Global performance elastomer market forecast at $31.6 billion by 2031

Pune, India – The global performance elastomer market was valued at $15.8 billion in 2021 and is projected to reach $31.6 billion by 2031, growing at a
CAGR of 7.2% from 2022 to 2031 according to Allied Market Research.

Fluoroelastomers have been identified as a matter of concern regarding issues related to environmental sustainability. Due to
the presence of the fluorine atom inside their molecular structure, fluoroelastomers are substances that cannot be broken down by
natural processes.

Performance elastomers are polymers composed of long chains of atoms, primarily hydrogen, oxygen, and carbon, and consisting of
repeating units of a single monomer or numerous monomers. In comparison to other materials, elastomer has increased pressure, poor
intermolecular strength, and a low modulus of elasticity. They are potentially the most adaptable material due to their ability to revert to
their original shape when the forces producing deformation are eliminated. Engineering materials performance elastomers are
remarkably flexible. For example, the manner in which they deform and recover under load differs greatly from that of plastics and
metals. They are complicated materials with unique combinations of useful qualities, resilience, and elasticity being the most important.
All elastomers can be significantly deformed by compression, torsion, or stretching and then return to their original shape upon removal
of the deforming force. The resilience of performance elastomers allows them to swiftly return to their original shape, allowing, for
instance, dynamic seals to adapt to alterations in the sealing surface.
Performance elastomer is extensively utilized in the production of vehicle components. The increasing production of cars in both
developing and developed countries is recognized as a major contributor to the expansion of the global market for performance
elastomers. According to the International Organization of Motor Automobiles, the total number of vehicles produced globally in 2020
was 77.0 million units, and this number increased to 80.0 million units in 2021. Consequently, the increasing number of automobiles on
the road is driving the need for performance elastomer, which is expected to raise the market growth during the forecast period.
There is a rising awareness of the numerous advantages of performance elastomers, including their resistance to aging; their resilience to
heat, weathering & ozone, oil & gas, and chemicals; and their durability & flexibility. It is expected that the superior qualities of
performance elastomers over ordinary elastomers will increase demand for performance elastomers and drive the market growth rate. In
addition, the increasing application in the transportation and automotive industries, the growing demand for performance elastomers
with superior and excellent properties, and the rising disposable income and purchasing power of consumers are some of the factors
that are expected to drive the growth of the performance elastomer market during the forecast period.
Fluoroelastomers possess high resistance to moisture, heat, and common chemicals which are considered to be beneficial for the
industrial performance of these materials. On the other hand, the same qualities render them incapable of biodegradation, which in turn
causes harm to the environment. As a result, they are likely to be regarded as a risk to both people and animals, in addition to the
environment as a whole. This can restrain the market growth of the performance elastomers market.
Copper metal and hydrogen fluoride are costly components that are required in the production of silicone. Performance elastomers, such
as silicone elastomers, are more expensive due to the high energy expenditures connected with their production process, which involves
the transformation of sand into high-purity silica and subsequently the polymerization of this silica. Due to variations in raw material,
compounding, filing, and processing costs, elastomer prices may also fluctuate substantially. High production costs may function as a
hurdle to market expansion
Fluoroelastomer usage and development are anticipated to be driven by application sectors needing materials with exceptional
resistance to heat and chemicals during the forecast period. Existing fluoroelastomers with enhanced performance are anticipated to be
the field’s emerging potential. Numerous businesses have begun to produce fluoroelastomers of pharmaceutical and food-grade quality,
which are authorized by their respective governing bodies. In 2019, AGC Chemical obtained Food Contact Notifications from the US FDA
(Food and Drug Association) for three of its fluoroelastomer products: AFLAS Series 100S, 100H, and 150P. This factor provides an
opportunity for the performance elastomers market.
Rising awareness regarding the use of performance elastomer and tight government rules and regulations related to the use of rubber
would enhance the demand for performance elastomer in numerous end-user industries, hence offering enormous opportunities for
manufacturers in the performance elastomer market during the forecast period. In addition, the widespread use of elastomers in the
automotive industry, as well as ongoing R&D activities and technological advancements in the field of performance elastomers, will
provide lucrative growth opportunities for the performance elastomer market.
The global performance elastomers market is segmented into type, end-use industry, and region. Depending on the type, the market is
divided into nitrile-based elastomers [nitrile butadiene rubber (NBR) and hydrogenated nitrile-based rubber (HNBR)], silicone elastomers
(high temperature vulcanized, liquid silicone rubber, and room temperature vulcanized), fluoroelastomers (fluorocarbon elastomers,
perfluoroelastomers, and fluorosilicone elastomers), and others. On the basis of end-use industry, it is categorized into automotive &
transportation, healthcare, industrial machinery, building & construction, electrical & electronics, and others. Region-wise, the market is
studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global performance elastomers market are 3M Company, BASF SE, Daikin Industries Ltd., Dow, DuPont
de Nemours, Inc., Exxon Mobil Corporation, Mitsui Chemicals Inc., Solvay S.A., Wacker Chemie AG, and Zeon Chemicals L.P. Other players
operating in the market are Arlanxeo, Momentive, Tosoh Corporation, Avient Corporation, and Denka Performance Elastomer.