Global Elastomers Market 2018-2023: Automotive Markets – The Fastest Growing Segment by Usage

Auto Industry
Wednesday 6th June 2018 , 03:06 ET


DUBLIN, June 6, 2018 /PRNewswire/ –

The “Global Elastomers Market – Segmentation by Product Type, Application, and Geography – Growth, Trends, and Forecast (2018 – 2023)” report has been added to ResearchAndMarkets.com’s offering.

The overall demand for elastomers is expected to grow at a healthy rate during the forecast period, 2018 – 2023

The market is also driven by cost effectiveness and adaptability of elastomers in major end-user markets. Thermoplastic elastomers are expected to show more growth due to the diverse range of its applications and increasing R&D efforts.

Increasing Application from the HVAC Industry

Elastomers have found an increase in use in the heating, ventilation, and air conditioning (HVAC) industry in the recent years, in the form of thermoplastic elastomers (TPE), as they are cost-effective, highly functional, and adaptable. Unitary air conditioners comprise the largest share of total HVAC equipment demand.

The high demand from both, commercial and residential, sectors, will promote the market for the same. TPE also finds application in HVAC systems in automobiles. Japanese auto parts manufacturer, Denso Corporation, used TPE produced by PolyOne for its HVAC system in a recent car model. Such applications have led to the growing use of TPE in HVAC applications. This, in turn, is driving the demand for elastomers market.

Automotive – The Fastest Growing Segment by Usage

Growing demand from automotive industry is the main driver for the elastomers market. It is primarily used in belts and hoses, bellows, gaskets, as instrument panels for soft touch. Around 40% of all products, consumed worldwide, are used in vehicle manufacturing. Therefore, the development of the automotive and transport industries, as well as, their parts, components and OEM suppliers, is an important indicator for the future TPE demand.

Growing demand for lightweight and high-performance plastics in automotive industry, to provide increased efficiency and design flexibility, is primarily responsible for growth of TPE market. High-performance thermoplastic elastomers also offer manufacturers advantage of design and comparable strength of steel, which help in reducing weight and controlling emission of greenhouse gases.

Notable Developments

September 2017: BASF’s polyurethane-based cushioning system powered the latest innovation for runners with the launch of the all-new Brooks Levitate with DNA AMP performance running shoe based on seven years of run research.

Major players include BASF SE, DowDupont, Covestro, Kuraray and Huntsman Corp., among others.

Key Topics Covered:

1. Introduction

2. Executive Summary

3. Market Insight

4. Market Dynamics

5. Market Segmentation and Analysis (Market Size, Growth, and Forecast)

6. Regional Market Analysis (Market Size, Growth, and Forecast)

7. Competitive Landscape

8. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/research/t6nn8f/global_elastomers?w=5

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SOURCE Research and Markets

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