0

Rising Demand for High Efficiency Vehicles to Drive the Growth of Automotive Elastomers Market in Future

Share This Post

The global automotive elastomers market is segmented into type such as synthetic elastomers and thermoplastic elastomers. Among these segments, thermoplastic automotive elastomers segment is expected to occupy top position in overall automotive elastomers market during the forecast period. Factors such as high flexibility and desired customization and rising demand for lightweight automotive vehicles are driving the growth of the thermoplastic automotive elastomers segment. However, synthetic elastomers segment is anticipated to grow at a highest pace in overall automotive elastomers market. This can be attributed to the development of specialty grades synthetic elastomers by various major manufacturers.

Global automotive elastomers market is expected to flourish at a significant CAGR of 5.72% during the forecast period. Moreover, the global automotive elastomers market is expected to garner USD 9.2 Billion by the end of 2024. Rising utilization of lightweight materials for automotive manufacturing, stringent emission norms and increasing demand for fuel efficient vehicles are some of the key factors driving the growth of the market of automotive elastomers market.

Automotive Elastomers Market

Request Free Sample Report @ https://www.researchnester.com/sample-request/2/rep-id-311

Asia Pacific dominated the overall automotive elastomers market and is expected to continue its dominance over the forecast period. This can be attributed to spiked production of vehicle in the region. Further, rising disposable income coupled with increasing living standard is expected to accelerate the growth of automotive market in the upcoming years. North America and Europe automotive elastomer market is anticipated to witness robust growth during the forecast period. Stringent emission and fuel efficiency regulations are resulting in substantial demand for lightweight automotive manufacturing products such as elastomers. Moreover, Latin America is anticipated to grow at modest CAGR during the forecast period. Further, growing automotive industry in the region is anticipated to drive the growth of the automotive elastomer in Latin America.

Request Table Of Content @ https://www.researchnester.com/toc-request/1/rep-id-311

Robust Growth of Automotive Industry

Increasing global population coupled with rising per capita income is expected to provide robust growth to the automotive industry in the upcoming years. Consequently, the demand for automotive elastomers is anticipated to witness significant growth in the upcoming years. Moreover, high emphasis on utilization of lightweight materials is expected to accelerate the growth of automotive elastomers market during the forecast period.

Stringent Government Regulations

Initiatives by government authorities to reduce the carbon and greenhouse gases emission are anticipated to drive the growth of the automotive elastomers market. For instance, recent changes in Chinese environmental policies are anticipated to positively impact the growth of the market.

Although, volatility in the price of raw materials is likely to dampen the growth of automotive elastomers market during the forecast period.

The report titled Automotive Elastomers Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global automotive elastomers market in terms of market segmentation by type, by application and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

This report also provides the existing competitive scenario of some of the key players of the global automotive elastomers market which includes company profiling of Huntsman International LLC, The Dow Chemical Company, LANXESS, BASF SE, Exxon Mobil Corporation, E. I. du Pont de Nemours and Company, Motherson Automotive Elastomer Technology, Covestro AG, Kuraray Elastomer Division (division of Kuraray Co., Ltd.) and Continental AG. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global automotive elastomers market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

To Know More Ask The Analyst @ https://www.researchnester.com/ask-the-analyst/rep-id-311

About Us:- 

Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.

Buy This Premium Report @ https://www.researchnester.com/payment/rep-id-311

Contact for more Info:

Ajay Daniel

Email: ajay.daniel@researchnester.com

U.S. Phone: +1 646 586 9123

U.K. Phone: +44 203 608 5919

Ajay Daniel

Research Nester is a leading service provider for strategic market research and consulting, serving clients from 120+ countries across the globe. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.

Through our robust, unbiased extensive primary and secondary research, we help organizations to understand current and future market trends, thus letting them making a prolonged yet dynamic financial investment. We never believe in working as a consultant for our clients but as a business partner, helping the business to grow with a positive wave. With our high level of in-depth industry knowledge and analysis, you always can rely upon us for current market estimation and respective future market forecast for every geographical region.

Leave a Reply

Your email address will not be published. Required fields are marked *