Global high Temperature Elastomers market worth $1,062.3 million in 2015
As per the research, the global high temperature elastomers market is likely to grow from $1,062.3 million in 2015 to $1,725.4 million by 2022. The rapidly growing automotive industry especially in emerging economies of Asia-Pacific, Africa and Latin America is generating significant demand for high temperature elastomers. High temperature elastomers are used across various industries including automobile, transportation, oil and gas, aerospace, electrical and electronics and healthcare. In the transportation industry, the high temperature elastomers are used for the manufacturing process of specialty rubber, tires and seat covers.
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Insights on market segments
As per the findings of research, the global high temperature elastomers market has been segmented into Fluorocarbon Elastomer, Perfluorocarbon Elastomer, Silicone Elastomer, Fluorosilicone Elastomers and Others. The silicone elastomers segment held the largest share in the global high temperature elastomers market in 2015. The major factor driving the growth of the silicone elastomers segment is its increasing application in electronics market owing to superior properties.
North America stand as the largest high temperature elastomers market
In 2015, North American region dominated the global high temperature elastomers market, in terms of volume. The growing application of high temperature elastomers in automotive and consumer goods industry are promoting the growth of the high temperature elastomers market in the region.
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Growing need in automotive and transportation industry bolsters market growth
The major factors driving the growth of the market include growing demand and usage in automotive and transportation industry, increasing uses of high temperature elastomers in wide range of application and different end-user industry. In automobile and transportation sectors, these elastomers are predominately used for the manufacturing process of specialty rubber, tires, seat covers, and other materials.
Top three players account for major market share
The research states that the global high temperature elastomers market had a consolidated structure in 2015, where the top three competitors accounted for a major share of the market. Some of the key players in the global market include The Dow Chemical Company, E.I. du Pont de Nemours and Company, Solvay S.A., Momentive Performance Materials Inc., Wacker Chemie A.G., 3M, Daikin Industries, Bluestar Silicones, RTP Company and Shin-Etsu Chemical Co. Ltd.
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