Elastomers are unstructured polymers prevailing beyond their glass transition temperatures such that significant motion is possible. Elastomers have very low intermolecular strength, low modulus of elasticity, and high strain of failure as compared to other materials. Carbon, hydrogen, oxygen and silicon monomers link to form the polymer, which eventually forms elastomers. There are two major elastomers used in automotive applications: synthetic and thermoplastic. Automotive elastomers are used in the production of components that need to withstand extreme temperatures such as hoses, insulators, seals, bushes, engine mounts, and gaskets. On the basis of the type of elastomer, the market is segmented into ethylene propylene diene monomer (EPDM), nitrile butadiene rubber (NBR), chloroprene rubber (CR), styrene butadiene rubber (SBR), fluoroelastomers, and silicone rubber under synthetic automotive elastomers. On the other hand, thermoplastic polyolefin (TPO), thermoplastic polyurethanes (TPU), styrene block co-polymer (SBC), thermoplastic vulcanizates (TPV), co-polyester ether (COPE), and polyether block amide (PEBA) are segmented under thermoplastic automotive elastomers. On the basis of their applications in automobiles, the market is segmented into interior applications, exterior applications, under the hood applications, weather sealing applications, and molded parts applications.
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Thermoplastic automotive elastomers have dominated the
automotive elastomers market in the past few years. A similar trend is expected
to continue during the forecast period due to its chemical geometry, which
provides it the flexibility of desired customization. Automotive parts made of
thermoplastic automotive elastomers are lighter as compared to parts made of
synthetic automotive elastomers. This is likely to drive the thermoplastic automotive
elastomers market during the forecast period. Several key
players have introduced specialty grades for synthetic automotive elastomers.
This is expected to propel growth of the automotive elastomers market during
the forecast period. Interior applications such as air bags is expected to be
the fastest-growing application of automotive elastomers due to recent sanctions
levied on automotive manufacturers, which made airbags compulsory for all cars
across the globe. Automotive elastomers being lightweight aid
manufacturers in reducing the overall weight of the vehicle. Introduction of
stringent emission norms and growing preferences toward high-efficiency
automobiles are expected to primarily boost the automotive elastomers market.
Asia Pacific is expected to be the leading regional market
during the next few years on account of growing population in emerging economies
such as China and India. Growth in the automobile industry in China and India
due to rising disposable income is expected to be a key factor propelling the
automotive elastomers market in the region. Europe is anticipated to witness a
similar growth trend owing to presence of well-established automotive industry
in the region. Stringent emission norms in Eurozone are anticipated to boost
the market in Europe. Similarly, the automotive elastomers market in North
America is expected to be driven by emission norms and growing preferences
toward high-efficiency automobiles. Latin America is projected to witness
steady growth during the next few years due to growth in automotive and textile
industries in economies such as Brazil. Middle East and Africa is estimated to
be a highly lucrative regional segment of the automotive elastomers market due
to presence of growing automotive industry and high disposable income in
countries in GCC and South Africa during the forecast period.
Some of the major players in the automotive elastomers
market include BASF SE, LANXESS, The Dow Chemical Company, Exxon Mobil Corporation, E.
I. du Pont de Nemours and Company, Saudi Basic Industries Corporation (SABIC),
3M, Huntsman International LLC, LyondellBasell Industries N.V., Bayer AG, China
Petrochemical Corporation (Sinopec), Kraton Performance Polymers Inc., PJSC
"Nizhnekamskneftekhim", SIBUR, Versalis S.p.A., Momentive, Mitsui
Chemicals, Inc., KURARAY CO., LTD., Asahi Kasei Corporation, TSRC Corporation,
and Sumitomo Corporation.
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