The high temperature elastomers that comprises of properties such as chemical, corrosion and thermal resistance among others are known as thermosetting elastomers. These thermosetting elastomers are extensively being used in many industries such as electronics, transportation, building & construction, oil& gas and electrical.
The global high temperature
elastomers market is expected to generate revenue of USD 16.8 billion by 2024
and is further anticipated to witness CAGR of 7.2% during the forecast period.
Elastomers posses elastic and viscosity properties and are considered to be a
bundle of polymers.
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Moreover, increasing urbanization and
industrialization in emerging economies is expected to further bolster the
growth of global high temperature elastomers market. The rampant demand
from transportation mainly pertaining to aircrafts and automobile industry is
further anticipated to contribute effectively towards the growth of global high
temperature elastomers market.
The automobile industry are
constantly utilizing high
temperature elastomers in their business operations as it helps
the manufacturers in producing other machinery parts of this domain along with
under the hood modules.
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Moreover, increasing investment avenues in
technological advancements along with utilization of these elastomers in oil
& gas and other industries in several countries such as Saudi Arabia,
Morocco, UAE, Dubai and in Middle East and Africa have further bolstered the
growth of global high temperature elastomers market. Additionally, rampant
growth of these elastomers in the consumer goods, healthcare, automobile and
manufacturing domain in South American countries are pertaining towards the
growth of this market.
Some of the major players operating in the
global high temperature elastomers market include KCC Corporation, Dow Corning
Corporation, Momentive Performance Materials Inc., Wacker Chemie AG, Solvay
S.A., Daikin Industries, Ltd., 3M Company, RTP Company, The Chemours Company,
and Shin-Etsu Chemical Co., Ltd.
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