Market overview

Elastomers are synthetic rubber-like materials that can be easily bent, twisted, stretched or deformed at room temperature and can return to their original shape and dimensions. There are many elastomers used in the automotive industry for the manufacture of various components such as seals, insulators, hoses, bushes, and gaskets. Some elastomeric polymers include natural rubber, polyisobutylene, polyurethane, and other petroleum-based polymers. 

There are a number of applications that vary in a broad perspective from automotive to footwear, consumer goods, to sports. There are many factors such as increased stability, durability and viscosity of the rubber. The automotive industry is the largest application sector consuming more than 45% of all elastomer production worldwide. Automotive elastomers have higher failure strain properties, and lower Young's modulus compared to other materials. 

The global automotive elastomer market report  presents data and figures, in which the market is expected to rise at a CAGR of 5.32%, reaching around USD 46,463 million by the end of 2027. Factors supporting the growth of the automotive market include demand from both passenger and commercial vehicles. The increasing use of high-performance light material vehicles by consumers is driving the growth of the automotive elastomer market. 

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Market segmentation

The global automotive elastomer market can be segmented by application type, such as:

  • Tire
  • Outback
  • The outside part

The tire segment dominates the market with the largest share contributing to the large consumption of synthetic and natural elastomers for automotive manufacturing.

To further categorize the interior segmentation can be done as follows:

  • Hoses and seals
  • Airbags
  • Rest and suspension
  • door panels
  • Dashboard
  • Transmission and conveyor belts
  • Seat
  • Instrument panel and soft touch

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All of the above sub-segments are expected to grow at a higher CAGR rate and trade will increase to improve transport. These factors underpin the growth and surge in demand and supply of the global automotive elastomer market. 

Area analysis 

Geographic segmentation can be divided into North America, Europe, Latin America, Asia-Pacific, Middle East, and Africa. The European market can be divided into Spain, France, Russia, Germany, UK, Poland and other Europeans. North America offers significant growth potential of over 5% CAGR which will reach approximately USD 8,000 million by 2025. 

The global automotive elastomer market will reach more than USD 10,000 million by the end of 2025. Asia-Pacific also offers growth potential for automotive elastomers and will record the highest share of more than 50% by 2025. The formation of the automotive industry and increasing number of exports are driving the growth of the market in area during the forecast period. 

Industry news

Mitsui Chemicals Inc. has announced plans to close the Mitsui Chemicals Exclusive Railway, to transport raw materials to Omuta Works Company in Fukuoka, Japan. This coal railway has been operating for more than 100 years and therefore it is a farewell project for this railway to record a long history and to perpetuate the legacy of this railway for the future.

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Market Research Future (MRFR) is a global market research company that prides itself on its services, offering complete and accurate analysis of diverse markets and consumers around the world. The MRFR approach combines proprietary information with multiple data sources to provide clients with a broad understanding of the latest major developments, expected events as well as on what actions to take based on these aspects.

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