Pune, India, May 2019, MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on the Global Specialty Elastomers Market.
The improved application of specialty elastomers in a variety of products drives the intensifying expansion of the market. Reports that evaluate the chemicals and material industry have been made accessible by Market Research Future, which generates reports on several industry verticals that review the market growth and prospects. The market is expected to exhibit a CAGR of 6.50% roughly in the course of the forecast period.
The increased level of construction activities globally is expected to create a positive outlook for the development of the specialty elastomer market. The increased focus on sustainability of materials in terms of its recyclability is anticipated to spur the progress of the market. The need for durable and impact resistant materials is expected to further reinforce the growth of the specialty elastomer market in the forecast period.
The segmental review of the specialty elastomer market is conducted on the basis of application, product, and region. On the basis of product, the specialty elastomer market is segmented into thermoplastic elastomers (TPE) and thermosetting elastomer. The thermoplastic elastomers (TPE) segment further comprises of thermoplastic polyurethane (TPU), thermoplastic olefin (TPO), styrene block copolymer (SBC) and thermoplastic vulcunizate (TPV). The thermosetting elastomer (TSE) is segmented into butyl rubber, styrene butadiene rubber (SBR), nitrile rubber, polybutadiene rubber (PBR), ethylene propylene rubber (EPM), and others. Based on the application, the specialty elastomer market is segmented into medical, automotive, building & construction, electrical & electronics, consumer goods, industrial, and others. Based on the regions, the specialty elastomer market comprises of North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America.
The synchronization achieved in terms of the micro and macro growth factors is projected to strengthen the market’s expansion further. The amplified demand levels prevailing in the market are expected to induce a sustainable business environment fostering constructive progress. The favorable alignment of the consumer buying patterns is expected to increase the rate of advancement of the market. The positive shift in regulations in the market is anticipated to create a conducive environment for progress in the coming years. The incidence of favorable market prospects is anticipated to further create profitable growth outcomes in the market. A significant ascent in the number of promoters in the market is estimated to craft a beneficial state of affairs for the development of the market in the projected period. The market is expected to exhibit an increased growth momentum due to the presence of positive market growth indicators.
The outstanding contenders in the Specialty Elastomer Market are The DOW Chemical Company (U.S.), JSR Corporation (Japan), Teknor Apex (U.S.), LG Chem. (South Korea), BASF SE (Germany), LANXESS AG (Germany), Covestro AG (Germany), Zeon Corporation (Japan), KURARAY CO., LTD. (Japan), and Exxon Mobil Corporation (U.S.), amongst others.
The regional evaluation of the specialty elastomer market covers regions such as North America, Asia Pacific, Europe, Africa, Latin America, and the Middle East. The Asia Pacific region is the main and the fastest mounting region in the specialty elastomer market. The region is flourishing due to has the expansion of its infrastructural projects and the revival of the footwear making industry, which is estimated to drive the demand for specialty elastomer in this region. Moreover, the continually growing automotive industry and electronics industry in this region is likely to support the development of the regional market in the forecast period. The North American region is following the Asia Pacific region and is the second most noteworthy region in the specialty elastomer market. The growing number of end users in several applications of specialty elastomers such as reconstruction activities and the automotive sector is a key factor directing the growth of regional specialty elastomer market. The European region has also established a substantial presence in the specialty elastomer market. The automobile industry in this region powers the demand for the elastomers. The Middle East and African region are projected to escalate at a substantial CAGR due to the high investment potential and rising end-user industries such as sports and construction. The Latin American region controls a minimum share of the specialty elastomer market.
Browse Full Report: Specialty Elastomers Market