Performance Elastomers Market Size & Share 2017 - 2024
Market Size by Product (Silicone-based [High Consistency Rubber (HCR), Fluoro-Silicone Rubber (FSR)], Thermoplastic-based [Thermoplastic Copolyester Elastomers (TPE-Co), Thermoplastic Vulcanizate (TPE-V), Thermoplastic Polyamide Elastomers (TPE-PA)], Nitrile-based [Nitrile Butadiene Rubber (NBR), Hydrogenated Nitrile Rubber (HNBR)], Fluoroelastomers, Acrylate, Chlorinated), by End User (Automotive & Transportation, Building & Construction, Industrial Machinery, Electrical & Electronics, Food & Beverage, Consumer Goods), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, & Forecast.
Report ID: GMI2264
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Published Date: January 2018
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Report Format: PDF
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Authors:
Kiran Pulidindi, Akshay Prakash
Performance Elastomers Market Size
Performance Elastomers Market size was recorded at around USD 8 billion in 2016 and will witness growth at over 7.5% CAGR from 2017 to 2024.
Incessant efforts by the automobile and aerospace component manufacturers to reduce their vehicle weight while improving its operational characteristics will augment the global performance elastomers market in the coming years. These manufacturers face regular challenges of finding materials that can cope with extreme temperatures from sub-zero to engine block heat, exposure to hydrocarbons such as fuel, lubricants, and coolant, as well as various chemical reactions involving ozone, nitrous oxides, sulfides, and various other salts. Rising automobile sales around the globe, especially in the developing nations of Asia Pacific such as China, India, South Korea, and the Southeast Asian countries, will positively influence the overall performance elastomers market. Both China and the U.S. witnessed a shift towards high performance and relatively expensive sport-utility vehicles and crossovers from normal passenger cars in the past year and this trend will continue in the coming years as the per capita income of the population increases.
The performance elastomers market includes various specialty products such as hoses, seals, gaskets, timing belts, diaphragms, etc. and is extensively where a very high durability with minimal degradation over long time periods is required. Continuous development in the industrial sector around the globe in order to increase the efficiency of different machines such as power generators, motors, oilfield exploration machineries, mining equipment, etc. will have a significant influence on the industry growth throughout the forecast span. According to the world bank, value addition from manufacturing sector increased from USD 1.92 trillion in 2010 to USD 3.25 trillion in 2015 in China, paving ways for numerous industrial innovations in the region.
One of the major restraining factors for the global performance elastomers market growth is the high cost associated with the product manufacturing. Processing of these products to provide the required toughness and heat and chemical resistance tends to increase the cost of these specialty products over the standard commodity elastomers. Specific and critical application areas of these products make their use obligatory, thus increasing the product cost. This factor will have a negative influence on the performance elastomers market in the coming years.
Performance Elastomers Market Analysis
Silicone based products dominated the overall performance elastomers market with over a third of the market share in 2016. Among the different silicone products, the most popular product type was high consistency silicone rubber accounting for over USD 1.5 billion in 2016. Temperature resistance of the product lies close to that of the fluorine based products, including fluoro-silicone and fluorocarbon rubber, and it is available at relatively low price, making it a product of choice among various end-users.
Performance thermoplastic elastomers accounted for over a quarter of the global market size and will witness a steady growth throughout the forecast span. This product segment has been further categorized into thermoplastic copolyester (TPE-Co), thermoplastic polyamide (TPE-PA), thermoplastic vulcanizate (TPE-V), and others including aliphatic thermoplastic polyurethane (A-TPE-U), thermoplastic acrylates (TPE-Ac), etc.
Fluoroelastomers will be the fastest growing product segment of the global performance elastomers market due to its extremely high thermal and chemical resistance. High product price will characterize the segment as its application in majorly concentrated in the automotive and transportation sector.
Automotive & transportation sector is the most dominant end-user industry for the global performance elastomers market accounting for more than half of the overall share. The product can easily withstand high temperatures inside the engine cylinders and can replace metal parts to assist in the overall vehicular weight reduction. These specialty products are used to make various critical OEM as well as replacement parts for automobiles as well as airplanes.
Industrial machinery sector accounted for over USD 800 million for the performance elastomers industry in 2016. These products find use in the manufacturing of various equipment and machineries where harsh ambient conditions are prevalent, such as in oil rigs, metalworking and foundry industries, smelting applications, etc.
Asia Pacific, driven by the vast manufacturing base in the emerging economies of the region, will hold sway the global performance elastomers market throughout the forecast span. The regional market was worth more than USD 4 billion in 2016 and will have the fastest growth rate in the next seven years. Product demand from various end-user segments in the region will witness immense growth in the near future as local consumer purchase parity increases with the evolving middle class population.
North America and Europe had a combined market share of around 40% of the global performance elastomers market in 2016. These regions will witness slow to moderate growth trends and lose their shares to the developing regions such as Asia Pacific and Latin America. This can be accounted to the shift of the manufacturing units towards these regions, driven by low cost labor and lenient government norms.
Performance Elastomers Market Share
Global performance elastomers market competitive landscape is characterized by the presence of several corporate giants such as
There are several other important market players involved in the development and marketing of these specialty products.
These companies focus on continuous R&D works to develop new product chemistries and meet specific customer demands, thus enhancing their portfolio and maintaining their position in the performance elastomers industry. They also participate in different merger and acquisition activities in order to expand their production capacities as well as global reach.
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
At GMI, our research methodology is built on a foundation of human expertise, rigorous validation, and complete transparency. Every insight, trend analysis, and forecast in our reports is developed by experienced analysts who understand the nuances of your market.
Our approach integrates extensive primary research through direct engagement with industry participants and experts, complemented by comprehensive secondary research from verified global sources. We apply quantified impact analysis to deliver dependable forecasts, while maintaining complete traceability from original data sources to final insights.
2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
Every forecast includes explicit documentation of:
✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
6. Validation & quality assurance
The final stages involve human validation, where domain experts manually review filtered data to identify nuances and contextual errors that automated systems might miss. This expert review adds a critical layer of quality assurance, ensuring data aligns with research objectives and domain-specific standards.
Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
✓ Market Reality Check
Trust & credibility
Verified data sources
Trade publications
Security & defense sector journals and trade press
Industry databases
Proprietary and third-party market databases
Regulatory filings
Government procurement records and policy documents
Academic research
University studies and specialist institution reports
Company reports
Annual reports, investor presentations, and filings
Expert interviews
C-suite, procurement leads, and technical specialists
GMI archive
13,000+ published studies across 30+ industry verticals
Trade data
Import/export volumes, HS codes, and customs records
Parameters studied & evaluated
Every data point in this report is validated through primary interviews, true bottom-up modelling, and rigorous cross-checks. Read about our research process →