Market Size of Elastomers Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Elastomers Market Analysis
The Global Elastomers Market is projected to register a CAGR of more than 5% during the forecast period. The market was negatively impacted by COVID-19 in 2020. However, the market has now been estimated to have reached pre-pandemic levels and is expected to grow steadily in the future.
- The market is expected to grow because the automotive industry needs more elastomers and the construction industry needs more elastomers to make things like adhesives, tubes, coatings, and other materials.
- Biocompatibility worries about how elastomers are used in medicine are likely to slow the market's growth.
- Opportunities are likely to come from putting more effort into making bio-based products and using them more in making medical instruments.
- Asia-Pacific was the biggest market in the world, with countries like India, China, and others using the most.
