Elastomers are a special breed of polymers that are rubbery material and are very elastic. These are composed of a long chain-like molecule that returns to their original shape after being stretched. Elastomers have a wide range of applications owing to its extravagant properties such as heat resistance, fluid compatibility, easy sterilization, abrasion resistance, and tear resistance. These properties have induced the demands of elastomers from various end-user industries such as medical, automotive, consumer goods, and electronics industry. Most of the demands of elastomers come from the heating, ventilation, and air conditioning (HVAC) industry, in the form of thermoplastic polymer (TPE), because they are cost efficient, highly functional, and readily adaptable.
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So, as per the market outlook foreseen by the IndustryARC’s business intelligence report, titled “Elastomers Market: By Type (Thermoplastic & Thermoset Elastomers); By Process (Extrusion, Injection Molding, Blow Molding, Compression Molding, Others); By End-Use (Automotive, Aerospace, Appliance, Footwear, Photovoltaic, Electrical & Electronics, Others) & Geography – Forecast (2018-2025),” the demand will continue coming in substantially.
Elastomers Market Growth Drivers and Restraints
• Scientists from around the globe have been experimenting for years to achieve an element which can change texture and colors, subsequently, they came up with elastomers. When elastomers is embedded with special mechanically responsive molecules, they tend to change color and texture at specific voltage changes. This newly produced product can change the dynamics of the military and defense industry as this product will be capable of camouflaging in any given situation and environment.
• The medical equipment manufacturing industry is also using elastomers extensively. They are used in instrument panels as soft touch buttons. Their property to sterilize easily is the main aspect which is incrementing adoption of elastomers in the medical industry.
• The automotive parts, mostly interiors, are manufactured using elastomers. It used in belts, bellows, and gaskets. The prosperity of the automotive industry in emerging economies, consistently profitable transport industry, and growing spare parts industry are an important facilitator for the elastomers market.
• The increasing demands for durable and flexible plastic from the consumer good industry is another growth driver for the elastomers market. High-quality elastomers are used as an alternative for metals, consequently reducing the weight of the end product.
• Mounting worldwide reluctance towards plastic, due to its non-biodegradable trait, is one major challenge in this market. The continuous regulations being imposed on plastic from various governments is restraining the growth in the elastomers market.
The elastomers market is flourishing because of its various end-use industry applications. The manufacturing of medical equipment and automotive spare parts along with innovations in the elastomer technology which enables them to change color and texture is going to boost the elastomers market in the near future. On the other hand, regulations against the usage of plastics is a glaring challenge that is restricting growth. Nevertheless, despite this restraint, the global elastomer market is expected to lead to a profitable future, particularly in Asia-Pacific countries wherein regulations against plastic is lenient.
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