in 2016, the country’s volume sales of two-wheelers crossed the 17 million unit mark, making India the world’s largest market for two-wheelers. Furthermore, the rapid growth of the footwear & sports apparel industry is another key factor driving elastomer demand.
Thermoplastic elastomers find wide application in footwear manufacturing. Elastomers are also used in the manufacture of shoe soles. The global footwear sole materials market is expected to cross the US$ 22 billion mark by the end of 2026. Rubber is one of the key materials used in the manufacturing of footwear soles. In addition, the robust growth of the footwear industry has led major companies operating in the elastomers industry to focus extensively on research & development activities to produce new products that would meet the end-use industries. For example, in August 2018, BASF S.E. Launched an advanced grade of thermoplastic polyurethane (TPU) to improve the manufacturing of decorative shoe parts and shoe shanks in high-performance shoes while maintaining exceptional mechanical properties such as UV resistance. The new material was also tuned to automation, allowing the parts to be easily removed from the mold while allowing the decorative parts to be designed more freely.
The elastomer market was segmented based on the type of product, end-use industry and region. Based on product type, thermoset elastomers held a dominant share in 2017, both in terms of value and volume due to the widespread use of rubber in several end-use industries such as automotive, construction and consumer goods among others. Both natural and synthetic rubbers find major applications in the automotive industry, especially for manufacturing tires. Due to high demand for elastomers in several application areas within the automotive industry, the automotive segment held the largest market share in 2017 based on end-use industry. Consumer goods held the second-largest market share in 2017. The consumer goods industry is a fair contributor to the elastomer market’s growth. Elastomers find wide applications, among others, in footwear, gloves, mobile phone accessories and apparel.
Based on the region, Asia Pacific dominated the market in 2017 and also expected to maintain market dominance throughout the forecast period. India, China, and Japan are leading the industry’s growth. The booming consumer goods industry in these countries is one of the key factors responsible for the region’s elastomer market growth. The rapid emergence of low-cost smartphones in India has created a stir among consumers regarding the possession of smartphones, which in turn has led to increased demand for smartphone cases and covers as well. Due to the benefits they offer such as impact protection, pollution protection and dirt, consumer preference for mobile phone covers has increased substantially over the past decade and improves the phones ‘ aesthetic value.
Key players operating in the field of elastomers include BASF S.E., Covestro A.G., Huntsman Corporation, DowDupont Inc., Lanxess A.G., Zeon Corporation, JSR Corporation, Kurara Co. Ltd., Teknor Apex, Evonik Industries, Arkema S.A., ExxonMobil Corporation and various others.
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Chapter 1 Preface 17
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Chapter 2 Executive Summary 23
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Chapter 3 Market Dynamics 27
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Chapter 4 Global Elastomers Market, by Product Type 35
4.1 Overview 35
4.1.1 Global Elastomers Market Value Share, by Product Type, 2017 & 2026 (Value, %) 36
4.1.2 Global Elastomers Market, by Product Type, 2016 – 2026 (Kilo tons) (US$ Bn) 36
4.2 Thermoset Elastomers 37
4.2.1 Global Elastomers Market, by Thermoset Elastomers Type, 2016 – 2026 (Kilo tons) (US$ Bn) 38
4.2.2 Natural Rubber 38
4.2.2.1 Global Elastomers Market, by Natural Rubber, 2016-2026 (Kilotons) (US$ Bn) 39
4.2.3 Synthetic Rubber 39
4.2.3.1 Global Elastomers Market, by Synthetic Rubber Type, 2016 – 2026 (Kilo tons) (US$ Bn) 40
4.2.3.1.1 Styrene Butadiene Rubber 41
4.2.3.1.1.1 Global Elastomers Market, by Styrene Butadiene Rubber, 2016-2026 (Kilo tons) (US$ Bn) 41
4.2.3.1.2 Butyl Rubber 42
4.2.3.1.2.1 Global Elastomers Market, by Butyl Rubber, 2016-2026 (Kilo tons) (US$ Bn) 42
4.2.3.1.3 Butadiene Rubber 43
4.2.3.1.3.1 Global Elastomers Market, by Butadiene Rubber, 2016-2026 (Kilo tons) (US$ Bn) 43
4.2.3.1.4 Nitrile Rubber 44
4.2.3.1.4.1 Global Elastomers Market, by Nitrile Rubber, 2016-2026 (Kilo tons) (US$ Bn) 44
4.2.3.1.5 Ethylene Propylene Rubber 45
4.2.3.1.5.1 Global Elastomers Market, by Ethylene Propylene Rubber, 2016-2026 (Kilo tons) (US$ Bn) 45
4.2.3.1.6 Others (chloroprene rubber, isoprene rubber, etc.) 46
4.2.3.1.6.1 Global Elastomers Market, by Others, 2016-2026 (Kilo tons) (US$ Bn) 46
4.3 Thermoplastic Elastomers 47
4.3.1 Global Elastomers Market, by Thermoplastic Elastomers Type, 2016 – 2026 (Kilo tons) (US$ Bn) 47
4.3.2 Styrene Block Co-polymer 48
4.3.2.1 Global Elastomers Market, by Styrene Block Co-polymer, 2016-2026 (Kilo tons) (US$ Bn) 49
4.3.3 Thermoplastic Polyolefins 50
4.3.3.1 Global Elastomers Market, by Styrene Block Co-polymer, 2016-2026 (Kilo tons) (US$ Bn) 50
4.3.4 Thermoplastic Polyurethane 51
4.3.4.1 Global Elastomers Market, by Thermoplastic Polyurethane, 2016-2026 (Kilo tons) (US$ Bn) 51
4.3.5 Thermoplastic Vulcanizates 52
4.3.5.1 Global Elastomers Market, by Thermoplastic Vulcanizates, 2016-2026 (Kilo tons) (US$ Bn) 52
4.3.6 Others (thermoplastic co-polyester, thermoplastic polyamides, etc.) 53
4.3.6.1 Global Elastomers Market, by Others, 2016-2026 (Kilo tons) (US$ Bn) 53
Chapter 5 Global Elastomers Market, by End-use Industry 54
5.1 Overview 54
5.2 Automotive 57
5.3 Healthcare 58
5.4 Consumer Goods 59
5.5 Construction 60
5.6 Oil & Gas 61
5.7 Others 62
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Chapter 6 Global Elastomers Market, by Geography 63
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Chapter 7 Company Profiles 96
7.1 BASF S.E. 96
7.2 Arkema S.A. 98
7.3 Covestro A.G. 99
7.4 DowDuPont Inc. 100
7.5 Evonik Industries 101
7.6 ExxonMobil Corporation 102
7.7 Huntsman Corporation 103
7.8 JSR Corporation 104
7.9 Kuara Co. Ltd. 105
7.10 Lanxess A.G. 106
7.11 Teknor Apex 107
7.12 Zeon Corporation 108
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Research methodology applied for this study:
Methodology of this research study includes primary and secondary research for defining the market size, shares and forecast for global Elastomers market specific to key segments, and regional segmentation.
a. Secondary Research
Secondary research was initiated with data collected through sources such as press releases, company annual reports, and relevant documents focusing on the current developments in the global Elastomers market. Authentic sources such as university research papers, scientific journals, and government websites were similarly screened for identifying business opportunities in several geographical markets and penetration of various products/services in these geographies. Paid databases were excavated to assemble information beneficial for broad commercial study of the key players operating in Elastomers market. In case lack of data availability on the public domain, we used estimation models to arrive at comprehensive data sets. Secondary research helped to create a firm base to build market size, analyze trends, and understand the dynamics of Elastomers market study.
b. Primary Research
The exhaustive secondary research practiced was supported & validated by extensive primary research. Primary research was carried out with the help of e-mail interactions, telephonic interviews, as well as face-to-face interviews with the leading industry stakeholders.
The participants tracked for primary interviews include:
• Marketing/product managers
• Vice President/ CEOs
• National sales managers
• Market intelligence managers
• Distributors
• Purchasing managers
• Other stakeholders
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