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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Santoprene Market Growth
East and South Asian Region to Significantly Contribute to the Santoprene Industry Growth
The growth of the santoprene industry is likely to be aided by the East and South Asian regions due to the presence of numerous automobile manufacturers as well as automotive parts manufacturers in the regions. The rising disposable incomes, as well as the ongoing trend in the regions of rising car purchases, are expected to contribute to the growth of the market in the regions. Europe is also a major regional market for santoprene due to the presence of numerous key players in the region. North America will also play a significant role in the santoprene industry's growth as the region is one of the world's leading suppliers of domestic consumer products.
Rising Demand from the Automobile and Construction Industries to Bolster the Market Growth
The market growth is primarily being driven by the rising demand for automobiles triggered by the rising disposable incomes of the consumers. As a result of the rapidly rising population and their increasing purchasing power, the demand for passenger cars is constantly growing, driving the santoprene industry further. The applications of santoprene are also on the rise due to the rising demand for easy maintenance and superior engine performance that can help reduce the weight of automobiles by employing alternative materials to manufacture bulky parts.
The construction sector is also witnessing a strong growth as the number of residential, commercial, and infrastructural projects in developed and developing countries across the globe increases. It will also help to boost the santoprene industry growth due to the rising investments in phasing out old structures and creating new infrastructures in order to meet changing demands.
Santoprene Market Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global santoprene market is being driven by the rising thermoplastic vulcanizate market, which is projected to grow at a CAGR of 6% between 2024 and 2032.
The major drivers of the industry, such as rising disposable incomes, increasing population, growing demand for automobiles, increasing purchasing power, growing construction sector, rising demand for passenger cars, and the growing demand for easy maintenance and superior engine performance, are expected to aid the market growth.
The key trends guiding the growth of the market include the increasing investments in phasing out old structures and the ongoing trend of rising car purchases.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading types of constituent polymer in the market are polypropylene, polyolefins, polyacrylate rubber, and butadiene rubber, among others.
The major methods of production in the industry are injection moulding, extrusion, flame retardant, bonding, compression moulding, and blow moulding, among others.
The significant end use sectors in the market are automotive, construction, household appliances, electrical components, and healthcare, among others.
The major players in the industry are Exxon Mobil Corporation, Sherwood Industries, Inc., Kent Elastomer Products, Inc., and Canada Rubber Group, Inc., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124