- Thermoset Elastomers
- Synthetic Rubber
- Styrene Butadiene Rubber
- Butyl Rubber
- Butadiene Rubber
- Nitrile Rubber
- Ethylene Propylene Rubber
- Others (choloprene rubber, isoprene rubber, etc.)
- Natural Rubber
- Thermoplastic Elastomers
- Thermoplastic Polyurethane (TPU)
- Thermoplastic Vulcanizates (TPV)
- Thermoplastic Polyolefins (TPO)
- Styrene Block Co-polymer
- Others (thermoplastic co-polyester, thermoplastic polyamides, etc.)
Elastomers Market size was valued at USD 81.2 billion in 2023 and is expected to reach USD 110.9 billion by 2030, at a CAGR of 6.8% from 2024 to 2030. Some of the key factors influencing the market growth include increasing demand from the automotive industry, growing population and per capita income levels, cost-effectiveness and adaptability of thermoplastic elastomers in major end-users. However, fluctuating prices and the availability of cheap products are hampering the market growth. The major challenge of the market is the high production and maintenance cost of the product. Because of this issue, the elastomers market is facing sluggish growth in the emerging nations. Moreover, the availability of cheaper products further restricts the market growth. This report studies global market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global elastomers market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated competition dashboard to assess the market competition. Moreover, PBI analyzed the global market to better equip clients with possible investment opportunities across the regions (regional Investment hot spots) and market unmet needs (Product opportunities).
Elastomers Market Key Development :
- In May 2021, Avient launched three proprietary, thermoplastic elastomer (TPE) formulations that contain antimicrobial additives to its GLS TPE portfolio. These additives protect molded plastic parts by inhibiting bacterial growth and resisting fungal and mold growth.
- In December 2021, Pexco LLC, a leading North American specialty plastics extruder acquired Performance Elastomers Corporation (PEC) to expanding the silicone and thermoplastic elastomer products and broadening its capabilities
Global Elastomers Market Summary
Study Period
2024-2030Base Year
2023CAGR
6.8%Largest Market
North-AmericaFastest Growing Market
Asia-PacificElastomers Market Dynamics
The automotive industry is the largest end-user for elastomers. Elastomers are primarily used for hoses and belts, gaskets, bellows. Implementation of elastomers reduces the vehicle weight considerably, which turns out to be an optimum step taken as it expands the fuel efficiency and reduces the carbon dioxide emissions. Rising adoption for hybrid and Electric Vehicles (EVs) is influencing the product demand in this application. High-performance elastomers are used in EVs for better fuel-efficiency and reduced carbon emissions. Elastomers have developed as the perfect substitute to PVC and vulcanized rubber which are widely used in the interiors as well as exteriors of a vehicle.
Asia-Pacific Got Significant Share
Elastomers Market Regional Analysis
Asia Pacific accounted for larger revenue share in global elastomers market with considerable CAGR owing to growing automotive production in emerging countries like China, India, and Indonesia and increasing demand for high-quality consumer goods. Further, urbanization and industrialization in these countries is increasing construction and manufacturing industries which will further enhance the market growth.
Latin America
Europe
Asia Pacific
Middle East
North America
Global Elastomers Market Segmentation
By Product Type
By End User
- Automotive
- Healthcare
- Consumer Goods
- Construction
- Oil & Gas
- Others
By Geography
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and
- Africa
- Rest of MEA.
Frequently Asked Questions
The elastomers market size was valued at USD 81.2 billion in 2023
The elastomers market key players are: Bailey-Parks Urethane Inc. (U.S) API S.P.A. (Italy) BASF SE (Germany) Covestro (Germany) I. du Pont de Nemours and Company (U.S.) Huntsman Corp. (U.S) JSR Corporation (Japan) Lanxess AG (Germany) Miracll Chemicals Ltd (China) The Dow Chemical Company (U.S.)
The elastomers market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
Key Features of the Report
- The report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments, and start-up details that are actively working in the market
- The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
| 1. Executive Summary |
| 2. Global Elastomers Market Introduction |
| 2.1. Global Elastomers Market Taxonomy |
| 2.2. Global Elastomers Market Definitions |
| 2.2.1. Type |
| 2.2.2. Process |
| 2.2.3. Application |
| 3. Global Elastomers Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Elastomers Market Dynamic Factors - Impact Analysis |
| 3.6. Global Elastomers Market Competition Landscape |
| 4. Global Elastomers Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Elastomers Market, By Type, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1. Thermoset |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Thermoplastic |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 6. Global Elastomers Market Forecast, By Process, 2019 - 2023 and Forecast, 2024 - 2030 |
| 6.1. Extrusion |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Blow Molding |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Compression Molding |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Injection Molding |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Others |
| 6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 7. Global Elastomers Market Forecast, By Application, 2019 - 2023 and Forecast, 2024 - 2030 |
| 7.1. Consumer Goods |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Automotive |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Medical |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Industrial |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Others |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 8. Global Elastomers Market Forecast, By Region, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia-Pacific |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Latin America |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Middle East and Africa |
| 8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 8.6. Global Elastomers Market - Opportunity Analysis Index, By Type, By Process, By Application and Region, 2024 - 2030 |
| 9. North America Elastomers Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 9.1. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1. Thermoset |
| 9.1.2. Thermoplastic |
| 9.2. Process Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1. Extrusion |
| 9.2.2. Blow Molding |
| 9.2.3. Compression Molding |
| 9.2.4. Injection Molding |
| 9.2.5. Others |
| 9.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 9.3.1. Consumer Goods |
| 9.3.2. Automotive |
| 9.3.3. Medical |
| 9.3.4. Industrial |
| 9.3.5. Others |
| 9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 9.4.1. USA |
| 9.4.2. Canada |
| 9.5. North America Elastomers Market - Opportunity Analysis Index, By Type, By Process, By Application and Country, 2024 - 2030 |
| 9.6. North America Elastomers Market Dynamics Trends |
| 10. Europe Elastomers Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 10.1. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. Thermoset |
| 10.1.2. Thermoplastic |
| 10.2. Process Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1. Extrusion |
| 10.2.2. Blow Molding |
| 10.2.3. Compression Molding |
| 10.2.4. Injection Molding |
| 10.2.5. Others |
| 10.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 10.3.1. Consumer Goods |
| 10.3.2. Automotive |
| 10.3.3. Medical |
| 10.3.4. Industrial |
| 10.3.5. Others |
| 10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 10.4.1. Germany |
| 10.4.2. UK |
| 10.4.3. France |
| 10.4.4. Spain |
| 10.4.5. Italy |
| 10.4.6. Russia |
| 10.4.7. Poland |
| 10.4.8. Rest of Europe |
| 10.5. Europe Elastomers Market - Opportunity Analysis Index, By Raw Material Type, End -Use and Country, 2024 - 2030 |
| 10.6. Europe Elastomers Market Dynamics Trends |
| 11. Asia-Pacific Elastomers Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 11.1. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. Thermoset |
| 11.1.2. Thermoplastic |
| 11.2. Process Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1. Extrusion |
| 11.2.2. Blow Molding |
| 11.2.3. Compression Molding |
| 11.2.4. Injection Molding |
| 11.2.5. Others |
| 11.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 11.3.1. Consumer Goods |
| 11.3.2. Automotive |
| 11.3.3. Medical |
| 11.3.4. Industrial |
| 11.3.5. Others |
| 11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 11.4.1. Japan |
| 11.4.2. China |
| 11.4.3. India |
| 11.4.4. ASEAN |
| 11.4.5. Australia & New Zealand |
| 11.4.6. Rest of Asia-Pacific |
| 11.5. Asia-Pacific Elastomers Market - Opportunity Analysis Index, By Raw Material Type, End-Use and Country, 2024 - 2030 |
| 11.6. Asia-Pacific Elastomers Market Dynamics Trends |
| 12. Latin America Elastomers Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 12.1. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1. Thermoset |
| 12.1.2. Thermoplastic |
| 12.2. Process Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1. Extrusion |
| 12.2.2. Blow Molding |
| 12.2.3. Compression Molding |
| 12.2.4. Injection Molding |
| 12.2.5. Others |
| 12.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 12.3.1. Consumer Goods |
| 12.3.2. Automotive |
| 12.3.3. Medical |
| 12.3.4. Industrial |
| 12.3.5. Others |
| 12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 12.4.1. Brazil |
| 12.4.2. Mexico |
| 12.4.3. Argentina |
| 12.4.4. Rest of Latin America |
| 12.5. Latin America Elastomers Market - Opportunity Analysis Index, By Raw Material Type, End-Use and Country, 2024 - 2030 |
| 12.6. Latin America Elastomers Market Dynamics Trends |
| 13. Middle East and Africa Elastomers Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 13.1. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1. Thermoset |
| 13.1.2. Thermoplastic |
| 13.2. Process Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1. Extrusion |
| 13.2.2. Blow Molding |
| 13.2.3. Compression Molding |
| 13.2.4. Injection Molding |
| 13.2.5. Others |
| 13.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 13.3.1. Consumer Goods |
| 13.3.2. Automotive |
| 13.3.3. Medical |
| 13.3.4. Industrial |
| 13.3.5. Others |
| 13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 13.4.1. Gulf Cooperation Council (GCC) Countries |
| 13.4.2. Israel |
| 13.4.3. South Africa |
| 13.4.4. Rest of MEA |
| 13.5. MEA Elastomers Market - Opportunity Analysis Index, By Raw Material Type, End-Use and Country, 2024 - 2030 |
| 13.6. MEA Elastomers Market Dynamics Trends |
| 14. Competition Landscape |
| 14.1. Strategic Dashboard of Top Market Players |
| 14.2. Company Profiles (Introduction, Financial Analysis, Feedstock Material & Service Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 14.2.1. LG Chem. Ltd. |
| 14.2.2. Arkema, Inc. |
| 14.2.3. PolyOne Corporation |
| 14.2.4. Huntsman International LLC |
| 14.2.5. Covestro AG |
| 14.2.6. E. I. du Pont de Nemours and Company |
| 14.2.7. The Dow Chemical Company |
| 15. Research Methodology |
| 16. Key Assumptions and Acronyms |
- Bailey-Parks Urethane Inc. (U.S)
- API S.P.A. (Italy)
- BASF SE (Germany)
- Covestro (Germany)
- I. du Pont de Nemours and Company (U.S.)
- Huntsman Corp. (U.S)
- JSR Corporation (Japan)
- Lanxess AG (Germany)
- Miracll Chemicals Ltd (China)
- The Dow Chemical Company (U.S.)