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Global Automotive Elastomers Market Size, Share, Development, Growth and Demand Forecast to 2022 – Industry Insights by Type (Synthetic Elastomer, Thermoplastic Elastomer) by Application (Interior, Exterior, Under Hood, Weather Seal, Molded Parts)

Published: December 2016 | Available format pdf  | Pages: 159
Report Code : CME1779    

Elastomer is a polymer containing both elasticity and viscosity. These polymers have very weak inter-molecular forces, high failure strain, and low Young’s modulus. These are formed from the monomer linkage, which are made of carbon, oxygen, hydrogen, or silicon. Elastomers are engineered or manufactured for several applications in automotive industry. These are used to for sealing, gasketing, and heat resistant applications. Elastomers exhibit good mechanical properties, good thermal and electrical insulation, and low permeability to water, steam or gas. These polymers help to reduce noise, vibration and harshness; eliminate heat shields; improve airbag.

The global automotive elastomers market was valued at $9,238.4 million in 2015, and it is expected to grow at a CAGR of 5.9% during 2016 - 2022. The stringent emission regulations, increasing demand for high-efficiency vehicles, high emphasis on lightweight materials and growth in automotive industry are driving the growth of the global automotive elastomers market. Automotive industry has witnessed significant growth especially in Asia-Pacific. China and India are the key countries providing huge revenue generation opportunities for automotive industry. With the increasing disposable income, higher spending and urbanisation, significant increase in sales volume of lightweight as well as heavy duty vehicles was witnessed in these countries. The growing automotive industry provides immense revenue generation opportunities for automotive elastomers manufacturers. Manufacturers are investing huge capital to develop automotive elastomers compliant with the industry demands.

Automotive elastomers have versatility in terms of hardness and density, along with excellent physical properties and exceptional durability. The compliance for these materials in automotive industry is increasing, owing to the increasing demand for high performance vehicles. The growing trend of automobile body-customization is propelling the use of automotive elastomers in personal vehicles. Automotive elastomers are used in production of components, such as engine mounts, gaskets, hoses and seals which are required to withstand high temperatures. In addition, elastomers are used for modifying front-end body panels, rear-end bumper fascia, instrument panel components, roof pillar mouldings, side moulding and in interior trim designing, such as knee bolsters, air-bags, rocker panels and soft touch controls.

Between the two automotive elastomer types, the thermoplastic elastomer held the larger share in the global market in 2015. Automotive parts manufactured using thermoplastic elastomers are comparatively lighter than those created using conventional materials.

Asia-Pacific held the largest share in the global automotive elastomers market in 2015. Some of the factors driving the growth of the automotive elastomers market in the region include high growth in automotive industry and increasing compliance for lightweight materials. The automotive industry in the region is expected to witness high growth, due to the growing population and increasing income level. China was the largest market for automotive elastomers in 2015 in the region. The automotive elastomers market in North America and Europe is anticipated to witness considerable growth, owing to the well-established automotive industry, stringent emission norms and consumer's preference for high performance vehicles. The U.S. held the largest share in the North America automotive elastomers market in 2015.

Some of the key players operating in the global market include BASF SE, Exxon Mobil Corporation, LANXESS, The Dow Chemical Company, E. I. du Pont de Nemours and Company, Huntsman International LLC, LyondellBasell Industries N.V., 3M Company, China Petrochemical Corporation, and KURARAY CO. LTD.

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