Elastomers Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Thermoset (Natural Rubber, Synthetic Rubber (SBR, IIR, PBR, NBR, ACM, EPM)), and Thermoplastic (PEBA, SBC, TPO, TPU, TPV)), By Application (Automotive, Consumer Goods, Medical, and Industrial), By Region 2021-2031F

Forecast Period	2027-2031
Market Size (2025)	USD 105.09 Billion
CAGR (2026-2031)	5.27%
Fastest Growing Segment	Automotive
Largest Market	North America
Market Size (2031)	USD 143.02 Billion

Market Overview

The Global Elastomers Market will grow from USD 105.09 Billion in 2025 to USD 143.02 Billion by 2031 at a 5.27% CAGR. Elastomers are viscoelastic polymers characterized by their ability to regain their original shape after deformation, encompassing both natural and synthetic variations used extensively in industrial applications. The growth of this market is fundamentally supported by the expanding automotive sector, which necessitates high volumes of these materials for tires, seals, and hoses, alongside increasing requirements from the construction and medical industries for durable and flexible components. According to the 'International Rubber Study Group', in '2025', global rubber consumption reached 15.8 million tonnes in the first half of the year, marking a 1.9% increase compared to the same period in 2024.

However, a significant challenge impeding broader market expansion is the volatility of raw material prices and the complexity of ensuring supply chain sustainability. Manufacturers are increasingly burdened by stringent environmental compliance mandates, such as deforestation regulations, which disrupt established trade flows and elevate production costs. This regulatory pressure, coupled with fluctuations in crude oil prices that directly impact synthetic rubber inputs, creates a precarious environment that complicates long-term planning and investment for market participants.

Key Market Drivers

Rapid expansion of the electric vehicle market and advancements in battery technology are fundamentally reshaping the demand for specialized elastomers. Unlike internal combustion engines, electric vehicles require high-performance materials capable of providing thermal management, electrical insulation, and noise reduction. Manufacturers are prioritizing lightweight elastomers to offset heavy battery packs, driving innovation in silicone and EPDM rubbers used in battery seals and cooling system hoses. This technological pivot ensures that material suppliers must adapt to stricter performance specifications associated with high-voltage environments. According to the International Energy Agency, April 2024, in the 'Global EV Outlook 2024', global electric car sales reached nearly 14 million in 2023, creating a sustained surge in demand for these specialized automotive components.

Global shifts toward bio-based and sustainable elastomer solutions are accelerating as companies adapt to regulatory mandates and circular economy principles. Industry players are investing heavily in deriving natural rubber from alternative sources like guayule, alongside developing synthetic rubbers from bio-feedstocks to reduce carbon footprints. Major producers are integrating higher percentages of renewable content to mitigate raw material volatility and meet environmental compliance standards. According to Continental AG, March 2024, in the 'Annual Report 2023', the company successfully launched volume production of tires containing up to 65% renewable and recycled materials. Furthermore, according to the Association of Natural Rubber Producing Countries, in 2024, global natural rubber output was projected to rise by 1.1%, reflecting the continued expansion of organic supply chains.

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Key Market Challenges

The volatility of raw material prices and the increasing complexity of ensuring supply chain sustainability are severely restricting the expansion of the Global Elastomers Market. Manufacturers are contending with rigorous environmental compliance mandates, specifically deforestation regulations, which disrupt established procurement channels and elevate production costs. This regulatory burden creates significant uncertainty, forcing companies to divert resources toward compliance verification rather than capacity expansion. Consequently, these supply chain disruptions limit the availability of essential inputs, creating a volatile market environment that complicates strategic planning and deters investment.

The impact of these challenges is evident in the contracting output of key raw material hubs. According to the 'Association of Natural Rubber Producing Countries', in '2025', natural rubber production in Indonesia is projected to decline by nearly 10% as cultivators reduce tapped areas in favor of other crops. This substantial reduction in supply from a major producing nation directly hampers the elastomers market by constraining raw material availability and exacerbating the precarious balance between supply and demand.

Key Market Trends

The emergence of conductive elastomers is revolutionizing the wearable electronics sector, enabling the development of "skin-like" devices that maintain performance under mechanical strain. Unlike traditional rigid components, these advanced materials combine the flexibility of rubber with electrical conductivity, allowing for the creation of stretchable sensors and energy-harvesting units that conform seamlessly to the human body. This capability is critical for next-generation health monitors and smart clothing that require continuous data tracking without compromising user comfort. According to Rubber Journal Asia, September 2025, in the article 'Chinese scientists innovate thermoelectric rubber to power smart/medical devices', researchers successfully developed a new stretchable thermoelectric elastomer capable of converting body heat into electricity, maintaining functionality even when stretched to 150% of its original length.

Simultaneously, the market is witnessing a robust shift toward the utilization of thermoplastic elastomers (TPEs) as superior replacements for traditional thermoset rubbers and PVC, particularly in the medical and automotive industries. This transition is driven by the need for materials that offer comparable elasticity while providing the processing efficiency and recyclability of thermoplastics, which thermosets lack. Manufacturers are aggressively expanding their portfolios to meet stringent regulatory standards for biocompatibility and sustainability. For instance, according to Plastics Engineering, March 2025, in the article 'The Rapid Growth of the Medical Elastomer Market', Teknor Apex expanded its portfolio of medical-grade thermoplastic elastomers with new grades specifically designed for biopharmaceutical tubing applications, addressing the sector's demand for high-purity and recyclable alternatives.

Segmental Insights

According to market research, the Automotive segment represents the fastest growing application within the Global Elastomers Market. This rapid expansion is primarily driven by the industry-wide imperative for vehicle lightweighting to enhance fuel efficiency and extend the driving range of electric vehicles. Manufacturers are increasingly substituting traditional metal components with high-performance elastomers to comply with stringent emission standards enforced by regulatory bodies such as the European Union and the United States Environmental Protection Agency. Furthermore, the electrification of the automotive sector necessitates specialized materials for battery thermal management and noise vibration reduction, further accelerating demand in this segment.

Regional Insights

North America holds the dominant position in the Global Elastomers Market, supported by high value generation across key industrial sectors. This leadership is largely driven by the automotive industry, where strict fuel economy mandates from the National Highway Traffic Safety Administration compel manufacturers to adopt lightweight elastomeric components to improve vehicle efficiency. Furthermore, the region benefits from a substantial healthcare market that necessitates premium, regulatory-compliant medical materials for devices and consumables. The presence of established manufacturing hubs and a strong focus on material compliance ensures North America maintains its competitive advantage over other global regions.

Recent Developments

• In October 2024, Avient Corporation unveiled two new grades of recycled-content thermoplastic elastomers at the Fakuma International Trade Fair for Plastics Processing. The newly launched materials were formulated with significant percentages of post-consumer recycled content, reaching up to sixty percent, to support circular economy goals in the consumer goods and automotive sectors. These elastomers were designed to provide a sustainable alternative to traditional prime grades while maintaining essential mechanical properties and aesthetic versatility. The release underscored the company's focus on broadening its sustainable portfolio to meet the increasing regulatory and consumer demand for environmentally responsible material solutions.
• In August 2024, Huntsman Corporation launched a new series of thermoplastic polyurethane materials specifically engineered for the footwear industry. The new product line, marketed as AVALON GECKO, was developed to provide enhanced grip and durability for high-performance shoe soles. This innovation addressed the specific technical requirements of footwear manufacturers seeking materials that offer superior slip resistance and abrasion performance on both wet and dry surfaces. The introduction of this elastomer series expanded the company's portfolio of specialized solutions, aiming to improve safety and functionality in athletic and industrial footwear applications.
• In July 2024, Dow introduced a new bio-based ethylene propylene diene terpolymer innovation at the German Rubber Conference. The company launched NORDEL REN, a sustainable elastomer solution produced using bio-residues from other industry applications as raw feedstock. This new product was designed to support the automotive, infrastructure, and consumer industries in reducing their carbon footprint while maintaining the same performance standards as fossil-fuel-based counterparts. The launch highlighted the company's commitment to advancing circularity by enabling customers to transition to low-carbon materials for applications such as weatherseals, hoses, and building profiles.
• In March 2024, Nordmann announced a strategic partnership with Cromogenia Units to expand its distribution portfolio within the global elastomers market. The collaboration aimed to leverage Nordmann’s extensive international distribution network alongside Cromogenia’s technical expertise in specialized chemical manufacturing. Through this agreement, the companies sought to introduce a broader range of high-performance elastomer solutions to customers across Europe, enhancing supply chain efficiency and technical support. This alliance was formed to address the evolving needs of the industrial sector by combining commercial reach with innovative material development capabilities.

Key Market Players

• The DOW Chemical Company
• BASF SE
• Covestro AG
• JSR Corporation
• Nizhnekamskneftekhim PJSC
• Teknor Apex
• E. I. Du Pont De Nemours and Company
• Lanxess AG
• Zeon Corporation
• Kuraray Co. Ltd.

By Type	By Application	By Region
Thermoset (Natural Rubber Synthetic Rubber (SBR, IIR, PBR, NBR, ACM, EPM)) and Thermoplastic (PEBA, SBC, TPO, TPU, TPV)	Automotive Consumer Goods Medical and Industrial	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Elastomers Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Elastomers Market, By Type:

• Thermoset (Natural Rubber
• Synthetic Rubber (SBR, IIR, PBR, NBR, ACM, EPM))
• and Thermoplastic (PEBA, SBC, TPO, TPU, TPV)

• Elastomers Market, By Application:

• Automotive
• Consumer Goods
• Medical
• and Industrial

• Elastomers Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE