Global Elastomers Market Worth 92.36 Billion USD by 2021 – Exclusive Report by MarketsandMarkets

 

The report "Elastomers Market by Type (Thermoset (Natural Rubber, Synthetic Rubber (SBR, IIR, PBR, NBR, ACM, EPM)), and Thermoplastic (PEBA, SBC, TPO, TPU, TPV)), Application (Automotive, Consumer Goods, Medical, and Industrial) - Global Forecast to 2021", published by MarketsandMarkets, the market is estimated to grow from USD 73.93 Billion in 2016 to USD 92.36 Billion by 2021, at a CAGR of 4.6% from 2016 to 2021.

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Asia-Pacific is estimated to be the largest market for elastomers. The U.S. is estimated to be the largest market for elastomers in North America. The increasing demand for high-quality consumer goods and industrial products and growing end-use industries have led to innovation and new product developments in the region, thus driving the growth of the elastomers market. 

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Elastomers are used in various applications, such as automotive, medical, consumer goods, industrial, and others. The automotive application segment is estimated to lead the elastomers market in terms of value as well as volume, followed by the consumer goods and medical segments in 2016. 

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The natural rubber segment is expected to lead the Elastomers Market. Natural rubber is primarily used in the automotive industry, especially in the manufacturing of tires. Natural rubber possesses several physical properties, such as high tensile strength, excellent adhesion to metals, and excellent abrasion and tear resistance. 

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