The global automotive elastomers market was worth $10,015.2 million in 2015 and it is likely to grow at a CAGR of 5.9% during the forecast period (2016 – 2022). Stringent emission regulations, increasing demand for high-efficiency vehicles, and growth in automotive industry are driving the global automotive elastomers market.
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As per the findings of research, the consumption of synthetic elastomers was higher than thermoplastic elastomers in 2016, however, in terms of value, the thermoplastic elastomers held larger share in the global automotive elastomers market.
Concerns pertaining to environmental pollution have cropped up due to industrial emission and automotive emission that include carbon monoxide and Sulphur Dioxide emitted by vehicles. Increasing extraction and use of conventional fuels such as petroleum products is pushing the demand for vehicles with better fuel efficiency and lower emission.
The global automotive elastomers manufacturers are increasing their capacity to manufacture high performance elastomers. In April 2015, LANXESS AG successfully started their new ethylene propylene diene rubber (EPDM) plant in Changzhou (Jiangsu Province), China. The new plant would manufacture total ten premium grades of EPDM tailored to Chinese and Asian customer needs.
Geographically, Asia-Pacific has been the largest and the fastest growing market for automotive elastomers during 2012 - 2015. Some of the factors driving the growth of the automotive elastomers market in the region include high growth in automotive industry and increasing compliance for lightweight materials. The automotive industry in the region is expected to witness high growth, due to the growing population and increasing income level.
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Some of the other key players in the market include BASF SE, LANXESS AG, E. I. du Pont de Nemours and Company, LyondellBasell Industries N.V., The Dow Chemical Company, Huntsman International LLC, 3M Company, China Petrochemical Corporation, and Kuraray Co. Ltd.
GLOBAL AUTOMOTIVE ELASTOMERS MARKET
By Type
- Thermoplastic Elastomers
- Thermoplastic polyolefin (TPO)
- Thermoplastic vulcanizates (TPV)
- Styrene block co-polymer (SBC)
- Thermoplastic polyurethanes (TPU)
- Co-polyester ether (COPE)
- Polyether block amide (PEBA)
- Synthetic Elastomers
- Styrene butadiene rubber (SBR)
- Ethylene propylene diene monomer (EPDM)
- Nitrile butadiene rubber (NBR)
- Fluoroelastomers
- Chloroprene rubber (CR)
- Silicone rubber
- Exterior
- Interior
- Under hood
- Weather seal
- Molded parts
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- Germany
- France
- U.K.
- Italy
- Rest of Europe
- Rest of the World (RoW)
- Brazil
- Mexico
- Rest of RoW
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