High Temperature Elastomers Market Size, Share, Key Players, Growth and Business Opportunities

The Society of Industrial Automobile Manufacturers (SIAM) reveals that a total of 22,652,108 vehicles will be produced in India in the financial year 2020–2021. Furthermore, the International Organization of Motor Vehicle Manufacturers (OICA) states that China, Indonesia, and Brazil will produce 19,994,081 units, 551,400 units, and 1,608,870 units of cars, respectively, in 2020. The surging automobile production in these emerging economies is creating a huge requirement for high temperature elastomers, due to their surging use in hoses, boots, gaskets, boots, and dampers. This is due to the high flexibility, durability, and resistance to heat offered by such elastomers.

Request for sample pages of this report: https://www.psmarketresearch.com/market-analysis/high-temperature-elastomers-market/report-sample

Additionally, the expanding applications of such elastomers in the healthcare, aerospace, transport, electrical, and oil and gas industries will aid the high temperature elastomers market to progress at a CAGR of 7.0% during 2018–2023. The market was valued at $9,991.7 million in 2017 and it is projected to generate $14,951.4 million revenue by 2023. For instance, the transportation sector uses high temperature elastomers in the production of tires, rubber, and seat covers. Whereas, the healthcare, consumer goods, and electronics industries use these elastomers as additives.

Currently, the aforementioned high temperature elastomers are being manufactured by Dow Corning Corporation, Daikin Industries Ltd., The Chemours Company, KCC Corporation, RTP Company, Solvay S.A., Shin-Etsu Chemical Co. Ltd., Momentive Performance Materials Inc., 3M Company, and Wacker Chemie AG. These companies are focusing on promoting the use of such elastomers in end-use industries through advertisements and campaign programs, owing to the accelerating urbanization rate and strengthening economy in developing countries, such as India, China, Brazil, and Indonesia.

Nowadays, high temperature elastomer manufacturing companies are focusing on the development of advanced variants. Thus, such companies are heavily investing in research and development (R&D) processes to develop new products and expand the application base of such substances. Moreover, the rising need for new and advanced polymers with unique properties, owing to the transforming manufacturing sector, will also encouraging the elastomer producers to invest in R&D. The requirement for advanced variants can be achieved by improved control of molecular structure, formulation of existing polymers types, and copolymerization.

Browse full report at: https://www.psmarketresearch.com/market-analysis/high-temperature-elastomers-market

According to P&S Intelligence, the Asia-Pacific (APAC) high temperature elastomers market is expected to accelerate at the highest rate in the upcoming years. This can be credited to the presence of a large number of electrical and electronics manufacturers, surge in construction activities, and rapid economic growth, in the region. Moreover, the expanding manufacturing sector in India and China will also create a huge requirement for high temperature elastomers in APAC.

Thus, the booming automobile industry and the widening application base of high temperature elastomers in the healthcare, aerospace, oil and gas, and transport industries will augment the market growth in the coming years.

Contact:
P&S Intelligence
Phone: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com

About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

This release was published on openPR.