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Performance Elastomers Market Overview-Forecast Market Size, Top Segments And Largest Region
Performance Elastomers Market
The Business Research Company's Performance Elastomers Global Market Report 2023 identifies Increasing demand in the automotive and transport industry as the major driver for the Performance Elastomers market's growth in the forecast period. Economies worldwide have been steadily growing, which has increased the standard of living, further increasing the purchasing power. The advent of the COVID-19 pandemic also resulted in individuals preferring a safer mode of transportation that promoted social distancing and thus boosted the growth of automobiles.
The global performance elastomers market size grew from $13.79 billion in 2022 to $15.11 billion in 2023 at a compound annual growth rate (CAGR) of 9.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of global performance elastomers is expected to grow to $22.18 billion in 2027 at a CAGR of 10.1%.
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Major competitors in the Performance Elastomers market are Du Pont de Nemours, Arlanxeo, Zeon Chemicals LP, Solvay SA, Dow Corning Corporation, Wacker Chemie AG, Momentive Performance Materials Inc.
A key trend in the Performance Elastomers market includes development of eco-friendly high-performance elastomers. Due to the increased environmental concern, the elastomers market is witnessing the need for eco-friendly elastomer products. Sustainable and bio-based elastomers products are a critical component for achieving these objectives. Many companies operating in performance elastomers are developing eco-friendly and safe elastomers for their clients to strengthen their market position. For instance, in May 2022, Dow, a US-based chemical and plastics manufacturer, developed ENGAGE REN, plant-based high-performance polyolefin elastomers used in sustainable footwear.
Read More On The Global Performance Elastomers Market Report Here:https://www.thebusinessresearchcompany.com/report/performance-elastomers-global-market-report
The Performance Elastomers market is segmented -
• By Type: Nitrile-Based Elastomers, Fluoroelastomers, Silicone Elastomers, Other Types
• By End-Use Industry: Automotive And Transportation, Healthcare, Industrial Machinery, Building And Construction, Electrical And Electronics, Other End-Use Industry
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Performance Elastomers market.
The Business Research Company's "Global Performance Elastomers Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Performance Elastomers Market Include:
1. Executive Summary
2. Performance Elastomers Market Characteristics
3. Performance Elastomers Market Trends And Strategies
4. Performance Elastomers Market - Macro Economic Scenario
5. Performance Elastomers Market Size And Growth
……………………………………………………..
26. Africa Performance Elastomers Market
27. Performance Elastomers Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Performance Elastomers Market
29. Performance Elastomers Market Future Outlook and Potential Analysis
30. Appendix
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