As per Intent Market Research, the Automotive Elastomers Market was valued at USD 15.3 Billion in 2024-e and will surpass USD 24.2 Billion by 2030; growing at a CAGR of 8.0% during 2025 - 2030.
The Automotive Elastomers Market is experiencing substantial growth driven by the increasing demand for lightweight, durable, and high-performance materials in the automotive industry. Elastomers, a class of polymers with elastic properties, are essential in manufacturing various automotive components due to their flexibility, resilience, and ability to withstand harsh conditions. These materials are used extensively in interior, exterior, and under-the-hood components, contributing to improved vehicle performance, safety, and comfort.
Automotive elastomers play a critical role in reducing vehicle weight, enhancing fuel efficiency, and offering solutions for vibration damping, noise reduction, and weather resistance. With the growing emphasis on vehicle electrification and the need for energy-efficient automotive systems, elastomers are also being developed to meet the demands of electric vehicles (EVs), making them an integral part of modern automotive engineering. The market is witnessing innovation in both synthetic and natural elastomers, as well as thermoplastic elastomers, which are increasingly adopted for their cost-effectiveness, recyclability, and versatile applications in vehicle manufacturing.
Thermoplastic Elastomers Lead the Market
Among the various product types, Thermoplastic Elastomers (TPEs) are the largest and fastest-growing subsegment in the Automotive Elastomers Market. TPEs combine the properties of both thermoplastics and elastomers, offering the flexibility and durability of traditional elastomers with the processability of thermoplastics. This makes them ideal for automotive applications, as they can be easily molded, recycled, and processed at lower temperatures, reducing manufacturing costs and improving sustainability.
The growing adoption of TPEs in automotive applications is attributed to their excellent performance in exterior components, seals & gaskets, and vibration dampers. Their ability to provide high impact resistance, weather resistance, and low friction properties makes them highly suitable for applications in both conventional vehicles and electric vehicles. Additionally, TPEs are gaining traction in the automotive interior components market due to their ability to meet aesthetic and comfort requirements while being cost-effective and environmentally friendly.
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Asia-Pacific Dominates Market Growth
The Asia-Pacific region is the largest and fastest-growing in the Automotive Elastomers Market, primarily due to the robust automotive manufacturing sector in countries like China, India, Japan, and South Korea. The region is home to some of the world's largest automotive producers and suppliers, driving the demand for high-performance elastomers in a wide range of vehicle applications.
With the increasing production and sales of vehicles, particularly in emerging markets like China and India, the demand for automotive elastomers is expected to rise sharply. Additionally, the growing adoption of electric vehicles (EVs) in the region is creating new opportunities for elastomer manufacturers, as these vehicles require specialized components that can be efficiently produced using elastomer materials. Furthermore, the emphasis on cost-effective, sustainable manufacturing processes in Asia-Pacific is accelerating the use of elastomers, including thermoplastic elastomers, in automotive production.
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Competitive Landscape in the Automotive Elastomers Market
The Automotive Elastomers Market is highly competitive, with a number of global and regional players vying for market share. Leading companies in the market include BASF SE, Dow Inc., Lanxess AG, Covestro AG, and SABIC, among others. These companies are focusing on product innovation, strategic collaborations, and expanding their manufacturing capabilities to meet the growing demand for advanced elastomeric materials.
In response to the increasing demand for electric vehicles, companies are investing in research and development to create elastomers that can cater to the specific requirements of EV components, such as improved thermal stability and electrical insulation. Additionally, manufacturers are exploring ways to improve the recyclability and environmental impact of elastomers, in line with the automotive industry's growing focus on sustainability and eco-friendly materials. As the market evolves, players are also focusing on regional expansion, particularly in the Asia-Pacific and North American markets, to capitalize on the rapidly growing demand for automotive elastomers in these regions.
List of Leading Companies:
- Dow Inc.
- BASF SE
- Lanxess AG
- Huntsman Corporation
- Kraton Polymers
- Arkema S.A.
- Elastomer Engineering
- Zeon Corporation
- Reliance Industries
- Covestro AG
- Momentive Performance Materials
- Trelleborg AB
- LG Chem
- Samsung Fine Chemicals
- Wacker Chemie AG
Recent Developments:
- Dow Inc. launched a new series of thermoplastic elastomers for automotive applications in February 2025.
- BASF SE introduced a high-performance elastomer for automotive seals and gaskets in January 2025.
- Huntsman Corporation expanded its portfolio of automotive elastomers with a new vibration damper material in December 2024.
- Kraton Polymers released an advanced elastomer solution for under-the-hood automotive components in November 2024.
- Lanxess AG developed a sustainable elastomer material for exterior automotive parts in October 2024.
Report Scope:
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Report Features |
Description |
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Market Size (2024-e) |
USD 15.3 Billion |
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Forecasted Value (2030) |
USD 24.2 Billion |
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CAGR (2025 – 2030) |
8.0% |
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Base Year for Estimation |
2024-e |
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Historic Year |
2023 |
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Forecast Period |
2025 – 2030 |
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Report Coverage |
Market Forecast, Market Dynamics, Competitive Landscape, Recent Developments |
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Segments Covered |
Automotive Elastomers Market By Product Type (Synthetic Elastomers, Natural Elastomers, Thermoplastic Elastomers), By Application (Interior Components, Exterior Components, Under-the-Hood Components, Seals & Gaskets, Vibration Dampers), By End-User Industry (OEMs, Aftermarket, Automotive Suppliers) |
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Regional Analysis |
North America (US, Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Australia, India, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, and Rest of Latin America), Middle East & Africa (Saudi Arabia, UAE, Rest of Middle East & Africa) |
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Major Companies |
Dow Inc., BASF SE, Lanxess AG, Huntsman Corporation, Kraton Polymers, Arkema S.A., Zeon Corporation, Reliance Industries, Covestro AG, Momentive Performance Materials, Trelleborg AB, LG Chem, Wacker Chemie AG |
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Customization Scope |
Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements |
Frequently Asked Questions
The Automotive Elastomers Market was valued at USD 15.3 Billion in 2024-e and is expected to grow at a CAGR of 8.0% of over from 2025 to 2030.
Automotive elastomers are used for various components in vehicles, including seals, gaskets, vibration dampers, and interior and exterior parts.
Synthetic elastomers are man-made materials designed to mimic rubber, while natural elastomers are derived from rubber tree sap.
Thermoplastic elastomers are used in automotive applications for their flexibility, durability, and ease of processing, especially in seals and gaskets.
Automotive elastomers are primarily used in interior components, exterior parts, seals, gaskets, and under-the-hood components.
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1. Introduction |
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1.1. Market Definition |
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1.2. Scope of the Study |
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1.3. Research Assumptions |
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1.4. Study Limitations |
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2. Research Methodology |
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2.1. Research Approach |
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2.1.1. Top-Down Method |
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2.1.2. Bottom-Up Method |
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2.1.3. Factor Impact Analysis |
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2.2. Insights & Data Collection Process |
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2.2.1. Secondary Research |
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2.2.2. Primary Research |
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2.3. Data Mining Process |
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2.3.1. Data Analysis |
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2.3.2. Data Validation and Revalidation |
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2.3.3. Data Triangulation |
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3. Executive Summary |
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3.1. Major Markets & Segments |
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3.2. Highest Growing Regions and Respective Countries |
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3.3. Impact of Growth Drivers & Inhibitors |
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3.4. Regulatory Overview by Country |
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4. Automotive Elastomers Market, by Product Type (Market Size & Forecast: USD Million, 2023 – 2030) |
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4.1. Synthetic Elastomers |
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4.2. Natural Elastomers |
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4.3. Thermoplastic Elastomers |
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4.4. Others |
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5. Automotive Elastomers Market, by Application (Market Size & Forecast: USD Million, 2023 – 2030) |
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5.1. Interior Components |
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5.2. Exterior Components |
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5.3. Under-the-Hood Components |
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5.4. Seals & Gaskets |
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5.5. Vibration Dampers |
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5.6. Others |
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6. Automotive Elastomers Market, by End-User Industry (Market Size & Forecast: USD Million, 2023 – 2030) |
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6.1. OEMs (Original Equipment Manufacturers) |
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6.2. Aftermarket |
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6.3. Automotive Suppliers |
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6.4. Others |
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7. Regional Analysis (Market Size & Forecast: USD Million, 2023 – 2030) |
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7.1. Regional Overview |
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7.2. North America |
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7.2.1. Regional Trends & Growth Drivers |
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7.2.2. Barriers & Challenges |
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7.2.3. Opportunities |
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7.2.4. Factor Impact Analysis |
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7.2.5. Technology Trends |
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7.2.6. North America Automotive Elastomers Market, by Product Type |
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7.2.7. North America Automotive Elastomers Market, by Application |
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7.2.8. North America Automotive Elastomers Market, by End-User Industry |
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7.2.9. By Country |
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7.2.9.1. US |
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7.2.9.1.1. US Automotive Elastomers Market, by Product Type |
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7.2.9.1.2. US Automotive Elastomers Market, by Application |
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7.2.9.1.3. US Automotive Elastomers Market, by End-User Industry |
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7.2.9.2. Canada |
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7.2.9.3. Mexico |
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*Similar segmentation will be provided for each region and country |
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7.3. Europe |
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7.4. Asia-Pacific |
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7.5. Latin America |
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7.6. Middle East & Africa |
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8. Competitive Landscape |
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8.1. Overview of the Key Players |
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8.2. Competitive Ecosystem |
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8.2.1. Level of Fragmentation |
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8.2.2. Market Consolidation |
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8.2.3. Product Innovation |
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8.3. Company Share Analysis |
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8.4. Company Benchmarking Matrix |
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8.4.1. Strategic Overview |
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8.4.2. Product Innovations |
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8.5. Start-up Ecosystem |
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8.6. Strategic Competitive Insights/ Customer Imperatives |
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8.7. ESG Matrix/ Sustainability Matrix |
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8.8. Manufacturing Network |
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8.8.1. Locations |
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8.8.2. Supply Chain and Logistics |
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8.8.3. Product Flexibility/Customization |
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8.8.4. Digital Transformation and Connectivity |
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8.8.5. Environmental and Regulatory Compliance |
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8.9. Technology Readiness Level Matrix |
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8.10. Technology Maturity Curve |
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8.11. Buying Criteria |
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9. Company Profiles |
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9.1. Dow Inc. |
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9.1.1. Company Overview |
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9.1.2. Company Financials |
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9.1.3. Product/Service Portfolio |
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9.1.4. Recent Developments |
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9.1.5. IMR Analysis |
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*Similar information will be provided for other companies |
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9.2. BASF SE |
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9.3. Lanxess AG |
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9.4. Huntsman Corporation |
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9.5. Kraton Polymers |
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9.6. Arkema S.A. |
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9.7. Elastomer Engineering |
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9.8. Zeon Corporation |
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9.9. Reliance Industries |
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9.10. Covestro AG |
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9.11. Momentive Performance Materials |
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9.12. Trelleborg AB |
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9.13. LG Chem |
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9.14. Samsung Fine Chemicals |
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9.15. Wacker Chemie AG |
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10. Appendix |
A comprehensive market research approach was employed to gather and analyze data on the Automotive Elastomers Market. In the process, the analysis was also done to analyze the parent market and relevant adjacencies to measure the impact of them on the Automotive Elastomers Market. The research methodology encompassed both secondary and primary research techniques, ensuring the accuracy and credibility of the findings.
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Secondary Research
Secondary research involved a thorough review of pertinent industry reports, journals, articles, and publications. Additionally, annual reports, press releases, and investor presentations of industry players were scrutinized to gain insights into their market positioning and strategies.
Primary Research
Primary research involved conducting in-depth interviews with industry experts, stakeholders, and market participants across the Automotive Elastomers ecosystem. The primary research objectives included:
- Validating findings and assumptions derived from secondary research
- Gathering qualitative and quantitative data on market trends, drivers, and challenges
- Understanding the demand-side dynamics, encompassing end-users, component manufacturers, facility providers, and service providers
- Assessing the supply-side landscape, including technological advancements and recent developments
Market Size Assessment
A combination of top-down and bottom-up approaches was utilized to analyze the overall size of the Automotive Elastomers Market. These methods were also employed to assess the size of various subsegments within the market. The market size assessment methodology encompassed the following steps:
- Identification of key industry players and relevant revenues through extensive secondary research
- Determination of the industry's supply chain and market size, in terms of value, through primary and secondary research processes
- Calculation of percentage shares, splits, and breakdowns using secondary sources and verification through primary sources
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Data Triangulation
To ensure the accuracy and reliability of the market size, data triangulation was implemented. This involved cross-referencing data from various sources, including demand and supply side factors, market trends, and expert opinions. Additionally, top-down and bottom-up approaches were employed to validate the market size assessment.