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Global High Temperature Elastomers Market: Market Segments:By Type (Fluorocarbon, Perfluorocarbon, Silicone, Fluorosilicone& Others);By Application (Automobile & Transportation, Semiconductor & Electronics, Healthcare, Consumer Products, Industrial Machinery& Others);and Region - Analysis of Market Size, Share & Trends for 2014 - 2019 and Forecasts to 2030
Special polymers that are very elastic are elastomers. With a glass transition temperature far below room temperature, they are lightly cross-linked and amorphous. It is possible to perceive them as one very large molecule of macroscopic size. There are very weak intermolecular forces between the polymer chains. The crosslinks totally suppress irreversible flow, but at temperatures above the glass transition, the chains are very flexible, and a small force leads to large deformation. Thus, as opposed to other polymers, elastomers have a low Young's modulus and very high elongation at break. The term elastomer is often used interchangeably with the term rubber, although the latter is preferred when referring to vulcanized rubbers. High-temperature elastomers refer to elastomers with elastic properties consisting of long-chain atoms. These have general rubber uses for high-performance chemical and automotive industries.
Global High-Temperature Elastomers Market to surpass USD 21.94 million by 2030 from USD 9.85 million in 2018 at a CAGR of 7.6% throughout the forecast period, i.e. 2019-30. In the automotive, healthcare, consumer goods, and electronics industries, market growth is driven by the growing adoption of these elastomers. Furthermore, rampant transport demand mainly for the aircraft and automotive industries is expected to contribute effectively to the growth of the Global high-temperature elastomers market over the forecast period.
Global High-Temperature Elastomers Market is segmented by type into fluorocarbon, silicone, perfluoro elastomers, fluorosilicone, and others. The greater market share in 2019 was accounted for by the silicone elastomers segment and is projected to lead the High-Temperature Elastomers market in terms of value during the forecast period. The increasing market revenue of this segment is attributed to the enormous demand for silicone elastomers from the automotive and construction industries, which is driving the growth of the global market for high-temperature elastomers in particular. Also, its wide use as a sealant and structural glazing material in the construction industry, while in the automotive industry, these elastomers are used in cure place gaskets and vibration dampers.
Global High-Temperature Elastomers Market is segmented by application into automobile and transportation, semiconductor and electronics, healthcare, consumer products, industrial machinery, and others. Based on the Application, automobile and transportation are projected to lead the High-Temperature Elastomers market in terms of volume sales during the forecast period. In the transport, automotive, and aerospace industries, the demand for these elastomers is growing as they can withstand extreme temperatures and have good chemical and solvent resistance. The automotive industry is constantly using high-temperature elastomers in its business operations which expands the market size of global high-temperature elastomers.
The rapid growth of the automotive industry, together with the extensive use of high-temperature elastomers, is driving the growth of the global market for high-temperature elastomers. The automotive industry is experiencing substantial growth in emerging economies such as Latin America and Asia-Pacific due to rapid growth in the demand for high-temperature elastomers. The different beneficial properties of these elastomers include resilience, toughness, and resistance to automotive lubricants and excessive heat. In addition, in various other sectors, such as oil & gas, energy, transport, aerospace, and healthcare, high-temperature elastomers are commonly used thus results in an increase in demand over the coming years.
Rising industry investment by key producers in the production of advanced elastomers is the main factor seen in the market for high-temperature elastomers. In order to extend the application areas of these elastomers and target new markets for business development, businesses have begun investing in R&D processes. The growing demand for new and advanced polymers with unique properties is forcing producers to invest in them.
The construction of a highly capital-intensive production unit is a major factor hindering the development of the demand for high-temperature elastomers. In comparison with other ordinary elastomers, the manufacturing cost of these elastomers is higher. Under favorable conditions, the use of ordinary elastomers may be cost-effective; but when the temperature rises, ordinary elastomers do not function efficiently and appear to fail. The cost of components made from high-performance materials can be much higher than the cost of another elastomer, but the added protection gained is considered to justify the higher price economically thus hampering the overall High-Temperature Elastomers market.
Global High-Temperature Elastomers Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA.
Global High-Temperature Elastomers Market in the APAC region held the largest market share of XX.X% in 2018 and the trend is likely to continue during the forecast period. Market growth in the area is driven by the presence of different end-use industries, a rise in construction activity, the presence of a large number of manufacturing companies in the electrical and electronics industries, and rapid economic growth. Furthermore, due to the growing industrial base in these countries, the growing economies of China and India are expected to further drive market growth. The growth of the food & beverage, pharmaceutical, aerospace, and automotive industries in the North American and European regions are expected by the growth of the demand for high-temperature elastomers. The investments made in new generation technologies further expanded the demand for high-temperature elastomers over the coming years.
The global High-Temperature Elastomers market, which is highly competitive, consists of several major players. Companies, such as Dow Corning Corporation, KCC Corporation, Solvay S.A., hold a substantial market share in the High-Temperature Elastomers market. Other players analyzed in this report are Momentive Performance Materials Inc., Wacker Chemie AG, 3M Company, Daikin Industries Ltd., RTP Company, Shin-Etsu Chemical Co. Ltd., and The Chemours Company among others.
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