Market Research Future Published a Cooked Research Report on Global Automotive Elastomers Market Research Report – Global Forecast till 2025
Automotive Elastomers are useful for various manufacturing operations. A new report on the Covid-19 Analysis on Automotive Elastomers Market, published by Market Research Future (MRFR), predicts that this market could grow between 2016 and 2023. In terms of value, the market can be worth USD 4,317.10 Mn by the end of the forecast period.
The primal market driving factor for the Global Automotive Elastomers Market growth is the use of Automotive Elastomers as sealants, adhesives, and flexible molded parts in automotive manufacturing. Surging sales of passenger cars in emerging economies have created growth opportunities for Automotive Elastomers. Other market driving factors include increasing purchasing power of the consumers, the rising standard of living, strict emission regulations in developed economies, subsequent increasing usage of high-performance, lightweight materials in the automotive industry, and lastly, the rapid rise in demand for both commercial and passenger vehicles.
Prominent players in the Global Automotive Elastomers Market include Arlanxeo (Netherlands), BASF SE (Germany), The Dow Chemical Company (USA), Exxon Mobil Corp. (USA), Kraiburg TPE GmbH & Co. Kg (Germany), Kuraray Co. Ltd. (Japan), LG Chem Ltd. (South Korea), Mitsui Chemicals Inc. (Japan), Nizhnekamskneftekhim PJSC (Russia), Saudi Basic Industries Corporation (Saudi Arabia), Solvay S.A. (Belgium), Sumitomo Chemical Co. Ltd. (Japan), Teknor Apex Company Inc. (USA), and Versalis S.P.A (Italy).
Latest Industry News:
Mitsubishi Chemical has developed thermoplastics elastomer material called extrusion-grade styrenic copolymer (TPS). It is a single auto-foamable core grade that can be extruded at around 190 to produce foamed-core profiles. 8 AUG 2019
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Global Automotive Elastomers Market segmentation encompasses Application, Type, and Vehicle Type. MRFR’s take on the market explores various facets of the market in-depth.
The Application-Based Segmentation of this market covers exterior application, interior application, and tire application. The exterior segment has been sub-segmented into bumper fascia, front end body panel, rocker panel, and roof molds & window shields. The interior application has been sub-segmented into airbags, breaks & suspensions, dashboards, door panels, hoses & seals, instrument & soft-touch panels, seatings, and transmission & conveyor belts. The tire segment holds 61.4% of the market share.
By Type, the market has been segmented into thermoplastic elastomers (TPE) and thermoset elastomers (TSE). The TSE segment has been sub-segmented into acrylic rubber or alkyl acrylate copolymer (ACM), butyl rubber or isobutylene isoprene rubber (IIR), chlorinated elastomers, ethylene propylene diene monomer (EPDM), fluoroelastomers, natural rubber, nitrile butadiene rubber (NBR), polybutadiene rubber (BR), silicone rubber (Q), and styrene butadiene rubber (SBR). The TPE segment has been sub-segmented into copolyamides (COPA), copolyesters (COPE), polyether block amide (PEBA), styrene block copolymer (SBC), thermoplastic olefins (TPO), thermoplastic polyurethane (TPU), and thermoplastic vulcanizates (TPV).
Based on Vehicle Type, light commercial vehicle (LCV), medium & heavy commercial vehicle (M/HCV), and passenger cars.
A Geographical Outlining of the Global Automotive Elastomers Market covers Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa (MEA).
During the forecast period, the Asia Pacific region has the strongest chance to stand tall as the principal regional market due to the growing standards of living and rising disposable income of the consumers in developing economies namely China, India, and South Korea. These economies are incentivizing automotive production to meet the increasing demand in their respective countries. Japan is another major country-specific market as some important market players in the Asia Pacific region are based in Japan. Indonesia is another sizable country-specific market in this region. An analysis of the remaining countries in the Asia Pacific region featured in this report estimates the huge contribution to market revenue from some other countries.
Europe is the second-largest regional market due to technological advancement and a strong automotive industry in countries like Germany. Some of the key market players are based in Europe. Other critical country-specific markets in this region are France, Italy, Poland, Russia, and the UK. An observation of the remaining countries in Europe featured in this report speculate the huge addition to market revenue from some other countries.
North America is another important regional market due to the strong automotive industry, strong economy, technological advancement, and the presence of most of the key market players. USA and Canada generate maximum revenue in this market.
Latin America and the MEA region, hold the smallest market shares in the global market. Latin America is a bigger market than the MEA region as the automotive industry is stronger in this region. Argentina, Brazil, and Mexico are the biggest country-specific market in this region. An audit of the remaining countries in Latin America featured in this report speculate the huge addition to market revenue from some other countries. In the MEA region, market is limited due to limited scope for the automotive industry. In this region, the biggest country-specific markets are Saudi Arabia, Turkey, and UAE. A scrutiny of the remaining countries in the MEA region featured in this report calculates the increase to market revenue from some other countries.
NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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