The global performance elastomer industry generated $15.8 billion in 2021, and is anticipated to generate $31.6 billion by 2031, witnessing a CAGR of 7.2% from 2022 to 2031.  

 

Allied Market Research published a report, titled, "Performance Elastomer Market by Type (Nitrile based Elastomers, Silicone Elastomers, Fluoroelastomers, Others), by End Use Industry (Automotive and Transportation, Healthcare, Industrial Machinery, Building and Construction, Electrical and Electronics, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031".  

 

 Access Full Summary Report:  https://www.alliedmarketresearch.com/performance-elastomer-market-A31629 

 

Leading Market Players: - 

  • DuPont de Nemours, Inc. 

  • Wacker Chemie AG 

  • Exxon Mobil Corporation 

  • Mitsui Chemical Inc 

  • BASF SE 

  • Zeon Chemicals L.P. 

  • Solvay S.A. 

  • Dow 

  • 3M Company 

  • Daikin Industries Ltd. 

 

Prime determinants of growth 

The superior qualities and excellent properties of performance elastomers over ordinary elastomers, application in the transportation and automotive industries, and the rising disposable income and purchasing power of consumers drive the growth of the global performance elastomer market. However, the fact that performance elastomer is incapable of biodegradation and causes harm to the environment restrict the market growth. On the other hand, rising awareness regarding the use of performance elastomer and tight government rules and regulations related to the use of rubber present new opportunities in the coming years.