Increasing use of elastomers in production of tires along with growing manufacturing of motor vehicle are anticipated to promote the growth of global automotive elastomers market and help to attain a revenue of USD 70 Billion by 2033.

New York – October 10, 2022 – The recent market research analysis of “Automotive Elastomers Market: Global Demand Analysis & Opportunity Outlook 2033” by Research Nester delivers an in-depth competitors analysis and a detailed overview of the global automotive elastomers market in terms of market segmentation by type, application and by region over the forecast period, i.e., 2023-2033.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the global automotive elastomers market. These analyses help organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future. Additionally, the growth opportunities exposed by the market is poised to gain significant momentum in the next few years.

Automotive elastomers market to find numerous growth opportunities on the back of popularity of lightweight materials for manufacturing of vehicles, finds Research Nester

The global automotive elastomers market is estimated to grow majorly on account of the rising production of mototr vehicles worldwide. For instance, inventories of motor vehicles worldwide increased by 583,74,162 vehicles between 2000 and 2019, according to the International Organization of Motor Vehicle Manufacturers (OICA). Moreover, the growing demand for fuel-efficient vehicles, the increasing trend of electrification of vehicles, along with a rising standard of living, is projected to drive the growth of automotive elastomer market over the forecast period.

The global automotive elastomers market is segmented on the basis of application into the tire, exterior application, interior application, under the hood, weather seal application, and others. The tire segment is to garner the highest revenue by the end of 2033 by growing at a significant CAGR over the forecast period owing to the rapid development of high-end vehicles and the growth of tire production worldwide. The number of tires produced in India in 2021 was estimated to be 168 million. Tires are manufactured using elastomers to improve their performance. The chemical system in tire rubber consists of several intermediates that contribute to its durability, flexibility, and reliability as a sealant.

By region, the Asia Pacific automotive elastomers market is to generate the highest revenue by the end of 2033. This growth is anticipated by the increasing demand for auto components in the region. The automobile component industry reported an increase in revenue of 22% in March 2022. Exports of auto components rose by 42% to USD 18 billion. Furthermore, number of factors are expected to drive the regional market, including the rapid growth of the automotive industry, the largest number of vehicles produced in emerging economies, such as India and China, and the affordable cost of raw materials and labor.

The research is global in nature and covers detailed analysis on the automotive elastomers market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising of global automotive elastomers market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

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, 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.

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 in order to avoid future uncertainties.

Contact for more Info:

AJ Daniel

Email: [email protected]

U.S. Phone: +1 646 586 9123

U.K. Phone: +44 203 608 5919