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Analysis of the Global Elastomers Market : Emphasis of the OEM on High-performance Materials will Drive Market Revenue

  • March 2015
  • -
  • Frost & Sullivan
  • -
  • 178 pages

Summary

Table of Contents

Key Findings

•In the total elastomers market, the thermoplastic elastomers (TPE) segment is at the forefront in terms of technological advancements. The segment is mainly focused on improving processing attributes and enhancing design flexibility.
•Furthermore, the high recyclable content makes TPE the sought after material for sustainable solutions. Housing a wide range of applications, TPE demand for different end-user industries is projected to accelerate during the forecast period.
•Growing environmental concerns, along with biohazard and skin sensitization issues in the medical and hygiene industry, have steered the focus of original equipment manufacturers (OEM) towards non-latex solutions. This shifting trend is a major driver of the increasing demand of synthetic elastomer (SE) compounds.
•Dynamics in the elastomers market center around polyvinyl chloride (PVC) and metal replacement opportunities in certain applications and the substitution of competing plastic compounds and reinforced and composite materials in different applications.
•In terms of size and growth rate, Asia-Pacific (APAC) will continue leading the market in correlation to the faster growing application segments.
•Rest of World (ROW) is expected to be the second fastest growing market, with Russia and Turkey emerging as market hotspots for elastomer manufacturers. North America and Europe are expected to witness moderate growth because of the resurgence in industrial activities.
•Polymer manufacturers that are backwardly integrated are expected to have better control over the volatility of raw material prices, which will help them maintain a competitive edge in the long run. Efficient technical support and a consistent supply of high-performance products will remain as key differentiating factors among market participants.

Strategic Factsheet

•The global elastomers market was valued at $ x billion in 2014.
•Compared to SE, the TPE segment is expected to grow faster, mainly because of increasing technological innovation and product advancements.
•The global elastomers market is consolidated across all regions; therefore, brand recognition is a key competitive factor.
•Product performance, price, and technological innovation are other key competitive factors in the market.
•The global elastomers market is expected to reach $ x billion by 2021.
•Volume is estimated to reach x kilotonnes (KT) by 2021, growing at a compound annual growth rate (CAGR) of x % from 2014 to 2021.
•Increasing focus towards non-allergic and hygiene-friendly materials in the medical industry are expected to drive the growth of elastomer compounds.
•Growing opportunities in APAC will primarily drive the global elastomers market.

CEO’s Perspective

Strong growth opportunities in APAC and ROW are expected to drive the participants in the elastomers market.
To shield from raw material shortages and price hikes, manufacturers consider vertical integration as a key competitive factor in this market.
The market is expected to consolidate further, with larger entities acquiring small and regional market participants to increase market share and regional visibility.
High-level technical expertise and long-term relationships with OEMs are critical in the automotive plastics market. Hence, entry barriers are high for new participants to cater to the rapidly evolving needs of the automotive industry.
With the diverse range of available products, the customer’s procurement decision is on performance criteria such as durability, product finish, and flexibility of use, which force smaller companies to focus on product development to reach desired performance levels.

Market Definitions

•This study presents an assessment of the current status and future prospects of the global elastomers market. The research takes into account revenue generated from global elastomer sales from 2011 to 2021. Revenue is recorded at the polymer manufacturer level.
•Market revenue and volume are expressed in US dollars and KT, respectively. Average elastomer prices are represented in dollar/tonne.
•An elastomer is a polymer that has viscoelastic properties. These polymers are joined by chemical bonds acquiring a cross-linked structure.
•Elastomeric materials are characterized by wide-meshed crosslinking of the tangled molecular chains. The crosslinking adds on to the high level of dimensional stability but are still elastically malleable.
•By applying tensile load, the molecular chains become disentangled but relax again when the load is removed.
•Depending on the molecular bond structure, elastomeric materials can have properties or characteristics similar to thermosets or thermoplastics.
•Thermoset elastomers are elastomeric materials that do not melt when heated, whereas TPEs are elastomers that melt when heated.

Key Questions This Study Will Answer

At what stage is the market lifecycle, and how is it expected to grow?
What are the key factors driving and restraining market growth?
What are the dynamics influencing application segments?
What are the growth opportunities for the different application segments?
Who are the leading market participants?
What are the key competitive factors governing the market?

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