High-performance elastomers to grow 6%

摘要

UK: Demand for high-performance elastomers is set to show”powerful growth”as product innovation and new end-use markets stimulate the market, Smithers Rapra forecasts.In a new market study, Smithers Rapra predicts global consumption to grow from 1.63 million tonnes this year to 2.19 million tonnes by 2024-a CAGR of 6.1%.The transport sector will remain the most important user of high-performance elastomers, said the report issued 14 June.The segment, it noted, will account for 48% of worldwide demand in 2019.IT and electronics & electrical(E&E)uses will also be major growth segments for the elastomers during the five-year period, the report found.Improving the heat and chemical resistance of high-performance elastomers will allow their use in more demanding under-the-hood applications, the report added.