high-temperature elastomers market Size , Share, Global Market Outlook, Forecast (2021-2027)
High-temperature elastomers are widely used in the end-user industries such as automobile, building and construction, electronics, and industrial machinery among others. The global high-temperature elastomers market is spanned across five regions of the world namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the global market and is projected to continue leading owing to the growing urbanization and industrialization in the developing countries the region. The major countries attributing to this growth are India and China. The presence of the most populated countries has augmented the construction and automotive sector, which, in turn, is expected to boost the market growth during the forecast years. In addition to this, the growing electrical and electronic sector mainly in Japan and China have positively impacted the high-temperature elastomers market. Furthermore, the growing energy requirement has boosted the oil and gas related activities in the region, in turn, adding to the market growth. High-temperature elastomers are used as sealing materials and in the progressing cavity pumps (PCP).
North America is dominating the global high-temperature elastomers market and is expected to retain its dominance during the forecast years. The developed end-user industry coupled with the increasing adoption rate is the major factor driving the market growth. The growing investment in the construction sector mainly in the U.S and Canada is further expected to surge the market growth during the forecast years. Furthermore, the developed electronic sector coupled with the presence of the ‘big three’ automobile companies namely General Motors, Ford and Fiat Chrysler is also expected to substantially add to the market growth.
European market of high-temperature elastomers is set to grow at a steady pace during the forecast period. The presence of the developed automobile sector and the electronics industry are the major factors driving the market growth. Furthermore, the construction industry in Europe is also contributing substantially to the growth of the market. The advantages of high-temperature elastomers in reducing vehicle emissions has fuelled the market growth owing to the strict government initiation in the reduction of greenhouse emissions in the region.
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Segmentation
The global high-temperature elastomers market is segmented into product type and end-user industry. On the basis of the product type, the global high-temperature elastomers market is segmented into silicone elastomers, fluorocarbon elastomers, fluorosilicone elastomers, perfluoro elastomers and others. On the basis of the end use industry, the market is further segmented into automotive, aviation, industrial machinery, healthcare, electrical and electronics, building and construction, and others.
Competitive Analysis
Some of the prominent players operating in the global high-temperature elastomers market are Dow Corning Corporation (U.S.), Wacker Chemie Ag( Germany), Momentive (U.S.), Shin-Etsu Chemical Co., Ltd (Japan), China National Bluestar (Group) Co. Ltd (China), Daikin Industries Ltd (Japan), DuPont (U.S), KCC Corporation (South Korea), Solvay S.A (Belgium), and 3M Company (U.S.) among others..
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