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Global automotive elastomers market anticipated to grow at a CAGR of 5.72 percent
Editor:Lisa Tan  Post Time:2017-08-05  Click:

Global automotive elastomers market


Hunan Yixiang Technology has a history of more than 20 years, and we are specialized in producing organic peroxides, such as BIPB(Cas NO.:25155-25-3), DHBP(Cas NO.:78-63-7), TMCH(Cas NO.:6731-36-8), co-crosslinking agent TAIC(Cas NO.:1025-15-6) and flame retardent TBC(Cas NO.:52434-90-9).We have fully finished REACH registration for BIPB and TAIC and maderegistration for TBC.


Research Nester Pvt. Ltd. reports that the global automotive elastomers market is anticipated to grow at a CAGR of 5.72 percent over the forecast period. The automotive elastomers market accounted for $9.2 billion in 2015. Rising demand for lightweight vehicles is anticipated to intensify the growth of the global automotive elastomers market. Significant growth of the automotive sector in the developing regions such as Asia-Pacific and Latin America is envisioned to bolster the demand for automotive elastomers in the region. Asia-Pacific captures the largest market share in global automotive elastomers and is likely to showcase a lucrative growth over the forecast period. Spiked growth of the automotive industry in the region is likely to garner the growth of the automotive elastomers market. Asian countries such as China, Japan and others have the potential to be the key suppliers of automotive elastomers in the near future. Moreover, China and India are anticipated to hold the largest market share in automotive elastomers on account of the largest vehicle production countries in the Asia-Pacific region. The Europe region is anticipated to showcase modest growth in the next few years. This can be attributed to various factors such as strict emission regulation and rising adoption of low weight vehicles. Apart from this, the well-established automotive industry in the Europe region is envisioned to bolster the growth of the automotive elastomers market in the region. The North America region is likely to provide a significant boost to the market of the automotive elastomers market. This is primarily due to increased demand for lightweight and fuel-efficient automobiles. Further, the automotive elastomers market in the North America region is anticipated to showcase an expansion on account of strict emission rules. The automotive elastomers market in the Middle East region is projected to grow owing to the rising presence of automotive companies. Further, rising disposable income of the population along with higher purchase prices of automobiles are expected to drive the automotive elastomer market in the Middle East region.

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