Global Elastomers Market Outlook to 2026

Elastomer is rubbery material composed of long chainlike molecules or polymers that can recover their original shape after being stretched to great extents. They are lightly cross-linked and amorphous with a glass transition temperature well below room temperature. Factors such as rising transportation activities and a rise in the sales of electric vehicles, coupled with the rising need for high-performance and lightweight materials in vehicle production, is expected to drive the market. In addition to these,growing demand from the medical devices and healthcare sector has played a significant role in the market on account of increasing healthcare expenditures, technological development in the field of medical science, growing aging population, and chronic diseases further drive the market for Elastomersglobally. However, variability in cost is likely to restrain the studied market during the forecast period.

Asia-Pacific is expected to lead the market due to the presence of a large manufacturing basein countries including China, India, Japan, Thailand, and Indonesia. China, during the forecast period, is likely to witness growth in the adoption of electric buses, as nearly 30 Chinese cities have made plans to achieve 100% electrified public transit by 2020, including Guangzhou, Dongguan, Zhuhai, Foshan, and Zhongshan in the Pearl River Delta, along with Nanjing, Hangzhou, Shaanxi, and Shandong. Moreover, other countries such as India, Malaysia, and others are expected to witness increased demand for electronics products and consumer durables mainly due to increasing disposable income. The growingmiddle-class population contributes to the high demand for used products.

Increasing Demand for Styrenic Block Copolymers (TPS) is expected to drive the market. Styrenic block copolymers (TPS) are high-performance materials that are more rubber-like than other thermoplastic elastomers. In terms of volume, these constitute the largest family of thermoplastic elastomers (TPE). In 2019, China became one of the largest styrenic block copolymer markets worldwide. The country is one of the leading footwear producers in the world, followed by India and other Asia-Pacific countries. The footwear industry consumes a significant amount of rubber and elastomers, including styrene block copolymers (especially SBS). Thus, this is likely to increase the demand for the market over the forecast period.

In the year 2019, the market wasfound to behighly fragmented. Some of the key players in the market are BASF SE, JSR Corporation, Lanxess AG, Huntsman International LLC, and The Dow Chemical Company

In December 2019, PolyOne introduced new bio thermoplastic elastomers for over-molding. The product portfolio has the new grades highlight easy color ability, an essential requirement for cosmetics packaging, personal care products, and consumer electronics.

GlobalElastomers Marketreport provides deep insight into the current and future state of the Elastomers market across various regions.The study comprehensively analyzes theElastomers market by segmenting based on geography, by type (Thermoset, Thermoplastic), By End-user (Industrial, Automotive, Medical, Consumer goods, and Others). The report examines the market drivers and restraints that are influencing the growth in detail. The study covers & includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with profiles of major companies including their market shares and projects.