The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Performance Elastomers Market Overview

• The performance elastomers market has witnessed rapid growth.
• From $15.32 billion in 2023, it will escalate to $17.06 billion in 2024 with a CAGR of 11.4%.
• Growth catalysts include demands from the automotive, construction, and oil and gas industries.

Forecasted Growth: Trends and Projections

• Expected to reach $25.62 billion in 2028 with a CAGR of 10.7%.
• Trends include sustainable elastomers, electric vehicle demands, medical device applications, and innovations in 3D printing.
• Major trends feature bio-based products, smart elastomers, and nanomaterial enhancements.

Driving Growth in the Performance Elastomers Market: Automotive and Transport Industry Demand Surge

• Demand surge in automotive and transport industries drives market growth.
• Increased global production of motor vehicles spurs demand for elastomers.
• Notable companies in the market: Du Pont de Nemours, Arlanxeo, Zeon Chemicals LP.

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Rising Trend in Eco-Friendly High-Performance Elastomers

• Eco-friendly elastomers gain traction due to environmental concerns.
• Sustainable and bio-based elastomers become pivotal in the market.
• Examples include Dow’s ENGAGE REN, a plant-based high-performance polyolefin elastomer.

Pexco LLC Expands Portfolio with Acquisition of Performance Elastomers Corporation (PEC)

• Pexco LLC’s acquisition of PEC aims to broaden silicone and thermoplastic elastomer products.
• It enhances capabilities in mobility, recreational vehicles, and other specialized industries.
• Performance Elastomers Corporation (PEC) specializes in rubber, silicone, and thermoplastic elastomer products.

Segmentation of the Performance Elastomers Market

1. By Type: Nitrile-Based Elastomers, Fluoroelastomers, Silicone Elastomers, Others.
2. By End-Use Industry: Automotive and Transportation, Healthcare, Industrial Machinery, Building and Construction, Electrical and Electronics, Others.

Regional Insights: Asia-Pacific Leads, North America Rapidly Growing

• Asia-Pacific dominates the performance elastomers market in 2023.
• North America anticipates rapid growth in the forecast period.

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The Performance Elastomers Global Market Report 2024  provides an overview of the performance elastomers market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The performance elastomers market forecast analyzes performance elastomers market size, performance elastomers market share, leading competitor and their market positions.

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