Automotive Elastomers Market Poised for Steady Growth to USD 51.4 Billion by 2030, Driven by Lightweighting and Electrification Trends | DataM Intelligence

The Global Automotive Elastomers Market reached US$ 32.5 billion in 2022 and is expected to reach US$ 51.4 billion by 2030, growing at a CAGR of 5.3% during the forecast period 2023-2030. This sustained growth is propelled by the global automotive industry's relentless pursuit of vehicle lightweighting to improve fuel efficiency and meet emissions regulations, the rising adoption of electric vehicles (EVs) requiring specialized components, and the superior performance of elastomers in noise, vibration, and harshness (NVH) management.

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Asia-Pacific Key Industry Developments (Largest Region)
• November 2025: LG Chem Ltd. broke ground on a new thermoplastic polyolefin (TPO) elastomers plant in Yeosu, South Korea. The expansion is specifically aimed at supplying the burgeoning Chinese and Southeast Asian EV markets, providing lightweight, paintable materials for large exterior panels like bumper fascias and rocker panels.
• October 2025: Mitsui Chemicals, Inc. unveiled a new line of MILASTOMERTM series thermoplastic vulcanizates (TPVs) at K 2025 in Düsseldorf, engineered for low fogging and low VOC emissions. These grades are targeted at premium interior applications in vehicles produced for the Chinese and Japanese markets, where cabin air quality standards are becoming increasingly stringent.
• September 2025: Kumho Petrochemical Co., Ltd. received a mass-volume qualification from a major Chinese EV manufacturer for its solution-polymerized styrene-butadiene rubber (SSBR). The material will be used in the production of low-rolling-resistance tires for a new platform of electric sedans, highlighting the critical link between advanced elastomers and EV range optimization.

North America Key Industry Developments (Fastest Growing Region)
• November 2025: Dow announced the commercial launch of its SILASTICTM LCX series of liquid silicone rubbers (LSR) at its new application development center in Michigan. Formulated specifically for Electric Vehicle (EV) battery sealing and high-voltage cable insulation, these materials are designed to meet stringent OEM requirements for flame retardancy and long-term performance in demanding thermal environments.
• October 2025: ExxonMobil Corporation and Zeon Corporation entered a joint development agreement to scale up production of bio-based butyl rubber at a facility on the U.S. Gulf Coast. The partnership aims to create a dedicated supply of sustainable halogenated butyl rubber, a critical material for EV tire inner liners, helping automakers reduce the carbon footprint of their tires.
• September 2025: Avient Corporation expanded its reSoundTM REC portfolio with a new grade of post-consumer recycled (PCR) thermoplastic elastomer (TPE) containing 50% PCR content. Launched at the SPE Automotive TPO Conference, this material targets interior skins and soft-touch components, directly responding to OEM mandates for increased recycled content in vehicle cabins.

Key Mergers and Acquisitions:
✅ Trinseo Completes Acquisition of Heathland B.V.: Global materials solutions provider Trinseo finalized its acquisition of Heathland B.V., a Dutch collector and recycler of post-consumer and post-industrial plastic wastes. This move is a direct strategic investment to secure a feedstock pipeline of recycled materials, which are increasingly demanded by automakers for sustainable elastomer and plastic compounds.

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Market Segmentation Analysis
-By Application: Non-Tire Segment is the Market Leader
The Non-Tire application segment is the dominant force, holding a 51.5% market share. This leadership is due to the extensive use of elastomers throughout the vehicle, including critical components like seals, gaskets, hoses, interior trim, underhood parts, and noise insulation. The growth of this segment is directly tied to vehicle production volumes and the increasing elastomer content per vehicle for comfort and performance.
While the Tire segment represents a massive volume market, its growth is more closely linked to replacement tire demand and fleet size. Innovations here focus on fuel-efficient tire formulations and sustainable materials.

-By Type: Thermoplastic Elastomers (TPEs) Hold Major Share
Thermoplastic Elastomers (TPEs) account for over 40% of materials used in automotive production. Their dominance is due to excellent versatility, recyclability, ease of processing, and a favorable strength-to-weight ratio. They are extensively used in interior components, exterior trim, and under-the-hood applications.
Synthetic Rubbers like EPDM, Nitrile, and Silicone remain irreplaceable for specific high-performance applications requiring extreme temperature resistance, fluid compatibility, and long-term durability, such as sealing systems and coolant hoses.

Growth Drivers:
1. Vehicle Lightweighting Imperative: Stringent global emission regulations (Euro 7, CAFE standards) compel automakers to reduce vehicle weight. Elastomers, being lighter than many metals and other plastics, are crucial in replacing heavier materials in both interior and exterior components.
2. Electric Vehicle (EV) Revolution: The rapid growth of the EV market creates new, demanding applications for elastomers, including battery sealing pads, cable insulation, quiet damping components for electric powertrains, and specialized seals that handle different thermal cycles.
3. Demand for Enhanced Passenger Comfort and NVH Reduction: Consumer demand for quieter, more refined cabins increases the use of elastomers in sound-deadening pads, engine mounts, bushings, and seals that reduce noise, vibration, and harshness.
4. Shift Towards Sustainable and Circular Materials: Automotive OEMs and tier-1 suppliers are setting ambitious sustainability targets. This drives demand for elastomers made from recycled content (post-consumer or post-industrial), bio-based feedstocks, and materials designed for easier end-of-life recyclability.
5. Recovery and Growth of Global Automotive Production: As the automotive industry recovers from pandemic and supply chain disruptions, increased production of passenger and commercial vehicles directly translates into higher volume demand for all automotive components, including elastomers.

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Regional Insights
Asia-Pacific is the largest market, a position anchored by its role as the "world's factory" for automobiles, with massive production in China, Japan, South Korea, and India. The region's growth is further fueled by rising vehicle ownership, increasing disposable incomes, and government policies promoting electric mobility.
North America is the fastest-growing market. Growth is driven by a resurgence in automotive manufacturing, significant investments in electric truck and SUV platforms, and a strong consumer preference for larger vehicles that extensively use elastomers in sealing, trim, and comfort features.

Key Players:
The major global players in the market include LG Chem Ltd., BASF SE, ExxonMobil Corporation, Lanxess AG, Zeon Corporation, Kumho Petrochemical Co., Ltd., Dow, Mitsui Chemicals, Inc., SABIC (Saudi Basic Industries Corporation) and Avient Corp.

Key Highlights (Top 5 Key Players):
1. BASF SE is a global leader in polyurethane and engineering elastomers. Its strength lies in a comprehensive portfolio for nearly every automotive application, from lightweight polyurethane systems for interior foams to high-performance elastomers for under-the-hood and drivetrain components, backed by strong R&D.
2. Dow is a powerhouse in silicones and polyolefin elastomers (POE). Its materials are critical for high-temperature resistant seals, adhesives, and lightweight thermoplastic olefin (TPO) compounds used in interior and exterior trim, making it a key supplier for durability and innovation.
3. ExxonMobil Corporation is a leader in synthetic rubber, particularly butyl rubber for tire inner liners and halogenated butyl rubber for tubeless tire inner liners and pharmaceutical stoppers. Its integrated feedstock position provides supply chain stability in a volatile raw material market.
4. Lanxess AG is a specialist in high-performance synthetic rubbers like neoprene and nitrile rubber (NBR), essential for demanding applications such as seals, hoses, and belts that require oil, fuel, and temperature resistance.
5. LG Chem Ltd. is a major force, especially in the Asia-Pacific region, with a strong portfolio of synthetic rubbers, ABS, and other engineering plastics. Its growth is closely tied to the South Korean automotive industry and its expansion into the broader Asian market.

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