NEW YORK, September 29, 2016 /PRNewswire/ --
According to market research "Global High Temperature Elastomers Market Size, Share, Development, Growth and Demand Forecast to 2022 - Industry Insights by Type (Fluorocarbon Elastomer, Perfluorocarbon Elastomer, Silicone Elastomer, Fluorosilicone Elastomers, Others), by Application (Automobile & Transportation, Electrical & Electronics, Healthcare, Consumer Products, Industrial Machinery, Others)" by P&S Market Research, the global high temperature elastomers market was valued at $6.2 billion in 2015, and it is expected to grow at a CAGR of 7.6% during 2016 - 2022.
The major factors driving the growth of the market include growing demand and usage in automotive and transportation industry, increasing uses of high temperature elastomers in wide range of application and different end-user industry. In automobile & transportation sectors, these elastomers are predominately used for the manufacturing process of specialty rubber, tyres, seat covers, and other materials. The companies in the high temperature elastomers market are investing in the development of new and innovative products, in order to expand the applicability areas and target new industries, which is expected to create significant growth opportunities for the global market. Asia-Pacific was the fastest growing region in the global high temperature elastomers market in 2015. The growth in the region is attributed to the growing economies and increasing demand from automotive, electrical & electronics and other industries.
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Based on type, the global high temperature elastomers market has been segmented into Fluorocarbon Elastomer, Perfluorocarbon Elastomer, Silicone Elastomer, Fluorosilicone Elastomers and Others. The silicone elastomers segment held the largest share in the global high temperature elastomers market in 2015. The major factors driving the growth of the silicone elastomers segment is its increasing application in electronics market owing to superior properties.
In 2015, North America held the second largest share in the global high temperature elastomers market with 30% share, in terms of volume consumption. The growing application of high temperature elastomers in automotive and consumer goods industry are promoting the growth of the high temperature elastomers market in the region. The growing technological advancements, along with increasing need for advanced material in developing regions such as Asia-Pacific and Latin America are projected to boost the demand of high temperature elastomers products.
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Some of the major competitors in the global high temperature elastomers market include The Dow Chemical Company, E.I. du Pont de Nemours and Company, Solvay S.A., Momentive Performance Materials Inc., Wacker Chemie A.G., 3M, Daikin Industries, Bluestar Silicones, RTP Company, Shin-Etsu Chemical Co. Ltd., among others.
GLOBAL HIGH TEMPERATURE MARKET SEGMENTATION
- Fluorocarbon Elastomer
- Perfluorocarbon Elastomer
- Silicone Elastomer
- Fluorosilicone Elastomers
- Automobile & Transportation
- Electrical & Electronics
- Consumer Products
- Industrial Machinery
• North America
- Rest of North America
- Rest Of Europe
- Rest of Asia-Pacific
• Rest of the World
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SOURCE P&S Market Research