Performance Elastomers Market to Surpass $27.88 Billion by 2029 | Key Trends & Insights

Get 30% off global market reports with code ONLINE30 and keep ahead of tariffs, macro trends, and worldwide economic developments.

How Will the Performance Elastomers Market Grow by 2025 in Terms of Size and Growth?
The market size of performance elastomers has seen significant growth in the past few years. The market, which was valued at $16.96 billion in 2024, is expected to rise to $18.55 billion in 2025, revealing a compound annual growth rate (CAGR) of 9.4%. Factors contributing to the historic growth include demand from the automotive and transportation sectors, expansion in the construction and infrastructure industry, advancements in material science, growth in manufacturing and industrial sectors, and applications in the oil and gas industry.

What Are the Estimated Growth Rates for the Performance Elastomers Industry Through 2029?
In the upcoming years, the market size of performance elastomers is predicted to witness swift expansion. The market is projected to increase to a healthy $27.88 billion in 2029, with a compound annual growth rate (CAGR) of 10.7%. The anticipated growth for this period is driven by factors such as the introduction of sustainable and eco-friendly elastomers, the surge in demand for electric cars, the application of elastomers in medical devices, use of elastomeric materials in 3D printing, and infrastructure growth in developing regions. Prominent trends to observe within the forecast period comprise of bio-based and recyclable elastomers, the use of hyperplastic material for diverse applications, smart elastomers designed for IoT devices, the enhancement of elastomers with nanomaterials, and the integration of elastomers in green building materials.

Explore The Complete Report Now:
https://www.thebusinessresearchcompany.com/report/performance-elastomers-global-market-report

What Are the Strategic Drivers Boosting Performance Elastomers Market Performance?
The surge in the performance elastomers market is anticipated to be driven by the escalating demand in the automotive and transport sector. The steady growth of global economies has elevated living standards, leading to higher purchasing power. The outbreak of the COVID-19 pandemic also steered individuals towards safer transportation options that support social distancing, thus stimulating automobile growth. In response to ever-increasing gas prices, a shift towards EV vehicles is evident - a move driven by their cost-effective and efficient nature. The rising demand in the automotive sector has triggered an uptick in the utilization of performance elastomers in vehicles due to their lightweight and immense design flexibility for interior and exterior parts. For instance, in May 2023, the Belgian-based European Automobile Manufacturers Association noted that the global motor vehicle production touched 85.4 million units in 2022, a noteworthy 5.7% growth comparing to 2021. Furthermore, as detailed by Brand Finance Plc, a British firm specializing in brand valuation, in 2022, the auto industry witnessed around 78 million units in sales, representing a significant 10% growth. Therefore, this escalating vehicle production and sales have generated an increase in the usage of performance elastomers, thus stimulating the expansion of the performance elastomers market.

Get Free Sample Report Here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7433&type=smp

What Are the Segments in the Performance Elastomers Market?
The performance elastomers market covered in this report is segmented -

1) By Type: Nitrile-Based Elastomers, Fluoroelastomer, Silicone Elastomers, Other Types
2) By End-Use Industry: Automotive And Transportation, Healthcare, Industrial Machinery, Building And Construction, Electrical And Electronics, Other End-Use Industry

Subsegments:
1) By Nitrile-Based Elastomers: Acrylonitrile Butadiene Rubber (NBR), Hydrogenated Nitrile Butadiene Rubber (HNBR)
2) By Fluoroelastomer: Fluorocarbon Elastomers (FKM), Perfluoroelastomers (FFKM)
3) By Silicone Elastomers: Room Temperature Vulcanizing (RTV) Silicone, High-Temperature Vulcanizing (HTV) Silicone, Liquid Silicone Rubber (LSR)
4) By Other Types: Thermoplastic Elastomers (TPE), Polyurethane Elastomers (PU), Styrene-Butadiene Rubber (SBR)

What Are the Key Adoption Trends in the Performance Elastomers Market?
The emergence of environmentally-friendly, high-performance elastomers is a growing trend within the performance elastomer market. As a result of heightened environmental consciousness, there is a pressing demand for eco-friendly elastomer products in the market. In order to meet this demand, sustainable and bio-based elastomer products have become pivotal. Numerous companies in the performance elastomers field are producing environmentally-friendly and safe elastomers to bolster their market dominance. Highlighting this trend, Dow - a chemical and plastics manufacturer based in the US - created ENGAGE REN in May 2022. This is a plant-based, high-performance polyolefin elastomer used for sustainable footwear. These ENGAGE REN polyolefin elastomers (POEs) are derived from renewable energy and plant-based materials such as used cooking oil. This not only reduces the carbon footprint of the footwear industry but also paves the way for the production of sustainable products of equal quality, such as lightweight foams that demonstrate consistent polymer properties, better abrasion resistance, and comparable hardness.

Customize Your Insights And Get The Full Report Here:
https://www.thebusinessresearchcompany.com/customise?id=7433&type=smp

Which Companies Lead the Competitive Landscape of the Performance Elastomers Industry?
Major companies operating in the performance elastomers market include Du Pont de Nemours, Arlanxeo, Zeon Chemicals LP, Solvay S.A, Dow Corning Corporation, Momentive Performance Materials Inc, Shin-Etsu Chemical Co, LANXESS AG, Huntsman Corporation, Covestro AG, ExxonMobil Chemical, BASF SE, LG Chem Ltd, Kuraray Co, Sumitomo Chemical Co, Mitsubishi Chemical Corporation, Tosoh Corporation, Asahi Kasei Corporation, JSR Corporation, Arkema S, Evonik Industries AG, Cabot Corporation, Trinseo LLC, KRAIBURG TPE GmbH & Co, Teknor Apex Company, RTP Company, PolyOne Corporation

Where Are the Key Performance Elastomers Market Opportunities by Region?
Asia-Pacific was the largest region in the performance elastomers market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the performance elastomers market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Saumya Sahey
Europe: +44 7882 955267,
Asia: +44 7882 955267 & +91 8897263534,
Americas: +1 310-496-7795
Email: saumyas@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.