The performance elastomers market has witnessed significant growth in last few years, due to their superior properties, such as weathering and ozone resistance, flexibility, heat resistance, durability, huge variety, aging resistance, chemical resistance, and oil & gas resistance. The “silicon elastomer” is the highest growing type segment due to their distinct varieties and excellent properties. Therefore, rising demand for light weight vehicles is one of the major factor which is expected to drive the growth of the global performance elastomer market during the forecast period of 2022-2029.

Data Bridge Market Research analyses that the performance elastomer market was valued at USD 15.73 billion in 2021 is expected to reach USD 59.56 billion by 2029, registering a CAGR of 7.70% during the forecast period of 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

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Scope of the Performance Elastomer Market Report: 

The performance elastomer market is segmented on the basis of type and end-use industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Nitrile-Based Elastomers
• Fluoroelastomers
• Silicone Elastomers
• Others

 End-Use Industry

• Automotive & Transportation
• Healthcare, Industrial Machinery
• Building & Construction
• Electrical & Electronics
• Others

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Some of the major players operating in the performance elastomer market are:

• Arkema (France)
• Asahi Kasei Corporation (Japan)
• BASF SE (Germany)
• Dow (U.S)
• Covestro AG (Germany)
• Huntsman International LLC. (U.S.)
• Teknor Apex (U.S.)
• The Lubrizol Corporation (U.S.)
• Tosh Corporation (Japan)
• Kraton Corporation (U.S.)
• China Petroleum Corporation (China)
• Mitsubishi Chemical Company (Japan)
• DuPont (U.S.)
• SIBUR (Russia)
• Evonik (Germany)
• Dynasol Group (Spain) 

Performance Elastomer Market Regional Analysis/Insights

The Performance Elastomer market is analyzed and market size insights and trends are provided by country, material type, end user and application as referenced above.

The countries covered in the Performance Elastomer market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the high demand for fiber cement Performance Elastomer within the region. Asia-Pacific on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the prominent presence of fiber cement Performance Elastomer market players within the region. Moreover, the high requirement for the residential and commercial building construction also boosts the regional demand.