GVR Report cover Automotive Elastomers Market Size, Share & Trends Report

Automotive Elastomers Market Size, Share & Trends Analysis Report By Type (Thermoplastic, Thermoset), By Application (Tire, Non-tire), By Region, And Segment Forecasts, 2021 To 2028

  • Published Date: ---
  • Base Year for Estimate: 2020
  • Report ID: GVR452043
  • Format: Electronic (PDF)
  • Historical Data: 2017 - 2019
  • Number of Pages: 0

The global automotive elastomers market is projected to grow on account of incessant production of vehicles around the world. Though, automotive sector has witnessed negative trend in recent past, high volume automotive production is projected to assist the elastomers market growth. In addition, rising inclination of consumer masses towards electric vehicles is anticipated to further assist the market growth of elastomers over the predicted timeline.

Elastomers are polymers with low young’s modulus and weak intermolecular forces. They are resistant to melting and thus find application in automobiles. Elastomers based on butadiene polymers are widely used in automotive components, among these include nitrile-butadiene (NBR) and styrene-butadiene (SBR). NBR is used in numerous application areas such as fuel and oil components. While SBR is used in commercialized applications such as tire production.

Automotive Elastomers Market Segmentation

Segments

Details

Type

Thermoplastic Elastomers; Thermoset Elastomers

Application

Tire; Non-tire

Region

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

 

Development of specialty and high-performance elastomer applications is likely to provide new avenues for market vendors. Production of efficient engines for small cars require elastomers, wherein they find application in engine rear crankshaft seals. These products were first used in Europe and currently used as commercially for small engine cars. Numerous U.S. companies also use these types of elastomers for engine seal applications.

On the basis of type, the automotive elastomers market has been segmented into thermoplastic and thermoset elastomers. Thermoplastic elastomers (TPEs) are now increasingly used in automotive applications for replacement of flexible polyvinyl chloride and vulcanized rubber. Growing concerns regarding environment is projected to fuel the demand for TPEs.

In automotive sector, stringent regulations have forced automakers to improve the vehicle efficiency by reduction of greenhouse gas emissions. For this, automakers are focusing on making vehicles lighter by means of using lightweight materials such as TPEs, aluminum, and advanced high strength steel among others. Environmental impact including reduction of CO2 and NOx gas emissions to improve recyclability, energy saving, and productivity is projected to fuel the demand for TPEs.

Some of the thermoplastic elastomers (TPEs) used in automotive sector includes Thermoplastic Polyolefins (TPO), Thermoplastic Polyurethane (TPU), Styrene Block Copolymer (SBC), Thermoplastic Polyester Elastomers (TPC), Thermoplastic Vulcanizates (TPV) and Polyether Block Amide (PEBA). Easy availability of these products along with their cost-effectives is projected to remain a key contributor for the growth of the segment.

TPEs have properties such as high tear resistance, high tensile strength and thermoplastic process-ability, shock absorption, slip resistance and compression resistance. Automotive industry is one of the largest consumers of TPEs owing to resistance to high temperatures as well as abrasion and chemical resistance. These products are excellent choice for vibration dampeners, bumper stops, shock-absorbing seals and other weather-stripping elements.

Thermoset elastomers segment is anticipated to achieve lucrative growth over the forecast period. These elastomers include synthetic and natural rubber. Synthetic rubber is further classified into Styrene-Butadiene Rubber (SBR), Butyl Rubber (IIR), Nitrile Butadiene Rubber (NBR), Neoprene Rubber / Polychloroprene Rubber (CR), Poly Butadiene Rubber (BR), Ethylene Propylene Diene Monomer (EPDM), Polyisoprene Rubber (IR), Silicone (Q) Elastomers and Fluoroelastomers among others.

In terms of application, the market has been categorized into tire and non-tire application. Tires are made using natural and synthetic elastomers, which provides them durability and flexibility on the road. Non-tire applications include seals & gaskets, vibration damping products, windshield vipers, instrument panels, and gaskets for side mirrors, cables, and wires among others.

Asia Pacific is projected to remain the fastest growing market over the long term. Currently, Asia Pacific leads the regional market owing to more than 60% of share in global vehicle production. Leading vehicle producing countries in Asian region includes China, Japan, South Korea, and India. As per the International Organization of Motor Vehicle Manufacturers (OICA), these countries jointly accounted for share of around 51.8% in 2020.

Electric vehicles (EVs) are projected to provide numerous opportunities for market vendors, owing to stringent emission regulations imposed by government bodies. Government in different countries are also focusing on expansion of electric vehicles market; subsidies for consumers and producers, rising fuel costs and decreasing battery prices are anticipated to remain key growth factors for EVs.

Rising production costs along with fluctuations in raw material prices may affect the competition in global market. Some of the vendors in global automotive elastomers include Zeon Corporation, Dow, Arlenxeo, DuPont, JSR Corporation, Exxonmbil, LG Chem, BASF, SABIC, and Teknor Apex. 

Automotive Elastomers Market Report Scope

Report Attribute

Details

Base year for estimation

2020

Historical data

2017 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Type, application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; Germany; Italy; UK; France; Russia; China; India; Japan; South Korea; Australia; Brazil; Chile; Saudi Arabia

Customization scope

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