Saudi Arabia Elastomers Market

Saudi Arabia Elastomers Market Overview

Elastomers are commonly known as viscoelastic polymer as they are polymers that have both elastic and viscous properties. Elastomers have feeble intermolecular forces, having low Young’s modulus, high failure strain, and high yield strength. These are rubber-like solids with elastic properties of getting back to its original shape after being stretched to a great extent. Elastomers are cost-competitive polymers, which enhance the quality of materials as they provide properties such as permeability and thermal & chemical resistance. Elastomers are mainly used in various applications such as automotive, medical, consumer goods, among others.

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Major Saudi Arabia Elastomers Market Drivers

Elastomers are highly adopted by the automotive industry as an alternative for rubber and PVC as they provide a smooth and softer finish to the tires without compromising its performance. This factor plays a significant role in surging the growth of the elastomers market. In the automotive industry, elastomer is used to manufacture several materials such as tires, gear knobs, interior door handles, bushings, and chassis spring seating. The major advantage of elastomers is that it can be made in any color to match with the vehicle’s color, which is the reason why most of automobile companies are opting for the use of elastomers in manufacturing. Thermoplastic polyurethane elastomer is mainly used in automotive industries, which provides better mechanical performance, reduced thickness, and UV resistance. All these features drive the growth of the elastomers market.

Moreover, high demand for lightweight and high-performance materials in the manufacturing process is energizing the growth of the elastomers market. It also has several after production features such as powerful strength, flexibility, and high durability, which increase the demand of the market for elastomers. The annual growth in the rate of the population of Saudi Arabia and increasing income levels is boosting the demand for a high-quality product. These factors propel the development of the elastomers market in Saudi Arabia.

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Based on end-user industry, the market is segmented into automotive, consumer goods, medical, industrial, and others. The automotive segment is anticipated to witness a faster CAGR over the forecast period attributed to its high demand in the production of various vehicle parts such as interior door handles, tires, chassis spring seating, bushings, and gear knobs. Elastomers are highly cost-effective as compared to rubber and PVC, which attracts several automobile companies to use this material in the manufacturing process. Its properties include UV resistance, better mechanical performance, high durability, powerful strength, and good resilience. These features are the key factors driving the growth of the automotive segment in the elastomers market.

Based on type, the market is segmented into thermoset elastomers and thermoplastic elastomers. The thermoset elastomers segment is expected to grow at a higher CAGR over the forecast period. Thermoset elastomers provide appealing visuals after being cost-effective and enhance the mechanical performance of materials by improving the physical reliability and providing resistance to heat and chemicals. Due to its non-deforming property, it is used in the manufacturing of sealed products. Several industries are inclining towards thermoset elastomers due to these above-mentioned properties, which is increasing the growth of this segment in the elastomers market in Saudi Arabia.

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 Key Developments: 

• • In 2020, BASF SE expanded the application range of Ultrasim, a simulation tool of BASF, which is enabled to measure component concepts of elastomers from initial processing to the mechanical properties of the product.
  • In 2020, Sahara International Petrochemical Company announced its partnership with Linde Plc in Saudi Arabia by signing initial terms to increase the supply for the growing demand in the refining and chemical industries.

The Saudi Arabia Elastomers market has been segmented on the basis of type, and end-user industry. Based on type, the market is segmented thermoset elastomer and thermoplastic elastomer. The thermoset elastomer segment is further segmented into natural rubber and synthetic rubber. The thermoplastic elastomer segment is further segmented into styrene block copolymer, thermoplastic polyurethane, thermoplastic polyolefins, thermoplastic vulcanizates, thermoplasticpolyester elastomers, and polyether block amide. Based on end-user industry, the market is segmented into automotive, medical, consumer goods, industrial, and others. The automotive segment is sub-segmented into tire and other automotives. The consumer goods segment is further segmented into footwear. The industrial segment is further segmented into wire & cable.

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Market Segmentation:

Saudi Arabia Elastomers Market by Type

• • Thermoset Elastomers
    • Natural Rubber
    • Synthetic Rubber
  • Thermoplastic Elastomers
    • Styrene Block Copolymer
    • Thermoplastic Polyurethane
    • Thermoplastic Polyolefins
    • Thermoplastic Vulcanizates
    • Thermoplasticpolyester Elastomers
    • Polyether Block Amide

Saudi Arabia Elastomers Market by End-User Industry

• • Automotive
    • Tire
    • Other Automotive
  • Consumer Goods
    • Footwear
  • Medical
  • Industrial
    • Wire & Cable
  • Others