LONDON, Feb. 7, 2017 /PRNewswire/ --
"The growing use of elastomers in the automotive industries is a key factor for the growth of the elastomers market"
The global elastomers market size (2016–2021) is estimated to reach USD 92.36 billion by 2021, at a CAGR of 4.6% from 2016 to 2021. The growth of the market can be attributed to the increasing adoption of elastomers across applications, such as automotive, medical, and industrial, owing to their properties including superior mechanical properties, chemical resistance, and high heat stability. However, high processing cost of elastomers is may restrain the growth of market.
"Medical is expected to be the fastest-growing application segment of the elastomers market"
Medical is expected to be the fastest-growing applications segment, in terms of volume & value of the elastomers market. Elastomers are being rapidly adopted to in the medical application, as they possess outstanding fungus resistance, low temperature flexibility, tensile strength, acid/base resistance, fluid resistance, excellent hydrolytic stability, easy sterilization, and excellent translucency. These properties make them suitable for a wide range of applications, such as drug patches, gas supply, drug delivery, medical bags, wound dressing, chest drainage, peristaltic pump catheters, surgical instruments, valves, needleless syringes, ventilation bags, stoppers, vial caps, and bottles.
"The rising demand from various application is expected to drive the elastomers market in Asia-Pacific"
Asia-Pacific is expected to be the fastest-growing market for elastomers market, in terms of value and volume. High economic growth rate, growing manufacturing industries, cheap labor, increasing foreign investments, and rise in the adoption of elastomers across applications, such as medical, automotive, and industrial applications are some of the major factors expected to fuel the growth of the market in the region. China, India, Japan, and Taiwan are key markets for elastomers in Asia-Pacific.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted.
The breakdown of primary interviews is given below.
- By Company Type - Tier 1 - 40%, Tier 2 – 40%, and Others - 20%
- By Designation - C level - 10%, Director level - 50%, and Others - 40%
- By Region - Asia-Pacific - 40%, North America - 30%, Europe - 20%, the Middle East & Africa - 6%, and South America - 4%
The key companies profiled in this market research report are BASF SE (Germany), The Dow Chemical Company (U.S.), JSR Corporation (Japan), E. I. du Pont de Nemours and Company (U.S.), Lanxess AG (Germany), Zeon Corporation (Japan), Kuraray Co. Ltd. (Japan), Covestro AG (Germany), Nizhnekamskneftekhim PJSC (Russia), and Teknor Apex Company (U.S.)
This report covers the elastomers market, in terms of value as well as volume, and forecasts the market size till 2021. The report includes the market segmentation based on type (SBR, IIR, PBR, NBR, ACM EPM, PERA, SBC, TPO, TPU, TPV), application (automotive, medical, consumer goods, industrial, and others), and region (Asia-Pacific, Europe, North America, the Middle East & Africa, and South America). The regions have been further segmented based on key countries into China, India, Japan, South Korea, Thailand, Malaysia, Indonesia, the U.S., Canada, Mexico, Germany, the U.K., Spain, France, Russia, Italy, Brazil, Saudi Arabia, and Africa. The report also provides company profiles and competitive strategies adopted by the key players in the elastomers market.
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the elastomers market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
2. It will help stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
3. It will help stakeholders to understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes new product developments, agreements, collaborations & joint ventures, expansions, and mergers & acquisitions.
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