Pune, India -- (SBWIRE) -- 03/16/2018 -- Segmentation

The Global Automotive Elastomers Market is segmented into the type, application and end-use. On the basis of the type, the market is further classified into natural rubber, styrene butadiene rubber, nitrile elastomer, ethylene propylene diene monomer, silicone rubber, fluoroelastomers, styrene block copolymers, thermoplastic polyurethane (TPU), thermoplastic vulcanizates (TPV), and thermoplastic polyester elastomer (TPC) segments. On the basis of application, the market is subdivided into tire and non-tire. On the basis of end-use, the market is segregated into automotive, construction, aviation, footwear, electrical & electronics, and others.

Competitive Analysis

Some of the well-known players operating in the Global Automotive Elastomers Market are BASF SE (Germany), ARLANXEO ( the Netherlands), The Dow Chemical Company (U.S.), Exxon Mobil Corporation (U.S.), DuPont (U.S.), SABIC (Saudi Arabia), 3M ( U.S.), Huntsman International LLC (U.S.), LyondellBasell Industries Holdings B.V. (the Netherlands), and Asahi Kasei Corporation (Japan) among others.

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Automotive Elastomers are used in various applications which are capable of offering excellent flexibility, elongation, tensile strength, wear and tear resistance to the final product. Due to these factors, they are used in various applications such as automotive, construction, aviation, footwear, electrical & electronics, and others. The Global Automotive Elastomers Market is spanned across five regions of the world namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the global market and is projected to continue leading, owing to the increasing consumption of low density materials in automotive, aerospace, construction, and aviation sectors. It is estimated that the construction segment is set to observe the highest CAGR in the market due to the growing use of thermoplastic materials in flooring, windows, and others. Moreover, the increasing demand of lightweight materials in major industries have propelled the market to witness a rapid growth during the forecast period. These factors have led to China, India and Japan to be the major players of this region.

The North America market is expected to grow at a higher CAGR due to extensive consumption of elastomers in automotive, footwear and others. The U.S., Canada and Mexico have achieved a significant place in the market due to the growing investments in the end-use industries. Therefore, the growing demand for flexible materials in construction and medical sectors are estimated to drive the market during the forecast period.

A notable development is achieved in Europe due to implementation of new rules and regulations in the end-use industries. The growing innovation and technological advancement have propelled the market to witness a higher growth. Owing to these factors, countries such as Germany, the U.K and Italy are the major contributors to this market.

A considerable development is predicted in the Latin American region such as in Brazil, Uruguay and Argentina due to the growing consumption of thermoplastic materials in automobiles, industrial and medical sectors. Moreover, a rapid development is estimated in the Middle East & African region such as Qatar, the U.A.E, and others due to increasing demand for biodegradable polymers in major industries.

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