Bio-based Elastomers Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Product (Bio-based Thermoplastic, Bio-based Thermoset), By Application (Automotive, Footwear, Sports, Electrical & Electronics, Others), By Region, and Competition

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Report Description

Report Description

Global Bio-based Elastomers market is anticipated to grow significantly through 2028 due to increasing demand from automotive industry. In 2021, Germany was the leading automobile manufacturing country in Europe with more than 3 million vehicles produced. 

Manufacturers of conventional elastomers are being compelled to create partially or fully bio-based elastomers in response to the growing demand for using bio-based products to reduce the carbon footprints. Elastomer raw material producers are working together technologically to deliver bio-based raw materials. As a result, there is a large enough supply of bio-based raw materials available to produce bio-based elastomers.

For instance, in May 2021, U.S.-based Lummus Technology signed an agreement with Synthos to commercialize its technology for the development of bio-based butadiene which acts as an adequate monomer supply for bio-based elastomer production.

Moreover, increasing demand of bio-based elastomers from HVAC industry and from construction industry to produce materials such as tubes adhesives, coatings, help to expand the market in the forecast period.

Rising Demand from Automotive Industry

Elastomers are used in flooring, instrument panel skins, gasket, bellows, sound management, belts, and hoses inside automobiles. In addition, it may be employed in practically all sections of the automobile, including tires such as base tire, sidewalls, and treads, wiring, cables, and coatings. Materials used in automobile interiors must adhere to laws governing odor, fogging, and volatile organic compounds (VOCs) and regulations for Vehicle Interior Air Quality (VIAQ). The bio-based elastomers have a high proportion of bio-based components and less volatile organic compound (VOC), which is encouraging the automobile sector to use them.

Moreover, the growth of the market is largely attributable to the rising demand for lightweight materials in the automobile sector to provide greater economy and design flexibility. High-performance bio-based elastomers give manufacturers the benefits of design and steel-like strength, which reduces total weight and limits greenhouse gas emissions.

For instance, according to the International Organization of Motor Vehicle Manufacturers, the total number of vehicles produced in 2021 was more than 80 million.

Therefore, all the aforementioned factors, in turn, are expected to drive the demand for bio-based elastomers during the forecast period.

Growing Demand from Footwear Sector

Due to the usage of materials like leather, polyvinyl chloride, polyurethane, and rubber that end up in landfills, the manufacture of footwear has a substantial negative impact on the environment. Several major sporting goods companies focus on the production of entirely biodegradable, high-performance athletic footwear, which may have a favorable impact on the market for bio-based elastomers.

For instance, Nike employed 50% bio-based thermoplastic polyurethanes (TPU) and 50% Pebax Renew, a castor-based thermoplastic elastomer produced by Arkema that comprises about 97% renewable-based components in their GS football boot.

Therefore, increasing use of bio-based elastomers in footwear domain leads to the growth of Global Bio-based Elastomers Market during the projected period.

Bio-Based Thermoplastic will be the Key Product

With an equivalent shore hardness ranging from 55 shore A to 80 shore A, they are becoming more widely used in automotive applications as an alternative to conventional crude oil-based elastomers. Bio-based thermoplastic polyolefin, bio-based thermoplastic styrene block copolymer, bio-based thermoplastic polyamide, and bio-based thermoplastic polyurethane elastomers are some of the bio-based thermoplastic elastomers that have been created and put on the market.

For instance, Dow Inc., produced AFFINITY RE a bio-based polyolefin elastomers which is used in packaging having high performance, quality finish, and reduce the Carbon footprint as compared to standard Polyolefin Elastomer materials.

Thus, increasing demand of biobased products, anticipated the growth of Global Bio-based Elastomers Market in the upcoming years.  

Recent Developments

  • In November 2022, for the purpose of producing environmentally friendly tires, Asahi Kasei Corporation began selling Asadene BR and Tufdene S-SBR.
  • Bio-based polyester elastomer soles were created by the Beijing University of Chemical Technology for biodegradable shoes made from corn stalk latex, bamboo fibre, and hemp fibre in August 2022.
  • In March 2021, Eni's chemical company signed a joint development agreement with Bridgestone EMIA for the research, production and supply of synthetic rubber with advanced properties.
  • DSM and Sympatex Technologies worked together to introduce Arnitel, a bio-based thermoplastic elastomer in February 2021. 


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Market Segmentation

Global Bio-based Elastomers Market is segmented based on product, application, and region. Based on product, the market is segmented into bio-based thermoplastic and bio-based thermoset. Based on application, the market is fragmented into automotive, footwear, sports, electrical & electronics, and others. Based on region, the market is divided into North America, Europe, Asia Pacific, South America, Middle East & Africa.

Company Profiles

Dow Inc, FKuR Kunststoff GmbH, Audia Elastomers, BASF SE, Trinseo PLC, Koninklijke DSM N.V., Eni S.p.A., Arkema S.A., Asahi Kasei Corporation, Kuraray Co., Ltd. are some of the key players of Global Bio-based Elastomers Market.

Attribute

Details

Base Year

2022

Historic Data

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million, Volume in Units, and CAGR for 2018-2022 and 2023-2028

Report coverage

Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends

Segments covered

Product

Application

Regional scope

North America, Europe, Asia Pacific, South America, Middle East & Africa

Country scope

United States, Mexico, Canada, France, Germany, United Kingdom, Spain, Italy, China, India, South Korea, Japan, Thailand, Brazil, Argentina, South Africa, Saudi Arabia, UAE

Key companies profiled

Dow Inc, FKuR Kunststoff GmbH, Audia Elastomers, BASF SE, Trinseo PLC, Koninklijke DSM N.V., Eni S.p.A., Arkema S.A., Asahi Kasei Corporation, Kuraray Co., Ltd.

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


Report Scope:

In this report, global Bio-based Elastomers market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:

  • Bio-based Elastomers Market, By Product:
    • Bio-based Thermoplastic
    • Bio-based Thermoset
  • Bio-based Elastomers Market, By Application:
    • Automotive
    • Footwear
    • Sports
    • Electrical & Electronics
    • Others
  • Bio-based Elastomers Market, By Region:
    • North America
      • United States
      • Mexico
      • Canada
    • Europe
      • France
      • Germany
      • United Kingdom
      • Spain
      • Italy
    • Asia-Pacific
      • China
      • India
      • South Korea
      • Japan
      • Thailand
    • South America
      • Brazil
      • Argentina
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE

Competitive landscape

Company Profiles: Detailed analysis of the major companies present in the global Bio-based Elastomers market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Bio-based Elastomers Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.    Markets Covered

1.2.2.    Years Considered for Study

1.2.3.    Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, Trends

4.    Voice of Customer

5.    Global Bio-based Elastomers Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value & Volume

5.2.  Market Share & Forecast

5.2.1.    By Product (Bio-based Thermoplastic, Bio-based Thermoset)

5.2.2.    By Application (Automotive, Footwear, Sports, Electrical & Electronics, Others)

5.2.3.    By Region (North America, Europe, Asia Pacific, South America, Middle East & Africa)

5.2.4.    By Company (2022)

5.3.  Market Map

5.3.1.    By Product

5.3.2.    By Application

5.3.3.    By Region

6.    North America Bio-based Elastomers Market Outlook

6.1.  Market Size & Forecast       

6.1.1.    By Value & Volume

6.2.  Market Share & Forecast

6.2.1.    By Product

6.2.2.    By Application

6.2.3.    By Country

6.3.  Pricing Analysis

6.4.  North America: Country Analysis

6.4.1.    United States Bio-based Elastomers Market Outlook

6.4.1.1.        Market Size & Forecast

6.4.1.1.1.           By Value & Volume

6.4.1.2.        Market Share & Forecast

6.4.1.2.1.           By Product

6.4.1.2.2.           By Application

6.4.2.    Mexico Bio-based Elastomers Market Outlook

6.4.2.1.        Market Size & Forecast

6.4.2.1.1.           By Value & Volume

6.4.2.2.        Market Share & Forecast

6.4.2.2.1.           By Product

6.4.2.2.2.           By Application

6.4.3.    Canada Bio-based Elastomers Market Outlook

6.4.3.1.        Market Size & Forecast

6.4.3.1.1.           By Value & Volume

6.4.3.2.        Market Share & Forecast

6.4.3.2.1.           By Product

6.4.3.2.2.           By Application

7.    Europe Bio-based Elastomers Market Outlook

7.1.  Market Size & Forecast       

7.1.1.    By Value & Volume

7.2.  Market Share & Forecast

7.2.1.    By Product

7.2.2.    By Application

7.2.3.    By Country

7.3.  Pricing Analysis

7.4.  Europe: Country Analysis

7.4.1.    France Bio-based Elastomers Market Outlook

7.4.1.1.        Market Size & Forecast

7.4.1.1.1.           By Value & Volume

7.4.1.2.        Market Share & Forecast

7.4.1.2.1.           By Product

7.4.1.2.2.           By Application

7.4.2.    Germany Bio-based Elastomers Market Outlook

7.4.2.1.        Market Size & Forecast

7.4.2.1.1.           By Value & Volume

7.4.2.2.        Market Share & Forecast

7.4.2.2.1.           By Product

7.4.2.2.2.           By Application

7.4.3.    United Kingdom Bio-based Elastomers Market Outlook

7.4.3.1.        Market Size & Forecast

7.4.3.1.1.           By Value & Volume

7.4.3.2.        Market Share & Forecast

7.4.3.2.1.           By Product

7.4.3.2.2.           By Application

7.4.4.    Spain Bio-based Elastomers Market Outlook

7.4.4.1.        Market Size & Forecast

7.4.4.1.1.           By Value & Volume

7.4.4.2.        Market Share & Forecast

7.4.4.2.1.           By Product

7.4.4.2.2.           By Application

7.4.5.    Italy Bio-based Elastomers Market Outlook

7.4.5.1.        Market Size & Forecast

7.4.5.1.1.           By Value & Volume

7.4.5.2.        Market Share & Forecast

7.4.5.2.1.           By Product

7.4.5.2.2.           By Application

8.    Asia-Pacific Bio-based Elastomers Market Outlook

8.1.  Market Size & Forecast       

8.1.1.    By Value & Volume

8.2.  Market Share & Forecast

8.2.1.    By Product

8.2.2.    By Application

8.2.3.    By Country

8.3.  Pricing Analysis

8.4.  Asia-Pacific: Country Analysis

8.4.1.    China Bio-based Elastomers Market Outlook

8.4.1.1.        Market Size & Forecast

8.4.1.1.1.           By Value & Volume

8.4.1.2.        Market Share & Forecast

8.4.1.2.1.           By Product

8.4.1.2.2.           By Application

8.4.2.    India Bio-based Elastomers Market Outlook

8.4.2.1.        Market Size & Forecast

8.4.2.1.1.           By Value & Volume

8.4.2.2.        Market Share & Forecast

8.4.2.2.1.           By Product

8.4.2.2.2.           By Application

8.4.3.    South Korea Bio-based Elastomers Market Outlook

8.4.3.1.        Market Size & Forecast

8.4.3.1.1.           By Value & Volume

8.4.3.2.        Market Share & Forecast

8.4.3.2.1.           By Product

8.4.3.2.2.           By Application

8.4.4.    Japan Bio-based Elastomers Market Outlook

8.4.4.1.        Market Size & Forecast

8.4.4.1.1.           By Value & Volume

8.4.4.2.        Market Share & Forecast

8.4.4.2.1.           By Product

8.4.4.2.2.           By Application

8.4.5.    Thailand Bio-based Elastomers Market Outlook

8.4.5.1.        Market Size & Forecast

8.4.5.1.1.           By Value & Volume

8.4.5.2.        Market Share & Forecast

8.4.5.2.1.           By Product

8.4.5.2.2.           By Application

9.    South America Bio-based Elastomers Market Outlook

9.1.  Market Size & Forecast       

9.1.1.    By Value & Volume

9.2.  Market Share & Forecast

9.2.1.    By Product

9.2.2.    By Application

9.2.3.    By Country

9.3.  Pricing Analysis

9.4.  South America: Country Analysis

9.4.1.    Brazil Bio-based Elastomers Market Outlook

9.4.1.1.        Market Size & Forecast

9.4.1.1.1.           By Value & Volume

9.4.1.2.        Market Share & Forecast

9.4.1.2.1.           By Product

9.4.1.2.2.           By Application

9.4.2.    Argentina Bio-based Elastomers Market Outlook

9.4.2.1.        Market Size & Forecast

9.4.2.1.1.           By Value & Volume

9.4.2.2.        Market Share & Forecast

9.4.2.2.1.           By Product

9.4.2.2.2.           By Application

10. Middle East and Africa Bio-based Elastomers Market Outlook

10.1.             Market Size & Forecast        

10.1.1. By Value & Volume

10.2.             Market Share & Forecast

10.2.1. By Product

10.2.2. By Application

10.2.3. By Country

10.3.             Pricing Analysis

10.4.             MEA: Country Analysis

10.4.1. South Africa Bio-based Elastomers Market Outlook

10.4.1.1.     Market Size & Forecast

10.4.1.1.1.         By Value & Volume

10.4.1.2.     Market Share & Forecast

10.4.1.2.1.         By Product

10.4.1.2.2.         By Application

10.4.2. Saudi Arabia Bio-based Elastomers Market Outlook

10.4.2.1.     Market Size & Forecast

10.4.2.1.1.         By Value & Volume

10.4.2.2.     Market Share & Forecast

10.4.2.2.1.         By Product

10.4.2.2.2.         By Application

10.4.3. UAE Bio-based Elastomers Market Outlook

10.4.3.1.     Market Size & Forecast

10.4.3.1.1.         By Value & Volume

10.4.3.2.     Market Share & Forecast

10.4.3.2.1.         By Product

10.4.3.2.2.         By Application

11. Market Dynamics

11.1.             Drivers

11.1.1. Rising demand from Automotive Industry

11.1.2. Growing demand from Footwear Sector

11.1.3. Increasing demand from Electrical & Electronics Sector

11.2.             Challenges

11.2.1. High cost of Product as compared to other alternatives

11.2.2. Complexity in Manufacturing Process

12. Market Trends & Developments

12.1.             Product Launches

12.2.             Merger’s & Acquisitions

12.3.             Technological Advancements

13. Global Bio-based Elastomers Market: SWOT Analysis

14. Porter’s Five Forces Analysis

14.1.             Competition in the Industry

14.2.             Potential of New Entrants

14.3.             Power of Suppliers

14.4.             Power of Customers

14.5.             Threat of Substitute Types

15. Competitive Landscape

15.1.             Business Overview

15.2.             Type Offerings

15.3.             Recent Developments

15.4.             Financials (In Case of Listed Companies)

15.5.             Key Personnel

15.6.             SWOT Analysis

15.6.1. Dow Inc

15.6.2. FKuR Kunststoff GmbH

15.6.3. Audia Elastomers

15.6.4. BASF SE

15.6.5. Trinseo PLC

15.6.6. Koninklijke DSM N.V.

15.6.7. Eni S.p.A.

15.6.8. Arkema S.A.

15.6.9. Asahi Kasei Corporation

15.6.10.              Kuraray Co., Ltd.

16. Strategic Recommendations

Figures and Tables

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Frequently asked questions

Frequently asked questions

Bio-based elastomers are produced from renewable biomass raw materials such as Bio-TPU and Bio-TPE used as soft-touch handles, seals for closures, and applications in consumer goods, sports equipment or toys.

Increased adoption of bio-based materials in automotive industry and in the footwear industry, are the factors driving the Global Bio-based Elastomers Market.

Dow Inc, FKuR Kunststoff GmbH, Audia Elastomers, BASF SE, Trinseo PLC, Koninklijke DSM N.V., Eni S.p.A., Arkema S.A., Asahi Kasei Corporation, Kuraray Co., Ltd. are some of the key players of Global Bio-based Elastomers Market.

Europe is expected to dominate the market during the forecast period due to accelerate the consumption of bio-based content in various end-use industries.

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