Due
to the increased demand from automotive industry, advancement in processing
industry and increasing purchasing power in the developing economies are the
key drivers of the elastomers market, global elastomers market is expected to
grow at a compound annual growth rate (CAGR) of 6.1% and reach US$36 billion by
2022 from $22.37 billion in 2014.
Among
the elastomers, the thermoplastic elastomers are likely to grow due to the
diverse range of its applications and increasing R&D efforts. Whereas
Volatality of crude oil prices and product commoditization are hampering the
market growth.
Elastomers
Market is segmented by product, by application and by geography. Depending on
the various products, the market is segmented into Thermo set Elastomers and
Thermoplastic Elastomers. Based on applications, the market is categorized into
Tire Elastomers, Automotive Component, Elastomers, Architecture, Sports
Products and Medical Products. By geography , the market is segmented into
North America, Europe,Asia-Pacific and Rest of the World. China accounted for
one-fourth of the Elastomers market share in 2014. The Asia-Pacific region
being the largest market is expected to grow at a faster rate.
The
key players in the Elastomers Market include Ashland, DuPont , Goodyear Tire
& Rubber Co, Japan Synthetic Rubber Co. Ltd., Kraton Polymers, Lcy Chemical
Corp., Michelin, Nantong Huili Rubber Co. Ltd., Sibur and Zeon.
For
more information visit: http://www.marketresearchreports.com/stratistics-mrc/global-elastomers-market-outlook-2014-2022
To
browse more Chemicals Market Research Reports
visit: http://www.marketresearchreports.com/chemicals
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