Automotive Elastomers Market - Forecast(2023 - 2028)

Report Code: CMR 62838 Report Format: PDF + Excel

Automotive Elastomers Market Overview

Automotive Elastomers Market size is forecast to reach $96.6 billion by 2026, after growing at a CAGR of 4.6% during 2021-2026. Automotive elastomers reduce the overall weight of vehicles and are used in high-performance vehicle production. Elastomers are used in automotive vehicles due to various applications such as durability, impact resistance, low weight, softness, enhanced thermal resistance, and improved vehicle safety. Elastomer materials such as thermoplastic polyolefins, thermoplastic copolyesters, styrene block copolymers, and others are light in weight and improve fuel efficiency thus they are used in interior and exterior automotive expertise. They help to reduce emissions, enhanced safety, and superior paintability thus, widely used in the automotive sector. Hence, increasing the use of recyclable rubber elastomers is expected to boost the market growth for automotive elastomers.

Due to COVID-19, the automotive elastomer market got affected in the entire world. Synthetic rubber thermoset is used as vehicles material, which is derived from crude oil. But due to pandemic production of crude oil and other material has been stopped. Due to this, all manufacturing of thermoset material was held, which is limiting the production of automotive elastomer.

Report Coverage

The report: “Automotive Elastomers Market – Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Automotive Elastomers Industry.

By Type: Thermoset Elastomers (Natural Rubber, Synthetic Rubber, Polyisoprene, Styrene-Butadiene Rubber, Polybutadiene, Nitrile Butadiene Rubber, Others), Thermoplastic Elastomers (Thermoplastic Polyolefin, Thermoplastic Polyurethane, Thermoplastic Vulcanizates, Styrene block copolymer, Copolyester Ether, Thermoplastic polyamide, Others), and Others 
By Application: Tire, Non-tire {Interior (Airbags, Hoses, Breaks & Suspensions, Door Panels, Conveyor Belts, Soft Touch Panels, Others), Exterior (Front Body Panel, Bumpers, Window Shields, Others), and Others 
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, Italy, France, Spain, Netherlands, Russia, Belgium, and Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia & New Zealand, Indonesia, Taiwan, Malaysia, and Rest of Asia Pacific), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and RoW (Middle East and Africa)

 Key Takeaways

  • Asia-Pacific dominates the Automotive Elastomers Market due to the increasing production of passenger cars, lightweight commercial vehicles, and heavy-duty commercial vehicles in Asian countries.
  •  Increasing adoption of eco-friendly products, implementation of stringent government regulations related to carbon emissions, is estimated to grow the demand for automotive elastomers in the future.
  • Increasing demand for lightweight vehicles to reduce carbon oxides emission will enhance the adoption of automotive elastomers.

Figure: Asia Pacific Automotive Elastomers Market Revenue, 2021-2026 (US$ Billion)
Automotive Elastomers Market
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Automotive Elastomers Market Segment Analysis – By Type

Thermoset automotive elastomer held the largest share in the Automotive Elastomers Market in 2020 as these are widely used in vehicles due to their thermal stability. Thermoset helps to reduce the cost of material, improve tear resistance, abrasion resistance, and tensile strength. Synthetic rubber has low-temperature flexibility, thus it is used for tires, wire insulation, gaskets, and so on. Natural rubber thermoset is used as a vehicle material due to its various properties such as excellent processability, excellent elastic properties, high tensile strength, high tear resistance, low heat build-up in dynamic stress, and excellent electrical insulator. Synthetic and natural rubber is used to make gaskets in cars. Hence, these properties of thermoset elastomers are estimated to grow the consumption of automotive elastomers.

Automotive Elastomers Market Segment Analysis – By Application

Non-tire segment dominated the Automotive Elastomers Market in 2020 and is growing at a CAGR of 4.8% during 2021-2026 due to elastomers such as thermoplastic polyolefins, thermoplastic copolyesters, styrene block copolymers, others used in the interior and exterior expertise of automotive vehicles. Elastomers offer excellent strength-to-weight ratio, excellent viscoelasticity, and sound-absorbing capabilities thus they are widely used in vehicles. Automotive elastomers are easily molded and used in radiator hoses, bumper guards, under the hood, seat covers, and others due to their excellent abrasion-resistant properties. They are light in weight and fuel-efficient, thus these are used in caster wheels and instrument panels, and car seat covers. Thus, the rising automotive industry is estimated to grow the demand for automotive elastomers. For instance, according to the Federation of Automobile Dealers Associations (FADA), in India sales of passenger vehicles increased to 2,91,001 units in November 2020, compared with 2,79,365 units in November 2019. Hence, increasing production of vehicles is expected to grow the automotive industry which, in turn, increasing the demand for automotive elastomers.

Automotive Elastomers Market Segment Analysis – By Geography

Asia Pacific region dominated the Automotive Elastomers Market with more than 34% in 2020 due to the growth in passenger and commercial vehicles in the region. Increasing usage of high-performance lightweight materials in India and China with strict regulations to reduce carbon emission has been cited as a potential growth opportunity for automotive elastomers in the region. According to India Brand Equity Foundation (IBEF), the Indian automotive industry (including component manufacturing) is expected to reach US$ 251 to US$ 282 billion by 2026. Also, the Indian Government expects the automobile sector to attract US$ 8 to US$10 billion in local and foreign investments by 2023. Furthermore, according to Automotive Aftermarket Suppliers Association (AASA) and the Auto Care Association, in China, light-duty aftermarket sales will grow from US$281 billion in 2020 to US$314 billion in 2021. Hence, such factors are increasing the demand for automotive elastomers.

Automotive Elastomers Market Drivers

Increasing Adoption of Elastomers in the Automotive Industry

Automotive elastomers thermoplastic polyolefins, thermoplastic copolyesters, styrene block copolymers, thermoplastic polyurethane, others are widely used in vehicles to reduce weight, enhanced safety, and excellent durability. At the separation between the engine compartment and the interior, automotive elastomers are used for sound management. Inside the passenger vehicles, automotive elastomers are used for instrument panels for a soft touch and gaskets for side mirrors. They are used outside for base tires, sidewalls, and so on. Hence, various properties of elastomers such as emissions reduction, noise reduction, performance improvement, safety improvement, interior air quality, greater comfort, and affordability are expected to enhance the market for automotive elastomers. According to the Australian Bureau of Statistics, the Australian market sold 1.2 million new passenger cars, SUVs, and commercial vehicles in 2017, an increase of 0.9 % from 2016. According to the International Organization of Motor Vehicle Manufacturers (OICA), the production of light commercial vehicles has increased in the APAC region by 10.2 % in 2018. Light commercial vehicle production has increased from 2,249,348 in 2018 to 2,254,153 in 2019, an increase of 0.2% in Europe. The increasing automotive industry is expected to increase the requirement for automotive elastomers, which will act as a driver for market.

Automotive Elastomers Market Challenges

Volatility in Raw Material Prices

Automotive elastomers such as synthetic rubber (petroleum-based monomer) are derived from crude oil. Thus, the volatility in oil prices will be hampering the market of automotive elastomers. According to the U.S. Energy Information Administration (EIA), crude oil prices decreased by US$ 41.69 per barrel in 2020 compared to US$ 64.34 per barrel in 2019. Hence, the volatility of raw materials may hamper the market growth.

Automotive Elastomers Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Automotive Elastomers Market. Major players in the Automotive Elastomers Market are Huntsman International LLC, The Dow Chemical Company, LANXESS, BASF SE, Exxon Mobil Corporation, E. I. du Pont de Nemours and Company, Motherson Automotive Elastomer Technology, Kuraray Elastomer Division Co., Ltd., Continental AG, and among others.

Acquisitions/Technology Launches

  • In September 2019, JSR Corporation launched a new styrene-butadiene copolymer rubber (SBR) for automotive tires. It offers mechanical strength, wear resistance, and durability to improve fuel efficiency for CO2 emission reduction.

Relevant Reports

Report Code: CMR 0098

Report Code: CMR 69134

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1. Automotive Elastomers Market- Market Overview
    1.1 Definitions and Scope 
2. Automotive Elastomers Market- Executive Summary
    2.1 Key Trends by Type
    2.2 Key Trends by Application
    2.3 Key Trends by Geography
3. Automotive Elastomers Market– Comparative analysis 
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Automotive Elastomers Market- Startup companies Scenario Premium Premium 
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio 
        4.1.4 Venture Capital and Funding Scenario
5. Automotive Elastomers Market– Industry Market Entry Scenario Premium Premium 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Automotive Elastomers Market- Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes 
7. Automotive Elastomers Market– Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies 
8. Automotive Elastomers Market – By Type (Market Size -$Billion)
    8.1 Thermoset Elastomers
        8.1.1 Natural Rubber
        8.1.2 Synthetic Rubber
        8.1.3 Polyisoprene
        8.1.4 Styrene-Butadiene Rubber
        8.1.5 Polybutadiene
        8.1.6 Nitrile Butadiene Rubber
        8.1.7 Others
    8.2 Thermoplastic Elastomers
        8.2.1 Thermoplastic Polyolefin
        8.2.2 Thermoplastic Polyurethane
        8.2.3 Thermoplastic Vulcanizates
        8.2.4 Styrene block copolymer
        8.2.5 Copolyester Ether
        8.2.6 Thermoplastic polyamide
        8.2.7 Others
    8.3 Others
9. Automotive Elastomers Market – By Application (Market Size -$Billion)
    9.1 Tire
    9.2 Non-tire
        9.2.1 Interior
            9.2.1.1 Airbags
            9.2.1.2 Hoses
            9.2.1.3 Breaks & Suspensions
            9.2.1.4 Door Panels
            9.2.1.5 Conveyor Belts
            9.2.1.6 Soft Touch Panels
            9.2.1.7 Others
        9.2.2 Exterior
            9.2.2.1 Front Body Panel
            9.2.2.2 Bumpers
            9.2.2.3 Window Shields
            9.2.2.4 Others
    9.3 Others 
10. Automotive Elastomers Market- By Geography (Market Size -$Million/Billion)
    10.1 North America
        10.1.1 USA
        10.1.2 Canada
        10.1.3 Mexico
    10.2 Europe
        10.2.1 UK
        10.2.2 Germany
        10.2.3 France
        10.2.4 Italy
        10.2.5 Netherlands
        10.2.6 Spain
        10.2.7 Russia
        10.2.8 Belgium
        10.2.9 Rest of Europe
    10.3 Asia-Pacific
        10.3.1 China
        10.3.2 Japan
        10.3.3 India
        10.3.4 South Korea
        10.3.5 Australia and New Zeeland
        10.3.6 Indonesia
        10.3.7 Taiwan
        10.3.8 Malaysia
        10.3.9 Rest of APAC
    10.4 South America
        10.4.1 Brazil
        10.4.2 Argentina
        10.4.3 Colombia
        10.4.4 Chile
        10.4.5 Rest of South America
    10.5 Rest of the World
        10.5.1 Middle East
            10.5.1.1 Saudi Arabia
            10.5.1.2 UAE
            10.5.1.3 Israel
            10.5.1.4 Rest of the Middle East
        10.5.2 Africa
            10.5.2.1 South Africa
            10.5.2.2 Nigeria
            10.5.2.3 Rest of Africa
11. Automotive Elastomers Market– Entropy
    11.1 New Product Launches
    11.2 M&As, Collaborations, JVs and Partnerships
12. Automotive Elastomers Market– Market Share Analysis Premium
    12.1 Market Share at Global Level - Major companies
    12.2 Market Share by Key Region - Major companies
    12.3 Market Share by Key Country - Major companies
    12.4 Market Share by Key Application - Major companies
    12.5 Market Share by Key Product Type/Product category - Major companies
    12.6 Company Benchmarking- Major Companies
13. Automotive Elastomers Market– Key Company List by Country Premium Premium
14. Automotive Elastomers Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    14.1 Company 1
    14.2 Company 2
    14.3 Company 3
    14.4 Company 4
    14.5 Company 5
    14.6 Company 6
    14.7 Company 7
    14.8 Company 8
    14.9 Company 9
    14.10 Company 10 and more
 "*Financials would be provided on a best efforts basis for private companies"

LIST OF TABLES

1.Global Automotive Elastomers Market By Type Market 2019-2024 ($M)
1.1 Thermoset Elastomer Market 2019-2024 ($M) - Global Industry Research
1.1.1 Natural Rubber Market 2019-2024 ($M)
1.1.2 Synthetic Rubber Market 2019-2024 ($M)
1.2 Thermoplastic Elastomer Market 2019-2024 ($M) - Global Industry Research
1.2.1 Styrene Block Copolymer Market 2019-2024 ($M)
1.2.2 Thermoplastic Polyurethane Market 2019-2024 ($M)
1.2.3 Thermoplastic Polyolefins Market 2019-2024 ($M)
1.2.4 Thermoplastic Vulcanizates Market 2019-2024 ($M)
1.2.5 Thermoplastic Polyester Elastomers Market 2019-2024 ($M)
1.2.6 Polyether Block Amide Market 2019-2024 ($M)
2.Global Automotive Elastomers Market By Type Market 2019-2024 (Volume/Units)
2.1 Thermoset Elastomer Market 2019-2024 (Volume/Units) - Global Industry Research
2.1.1 Natural Rubber Market 2019-2024 (Volume/Units)
2.1.2 Synthetic Rubber Market 2019-2024 (Volume/Units)
2.2 Thermoplastic Elastomer Market 2019-2024 (Volume/Units) - Global Industry Research
2.2.1 Styrene Block Copolymer Market 2019-2024 (Volume/Units)
2.2.2 Thermoplastic Polyurethane Market 2019-2024 (Volume/Units)
2.2.3 Thermoplastic Polyolefins Market 2019-2024 (Volume/Units)
2.2.4 Thermoplastic Vulcanizates Market 2019-2024 (Volume/Units)
2.2.5 Thermoplastic Polyester Elastomers Market 2019-2024 (Volume/Units)
2.2.6 Polyether Block Amide Market 2019-2024 (Volume/Units)
3.North America Automotive Elastomers Market By Type Market 2019-2024 ($M)
3.1 Thermoset Elastomer Market 2019-2024 ($M) - Regional Industry Research
3.1.1 Natural Rubber Market 2019-2024 ($M)
3.1.2 Synthetic Rubber Market 2019-2024 ($M)
3.2 Thermoplastic Elastomer Market 2019-2024 ($M) - Regional Industry Research
3.2.1 Styrene Block Copolymer Market 2019-2024 ($M)
3.2.2 Thermoplastic Polyurethane Market 2019-2024 ($M)
3.2.3 Thermoplastic Polyolefins Market 2019-2024 ($M)
3.2.4 Thermoplastic Vulcanizates Market 2019-2024 ($M)
3.2.5 Thermoplastic Polyester Elastomers Market 2019-2024 ($M)
3.2.6 Polyether Block Amide Market 2019-2024 ($M)
4.South America Automotive Elastomers Market By Type Market 2019-2024 ($M)
4.1 Thermoset Elastomer Market 2019-2024 ($M) - Regional Industry Research
4.1.1 Natural Rubber Market 2019-2024 ($M)
4.1.2 Synthetic Rubber Market 2019-2024 ($M)
4.2 Thermoplastic Elastomer Market 2019-2024 ($M) - Regional Industry Research
4.2.1 Styrene Block Copolymer Market 2019-2024 ($M)
4.2.2 Thermoplastic Polyurethane Market 2019-2024 ($M)
4.2.3 Thermoplastic Polyolefins Market 2019-2024 ($M)
4.2.4 Thermoplastic Vulcanizates Market 2019-2024 ($M)
4.2.5 Thermoplastic Polyester Elastomers Market 2019-2024 ($M)
4.2.6 Polyether Block Amide Market 2019-2024 ($M)
5.Europe Automotive Elastomers Market By Type Market 2019-2024 ($M)
5.1 Thermoset Elastomer Market 2019-2024 ($M) - Regional Industry Research
5.1.1 Natural Rubber Market 2019-2024 ($M)
5.1.2 Synthetic Rubber Market 2019-2024 ($M)
5.2 Thermoplastic Elastomer Market 2019-2024 ($M) - Regional Industry Research
5.2.1 Styrene Block Copolymer Market 2019-2024 ($M)
5.2.2 Thermoplastic Polyurethane Market 2019-2024 ($M)
5.2.3 Thermoplastic Polyolefins Market 2019-2024 ($M)
5.2.4 Thermoplastic Vulcanizates Market 2019-2024 ($M)
5.2.5 Thermoplastic Polyester Elastomers Market 2019-2024 ($M)
5.2.6 Polyether Block Amide Market 2019-2024 ($M)
6.APAC Automotive Elastomers Market By Type Market 2019-2024 ($M)
6.1 Thermoset Elastomer Market 2019-2024 ($M) - Regional Industry Research
6.1.1 Natural Rubber Market 2019-2024 ($M)
6.1.2 Synthetic Rubber Market 2019-2024 ($M)
6.2 Thermoplastic Elastomer Market 2019-2024 ($M) - Regional Industry Research
6.2.1 Styrene Block Copolymer Market 2019-2024 ($M)
6.2.2 Thermoplastic Polyurethane Market 2019-2024 ($M)
6.2.3 Thermoplastic Polyolefins Market 2019-2024 ($M)
6.2.4 Thermoplastic Vulcanizates Market 2019-2024 ($M)
6.2.5 Thermoplastic Polyester Elastomers Market 2019-2024 ($M)
6.2.6 Polyether Block Amide Market 2019-2024 ($M)
7.MENA Automotive Elastomers Market By Type Market 2019-2024 ($M)
7.1 Thermoset Elastomer Market 2019-2024 ($M) - Regional Industry Research
7.1.1 Natural Rubber Market 2019-2024 ($M)
7.1.2 Synthetic Rubber Market 2019-2024 ($M)
7.2 Thermoplastic Elastomer Market 2019-2024 ($M) - Regional Industry Research
7.2.1 Styrene Block Copolymer Market 2019-2024 ($M)
7.2.2 Thermoplastic Polyurethane Market 2019-2024 ($M)
7.2.3 Thermoplastic Polyolefins Market 2019-2024 ($M)
7.2.4 Thermoplastic Vulcanizates Market 2019-2024 ($M)
7.2.5 Thermoplastic Polyester Elastomers Market 2019-2024 ($M)
7.2.6 Polyether Block Amide Market 2019-2024 ($M)

LIST OF FIGURES

1.US Automotive Elastomers Market Revenue, 2019-2024 ($M)
2.Canada Automotive Elastomers Market Revenue, 2019-2024 ($M)
3.Mexico Automotive Elastomers Market Revenue, 2019-2024 ($M)
4.Brazil Automotive Elastomers Market Revenue, 2019-2024 ($M)
5.Argentina Automotive Elastomers Market Revenue, 2019-2024 ($M)
6.Peru Automotive Elastomers Market Revenue, 2019-2024 ($M)
7.Colombia Automotive Elastomers Market Revenue, 2019-2024 ($M)
8.Chile Automotive Elastomers Market Revenue, 2019-2024 ($M)
9.Rest of South America Automotive Elastomers Market Revenue, 2019-2024 ($M)
10.UK Automotive Elastomers Market Revenue, 2019-2024 ($M)
11.Germany Automotive Elastomers Market Revenue, 2019-2024 ($M)
12.France Automotive Elastomers Market Revenue, 2019-2024 ($M)
13.Italy Automotive Elastomers Market Revenue, 2019-2024 ($M)
14.Spain Automotive Elastomers Market Revenue, 2019-2024 ($M)
15.Rest of Europe Automotive Elastomers Market Revenue, 2019-2024 ($M)
16.China Automotive Elastomers Market Revenue, 2019-2024 ($M)
17.India Automotive Elastomers Market Revenue, 2019-2024 ($M)
18.Japan Automotive Elastomers Market Revenue, 2019-2024 ($M)
19.South Korea Automotive Elastomers Market Revenue, 2019-2024 ($M)
20.South Africa Automotive Elastomers Market Revenue, 2019-2024 ($M)
21.North America Automotive Elastomers By Application
22.South America Automotive Elastomers By Application
23.Europe Automotive Elastomers By Application
24.APAC Automotive Elastomers By Application
25.MENA Automotive Elastomers By Application
26.Arlanxeo, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.DOW, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Exxonmobil, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.JSR Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Dupont, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.BASF, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.LG Chem, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Sabic, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Teknor Apex, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Zeon Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)