Global Elastomers Market is Estimated to Reach $45 Thousand Kilotons by 2025
Global Elastomers Market report published by Accurize Market Research forecast that the global market is expected to reach $45 thousand kilotons by 2025; growing at a CAGR of 4.2% from 2017 to 2025. By geography, the Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
Rapidly growing automotive industry and the upsurge in use of elastomers in automotive applications to drive the growth of the market
The rapidly growing automotive industry, upsurge in the use of elastomers in automotive and other applications and increasing investments on developing new products fuel the demand for the global elastomers market. Furthermore, the growing use of elastomers as additives in industries such as electronics, consumer goods, and healthcare also boosts the growth of the market.
The global elastomers market has been bifurcated on the basis of polymer type, application, and geography. The polymer type segment is segmented as thermoplastic elastomers and thermoset elastomers. The application segment includes tires & automotive and others. By geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW).
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Top players in the market
The key market players include Arkema S.A., Basf Se, Celanese Corp., Chase Corp., China Petroleum & Chemical Corporation, Cnpc, Covestro Ag, Denka, Dow Chemical Co., Dupont, Evonik Industries, ExxonMobil and Goodyear Tire & Rubber Co. among others.