Automotive Elastomers Market Share

As per Market Research Future Analysis, the automotive elastomers market is projected to grow at a CAGR of 5.32%, reaching approximately USD 46,463 million by 2030. The automotive sector accounts for around 45% of the elastomer market, driven by the demand for lightweight materials and increased use of recycled rubber. The market has faced challenges due to fluctuating raw material prices, particularly petroleum-based rubber. The tire segment dominates the market, holding about 60% of the total share, while the Asia Pacific region is expected to account for nearly half of the market by 2025.

Key players include Teknor Apex Company, Kuraray Co., Saudi Basic Industries Corporation, JSR Corporation, and Exxon Mobil Corp.

Recent developments in automotive elastomer markets are:

• Jan 2022 -

  The 50 percent ownership position in the 50/50 joint venture, Magnifin Magnesiaprodukte GmbH & Co. KG, was acquired by Huber Engineered Materials from refractory products and systems and services supplier RHI Magnesita. This transformation is a good strategic match for HEM's purpose of owning and operating market-leading specialized chemical and mineral enterprises. Martinswerk GmbH, a subsidiary of HEM, sells Magnifin products worldwide as part of the HEM Fire Retardant Additives (FRA) strategic business unit, which manufactures a variety of smoke suppressants, halogen-free fire retardants, and specialty aluminum oxides to improve the smoke, fire, and toxicity (FST) properties of composite parts. Energy and LAN data cables, technical thermoplastics (e.g., connectors), automobile wire and cable, and construction membranes are all examples of fire-retardant applications. Magnifin coated and uncoated magnesium hydroxides are stated to be halogen-free fire retardants utilized in a wide range of polymer applications, particularly thermoplastic polymers and elastomers needing high processing temperatures above 300°C.

• Jan 2022 -

  Carlisle Polyurethane Systems, a market leader in developing, manufacturing, and marketing high-performance, spray-applied protective coatings, is happy to announce the rebranding and expansion of its Intellathane product line. Intellathane protective elastomeric coatings are tough, abrasion-proof, and impact-resistant. They are designed to resist cracking, flaking, bubbling, or peeling, creating a nearly impenetrable seal that coats surfaces and protects them from repeated and devastating impacts, weathering, temperature extremes, and harsh chemical environments. Heavy industrial, farm, truck/automotive, mining, military, and storage equipment are all protected by Intellathane elastomeric spray coatings.
• Thermoplastic polymers have been introduced, which have the properties of plastics and polymers. These have high strength like plastics and excellent elasticity like polymers.
• Biopolymers have been introduced in the market with superb properties.
• Elastomers with properties that exhibit tensile strength more than many others have also been introduced.
• In the recent developments mad win the field of automotive elastomers, the focus has been laid on the elasticity to remain lightweight.
• While elastomers are known for their ability to stretch to a great extend, recent innovations have not only considered this, but advanced polymers have also been bought in the market.
• The emphasis on comfort has led manufacturers to turn to polyolefin elastomers to produce customized shapes. The ENGAGE series of elastomers by Dow Chemicals has answered this call by being suitable for interior and exterior parts. The elastomers are easy to process and paint, reduce overall vehicle weight, and create a striking impression by being appealing to customers. Their applications include rocker panels, knee bolsters, instrument panel components, front-end body panels, and others.
• Kuraray Elastomers relies on liquid butadiene rubber (LBR) for rubber applications which need to function in high temperatures. They are a perfect fit for cables, gaskets, and hoses in cars. The incorporation of LBR in EPDM can enhance its hardness, compression set, and curing properties with other components.
• Mitsui Chemicals Inc. has announced the planning of closure for the Mitsui Chemicals Exclusive Railway, for conveying raw materials to the company’s Omuta Works in Fukuoka, Japan. These coal trains were in service for more than 100 years and therefore a farewell project for these trains accounting for the long history and to capture the legacy of these trains for the future.