According to recent analysis done by Fact.MR, a market research and competitive intelligence provider, the high temperature elastomers market is expected to expand at a CAGR of 7.1% by value and reach US$ 25.5 billion by the end of 2032.
High temperature elastomers are widely used in the automobile and transportation industry in tires, seat covers, and other rubber products. Fluorosilicone elastomers, silicone elastomers, perfluorocarbon elastomers, and fluorocarbon elastomers are some of the commonly used types of high temperature elastomers. These are also used as additives in other major industries such as electrical & electronics, industrial machinery, consumer goods, and healthcare.
Most market players are striving for certifications from several associations and organizations, to advertise that their products are safer to use, sustainable, reliable, and durable. The market is dominated both, from the suppliers’ and end users’ side.
Key Takeaways from Market Study
- The global high temperature elastomers market is assessed at US$ 12.9 billion in 2022.
- The market for high temperature elastomers is projected to expand at a CAGR of 7.1% over the forecast period of 2022-2032.
- On the basis of type, demand for silicone elastomer is likely to increase at a CAGR of 7.9% through 2032.
- Segmentation of market on the basis of type reveals that, demand for fluorsilicon and perfluorocarbon elastomers is likely to grow at CAGRs of 7.4% and 5.3%, respectively.
- The Asia Pacific regional market is poised to expand at a CAGR of 8.5%, which is higher than any other market.
“Over the coming years, demand growth of high temperature elastomers in emerging markets will continue to outstrip that of the developed world by a wide margin,” says a Fact.MR analyst.
High temperature elastomer manufacturers are focusing on marking their business presence globally by making use of multiple marketing strategies such as partnerships, acquisitions and mergers, collaborations, etc.
Disturbances in the global demand and supply market over the last few years are expected to provide numerous new opportunities over the coming years. They are focusing on constant innovation in the market to garner a wider consumer base and enhance their revenue streams.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the high temperature elastomers market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of type (silicone, fluorsilicon, fluorocarbon, and perfluorocarbon elastomers) and region (North America, Latin America, Europe, APAC, and MEA)
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