Global Automotive Elastomers Market Expected to Grow at 6% CAGR During 2016 - 2022: P&S Market Research

Jul 04, 2016, 09:30 ET from P&S Market Research

NEW YORK, July 4, 2016 /PRNewswire/ --

According to market research "Global Automotive Elastomers Market Size, Share, Development, Growth and Demand Forecast to 2022 - Industry Insights by Type (Synthetic Elastomer, Thermoplastic Elastomer) by Application (Interior, Exterior, Under Hood, Weather Seal, Molded Parts)" by P&S Market Research, the global automotive elastomers market was valued at $9,238.4 million in 2015, and it is expected to grow at a CAGR of 5.9% during 2016 - 2022.

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The factors driving the growth of the global market include stringent emission regulations, increasing demand for high-efficiency vehicles, high emphasis on lightweight materials and growth in automotive industry. The growth of the global automotive elastomers market is largely driven by high demand for elastomers for interior automotive applications. In addition, the increasing automotive industry in Asia-Pacific is fueling the demand for automotive elastomers in the region.

Between the two types of automotive elastomers, the thermoplastic elastomer segment held the larger share in the global market in 2015. Automotive parts manufactured using thermoplastic elastomers are comparatively lighter, than those created using conventional materials. Among the various applications, the interior segment is anticipated to witness the highest growth during 2016-2022. The stringent regulations leading to the increasing usage of air bags are fuelling the demand for automotive elastomers in interior applications.

In 2015, Asia-Pacific held the largest share in the global automotive elastomers market. The region is also anticipated to be the fastest growing market for automotive elastomers, owing to high growth in automotive industry and increasing compliance for lightweight materials. China dominated the automotive elastomers market in 2015. The automotive elastomers market in North America and Europe is anticipated to witness considerable growth, owing to the well-established automotive industry, stringent emission norms and consumer's preference for high performance vehicles. The U.S. held the largest share in the North American automotive elastomers market in 2015 and it is expected to retain its dominance during the forecast period.

Some of the players operating in the global market include BASF SE, Exxon Mobil Corporation, LANXESS, The Dow Chemical Company, E.I. du Pont de Nemours and Company, Huntsman International LLC, LyondellBasell Industries N.V., 3M Company, China Petrochemical Corporation, and KURARAY CO. LTD.

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By Type 

>Synthetic Elastomers

- Nitrile Butadiene Rubber (NBR)

- Ethylene Propylene Diene Monomer (EPDM)

- Chloroprene Rubber (CR)

- Styrene Butadiene Rubber (SBR)

- Silicone Rubber

- Fluoro Elastomers

> Thermoplastic Elastomers

- Thermoplastic Polyolefin (TPO)

- Thermoplastic Polyurethanes (TPU)

- Styrene Block Co-Polymer (SBC)

- Thermoplastic Vulcanizates (TPV)

- Co-Polyester Ether (COPE)

- Polyether Block Amide (PEBA)

By Application 

  • Interior
  • Exterior
  • Under Hood
  • Weather Seal
  • Molded Parts


By Region 

> North America

- U.S.

- Canada

- Rest of North America


> Europe

- Germany

- U.K.

- Italy

- France

- Rest of Europe


> Asia-Pacific


- India

- Japan

- South Korea

- Rest of Asia-Pacific

> Rest of the World (RoW)

- Brazil

- Mexico

- Rest of RoW

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