What is Automotive Elastomer?
An elastomer is a polymer with both viscous and elastic properties and it has very weak intermolecular forces. It has notably low young’s modulus and high yield strain compared with other materials. Automobile manufacturers are increasingly shifting from the conventional materials to elastomers and these are used as adhesives, sealants and flexible molded parts in automotive manufacturing. The elastomers are used for seatbacks, door trim, armrests, handles, knobs, airbag doors etc.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Teknor Apex Company, Inc. (United States), BASF SE (Germany), The Dow Chemical Company (United States), Mitsui Chemicals, Inc. (Japan), Kuraray Co., Ltd. (Japan), Solvay (Belgium), Sumitomo Chemical Co. Ltd. (Japan), Kraiburg TPE GmbH & Co. Kg (Germany), LG Chem Ltd (South Korea) and ExxonMobil Corp. (United States) |
CAGR | 5.21% |
The study covers a detailed analysis segmented by key business segments i.e. by type (Thermoset Elastomer {Natural Rubber and Synthetic Rubber} and Thermoplastic Elastomer {Styrene Block Copolymer, Thermoplastic Polyurethane, Thermoplastic Polyolefins, Thermoplastic Vulcanizates, Thermoplastic Polyester Elastomers and Polyether Block Amide}) , by application (Tire and Non-Tire {Interior, Exterior and Under the Hood}) and major geographies. Research Analyst at AMA predicts that Japanese Vendors will contribute to the maximum growth of Global Automotive Elastomer market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Automotive Elastomer market report suggests strategies that Vendors can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Vendors, some of them are Teknor Apex Company, Inc. (United States), BASF SE (Germany), The Dow Chemical Company (United States), Mitsui Chemicals, Inc. (Japan), Kuraray Co., Ltd. (Japan), Solvay (Belgium), Sumitomo Chemical Co. Ltd. (Japan), Kraiburg TPE GmbH & Co. Kg (Germany), LG Chem Ltd (South Korea) and ExxonMobil Corp. (United States).
Market Overview:
In 2020, Solvay taped Vanderbilt Chemicals as new distributors to distribute Tecnoflon® fluoroelastomers (FKM) and perfluoro elastomers (PFR FFKM) in North America and expand its North American Presence. Solvay's Tecnoflon® FKM and PFR FFKM products are highly used for high-heat environments like automotive, industrial, semiconductor, and energy industries. The partnership with Vanderbilt Chemicals will provide broad coverage to its product portfolio in North America.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Influencing Trend:
Demand for Eco-Friendly Automotive Elastomers
Market Growth Drivers:
Rising Sales of Passenger Cars and Stringent Emission Regulations
Challenges:
High Cost Involved In Processing Of High-Temperature Elastomers
Restraints:
Fluctuations in Raw Material Prices
Opportunities:
Growing Preference toward High-Efficiency Automobiles and Development of New Grades of Automotive Elastomers
Key highlights of the Global Automotive Elastomer market Study:
CAGR of the market during the forecast period 2022-2028
In-depth information on growth factors that will accelerate the Automotive Elastomer market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Automotive Elastomer market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Vendors
Comprehensive information about factors that will challenge the growth of Automotive Elastomer Vendors
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Automotive Elastomer market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Automotive Elastomer market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes Automotive Elastomer Manufacturers, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.