Automotive Elastomers Market to Reflect a Holistic Expansion with Highest CAGR by 2031 | LG Chem Ltd., BASF SE, ExxonMobil Corporation.

DataM Intelligence has released a new research report on the Automotive Elastomers market. The report provides a detailed analysis of current and emerging trends, offering insights into the market dynamics. It utilizes Porter's Five Forces model to assess key factors such as supplier and customer relationships, risks from various agents, competitive intensity, and opportunities for new entrants. The study also includes research data from various companies, analyzing factors like benefits, gross margins, and strategic decisions in the global market. The report is enriched with tables, charts, and infographics for a clear presentation of the findings.

Global Automotive Elastomers Market reached US$ 32.5 billion in 2023 and is expected to reach US$ 51.4 billion by 2031, growing with a CAGR of 5.3% during the forecast period 2024-2031.

Get a Free Sample Research PDF - https://datamintelligence.com/download-sample/automotive-elastomers-market

The Automotive Elastomers market focuses on the production and application of elastic materials used in various components of vehicles, including seals, gaskets, hoses, and interior trim. These elastomers, which can be natural or synthetic, provide essential properties such as flexibility, durability, and resistance to temperature, chemicals, and wear. The market is driven by the increasing demand for lightweight materials in vehicles to enhance fuel efficiency and reduce emissions, as well as the growing trend towards electric and hybrid vehicles, which require advanced materials for battery and component housings. Additionally, the rise in automotive production and the demand for enhanced performance and safety features contribute to market growth. As automakers continue to prioritize innovation and sustainability, the automotive elastomers market is expected to expand, offering advanced solutions that meet evolving industry standards and consumer preferences.

List of the Key Players in the Automotive Elastomers Market:

LG Chem Ltd., BASF SE, ExxonMobil Corporation, Lanxess AG, Zeon Corporation, Kumho Petrochemical Co., Ltd., Dow, Mitsui Chemicals, Inc., SABIC (Saudi Basic Industries Corporation) and Avient Corp.

Key Developments:

On May 2, 2023, Borealis launched the Bornewables line of Queo, a range of plastomers and elastomers derived from renewable feedstock. Following this introduction, Borealis highlighted the International Sustainability and Carbon Certification (ISCC PLUS) received by its production facility in Geleen, the Netherlands, which manufactures the Queo™ products.

On July 31, 2023, Avient Corporation announced the addition of two new reSound REC Thermoplastic Elastomers (TPEs) that incorporate recycled content. These grades, designed for automotive interior applications, utilize post-consumer recycled (PCR) materials, offering an eco-friendlier TPE option without compromising performance compared to traditional TPEs.

Additionally, on February 13, 2020, Denka Corp., a Japanese rubber manufacturer, introduced a new high heat- and oil-resistant acrylic elastomer specifically designed for automotive applications. The Denka ER grade is engineered for use in automotive hoses and gaskets, boasting resistance to temperatures of up to 190° C.

Research Process:

Both primary and secondary data sources have been used in the global Automotive Elastomers Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

Segment Covered in the Automotive Elastomers Market:

By Type: Thermoset Elastomers, Thermoplastic Elastomers.

By Vehicle: Passenger Cars, Light Commercial Vehicles, Medium & Heavy Commercial Vehicles.

By Application: Tire, Non-Tire, Others.

Get Customization in the report as per your requirements: https://datamintelligence.com/customize/automotive-elastomers-market

Regional Analysis:

➣ North America (US, Canada, Mexico)

➣ Europe (Germany, Russia, UK, France, Italy, Spain, Rest of Europe)

➣ Asia-Pacific (China, India, Japan, Australia, Rest of Asia Pacific)

➣ South America (Brazil, Argentina, Rest of South America)

➣ Middle East and Africa

**The full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted**

Chapter Outline:

⏩ Market Overview: It contains five chapters, as well as information about the research scope, major manufacturers covered, market segments, Automotive Elastomers market segments, study objectives, and years considered.

⏩ Market Landscape: The competition in the Global Automotive Elastomers Market is evaluated here in terms of value, turnover, revenues, and market share by organization, as well as market rate, competitive landscape, and recent developments, transaction, growth, sale, and market shares of top companies.

⏩ Companies Profiles: The global Automotive Elastomers market's leading players are studied based on sales, main products, gross profit margin, revenue, price, and growth production.

⏩ Market Outlook by Region: The report goes through gross margin, sales, income, supply, market share, CAGR, and market size by region in this segment. North America, Europe, Asia Pacific, Middle East & Africa, and South America are among the regions and countries studied in depth in this study.

⏩ Market Segments: It contains the deep research study which interprets how different end-user/application/type segments contribute to the Automotive Elastomers Market.

⏩ Market Forecast: Production Side: In this part of the report, the authors have focused on production and production value forecast, key producers forecast, and production and production value forecast by type.

⏩ Research Findings: This section of the report showcases the findings and analysis of the report.

⏩ Conclusion: This portion of the report is the last section of the report where the conclusion of the research study is provided.

Have any Query? Talk to our Expert @ https://www.datamintelligence.com/enquiry/automotive-elastomers-market

The Research Report Offers Answers To The Following Questions:

☛ What is the expected growth rate of the global market for the forecast period?

☛ What are the key driving factors that are responsible to shape the fate of the Automotive Elastomers market during the forecast period?

☛ What will be the overall size of the market during the analysis period?

☛ What are the prominent market trends which influence the development of the Automotive Elastomers market across various regions?

☛ Who are the key market players and the market strategies that have helped them to secure the leading position in the global market?

☛ What are the challenges and threats that are likely to act as a barrier to the growth of the Automotive Elastomers market?

☛ What are the major opportunities that the companies can get to attain success in the world?

Contact Us -
Company Name: DataM Intelligence
Contact Person: Sai Kiran
Email: Sai.k@datamintelligence.com
Phone: +1 877 441 4866
Website: https://www.datamintelligence.com

About Us -
DataM Intelligence is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.
Our research database features countless statistics and in-depth analyses across a wide range of 6300+ reports in 40+ domains creating business solutions for more than 200+ companies across 50+ countries; catering to the key business research needs that influence the growth trajectory of our vast clientele.

This release was published on openPR.