Research Nester published a report titled “High Temperature Elastomers Market: Global Demand Analysis & Opportunity Outlook 2028”which delivers detailed overview of the global high temperature elastomers market in terms of market segmentation by type and application.
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 market.
High temperature elastomers are those materials which are made up of long chain atoms and having elastic property. These materials have various applications in industries such as automotive industry, medical industry, Industrial Machinery, Aerospace & Defense and Electrical & Electronics. Their usage is increasing in various industries, which will play significant role in future to drive the overall market. The global market accounted for USD 8760.5 Million in 2019 and is estimated to grow at a CAGR of 6.84% during the forecast period, i.e., 2021-2028.
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The global high temperature elastomer marketis segmented by type into silicone, fluorocarbon, perfluorocarbon, fluorosilicone, and others. Among these segments, the perfluorocarbon segment in the global high temperature elastomers market is estimated to grow with the highest CAGR of around 6.19% and is estimated to be the leading revenue generating segment during the forecast period. Geographically, the global high temperature elastomers market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, out of which, the market in Asia Pacific held the leading market value of around USD 3946.6 Millionin 2019 and is further estimated to hold this position throughout the forecast period. The growth in this region can be attributed to has a significantly large industry for automobile parts, pharmaceuticals, and aerospace, and the industry uses high-temperature elastomers as their raw material.
Growing Requirement of Elastomers for High Temperature Applications
The growing requirement of the elastomers for high temperature applications where chemical stability of the compound is maintained at elevated temperatures has led to the development of such high temperature elastomers, including silicones, fluorocarbon, perfluorocarbon, and others. These are some of the additional indicators that are estimated to contribute to the growth of the market.
However, the high costs of manufacturing is anticipated to operate as key restraint to the growth of global high temperature elastomers market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global high temperature elastomers market which includes company profiling of Wacker Chemie AG (ETR: WCH), Dow Silicone Corporation, Momentive Performance Materials Inc.,3M (NYSE: MMM), Shin-Etsu Chemical Co., Ltd., Daikin Industries Ltd. (TYO: 6367),DuPont de Nemours Inc. (NYSE: DD),Solvay S.A. (EBR: SOLB), KCC Corporation(KRX: 002380),and Stockwell Elastomerics Inc. 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 high temperature 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.
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