Automotive Elastomers Market Share 2019, Global Analysis, Industry Opportunity, Price Trend, Size Estimation, Growth Development and Forecast 2023
Global Automotive Elastomers Market Research Report, By Type, Application, Vehicle Type and Regions – Forecast to 2023
Pune, India – June 24, 2019 /MarketersMedia/ —
Market Insights:
Market Research Future (MRFR) forecasts that the Global Automotive Elastomers Market to touch market valuation worth USD 45,618.21 million by 2023. It also predicts the market to grow rapidly over the assessment period of 2016-2023.
The rapid industrialization and increase in urbanization are spurring the need for transportation. Furthermore, the rising environmental concern is stimulating the need for increased production of electric vehicles. Governments, across the world, are taking initiatives to launch more effective automobiles. This, in turn, is gaining traction for research and developmental investments. Hence, contributing to the expansion of the automobile market that has extensive applications of elastomers. It is used mostly used as sealants, adhesives, and flexible molded parts. The growing world population is triggering the number of passenger cars sales. Hence, the flourishing automobile market is identified as a major cause for that is expected to bolster the Automotive Elastomers Market Growth over the assessment period. The increase in the standard of living due to the hike in disposable income is another factor anticipated to fuel the Automotive Elastomer Market Growth.
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On the downside, the manufacturing cost can pose a threat to the amplification of the Automotive Elastomer Market Growth.
Market Players:
ARLANXEO, Kuraray Co., Ltd., Exxon Mobil Corp., LG Chem Ltd., Mitsui Chemicals Inc., Teknor Apex Company, Inc., BASF SE, Solvay, Kraiburg TEP GmbH & Co. Kg, JSR Corporation, Dow Chemical Company, Sumitomo Chemical Co Ltd, and others.
Segmental Analysis:
The Segmental Study of the Automotive Elastomers Market provides a concise understanding of the market based on Vehicle Type, Application and Type.
Based on the Type, the market has been segmented into thermoplastic elastomers (TPE) and thermoset elastomers (TSE). The TPE segment is further narrowed down to polyether block amide (PEBA), copolyamides (COPA), thermoplastic vulcanizates (TPV), thermoplastic olefins (TPO), thermoplastic polyurethane (TPU), copolyesters (COPE), and styrene block copolymer (SBC). The TSE segment is classified into polybutadiene rubber (BR), nitrile butadiene rubber (NBR), acrylic rubber (ACM), fluoroelastomers, styrene butadiene rubber (SBR), ethylene propylene diene monomer (EPDM), silicone rubber (Q), butyl rubber (IIR), natural rubber, and chlorinated elastomers.
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Based on the Application, the market has been segmented into interior, exterior, and tire. The tire segment is estimated to secure 61.4% share of the market. The interior segment is narrowed down to instruments and soft touch panels, dash boards, transmission and conveyor belts, door panels, breaks and suspensions, hoses and seals, seatings, and airbags. The exterior segment is classified into bumper fascia, front end body panel, roof molds and window shields, and rocker panel.
Based on the Vehicle Type, the market has been segmented into medium & heavy commercial vehicle (M/HCV), passenger cars, and light commercial vehicle (LCV).
Regional Overview:
Geographically, Global Automotive Elastomers Market has been segmented into Europe, Latin America, North America, Asia Pacific, and the Middle East & Africa.
Asia Pacific is to be at the forefront in the Automotive Elastomers Market. The hike in disposable income in developing economies like Japan, India, and China is expected to boost the regional market growth. Also, the enhanced living standard of people in the region is expected to trigger the market growth. Additionally, the presence of influential market players in Asia Pacific is anticipated to provide a fillip to the regional Automotive Elastomers Market.
The Automotive Elastomers Market in Europe, after Asia Pacific, is to hold the second largest market share. North and Latin America to follow the lead. MRFR identified the Middle East & Africa region is to hold the least market share over the evaluation period.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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