Increasing Construction Activities Fueling High Temperature Elastomer Sales

The surging usage of high temperature elastomers in the automotive industry is propelling their sales around the world. Moreover, with the boom in the automotive industry, especially in the Latin American and Asia-Pacific countries, the demand for these elastomers is rising sharply. These elastomers are extensively used in gaskets, boots, seals, dampers, and hoses, on account of their various beneficial characteristics such as resistance to automotive lubricants and heat, flexibility, and durability. 

Besides, these elastomers are also heavily used in the oil and gas, healthcare, electrical, transport, and aerospace industries. For example, they are used for producing seat covers, tyres, and specialty rubber in the transport industry. On the other hand, in the consumer goods, electronics, and healthcare industries, they are used as additives, on account of their beneficial traits. Additionally, these elastomers also have several applications in the construction industry. Furthermore, many manufacturing companies are launching campaign programs and advertisements for promoting the use of high temperature elastomers, thereby fueling the expansion of the high temperature elastomers market.

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The use of high temperature elastomers is growing rapidly in the aerospace, automotive, and transportation industries, on account of the fact that these elastomers can withstand extreme temperatures and have good solvent and chemical resistance. Moreover, these elastomers are being increasingly used for manufacturing under-the-hood components and various automotive machinery parts. Geographically, the sales of these elastomers are predicted to rise at the highest rate in the Asia-Pacific (APAC) region in the forthcoming years. 

This is ascribed to the existence of several end use industries and many electrical and electronics manufacturing firms, increasing construction activities, and rapid economic progress of the regional countries. In addition to this, the expanding industrial base in India and China, due to their economic growth, is also driving the demand for these elastomers in the region. KCC Corporation, Dow Corning Corporation, Wacker Chemie AG, Solvay S.A., 3M Company, and Momentive Performance Materials Inc., are some of the major high temperature elastomer producing companies across the world. 

Hence, the expansion of the automotive industry and surging construction activities will drive the sales of high temperature elastomers all over the world in the upcoming years.

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High Temperature Elastomers Market Analysis and In-Depth Analysis on Market Dynamics, Emerging Trends, Growth Factors and Sales Forecast

Better properties of high-temperature elastomers compared to other types, coupled with their growing use in automotive and other industries, are driving the growth of the high temperature elastomers market. Globally, the domain accounted for a revenue of $9,991.7 million in 2017 and is predicted to grow to $14,951.4 million by 2023, advancing at a CAGR of 7.0% during the analysis period (2018–2023). Elastomers are made up of long chains of atoms, possessing elastic properties. These have important uses in the rubber, automotive, and chemical industries. 

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On the basis of type, the high temperature elastomers market is classified into perfluorocarbon, fluorocarbon, silicone, fluorosilicone, and others. Among these, in 2017, silicone was the largest category with a revenue contribution of more than 65.0% in the market. Due to its possession of elastic properties which are unaffected by extreme conditions, the requirement for silicone elastomers from the automotive and construction industries increased. In the construction industry, these are used as a structural glazing material and sealant, while the automotive industry uses elastomers for vibration dampers and cure -place gaskets. 

On a global ground, Asia-Pacific (APAC) is expected to be the fastest-growing market, registering a revenue CAGR of 7.4% during the analysis period. The growth of the high temperature elastomers market in APAC is backed by the presence of several end-use industries, rise in construction activities, and rapid economic growth. Moreover, China and India are predicted to drive the market, owing to the expanding industrial base in these countries. 

Based on the application, automobile and transportation, industrial machinery, healthcare, consumer products, and others are the categories of the high temperature elastomers market. In 2017, automobile and transportation held the largest sales volume share of more than 40.0% in the market. Automotive, transportation, and aerospace industries are increasingly using these elastomers, as these can survive extreme temperatures and have fine solvent and chemical resistance.

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High-temperature elastomers offer better heat-resistance of up to 200°C, enhanced seal integrity, high temperature stability, improved mechanical properties, extremely high performance, good chemical resistance, and excellent thermal resistance, compared to normal elastomers. These are used in many industries, such as transport, oil and gas, electrical, healthcare, and consumer goods, either independently or as an additive. For instance, in the transport sector, it is mainly used in the manufacturing of tires, specialty rubber, and seat covers. Thus, owing to the increasing demand for elastomers, which can withstand high temperatures, from these industries, the high temperature elastomers market is predicting to grow in the near future. 

Further, due to rapid urbanization and industrialization in developing countries, such as China and India, the high temperature elastomers market is expected to progress. These countries are expected to create various opportunities for the market players due to the growing industrial base. The growing construction activities and expanding automotive industry in these countries are escalating the demand for high-temperature elastomers, thereby resulting in growth opportunities for the market players in the present as well as future times. 

Hence, owing to the various applications of elastomers in different industries, the high temperature elastomers market is projected to flourish in the near future.

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