Elastomers Market worth 92.36 Billion USD by 2021 | Key Players include BASF SE, The Dow Chemical Company, JSR Corporation, E. I. du Pont de Nemours and Company, Lanxess AG, Zeon Corporation, Kuraray Co. Ltd., Covestro AG, Nizhnekamskneftekhim PJSC, and T

According to recent research "Elastomers Market by Type (Thermoset (Natural Rubber, Synthetic Rubber (SBR, IIR, PBR, NBR, ACM, EPM)), and Thermoplastic (PEBA, SBC, TPO, TPU, TPV)), Application (Automotive, Consumer Goods, Medical, and Industrial) - Global Forecast to 2021", published by MarketsandMarkets™, The market size of elastomers is estimated to grow from USD 73.93 Billion in 2016 to USD 92.36 Billion by 2021, at a CAGR of 4.6% from 2016 to 2021.

Browse 74 market data tables and 43 figures spread through 141 pages and in-depth TOC on “Elastomers Market - Global Forecast to 2021"
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Elastomers are being adopted across various applications, such as automotive, medical, consumer goods, industrial, and others. The growth of the elastomers market is expected to be fueled by the rising demand from various applications and growth of the end use industries.

This report estimates the market size for elastomers and segments the market based on type, application, and region, in terms of value & volume. The elastomers market is projected to grow at a CAGR of 4.6% between 2016 and 2021, in terms of value. The rising adoption of elastomers in various applications, due to its high tensile strength and greater chemical resistance properties, is projected to boost the growth of the market in the coming years.

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New product launches, mergers & acquisitions, collaborations & joint ventures, agreements, and expansions were the key strategies adopted by key industry players to achieve growth in the elastomers market between 2016 and 2021. Factors such as industrial advancements, technological upgradations, and demand for efficient elastomers with excellent physical properties, such as resistance to oil, grease and ozone, impact strength, flexibility at low temperature, and good resilience have led to the rising adoption of elastomers across applications. Elastomers are used in several industries, mostly automotive and medical.

Companies operational in the elastomers market adopted strategies, such as new product launches, expansions, mergers & acquisitions, and agreements to achieve growth in the market. Some of the key players, including 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.) have adopted these strategies to develop their businesses, globally.

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Lanxess AG (Germany) is a leading player in the global elastomers market. As part of its growth strategy, in April 2016, the company entered into a joint venture with Saudi Aramco (Saudi Arabia) to form Arlanxeo (Netherlands) for the production of elastomer and synthetic rubber to expand its product portfolio.

Teknor Apex (U.S.) is another major manufacturer of elastomers in the U.S. and one of the largest producers across the globe. As a part of its business strategy, Teknor Apex focuses on new product development and research. The company focuses on the manufacturing of high quality products by employing state-of-the-art technology, and improving the efficiency of its operations. In November 2016, it introduced a new product in its Sarlink series, Sarlink ML-2355B, which can deliver less viscosity for better moldability. Teknor Apex is focusing on expanding its business globally, through new product development in the elastomers market.

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