Automotive Elastomers Market Size Is Poised To Reach USD 51.3 Billion By 2030Posted by Neha Bora on September 16th, 2022 San Francisco, 16 Sep 2022: The Report Automotive Elastomers Market Size, Share & Trends Analysis Report By Type (Thermoset, Thermoplastic), By Application (Tire, Interior, Exterior, Under The Hood), By Vehicle Type, By Region, And Segment Forecasts, 2022 - 2030 The global automotive elastomers market size is expected to reach USD 51.3 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.4% from 2022 to 2030. An increase in consumer disposable income and strict regulations by the government to reduce pollution are expected to impel market growth. The COVID-19 pandemic had a negative impact on the market due to the suspension of automobile production and a decrease in vehicle demand due to worldwide financial instability. On a global scale, the outbreak disrupted the whole automotive supply chain. Since the automotive elastomers sector is entirely dependent on automobile sales, this outbreak hugely impacted this market. However, the market grew significantly in 2021, mainly due to the increased sales of electric vehicles, and is thus likely to stimulate the industry. Mergers & acquisitions, agreements, and expansions are the key strategies adopted by the companies over the past years. For instance, in December 2020, Ace Midwest LLC declared the acquisition of all functioning assets of RotaDyne's elastomer processing group rubber manufacturing business, strengthening the firm's product line and elastomers business. Access Research Report of Automotive Elastomers Market @ https://www.grandviewresearch.com/industry-analysis/automotive-elastomers-market-report Automotive Elastomers Market Report Highlights
List of Key Players in the Automotive Elastomers Market
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