Pune, India – October 01, 2026 -- The global elastomers market is projected to grow from $104.73 billion in 2025 to $149.19 billion by 2034, a compound annual growth rate of 4.01% through the forecast period, according to Maximize Market Research.
BASF starts commercial TPU production in Shanghai to serve China's EV and robotics demand
In April 2026, BASF began commercial production of its Elastollan flame-retardant thermoplastic polyurethane (TPU) grade in Shanghai, expanding local supply for robotics, industrial automation and EV charging cable applications. The move strengthens China's position as a major hub for specialty elastomer production and consumption.
Dow commits $100 million to specialty silicone capacity through 2027
Dow is investing roughly $100 million through 2027 to expand specialty silicone manufacturing and innovation capabilities across the U.S., China and Japan. LANXESS has introduced Vulkanox 4060, a new anti-aging additive developed for tire applications.
Asia Pacific holds the largest regional share on automotive and tire manufacturing scale
Asia Pacific led the market in 2025, supported by vehicle production, petrochemical capacity, and rising thermoplastic elastomer adoption across China, India, Japan, South Korea and Malaysia. North America and Europe remain centered on high-performance and specialty grades for automotive, aerospace, healthcare and electronics, while South America and the Middle East & Africa are expanding on new infrastructure and energy investment.
Thermoset elastomers dominate, but thermoplastic grades gain share on recyclability
Thermoset Elastomers led the market by type in 2025 due to heat resistance and durability suited to demanding automotive and industrial uses. Thermoplastic Elastomers are gaining faster traction as manufacturers seek lighter, recyclable, easier-to-process materials for automotive interiors, electronics and medical devices. Automotive remained the leading application segment, driven by seals, hoses, belts, gaskets and vibration-damping components.
Getzner Werkstoffe and SaarGummi expand India manufacturing footprint
Getzner Werkstoffe opened a new polyurethane elastomer facility in Baramati, India, while SaarGummi expanded its Chennai operations to produce EPDM and TPV automotive sealing systems.