How is Increasing Vehicle Production Driving High Temperature Elastomers Market?
The vehicle production around the world is
increasing primarily due to the rising disposable income of people. As per the
European Automobile Manufacturers Association, over 80 million passenger cars
were produced across the globe in 2017. Furthermore, approximately 18.4 million
commercial vehicles were manufactured in 2016 globally. The automotive industry
in regions including Latin America and Asia-Pacific is particularly witnessing
significant growth. This rising production of vehicles is generating increasing
demand for high temperature elastomers, as they are preferred for dampers,
gaskets, hoses, boots, and seats, which in turn, is attributed to their
flexibility and resistivity to heat and automotive lubricants.
Get the Sample Pages of the Report:
https://www.psmarketresearch.com/market-analysis/high-temperature-elastomers-market/report-sample
https://www.psmarketresearch.com/market-analysis/high-temperature-elastomers-market/report-sample
Synthetic and natural polymers which possess elastic
properties are referred to as elastomers. High temperature elastomers are
polymers that are made from long chain of atoms possessing elastic property and
have the ability to withstand high range of temperatures. According to a report
by P&S Intelligence, in 2017, the global high temperature elastomers market generated a revenue of $9,9991.7 million and is projected to attain
a value of $14,951.4 million in 2023, witnessing a 7.0% CAGR during the
forecast period (2018–2023). Geographically, Asia-Pacific created the largest
demand for high temperature elastomers during 2013–2017 due to the rising
construction activities, swift economic growth, and presence of large number of
electric and electronics manufacturing companies.
The rising investment for the development of
advanced elastomers is a key trend in the high temperature
elastomers market. Different companies in the domain have started
investing in research & development activities foe expanding their
application areas and targeting new industries. In addition to this, the rising
requirement for new and advanced polymers with unique properties are further resulting
in increasing investments by the manufacturers. There is a growing need for
improving the control of molecular structure, formulating existing polymer
types, and copolymerization. Attributed to this, the manufacturers are focusing
on new polymerization techniques and catalysts for controlling tacticity, molar
mass distribution, molar mass, and comonomer composition.
High Temperature Elastomers Market Competitive Landscape
Some of the major players operating in the global high temperature elastomers market are Dow Corning Corporation, KCC Corporation, Solvay S.A., Momentive Performance Materials Inc., Wacker Chemie AG, 3M Company, Daikin Industries, Ltd., RTP Company, Shin-Etsu Chemical Co., Ltd., and The Chemours Company.
GLOBAL HIGH TEMPERATURE ELASTOMERS MARKET SEGMENTATION
By Type
- Fluorocarbon
- Perfluorocarbon
- Silicone
- Fluorosilicone
- Others
By Application
- Automobile and Transportation
- Semiconductor and Electronics
- Healthcare
- Consumer Products
- Industrial Machinery
- Others
