Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the Performance Elastomers Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
How Will the Performance Elastomers Market Grow Between 2024 and 2025?
The market size of the performance elastomers has been experiencing robust growth over the years. It was projected to increase from $16.96 billion in 2024 to $18.55 billion in 2025, with a compound annual growth rate (CAGR) of 9.4%.
How Much Will the Performance Elastomers Market Be Worth in 2029?
The Performance Elastomers market is expected to reach a value of $27.88 billion in 2029, with a compound annual growth rate (CAGR) of 10.7%.
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Which Performance Elastomers Market Drivers Are Linked to Revenue Growth?
The key Drivers in the performance elastomers market are:
• Growing demand within the automotive and transportation industry for performance elastomers
• Rising standard of living and purchasing power across global economies
• Increased preferences for private transportation methods promoting social distancing due to the COVID-19 pandemic
• Adoption of EV vehicles, which use performance elastomers, due to rising gas prices.
Which Segments Are Expected to Grow in the Performance Elastomers Market?
The performance elastomersmarket covered in this report is segmented –
1) By Type: Nitrile-Based Elastomers, Fluoroelastomer, Silicone Elastomers, Other Types
2) By End-Use Industry: Automotive And Transportation, Healthcare, Industrial Machinery, Building And Construction, Electrical And Electronics, Other End-Use Industry
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What Are The Key Trends Impacting Growth In The Global Performance Elastomers Market?
The key trends in the performance elastomers market are:
• An emerging trend in the performance elastomer market is the development of eco-friendly high-performance elastomers.
• The increased environmental concern is causing a shift towards the need for eco-friendly elastomer products.
• There is a significant focus on sustainable and bio-based elastomers to achieve eco-friendly objectives.
• Companies are developing eco-friendly and safe elastomers to strengthen their market position.
Who Are the Key Competitors in the Global Performance Elastomers Market?
The key players in the performance elastomers market are:
• Du Pont de Nemours
• Arlanxeo
• Zeon Chemicals LP
• Solvay S.A
• Dow Corning Corporation
• Momentive Performance Materials Inc.
• Shin-Etsu Chemical Co.
• LANXESS AG
• Huntsman Corporation
• Covestro AG
• ExxonMobil Chemical
• BASF SE
• LG Chem Ltd
• Kuraray Co
• Sumitomo Chemical Co.
• Mitsubishi Chemical Corporation
• Tosoh Corporation
• Asahi Kasei Corporation
• JSR Corporation
• Arkema S
• Evonik Industries AG
• Cabot Corporation
• Trinseo LLC
• KRAIBURG TPE GmbH & Co
• Teknor Apex Company
• RTP Company
• PolyOne Corporation
Where Is the Performance Elastomers Market Growing Fastest Between 2025 and 2029?
Asia-Pacific was the largest region in the performance elastomers market in 2024
