Elastomers Market: By Product (Thermoset Elastomers and Thermoplastic Elastomers), By End User (Automotive, Healthcare, Consumer Goods, Construction, Oil & Gas and Others) and Geography  

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Elastomers Market size was valued at USD 79.2 billion in 2022 and is expected to reach USD 109.9 billion by 2029, at a CAGR of 4.8% from 2023 to 2029. 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 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

2024-2030

Base Year

2023

CAGR

4.8%

Largest Market

North-America

Fastest Growing Market

Asia-Pacific
Elastomers 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.

Key Features of the Reports

  • 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

Global Elastomers Market Segmentation

By Product Type
  • 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.)
By End User
  • Automotive
  • Healthcare
  • Consumer Goods
  • Construction
  • Oil & Gas
  • Others

Frequently Asked Questions

The elastomers market size was valued at USD 79.2 billion in 2022

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.

The elastomers market size was valued at USD 79.2 billion in 2022

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.

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, 2018 - 2022 and Forecast, 2023 - 2029
4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%)
4.3. Market Opportunity Analysis
5. Global Elastomers Market, By Type, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) 
5.1. Thermoset
5.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2018 - 2022 and Forecast, 2023 - 2029
6.1. Extrusion
6.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2018 - 2022 and Forecast, 2023 - 2029
7.1. Consumer Goods
7.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) 
8.1. North America
8.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2023 - 2029
9. North America Elastomers Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) 
9.1. Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
9.1.1. Thermoset
9.1.2. Thermoplastic
9.2. Process Analysis 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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, 2023 - 2029
9.6. North America Elastomers Market Dynamics Trends
10. Europe Elastomers Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) 
10.1. Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.1.1. Thermoset
10.1.2. Thermoplastic
10.2. Process Analysis 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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, 2023 - 2029
10.6. Europe Elastomers Market Dynamics Trends
11. Asia-Pacific Elastomers Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) 
11.1. Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.1.1. Thermoset
11.1.2. Thermoplastic
11.2. Process Analysis 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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, 2023 - 2029
11.6. Asia-Pacific Elastomers Market Dynamics Trends
12. Latin America Elastomers Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) 
12.1. Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.1.1. Thermoset
12.1.2. Thermoplastic
12.2. Process Analysis 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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, 2023 - 2029
12.6. Latin America Elastomers Market Dynamics Trends
13. Middle East and Africa Elastomers Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) 
13.1. Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.1.1. Thermoset
13.1.2. Thermoplastic
13.2. Process Analysis 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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, 2023 - 2029
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.)

Adjacent Markets