Asia-Pacific Elastomers Market - Segmented by Product type, Application and Geography - Trends and Forecasts (2017 - 2022)
The Asia-Pacific Elastomers Market has grown evidently during the past few years and is anticipated to witness significant growth over the next five years owing to increasing automotive production in countries such as China, India, Thailand and Indonesia. China shared about 25% of the global Elastomers demand in 2015. Government policies to investment liberalization coupled with private players focusing on improving technologies is expected to fuel demand in the region.
Asia-Pacific Elastomers production is currently estimated to be over 40% of the global figure of 7.82 million tonnes in 2015, and is expected to show CAGR of 7%. The Asia/Pacific region will remain the largest market and will grow the fastest till 2020. Growing segments such as bio TPEs are emerging commercially and would be very effective due to cleanliness of the bio material and harmless wastage that they may leave, in future.
Elastomers are used in an increasing number of markets from Automobiles, Sports goods, electronics, Industrial products, Adhesives and a number of other segments.
Competitive scenario and market shares of the major players in the market are discussed in detail. We have also profiled leading players of this industry with their recent developments and other strategic initiatives in the industry. These include: Kraton Polymer LLC, BASF SE, TSRC Corp, Huntsman Corporation, The DOW Chemical Company, Arkema SA, Evonik Industries AG, Advanced Elastomer Systems, Polyone Corporation, Lyondellbasell Industries N.V., L.G. CHEM Ltd, Teknor Apex Company, EMS Group, Yantai Wanhua Polyurethane Co. Ltd, Lubrizol Corporation and other market players.
The study indicates that the growing demand from automotive industry is the main driver for the elastomers market. Also, advancement in Processing Industry and growing purchasing power in the developing economies are anticipated to boost the industry.
China is the most attractive market for Elastomers in the world and will be the principal driver for Asia-Pacific Elastomers demand to 2020. Among the elastomers the thermoplastic elastomers are expected to show more growth relatively mainly due the diverse range of its applications and increasing R&D efforts.
The industry is expected to face certain challenges such as fluctuation of crude oil prices, and product commoditization. Other major concern is the market saturation in applications for elastomers.
What the report contains
The report elucidates the situation of elastomers around the world and studies the markets of the elastomers product type which include Nitrile rubber (NBR), Ethylene Propylene (EPR), Fluorocarbon Elastomers (FKM), Styrenic block copolymers (TPS), Polyolefin blends (TPO), Elastomeric alloys (TPV), Thermoplastic polyurethanes (TPU) and others.
Lastly, the report is divided by countries - China, India, Japan, South Korea and rest of APAC; where-in the market share of each region is analyzed and estimates are provided for the next 5 years. The various applications of elastomers have been discussed in detail in addition to a comprehensive overview of the market.