GVR Report cover Elastomers Market Size, Share & Trends Report

Elastomers Market Size, Share & Trends Analysis Report By Application (Consumer Goods, Medical, Automotive, Industrial), By Type (Thermoplastics, Thermosets), By Region, And Segment Forecasts, 2020 - 2025

  • Report ID: GVR-2-68038-786-5
  • Number of Report Pages: 102
  • Format: PDF, Horizon Databook
  • Historical Range: 2014 - 2018
  • Forecast Period: 2020 - 2025 
  • Industry: Bulk Chemicals

Industry Insights

The global elastomers market size was valued at USD 82.41 billion in 2019 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.8% from 2020 to 2025. Elastomers are elastic polymers, which are lightly cross-linked and are amorphous along with glass transition temperature. They can be classified as thermoplastic, diene, and non-diene. Thermoplastic Elastomers (TPEs) including SBS and SIS block copolymers contain rigid and soft repeat units. Elastomeric parts are produced through three major production techniques, which include injection molding, compression molding, and transfer molding.

Rising demand from key application areas coupled with advancements in the processing technologies is likely to propel the market growth during the forecast period. Elastomers are witnessing high demand from the automotive industry on account of the rising need for high-performance and lightweight materials in vehicle production. Key properties, such as high durability, strength, and pliability, allow it an ideal material for a variety of applications in the automotive sector.

U.S. Elastomers Market

The product is used in the manufacturing of puncture-resistant seals, protection of wires and cables, and for better impact-resistance in vehicle interiors. This factor is also likely to drive the overall market throughout the forecast years. Growing population and per capita income levels in Asia Pacific are boosting the automobile sector, which, in turn, will have a positive impact on the market.

Moreover, the availability of cheap labor and other resources in Asia Pacific region is supplementing the growth of automotive manufacturing. This is also expected to contribute significantly to product demand. The region is witnessing heavy investments from key automotive companies, such as BMW AG, Fiat Automobiles S.p.A, Ford Motor Company, Mazda Motor Corporation, Nissan Motor Company Ltd., and Jaguar Cars Ltd., which will drive the industry further augmenting the product demand.

Elastomers Market Trends

Elastomers are witnessing augmented demand from the automotive industry because of the massive demand for high-performance, lightweight materials. Key properties such as pliability, strength, and high durability allow varied applications of elastomers in the automotive industry, such as manufacturing wires & cables, puncture-resistant seals, and providing impact resistance in vehicle interiors. Thus, these unique properties of elastomers are likely to push the overall market growth throughout the forecasted period.

Thermoplastic elastomers are gaining wide adoption in the medical industry owing to their extensive applications in manufacturing medical devices. The most excellent thermoset replacement has been observed in the medical sector, where TPEs have substituted nearly all medical stoppers and gaskets due to their superb molding and high insulation properties. TPEs are moldable and can fill gaps, and their utmost flexibility has created a greater demand for these products.

The elastomers are witnessing a growing demand from the construction industry due to their excellent resilience, impact strength, high elongation, tear resistance, and abrasion resistance, making them useful in primary applications in the construction industry. The primary applications in the construction industry include expansion joints, window & weather seals, road markings, artificial turf, window & door frames, wall coverings, carpeting, waterproofing, weather stripping, roofing membranes, and bitumen modification. The use of TPE and TPU elastomers in the building & construction industry increases the durability of the construction space, offers good mechanical performance, and better UV protection with improved aesthetics.

The global elastomer market is witnessing extensive research & development activities by elastomer manufacturers to strengthen their competitive presence, which can act as a driving factor contributing to its market growth. In March 2018, Elastocon TPE Technologies launched a new medical-grade elastomer, namely, Elastocon 8068N and 8028N. These can be processed through injection molding, over-molding, and extruded molding. The products are odorless, flexible, UV stable, and have a high surface finish.

Newer product developments across the elastomer market are expected to provide massive growth avenues for the end-users. The applications of elastomers are also likely to expand to more contemporary industries, thus creating lucrative growth opportunities for the elastomer suppliers.

The thermoplastic type elastomers tend to lose their elasticity at high temperatures. They also tend to undergo creep, i.e., deform under the influence of temperature and sustained pressure limiting their market growth in high temperatures applications. This can pose a restraining factor for the market growth of elastomers.

Crude oil, a commodity that sees large price fluctuations due to supply and demand factors, natural disasters, seasonal variations, and other influencers, ultimately creates a price impact on its by-products, such as plastic polymers. Primary raw materials such as styrene copolymers and ionomers used in thermoplastic elastomers manufacturing depend on petrochemical prices. The volatility in petrochemical prices is expected to challenge global thermoplastic elastomers market growth over the forecast period.

Application Insights

Automotive was the largest application segment in 2018. Elastomers witness high demand in the automotive segment. Rapidly expanding the global automobile industry coupled with stringent regulations regarding toxic emissions is creating lucrative growth opportunities for the global elastomers market. Key Tier 1 component suppliers, as well as constructors, are using elastomers for downsizing their product weight and size. Moreover, rising need to reduce carbon emissions as well as fuel consumption is anticipated to boost the product demand further.

Medical is expected to be the fastest-growing application segment during the forecast period. Wide usage of TPEs in the medical application segment, such as in medical gaskets and stoppers, due to their high insulation and molding properties than thermosets will drive the segment. Moreover, TPEs are moldable to fill all sorts of gaps and are high flexibility, which has created a larger demand for these products as substitutes for previously popular thermosets.

Type Insights

Thermosets were estimated as the largest product type segment and accounted for a revenue share of 69.2% in 2019. The segment is anticipated to maintain its dominance over the forecast period on account of diverse applications of thermosets across several industries. They are cost-effective materials that offer excellent aesthetic appearance and aid in improving the mechanical properties of materials by enhancing the structural integrity as well as heat and chemical resistance. They are also used in the manufacturing of sealed products owing to their resistance to deformation.

Global Elastomers Market

Thermoplastic elastomers are rubber-like compounds that offer superior electrical properties coupled with excellent toughness, flexibility, and surface aesthetics. These compounds have thermal stability and perform exceptionally even under extremely low temperatures. Furthermore, TPEs withstand tear and abrasion and have great tensile properties. The products do not require any pre-dying and are free of PVCs and phthalate esters. They are also costlier than thermosets.

Regional Insights

The Asia Pacific was the largest revenue-generating region in 2019. The market in this region is anticipated to grow further during the forecast period owing to increasing automotive production, including electric vehicles in Indonesia, India, Thailand, and China. Steady GDP growth rate, income growth, and government support further drive automotive production in these countries. Moreover, growing urbanization and rapid industrialization to support the growing population in these countries are moving the construction and manufacturing industries. This, in turn, is contributing to the global market development.

Elastomers Market Trends by Region

The growing middle-class population, cheaper availability of labor, and other resources are augmenting the growth of the automotive manufacturing industry in the Asia Pacific, which is expected to contribute significantly to the demand for the global elastomers market. The region is also witnessing investments from key automotive manufacturers such as Jaguar Cars Limited, Nissan Motor Company Ltd, Mazda Motor Corporation, Ford Motor Company, Fiat Automobiles S.p.A, and BMW AG.

China is characterized by high demand and high production of elastomers, mainly thermoplastic elastomers. The growth of the elastomers market in China is majorly attributed to the massive consumption from the footwear industry. The industry is also planning to expand its production capacity, which could weaken considerable demand for the U.S.‘s exports of elastomers.

North America was the second largest region accounting for global elastomer market share in terms of revenue and volume in 2019. Easy adaptability of elastomers in various applications isis anticipated to positively drive market growth over the forecast period. The industry players are executing extensive research & development activities to develop effective processing methodologies to produce newer elastomer blends and gain competitive strength.

The U.S. is a significant contributor to the demand for the overall elastomer market in North America. Companies in the country, such as Midwest Elastomers, Inc. and Advanced Elastomer Systems, are developing new products by investing heavily in R&D activities to cater to the growing product demand. Automakers across the U.S. use TPV to manufacture lightweight and fuel-efficient vehicles by replacing traditional heavy parts such as Bellows and sleeves, Gaskets, Cable jacketing, Air ducts, HVAC parts, and others.

Europe is amongst the matured region of the global elastomers market and is expected to grow substantially over the forecast period. Key demand drivers of elastomers in the area include favorable growth in automotive manufacturing and massive foreign investments in the manufacturing sectors.

Key Companies & Market Share Insights

Key companies in the global market include LG Chem. Ltd.; Arkema, Inc.; PolyOne Corporation; Covestro AG; E. I. du Pont de Nemours and Company; The Dow Chemical Company; and Huntsman International LLC. The industry participants are undergoing extensive research & development activities to develop newer blends and effective processing methodologies to gain competitive strength. In August 2018, Trelleborg Sealing Solutions launched a new custom elastomer, designed especially for HTHP wellhead tubing and hanger sealing applications.

Elastomers Market Report Scope

Report Attribute


Market size value in 2020

USD 86.18 Billion

Revenue forecast in 2025

USD 109.23 Billion

Growth rate

CAGR of 4.8% from 2020 to 2025

Base year for estimation


Historical data

2014 - 2018

Forecast period

2020 - 2025

Quantitative units

Revenue in USD Million, Volume in Units & CAGR from 2020 to 2025

Report coverage

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

Segments covered

Type, application, and region

Regional scope

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

Country scope

U.S.; Canada; Mexico; Germany; France; U.K.; Italy; China; India; Japan; South Korea; Thailand; Brazil; Saudi Arabia

Key companies profiled

BASF SE; JSR CORPORATION; Lanxess AG; Huntsman International LLC; The Dow Chemical Company; E. I. du Pont de Nemours and Company; Covestro AG; PolyOne Corporation; Arkema Inc.; LG Chem. Ltd.

Customization scope

Free report customization (equivalent to up to 8 analyst working days) with purchase. Addition or alteration to country, regional, and segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Global Elastomers Market Segmentation

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global elastomers market report on the basis of type, application, and region.

Global Elastomers Market Segmentation

  • Type Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

    • Thermoset

    • Thermoplastic

  • Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

    • Automotive

    • Medical

    • Consumer Goods

    • Industrial

    • Others

  • Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

    • North America

      • The U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • France

      • U.K.

      • Italy

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

      • Thailand

    • Central & South America

      • Brazil

    • Middle East & Africa

      • Saudi Arabia

gvr icn


gvr icn

This FREE sample includes data points, ranging from trend analyses to estimates and forecasts. See for yourself.

gvr icn


We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. Contact us now

Certified Icon

We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure. For more details, please read our privacy policy.