Global Automotive Elastomers Market to Reach $103.7 Billion by 2030
The global market for Automotive Elastomers estimated at US$65.8 Billion in the year 2023, is expected to reach US$103.7 Billion by 2030, growing at a CAGR of 6.7% over the period 2023-2030. Thermoset Elastomer, one of the segments analyzed in the report, is expected to record 7.2% CAGR and reach US$63.7 Billion by the end of the analysis period. Growth in the Thermoplastic Elastomer segment is estimated at 5.9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $17.2 Billion, While China is Forecast to Grow at 10.1% CAGR
The Automotive Elastomers market in the U.S. is estimated at US$17.2 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$24.5 Billion by the year 2030 trailing a CAGR of 10.1% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.2% and 5.6% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4.9% CAGR.
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