Innovation and end-use diversification drive new markets for high-performance elastomers

Innovation and end-use diversification drive new markets for high-performance elastomers

The high-performance elastomer market is set for powerful growth as product innovation and new end-use markets stimulate demand for these high-performance products according to the latest market research from Smithers.

The new market study - The Future of High-Performance Elastomers to 2024 -  shows that market expansion across the past decade will push global consumption to 1.63 million tonnes in 2019. Smithers’ in-depth market study of the global industry forecasts a further acceleration of demand. A compound annual growth rate of 6.1% across the next five years will push worldwide demand to 2.19 million tonnes in 2024.

Across this time the transportation sector will remain by far the most important user of high-performance elastomers, accounting for 48% of worldwide demand in 2019. It and electronics and electrical uses will be the major growth segments for these elastomers across 2019-2024.

High-performance grades are an attractive option for elastomer manufacturers as they command a price premium and more stable markets then commodity grades that must cope with competition for natural rubber which is falling in price.

Product and market innovation are key drivers to capitalising on these future opportunities. Among the key trends identified and analysed in this report are:

  • Improving the heat and chemical resistance of high-performance elastomers to allow their use in more demanding under-the-hood applications in automotive and engine construction.
     
  • Developing low cost high-performance elastomers with better heat resistance performance to use in multiple application in automotive construction.
     
  • Leveraging new market opportunities for elastomer components in autonomous vehicles and in the battery systems of the next generation electric vehicles.
     
  • Boosting silicone elastomers’ heat resistance to over 300°C through the wider use of speciality polysiloxane additives.
     
  • Potential new markets in cabling are waiting if high-performance elastomers can be engineered with better water resistance.
     
  • Development of dielectric elastomers for use in green energy generation and superior human prostheses.
     
  • Improving heat conductivity of certain grades for use in electronics applications.
     
  • Developing new market in applications that require strong chemical resistance with fluorinated copolymer elastomers.
     
  • Innovating to produce high-heat-resistant silicone elastomers with a higher-refractive-index for use in LED lighting systems.
     
  • Formulating high-performance elastomer grades with the requisite performance and durability characteristics to function in additive manufacturing (3D printing).
     
  • Improving tear resistance of silicone elastomer grades by the use of higher loadings of reinforcements.
     
  • Formulating elastomer grades that maintain performance at low-temperatures for use in oil and gas exploration.

The market proposition for each of these technologies is examined in the new Smithers report The Future of High-Performance Elastomers to 2024. The global market is further quantified and analysed for eight key high-performance elastomer grades across six leading end-use applications and nineteen regional and leading national markets.This definitive business strategy tool is available for purchase now.

 

Notes for Editors            

The Future of High-Performance Elastomers to 2024 is available to purchase. For more information download the report brochure. 

For press enquiries or a more detailed article, please contact:

For Americas:     For Europe/Asia:
Marissa Barnhart    Julie Bostock
Tel: +1 330 762 7441 ext.1121    Tel: +44 (0) 1372 802 035
 mbarnhart@smithers.com  jbostock@smithers.com

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