Performance Elastomers Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Nitrile-Based, Silicone-Based, Fluoroelastomers, Others), By End Use (Automotive & Transportation, Building & Construction, Others), By Region and Competition

Abstract
Global Performance Elastomers is expected to grow impressively due to the growing demand from the building & construction industry through 2028. In 2021, the Japanese rubber manufacturer JSR Corporation sold elastomers worth approximately USD 744.9 million.
The market's demand for Performance Elastomers is rising due to rapid industrialization across several areas. They are widely utilized in the gas and oil industries for exploration and production as modifiers for plastic and adhesive raw materials. Moreover, Performance elastomers such as neoprene and silicone are widely used in the electronic and food & beverage sectors due to their exceptional abrasion, impact, water, and flame resistance, as well as their outstanding UV, ozone, and weather resistance capabilities. With the increasing demand for specialty products like hoses, seals, gaskets, and diaphragms, the demand for performance elastomers has increased globally. These factors will drive the global performance elastomers market in the upcoming years.
Growing Awareness Regarding Superior Properties of Performance Elastomer
Performance elastomers displace standard elastomers due to their distinct characteristics, including greater durability, flexibility, heat resistance, chemical resistance, aging resistance, a wide range of oil & gas resistance, enhanced performance, and a long-life cycle. Performance elastomers such as silicone elastomers enhance heat resistance over 300°C by using polysiloxane additives. With respect to these properties, the demand for performance elastomers increases globally in the building & construction sectors. These characteristics will drive the performance elastomers market in the forecast period.
Moreover, Althan Quartier starts construction of USD 507 million, which includes the construction of hotels, commercial facilities, and more using performance elastomers in the fourth quarter of 2021.
Rising demand from Automotive Industry
Key properties such as flexibility, strength, and high strength allow varied applications of elastomers in the automotive industry, such as manufacturing wires & cables, puncture-resistant seals, and providing impact resistance in vehicle interiors. Widespread adoption of EV vehicles, which seek to lower costs and boost efficiency, has coincided with the rise in petroleum prices. Due to their lightweight nature and vast design flexibility for interior and exterior components, performance elastomers have seen an increase in vehicle application due to the growing demand for automobiles.
For instance, according to European Automobile Manufacturers Association, in 2021, 79.1 million motor vehicles were produced worldwide, a 1.3% increase over 2020. Additionally, according to the Global EV Outlook 2021, consumers spent USD 120 billion on electric vehicle purchases in 2020, a 50% increase over 2019. Therefore, increasing vehicle production has boosted performance elastomers' use; consequently, the demand for the global performance elastomers market will increase in the upcoming years.
Development of eco-friendly high-performance elastomers
A prominent trend gaining traction in the performance elastomer market is the development of environmentally friendly high-performance elastomers. The rise in environmental awareness drives the need for eco-friendly elastomer goods. Products made of sustainable and bio-based elastomers are essential for accomplishing these goals. To improve their market position, several businesses that deal with performance elastomers are creating eco-friendly and secure elastomers for their customers.
ENGAGE REN, a plant-based high-performance polyolefin elastomer produced by Dow Inc. used in sustainable footwear. Using this elastomer, the footwear industry reduces its carbon footprint and produces sustainable products with the same quality. Therefore, the performance elastomers market will grow globally during the forecast period.
Recent Developments
•In May 2022, a novel high-performance polyolefin elastomer (POE) made from plant-based feedstock was introduced by Dow Inc.
•Performance Elastomers Corporation (PEC) was purchased by Pexco LLC, a top specialty plastics extruder in North America, in December 2021.
•Huntsman Chemical acquired Gabriel Performance Products in January 2021 to expand its specialty chemicals portfolio.
•In December 2019, for the production of thermoplastic elastomer (TPE), SirmaxSpA unveiled a new compounding facility situated in Poland.
Market Segmentation
Global Performance Elastomers Market is segmented based on type, end use, and region. Based on the type, the market is categorized into nitrile-based, silicone-based, fluoroelastomers, and others. Based on the end use, the market is fragmented into automotive & transportation, building & construction, and others. Based on region, the market is divided into North America, Europe, Asia Pacific, South America, Middle East & Africa, By Company.
Market Players
Pexco LLC, DuPont de Nemours, Inc., Celanese SO.F.TER.Corp., 3M Co., Zeon Chemicals L.P., Solvay S.A., Momentive Performance Materials Inc., Polycom GmbH, Wacker Chemie AG, Mitsui Elastomers Singapore Pte Ltd are some of the key players of the Global Performance Elastomers Market.

Report Scope:
In this report, global performance elastomers market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
•Performance Elastomers Market, By Type:
oNitrile-Based
oSilicone-Based
oFluoroelastomers
oOthers
•Performance Elastomers Market, By End Use:
oAutomotive & Transportation
oBuilding & Construction
oOthers
•Performance Elastomers Market, By Region:
oNorth America
United States
Mexico
Canada
oEurope
France
Germany
United Kingdom
Spain
Italy
Sweden
oAsia-Pacific
China
India
South Korea
Japan
Thailand
Singapore
oSouth America
Brazil
Argentina
Colombia
oMiddle East & Africa
South Africa
Saudi Arabia
UAE
Competitive landscape

Company Profiles: Detailed analysis of the major companies present in global performance elastomers market.

Available Customizations:
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
•Detailed analysis and profiling of additional market players (up to five).

Content
Table of Contents

1.Product Overview
1.1.Market Definition
1.2.Scope of the Market
1.2.1.Markets Covered
1.2.2.Years Considered for Study
1.2.3.Key Market Segmentations
2.Research Methodology
2.1.Objective of the Study
2.2.Baseline Methodology
2.3.Key Industry Partners
2.4.Major Association and Secondary Sources
2.5.Forecasting Methodology
2.6.Data Triangulation & Validation
2.7.Assumptions and Limitations
3.Executive Summary
3.1.Overview of the Market
3.2.Overview of Key Market Segmentations
3.3.Overview of Key Market Players
3.4.Overview of Key Regions/Countries
3.5.Overview of Market Drivers, Challenges, Trends
4.Voice of Customer
5.Global Performance Elastomers Market Outlook
5.1.Market Size & Forecast
5.1.1.By Value & Volume
5.2.Market Share & Forecast
5.2.1.By Type (Nitrile-Based, Silicone-Based, Fluoroelastomers, Others)
5.2.2.By End Use (Automotive & Transportation, Building & Construction, Others)
5.2.3.By Region (North America, Europe, Asia Pacific, South America, Middle East & Africa)
5.2.4.By Company (2022)
5.3.Market Map
5.3.1.By Type
5.3.2.By End Use
5.3.3.By Region
6.North America Performance Elastomers Market Outlook
6.1.Market Size & Forecast
6.1.1.By Value & Volume
6.2.Market Share & Forecast
6.2.1.By Type
6.2.2.By End Use
6.2.3.By Country
6.3.Pricing Analysis
6.4.North America: Country Analysis
6.4.1.United States Performance Elastomers Market Outlook
6.4.1.1.Market Size & Forecast
6.4.1.1.1.By Value & Volume
6.4.1.2.Market Share & Forecast
6.4.1.2.1.By Type
6.4.1.2.2.By End Use
6.4.2.Mexico Performance Elastomers Market Outlook
6.4.2.1.Market Size & Forecast
6.4.2.1.1.By Value & Volume
6.4.2.2.Market Share & Forecast
6.4.2.2.1.By Type
6.4.2.2.2.By End Use
6.4.3.Canada Performance Elastomers Market Outlook
6.4.3.1.Market Size & Forecast
6.4.3.1.1.By Value & Volume
6.4.3.2.Market Share & Forecast
6.4.3.2.1.By Type
6.4.3.2.2.By End Use
7.Europe Performance Elastomers Market Outlook
7.1.Market Size & Forecast
7.1.1.By Value & Volume
7.2.Market Share & Forecast
7.2.1.By Type
7.2.2.By End Use
7.2.3.By Country
7.3.Pricing Analysis
7.4.Europe: Country Analysis
7.4.1.France Performance Elastomers Market Outlook
7.4.1.1.Market Size & Forecast
7.4.1.1.1.By Value & Volume
7.4.1.2.Market Share & Forecast
7.4.1.2.1.By Type
7.4.1.2.2.By End Use
7.4.2.Germany Performance Elastomers Market Outlook
7.4.2.1.Market Size & Forecast
7.4.2.1.1.By Value & Volume
7.4.2.2.Market Share & Forecast
7.4.2.2.1.By Type
7.4.2.2.2.By End Use
7.4.3.United Kingdom Performance Elastomers Market Outlook
7.4.3.1.Market Size & Forecast
7.4.3.1.1.By Value & Volume
7.4.3.2.Market Share & Forecast
7.4.3.2.1.By Type
7.4.3.2.2.By End Use
7.4.4.Spain Performance Elastomers Market Outlook
7.4.4.1.Market Size & Forecast
7.4.4.1.1.By Value & Volume
7.4.4.2.Market Share & Forecast
7.4.4.2.1.By Type
7.4.4.2.2.By End Use
7.4.5.Italy Performance Elastomers Market Outlook
7.4.5.1.Market Size & Forecast
7.4.5.1.1.By Value & Volume
7.4.5.2.Market Share & Forecast
7.4.5.2.1.By Type
7.4.5.2.2.By End Use
7.4.6.Sweden Performance Elastomers Market Outlook
7.4.6.1.Market Size & Forecast
7.4.6.1.1.By Value & Volume
7.4.6.2.Market Share & Forecast
7.4.6.2.1.By Type
7.4.6.2.2.By End Use
8.Asia-Pacific Performance Elastomers Market Outlook
8.1.Market Size & Forecast
8.1.1.By Value & Volume
8.2.Market Share & Forecast
8.2.1.By Type
8.2.2.By End Use
8.2.3.By Country
8.3.Pricing Analysis
8.4.Asia-Pacific: Country Analysis
8.4.1.China Performance Elastomers Market Outlook
8.4.1.1.Market Size & Forecast
8.4.1.1.1.By Value & Volume
8.4.1.2.Market Share & Forecast
8.4.1.2.1.By Type
8.4.1.2.2.By End Use
8.4.2.India Performance Elastomers Market Outlook
8.4.2.1.Market Size & Forecast
8.4.2.1.1.By Value & Volume
8.4.2.2.Market Share & Forecast
8.4.2.2.1.By Type
8.4.2.2.2.By End Use
8.4.3.South Korea Performance Elastomers Market Outlook
8.4.3.1.Market Size & Forecast
8.4.3.1.1.By Value & Volume
8.4.3.2.Market Share & Forecast
8.4.3.2.1.By Type
8.4.3.2.2.By End Use
8.4.4.Japan Performance Elastomers Market Outlook
8.4.4.1.Market Size & Forecast
8.4.4.1.1.By Value & Volume
8.4.4.2.Market Share & Forecast
8.4.4.2.1.By Type
8.4.4.2.2.By End Use
8.4.5.Thailand Performance Elastomers Market Outlook
8.4.5.1.Market Size & Forecast
8.4.5.1.1.By Value & Volume
8.4.5.2.Market Share & Forecast
8.4.5.2.1.By Type
8.4.5.2.2.By End Use
8.4.6.Singapore Performance Elastomers Market Outlook
8.4.6.1.Market Size & Forecast
8.4.6.1.1.By Value & Volume
8.4.6.2.Market Share & Forecast
8.4.6.2.1.By Type
8.4.6.2.2.By End Use
9.South America Performance Elastomers Market Outlook
9.1.Market Size & Forecast
9.1.1.By Value & Volume
9.2.Market Share & Forecast
9.2.1.By Type
9.2.2.By End Use
9.2.3.By Country
9.3.Pricing Analysis
9.4.South America: Country Analysis
9.4.1.Brazil Performance Elastomers Market Outlook
9.4.1.1.Market Size & Forecast
9.4.1.1.1.By Value & Volume
9.4.1.2.Market Share & Forecast
9.4.1.2.1.By Type
9.4.1.2.2.By End Use
9.4.2.Argentina Performance Elastomers Market Outlook
9.4.2.1.Market Size & Forecast
9.4.2.1.1.By Value & Volume
9.4.2.2.Market Share & Forecast
9.4.2.2.1.By Type
9.4.2.2.2.By End Use
9.4.3.Colombia Performance Elastomers Market Outlook
9.4.3.1.Market Size & Forecast
9.4.3.1.1.By Value & Volume
9.4.3.2.Market Share & Forecast
9.4.3.2.1.By Type
9.4.3.2.2.By End Use
10.Middle East and Africa Performance Elastomers Market Outlook
10.1.Market Size & Forecast
10.1.1.By Value & Volume
10.2.Market Share & Forecast
10.2.1.By Type
10.2.2.By End Use
10.2.3.By Country
10.3.Pricing Analysis
10.4.MEA: Country Analysis
10.4.1.South Africa Performance Elastomers Market Outlook
10.4.1.1.Market Size & Forecast
10.4.1.1.1.By Value & Volume
10.4.1.2.Market Share & Forecast
10.4.1.2.1.By Type
10.4.1.2.2.By End Use
10.4.2.Saudi Arabia Performance Elastomers Market Outlook
10.4.2.1.Market Size & Forecast
10.4.2.1.1.By Value & Volume
10.4.2.2.Market Share & Forecast
10.4.2.2.1.By Type
10.4.2.2.2.By End Use
10.4.3.UAE Performance Elastomers Market Outlook
10.4.3.1.Market Size & Forecast
10.4.3.1.1.By Value & Volume
10.4.3.2.Market Share & Forecast
10.4.3.2.1.By Type
10.4.3.2.2.By End Use
11.Market Dynamics
11.1.Drivers
11.2.Challenges
12.Market Trends & Developments
12.1.Recent Developments
12.2.Product Launches
12.3.Mergers & Acquisitions
13.Global Performance Elastomers Market: SWOT Analysis
14.Porter’s Five Forces Analysis
14.1.Competition in the Industry
14.2.Potential of New Entrants
14.3.Power of Suppliers
14.4.Power of Customers
14.5.Threat of Substitute Types
15.Competitive Landscape
15.1.Business Overview
15.2.Type Offerings
15.3.Recent Developments
15.4.Financials (In Case of Listed Companies)
15.5.Key Personnel
15.6.SWOT Analysis
15.6.1.Performance Elastomers Corporation
15.6.2.DuPont de Nemours, Inc.
15.6.3.Celanese SO.F.TER.Corp
15.6.4.3M Co.
15.6.5.Zeon Chemicals L.P.
15.6.6.Solvay S.A.
15.6.7.Momentive Performance Materials Inc.
15.6.8.Polycom GmbH
15.6.9.Wacker Chemie AG
15.6.10.Mitsui Elastomers Singapore Pte Ltd
16.Strategic Recommendations