Global Performance Elastomers Market 2018-2022
About Performance Elastomers
Performance elastomers are high performance synthetic rubbers that have a high resistance to heat, oil, compression set, acids, and solvents.
Technavio’s analysts forecast the global performance elastomers market to grow at a CAGR of 7.47% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global performance elastomers market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Performance Elastomers Market 2018-2022
Technavio recognizes the following companies as the key players in the global performance elastomers market: 3M, DAIKIN INDUSTRIES, DowDuPont, Shin-Etsu Chemical, Solvay, and ZEON CORPORATION.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is fluctuating demand and supply. The major performance elastomer manufacturers are developing elastomers that are used in major end-user industries such as automotive, electrical and electronics, medical and others”
According to the report, one driver in the market is increasing demand for performance elastomers in automotive industry. The improving purchasing power and significant economic growth in emerging economies such as China and India are resulting in an increased demand for automotive vehicles, which in turn, is propelling the adoption of performance elastomer.
Further, the report states that one challenge in the market is stagnant growth for performance elastomers in developed countries. Performance elastomers are extensively used in the major end-user industries in developing countries such as India, China, and Russia. Developed countries have a low demand for performance elastomers due to their low demand in major end-user industries such as automotive, medical, electrical and electronics, and others.
3M, DAIKIN INDUSTRIES, DowDuPont, Shin-Etsu Chemical, Solvay, and ZEON CORPORATION.
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