Global Performance Elastomers (Nitrile-Based, Silicone-Based, Fluoroelastomers) Markets Report 2023: Industry Size, Share, Competition, Trends, Opportunities, and Forecasts, 2018-2022 & 2023-2028

Dublin, Feb. 09, 2023 (GLOBE NEWSWIRE) -- The "Performance Elastomers Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Nitrile-Based, Silicone-Based, Fluoroelastomers, Others), By End Use, By Region and Competition" report has been added to's offering.

Global Performance Elastomers is expected to grow impressively due to the growing demand from the building & construction industry through 2028.

The market's demand for Performance Elastomers is rising due to rapid industrialization across several areas. They are widely utilized in the gas and oil industries for exploration and production as modifiers for plastic and adhesive raw materials.

Moreover, Performance elastomers such as neoprene and silicone are widely used in the electronic and food & beverage sectors due to their exceptional abrasion, impact, water, and flame resistance, as well as their outstanding UV, ozone, and weather resistance capabilities.

With the increasing demand for specialty products like hoses, seals, gaskets, and diaphragms, the demand for performance elastomers has increased globally. These factors will drive the global performance elastomers market in the upcoming years.

Growing Awareness Regarding Superior Properties of Performance Elastomer

Performance elastomers displace standard elastomers due to their distinct characteristics, including greater durability, flexibility, heat resistance, chemical resistance, aging resistance, a wide range of oil & gas resistance, enhanced performance, and a long-life cycle.

Performance elastomers such as silicone elastomers enhance heat resistance over 300C by using polysiloxane additives. With respect to these properties, the demand for performance elastomers increases globally in the building & construction sectors. These characteristics will drive the performance elastomers market in the forecast period.

Moreover, Althan Quartier starts construction of USD 507 million, which includes the construction of hotels, commercial facilities, and more using performance elastomers in the fourth quarter of 2021.

Rising demand from Automotive Industry

Key properties such as flexibility, strength, and high strength allow varied applications of elastomers in the automotive industry, such as manufacturing wires & cables, puncture-resistant seals, and providing impact resistance in vehicle interiors.

Widespread adoption of EV vehicles, which seek to lower costs and boost efficiency, has coincided with the rise in petroleum prices. Due to their lightweight nature and vast design flexibility for interior and exterior components, performance elastomers have seen an increase in vehicle application due to the growing demand for automobiles.

For instance, according to European Automobile Manufacturers Association, in 2021, 79.1 million motor vehicles were produced worldwide, a 1.3% increase over 2020.

Additionally, according to the Global EV Outlook 2021, consumers spent USD 120 billion on electric vehicle purchases in 2020, a 50% increase over 2019. Therefore, increasing vehicle production has boosted performance elastomers' use; consequently, the demand for the global performance elastomers market will increase in the upcoming years.

Development of eco-friendly high-performance elastomers

A prominent trend gaining traction in the performance elastomer market is the development of environmentally friendly high-performance elastomers. The rise in environmental awareness drives the need for eco-friendly elastomer goods.

Products made of sustainable and bio-based elastomers are essential for accomplishing these goals. To improve their market position, several businesses that deal with performance elastomers are creating eco-friendly and secure elastomers for their customers.

ENGAGE REN, a plant-based high-performance polyolefin elastomer produced by Dow Inc. used in sustainable footwear. Using this elastomer, the footwear industry reduces its carbon footprint and produces sustainable products with the same quality. Therefore, the performance elastomers market will grow globally during the forecast period.

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global performance elastomers market.

  • Performance Elastomers Corporation
  • DuPont de Nemours, Inc.
  • Celanese SO.F.TER.Corp
  • M Co.
  • Zeon Chemicals L.P.
  • Solvay S.A.
  • Momentive Performance Materials Inc.
  • Polycom GmbH
  • Wacker Chemie AG
  • Mitsui Elastomers Singapore Pte Ltd

Report Scope:

Performance Elastomers Market, By Type:

  • Nitrile-Based
  • Silicone-Based
  • Fluoroelastomers
  • Others

Performance Elastomers Market, By End Use:

  • Automotive & Transportation
  • Building & Construction
  • Others

Performance Elastomers Market, By Region:

  • North America
  • United States
  • Mexico
  • Canada
  • Europe
  • France
  • Germany
  • United Kingdom
  • Spain
  • Italy
  • Sweden
  • Asia-Pacific
  • China
  • India
  • South Korea
  • Japan
  • Thailand
  • Singapore
  • South America
  • Brazil
  • Argentina
  • Colombia
  • Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

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