Performance Elastomers Market Analysis

Performance Elastomers Market Analysis

Silicone based products dominated the overall performance elastomers market with over a third of the market share in 2016. Among the different silicone products, the most popular product type was high consistency silicone rubber accounting for over USD 1.5 billion in 2016. Temperature resistance of the product lies close to that of the fluorine based products, including fluoro-silicone and fluorocarbon rubber, and it is available at relatively low price, making it a product of choice among various end-users.
 

Performance thermoplastic elastomers accounted for over a quarter of the global market size and will witness a steady growth throughout the forecast span. This product segment has been further categorized into thermoplastic copolyester (TPE-Co), thermoplastic polyamide (TPE-PA), thermoplastic vulcanizate (TPE-V), and others including aliphatic thermoplastic polyurethane (A-TPE-U), thermoplastic acrylates (TPE-Ac), etc.
 

Fluoroelastomers will be the fastest growing product segment of the global performance elastomers market due to its extremely high thermal and chemical resistance. High product price will characterize the segment as its application in majorly concentrated in the automotive and transportation sector.
 

Automotive & transportation sector is the most dominant end-user industry for the global performance elastomers market accounting for more than half of the overall share. The product can easily withstand high temperatures inside the engine cylinders and can replace metal parts to assist in the overall vehicular weight reduction. These specialty products are used to make various critical OEM as well as replacement parts for automobiles as well as airplanes.
 

Industrial machinery sector accounted for over USD 800 million for the performance elastomers industry in 2016. These products find use in the manufacturing of various equipment and machineries where harsh ambient conditions are prevalent, such as in oil rigs, metalworking and foundry industries, smelting applications, etc.
 

Asia Pacific, driven by the vast manufacturing base in the emerging economies of the region, will hold sway the global performance elastomers market throughout the forecast span. The regional market was worth more than USD 4 billion in 2016 and will have the fastest growth rate in the next seven years. Product demand from various end-user segments in the region will witness immense growth in the near future as local consumer purchase parity increases with the evolving middle class population.
 

North America and Europe had a combined market share of around 40% of the global performance elastomers market in 2016. These regions will witness slow to moderate growth trends and lose their shares to the developing regions such as Asia Pacific and Latin America. This can be accounted to the shift of the manufacturing units towards these regions, driven by low cost labor and lenient government norms.