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:
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|