A12624 | Pages: NA | Sep 2022 | 930 Views | ||
Author(s) : Eswara Prasad | Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Automotive Elastomers Market
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Automotive elastomers are characterized by the cross-linked structure formed by chemical binding of polymers. They can be used to manufacture a number of automobile parts such as front-end body panels, belts, hoses, seating, dashboards, airbags, door panels, hoses & seals, brakes & suspensions, instrument & soft touch panels and others. These automotive elastomers exhibit properties superior to that of the traditional rubber drives due to their better heat resistance, flexibility, durability, aging resistance, oil, gas & chemical resistance, and weathering & ozone resistance. Thus, the market for these elastomers has grown considerably and is expected to grow at a steady pace. The automotive elastomers offer the opportunity to design and manufacture light-weighted, compact and more efficient vehicles, which is favorable to the automotive industry and this has led to growth of this market.
Market Scope and Structure Analysis
As the name suggests, the automobile industry is the major consumer of automotive elastomers. Due to rise in the income of the populace and betterment in standard of living coupled with advancements in the automobile industry, the demand for vehicles has been growing around the world. The demand of automobiles drives the demand for automotive elastomers used predominantly in the modern vehicles to make them lighter and more efficient.
Report Metric | Details |
 Market Size Available for Years |  2020–2030 |
 Base Year Considered |  2020 |
 Forecast Period |  2021–2030 |
 Forecast Unit |  Value (USD) |
 Segments Covered |  Type, Application and Region |
 Regions Covered | North America, Europe, Asia-Pacific, LAMEA |
 Companies Covered | 3M Company, ARLANXEO, BASF SE, Exxon Mobil Corporation, JSR Corporation, Kraiburg TEP GmbH & Co. Kg, Mitsui Chemicals, Inc., Kuraray Co., Ltd., LG Chem Ltd., Saudi Basic Industries Corporation (SABIC), Solvay, Sumitomo Chemical Co., Ltd., Teknor Apex Company, Inc., The Dow Chemical Company, and Versalis S.p.A. |
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COVID-19 Impact analysis
The automobile industry witnessed a drop in sales and revenue due to the lockdown imposed around the world due to the COVID-19 pandemic. Thus, the decline in sales of vehicles caused a decline in the production volume, which further led to the significant drop in demand of automotive elastomers. The decline in automobile sales was due to the travel restrictions as well as the shutdown of market which prohibited the customers to purchase vehicles. The supply chain was also disturbed throughout the pandemic period due to trade restrictions imposed by the governments, which hampered the movement of goods and capital to and from the automotive elastomers consumers and producers respectively.
Top Impacting Factors
Market Trends
Key Segments Covered
Type
On the Basis of Application:
Region
Key Benefits of the Report
Questions answered in the Automotive Elastomers Report
Key Market Segments & Key Market Players
Segments | Sub-segments |
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By Type |
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By Application |
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By Region |
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Key Market Players | 3M Company, ARLANXEO, BASF SE, Exxon Mobil Corporation, JSR Corporation, Kraiburg TEP GmbH & Co. Kg, Mitsui Chemicals, Inc, Kuraray Co., Ltd., LG Chem Ltd., Saudi Basic Industries Corporation (SABIC) |
Solvay, Sumitomo Chemical Co., Ltd., Teknor Apex Company, Inc., The Dow Chemical Company, Versalis S.p.A. |
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