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Global Elastomer Market - Forecasts from 2021 to 2026

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  • 118 Pages
  • September 2021
  • Region: Global
  • Knowledge Sourcing Intelligence LLP
  • ID: 5457557
The global elastomer market is projected to witness a CAGR of 3.74% during the forecast period to reach a market size of US$90.185 billion by 2026, increasing from US$69.744 billion in 2019. Elastomer is a rubbery material composed of long chainlike molecules, or polymers, that are capable of recovering their original shape after being stretched. They are elastic and flexible in nature, amorphous in structure. They play an essential and ubiquitous role in day-to-day life due to their prominent features. Some of their applications include automobiles, consumer products, construction, industrial products, wires and cables, and medical products.

What drives the market? - characteristics and uses

Elastomers provide strong abrasion resistance and impermeability, due to which these are increasingly finding applications in the adhesive sector. These properties make them useful in capping distilled water, dairy products, fruit juices, sports drinks, beer, wine, and food, cosmetics, toiletries, and pharmaceutical packaging, sterilized closures, seals, and liners, syringe plungers, gaskets, grips, and bumpers.

Its unique properties and a vast range of applications in several industries create avenues for elastomers in several markets. They are a highly demanded product and thereby a large global market which is projected to grow over time. Moreover, innovations and new product launches make the market even more viable.

Geographically, the Asia-Pacific region is expected to capture the major market share due to the advancement in industrial production especially the automobile industry. By end-user, the automotive industry will hold a larger share, while consumer electronics will be another significant sector. By materials used, synthetic rubber is more popularly used because of its availability and cost. However, as economies continue to make sustainable choices, the shift to natural rubber has been observed. By type, thermoplastic elastomers have the highest market share due to their properties and applications.

Growth Factors

Uses in Motor Industry

The automobile industry is one of the biggest consumers of the elastomers market. It is used in the vehicle's interior, exterior, as a sealant, under the hood for gaskets, wires and pipes, decoration and protection, and most importantly, for manufacturing tires. It is one of the key raw materials of the industry. The demand is expected to surge up with innovations and the burst of the electronic vehicles market. Due to properties such as lightweight, ease-of-processing, greater design freedom, versatility, and ability to be recycled, they are predominantly used in the automotive industry. Their usage and versatility will fuel a high growth in the market.

Other industrial applications

Because of the viscosity and elasticity, elastomers have seeped their way into a varied range of applications. Synthetic elastomers made from petroleum products are used throughout the oil and gas industry including seals, hoses, wipers, custom rubber products, etc. Depending on the specific plant, elastomers are used in a wide range of industrial applications, like conveyor belts, insulations, coverings. Elastomers are used in the agriculture industry at every stage, from herd management to food production. For example, elastomers make up the gaskets, seals, hoses, and dampeners that are used in tractors and other agricultural vehicles. Healthcare facilities use a huge variety of elastomers at every level. Elastomers are often chosen for sterility, biocompatibility, and low leaching levels. Gloves, implants and prosthetics, catheters, tubes use elastomers. These applications help grow the elastomers market widely.


The shift to environmentally conscious products which are biodegradable in nature may hinder the market growth of elastomers. The synthetic elastomers are non-biodegradable which detrimentally affects the soil and air quality posing threats for animals, plants, and human beings. This has led to a shift to alternative products curbing the market growth. Moreover, the high cost of manufacturing synthetic rubbers also limits market growth.

COVID–19 Impact On The Global Elastomer Market

The pandemic has slowed down the growth of several industries like automobiles, electronics, consumer products, and others, due to several restrictions and social distancing measures imposed. The elastomers market has seen a negative impact of the pandemic due to shortage of raw materials, unavailability of workers. The distribution channel has also been limited due to several international restrictions and quotas. The downturn of the automobile industry has had a harmful effect on the elastomer market.

But as the production of medical gears, protective kits, gloves, and masks increased by leaps and bounds during the current scenario, a new prospect of the market grew. Though it cannot be conclusively concluded if this will sustain in the long run.

Competitive Insights

The market leaders for the Global Elastomer Market are Saudi Armco, Mitsui Chemicals, Inc, Covestro, LyondellBasell Industries Holdings B.V., INEOS, ATP Elastomers, AkzoNobel NV, Braskem S.A., Innospec, DuPont, and Grando. The key players in the market implement growth strategies such as product launches, mergers, and acquisitions, etc. to gain a competitive advantage over their competitors. For Instance,
  • In 2020, Mitsui Chemicals Inc, acquired COTEC GmbH, an anti-reflective and hydrophobic maker.
  • Covestro in 2021 acquired Resins & Functional Materials business (RFM) from the Dutch company Royal DSM. And also developed a sustainable cast elastomer solution that enables the offshore industry to reduce its environmental impact and carbon footprint in 2020
  • LyondellBasell Industries Holdings B.V. signed a definitive agreement with Sasol in a joint venture in 2020. Through the JV, LyondellBasell will acquire 50% of Sasol's 1.5 MM ton ethane cracker, 0.9 MM ton low and linear low-density polyethylene plants along with associated infrastructure for $2 billion. The JV will be known as Louisiana Integrated PolyEthylene JV LLC.


By Type

  • Thermoset
  • Thermoplastic

By Material

  • Natural Rubber
  • Synthetic Rubber

By End-Use Industry

  • Consumer Electronics
  • Automotive
  • Construction
  • Packaging
  • Healthcare
  • Others

By Geography

  • North America
  • USA
  • Canada
  • Mexico
  • South America
  • Brazil
  • Argentina
  • Others
  • Europe
  • UK
  • Germany
  • France
  • Spain
  • Others
  • Middle East and Africa
  • Saudi Arabia
  • Israel
  • Others
  • Asia Pacific
  • Japan
  • China
  • South Korea
  • India
  • Indonesia
  • Taiwan
  • Thailand
  • Others

Table of Contents

1. Introduction
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
2.2. Assumptions
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter's Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Powers of Buyers
4.3.3. Threat of Substitutes
4.3.4. The Threat of New Entrants
4.3.5. Competitive Rivalry in Industry
4.4. Industry Value Chain Analysis
5. Global Elastomer Market by Type
5.1. Thermoset
5.2. Thermoplastic
6. Global Elastomer Market by Material
6.1. Natural Rubber
6.2. Synthetic Rubber
7. Global Elastomer Market by End-Use Industry
7.1. Consumer Electronics
7.2. Automotive
7.3. Construction
7.4. Packaging
7.5. Healthcare
7.6. Others
8. Global Elastomer Market by Application
8.1. Food
8.2. Beverage
8.3. Animal Feed
8.4. Others
9. Global Elastomer Market by Geography
9.1. Introduction
9.2. North America
9.2.1. United States
9.2.2. Canada
9.2.3. Mexico
9.3. South America
9.3.1. Brazil
9.3.2. Argentina
9.3.3. Others
9.4. Europe
9.4.1. Germany
9.4.2. France
9.4.3. United Kingdom
9.4.4. Spain
9.4.5. Others
9.5. The Middle East and Africa
9.5.1. Saudi Arabia
9.5.2. UAE
9.5.3. Israel
9.5.4. Others
9.6. Asia Pacific
9.6.1. China
9.6.2. India
9.6.3. South Korea
9.6.4. Taiwan
9.6.5. Thailand
9.6.6. Indonesia
9.6.7. Japan
9.6.8. Others
10. Competitive Environment and Analysis
10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrative
10.3. Mergers, Acquisition, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix
11. Company Profiles
11.1. Saudi Armco
11.2. Mitsui Chemicals, Inc
11.3. Covestro
11.4. LyondellBasell Industries Holdings B.V.
11.5. INEOS
11.6. ATP Elastomers
11.7. AkzoNobel NV
11.8. Braskem S.A.
11.9. Innospec
11.10. DuPont
11.11. Grando Group

Companies Mentioned

  • Saudi Armco
  • Mitsui Chemicals, Inc
  • Covestro
  • LyondellBasell Industries Holdings B.V.
  • ATP Elastomers
  • AkzoNobel NV
  • Braskem S.A.
  • Innospec
  • DuPont
  • Grando Group



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