High-Temperature Elastomers Market Size, Share, Growth Report 2030
Description
According to the report published by Zion Market Research, the global High-Temperature Elastomers Market size was valued at USD 13.01 Billion in 2022 and is predicted to reach USD 24.09 Billion by the end of 2030. The market is expected to grow with a CAGR of 8.01% during the forecast period. The report analyzes the global High-Temperature Elastomers Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the High-Temperature Elastomers Market industry.
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Global High-Temperature Elastomers Market: Overview
Elastomers are basically polymers, which have high viscosity and elasticity but weak intermolecular force. The elastomers have the property of elasticity that is it regains its original shape on the removal of the deforming forces. Monomers of elastomers consist of silicon, carbon, oxygen, and hydrogen. Elastomers are of two type one containing thermoplastic properties other with thermosetting properties. Thermoplastic elastomers belong to polymers category and they melt at a specific temperature. However, thermosetting elastomers do not melt at high temperatures hence are called as high-temperature elastomers. Commonly high-temperature elastomers do not melt but convert into gaseous state at high temperatures. The properties inherent in elastomers are high elongation, flexibility, and combination of damping and resilience. These set of properties of elastomers make them an ideal material for seals, isolators, and gaskets.
Global High-Temperature Elastomers Market: Growth Factors
High-temperature elastomers are broadly used in wide range of applications and in various industries such as construction, transportation, and automotive industry thus driving the global high-temperature elastomers market. They are extensively used in the manufacturing process of seat covers, specialty rubber, tyres, and other materials. Major companies in the high-temperature elastomers market are heavily investing in the development of new and innovative products. There is an increased use of elastomers in the oil & gas industry for facilitating downhole packers sealing, progressing cavity pumps, and provide sealing materials for valves and equipment thus fueling the growth for the market.
Global High-Temperature Elastomers Market: Segmentation
The global high-temperature elastomers market is categorized based on the application as consumer goods, transportation, industrial machinery, electrical & electronics, healthcare, and others. Based on the type, the global market is fragmented into perfluorocarbon elastomers, fluorocarbon elastomers, silicone elastomers, fluorsilicone elastomers, and others.
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Global High-Temperature Elastomers Market: Regional Analysis
Asia Pacific has witnessed growth in high-temperature elastomers market owing to expanding construction industry and rapid economic growth. Asia Pacific accounted for largest market share in the global market owing to increasing number of automobile manufacturing companies. The growth of food & beverage industries, pharmaceutical, aerospace, and automotive industries in North America and European region have anticipated the growth of the high-temperature elastomers market. The investments made for new development technologies have further boosted the high-temperature elastomers market. Usage of elastomers in oil and gas industries, refrigeration industry, and other industries in countries such as UAE, Saudi Arabia, Dubai, Morocco, South Africa, Egypt and in the Middle East and Africa regions have fueled the growth of the market. Favorable growth in the automobile manufacturing, healthcare, and consumer goods sectors in the South American region is driving the market growth.
Global High-Temperature Elastomers Market: Competitive Players
The market for high-temperature elastomers is highly competitive due to presence of numerous players such as:
- Dow Corning Corporation
- Solvay S.A.
- Momentive Performance Materials, Inc.
- E.I. duPont de Nemours and Company
- Wacker Chemie A.G.
The global High-Temperature Elastomers Market is segmented as follows:
By Application
- consumer goods
- transportation
- industrial machinery
- electrical & electronics
- healthcare
- and others
By Type
- perfluorocarbon elastomers
- fluorocarbon elastomers
- silicone elastomers
- fluorsilicone elastomers
- and others
Global High Temperature Elastomers Market: Regional Segment Analysis
- North America
- U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- Middle East and Africa
What Report Provides
- Full in-depth analysis of the parent market
- Important changes in market dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional markets
- Testimonials to companies in order to fortify their foothold in the market.
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