High-Temperature Elastomers Market, Size, Share, Growth Drivers, Market Opportunities, Market Trends

The high-temperature elastomers that comprise properties such as chemical, corrosion and thermal resistance among others are known as thermosetting elastomers. These thermosetting elastomers are extensively being used in many industries such as electronics, transportation, building & construction, oil& gas and electrical.  

The global high-temperature elastomers market is expected to generate revenue of USD 16.8 billion by 2024 and is further anticipated to witness CAGR of 7.2% during the forecast period. Elastomers posses elastic and viscosity properties and are considered to be a bundle of polymers.

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The rapid increase of the automotive industry along with extensive utilization of high-temperature elastomers is majorly driving the growth of global high-temperature elastomers market. The automotive industry in developing economies such as Latin America and Asia-Pacific are observing significant growth due to rapid growth in high-temperature elastomers market. These elastomers serve various beneficial properties such as flexibility, durability, and resistance to automotive lubricants and excessive heat.

Asia-Pacific is expected to witness the fastest growth in the global high-temperature elastomers market due to rampant economic development and fuelling growth in the construction industry.

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Some of the major players operating in the global high-temperature elastomers market include KCC Corporation, Dow Corning Corporation, Momentive Performance Materials Inc., Wacker Chemie AG, Solvay S.A., Daikin Industries, Ltd., 3M Company, RTP Company, The Chemours Company, and Shin-Etsu Chemical Co., Ltd.

Source: VynZ Research