Elastomers Market to Hit $177.7 Billion by 2030

“Scientific breakthroughs in bio-based and recyclable elastomers, rising sustainability awareness, and growing demand from EVs, healthcare, and infrastructure sectors are driving global elastomers market growth, supported by circular economy initiatives and favorable government policies.”

Boston, Feb. 12, 2026 (GLOBE NEWSWIRE) -- According to the latest BCC Research report, “Elastomers: Applications and Global Markets” is projected to grow from $120.4 billion in 2025 to $177.7 billion by 2030, at a compound annual growth rate (CAGR) of 8.1% from 2025 to 2030.

The report provides an in-depth analysis of the global elastomers market. The report categorizes the market into segments based on type (thermosets and thermoplastics), process (injection molding, extrusion, adhesive, coating and others), end user (automotive, industrial, medical, consumer goods, building and construction and others), and region (North America, Europe, Asia-Pacific, South America, and the Middle East and Africa). Revenue estimates are based on manufacturers’ total earnings, presented in constant U.S. dollars without inflation adjustments. Additionally, the report offers comprehensive insights into elastomers and their users.

Innovations:

• Elastomers are primarily consumed in EVs, lightweight commercial vehicles and passenger cars. The growing production of EVs in the Asia-Pacific region is driving massive demand for elastomers. Covestro AG strategically established its new elastomers production plant in Shanghai, China, and is targeting the Asia-Pacific EV producers to increase its market share in the Asia-Pacific elastomers market.

• Global elastomer producers are heavily investing in the scientific research of medical elastomers and creating new business streams in the developed nations. DuPont launched Liveo Pharm thermoplastic-based elastomers specifically for the biopharmaceuticals industry, fluid transport systems, and medical tubing. Product innovation will help the company to increase its presence in the medical industry.

The factors driving the market include:

Demand for Biocompatible Elastomers from the Medical Industry: Medical devices require materials that are safe for human contact. Biocompatible elastomers offer flexibility, durability, and non-toxicity, making them ideal for catheters, surgical tubing, and wearable health devices. Growing healthcare needs and the adoption of minimally invasive procedures are driving this demand.

Demand for Lightweight Automotive Components and EVs: Automakers seek lightweight materials to improve fuel efficiency and EV range. Elastomers are strong yet lightweight materials, commonly used in seals, gaskets, hoses and vibration dampers. The global shift to EVs and stricter emission norms are reshaping automotive manufacturing, fueling rapid growth in elastomer applications.

Demand for Castor Oil Plant-Based Elastomers: Sustainability trends are driving demand for bio-based elastomers derived from castor oil. These reduce reliance on fossil fuels and lower carbon footprints. Applications include eco-friendly footwear, automotive parts, and industrial components, aligning with green product preferences and corporate sustainability goals.

Use of Elastomers in 3D Printing Technology: 3D printing enables rapid prototyping and customized designs. Elastomers used in additive manufacturing enable the production of flexible, durable, and complex parts for medical implants, automotive components, and consumer goods. As 3D printing expands, elastomer-based materials emerging as a high-growth segment.

Request a sample copy of the global market for elastomers.

Report Synopsis

Interesting Facts:

• Elastomers can replace specific metal and ceramic parts in vehicles, reducing overall weight and carbon emissions. Moreover, elastomers can improve the performance and durability, and are used in the production of seals, hoses, wire insulation, O-rings, gaskets, EV battery seals, mats, cup holders, tires and bumpers.

• Southeast countries are the major hub for natural rubber production. Global elastomer producers are directing Southeast Asian countries to expand their product portfolios in the natural rubber segment. The increasing demand for natural rubber in North America and Europe has prompted manufacturers to concentrate on Southeast Asian nations.

Emerging startups:

• Prism Worldwide LLC
• Loop CO2, Inc.
• Cambridge Smart Plastics

AI Impact on the Elastomers Market

AI systems help manufacturers discover and formulate unique properties in the elastomers. Moreover, AI implementation can reduce research costs during the production phase and predict the blending formulations, properties and applications of elastomers. Covestro AG implemented AI systems to achieve sustainability goals and develop the polycarbonate and thermoplastic polyurethane elastomers in the circular economy.

For an in-depth analysis of AI’s impact on this sector, explore the complete AI Impact on Elastomers Market - BCC Pulse Report

The report addresses the following questions:

1. What are the projected market size and growth rate?

• The elastomers market is expected to reach $177.7 billion by the end of 2030, growing at a CAGR of 8.1% during the forecast period.

2. What factors are driving the growth of the market?

• Key drivers include:

• Rising demand for biocompatible elastomers from the medical industry.
• Revolution in the automotive industry.

3. What are the challenges and opportunities of the market?

• Key challenges include-

• Stringent environmental regulations on plastic consumption.
• Volatility in raw material prices.

• Key opportunities include-

• Growing demand for castor oil-based elastomers.
• Consumption of elastomers in 3D printing technology.

4. What market segments are covered in the report?

• The market is segmented by type, process, end use and region.

5. Which type segment will be dominant through 2030?

• The thermosets is expected to dominate the type segment by the end of 2030. The key properties of thermosets, such as tensile strength, abrasion resistance, chemical resistance, ease of processability and tear resistance, have attracted the attention of end-use industries. Thermosets are widely used in electronic components, adhesives, coatings, sports equipment, 3D-printed products, medical tubing, protective materials, and various automotive structural components. The growing consumption of lightweight vehicles further creates the demand for thermosets during the forecast period.

6. Which region has the largest market share?

• Asia-Pacific is a leading region in terms of demand contribution to the global elastomers market.

Market leaders include:

• ARKEMA
• ASAHI KASEI CORP.
• BASF
• COVESTRO AG
• DOW
• DUPONT
• EVONIK INDUSTRIES AG
• EXXON MOBIL CORP.
• HUNTSMAN INTERNATIONAL LLC.
• INNOVATIVE SILICONES
• LANXESS
• LG CHEM
• LYONDELLBASELL INDUSTRIES HOLDINGS B.V.
• STOCKWELL ELASTOMERICS
• URM

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