The global medical elastomers market is mainly driven by factors such as advancements in the thermoplastic elastomer (TPE) processing technology, growing demand for medical products incorporating elastomers, increasing government support, and rising awareness among people on improved healthcare facilities.
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Healthcare facilities, across the globe, are improving on account of increasing government initiatives, growing medical awareness and health concerns among people, and rising disposable income of people. This, in turn, is resulting in huge spending on the research and development of medical products that are more compatible and less harmful to the human body.
Moreover, increased demand for these elastomers in emerging economies is expected to continue providing ample growth opportunities to the players in the medical elastomers market. This has also led to the establishment of new production lines or sites by various players in the Asia-Pacific (APAC) region.
Medical elastomers are versatile, engineered, and biocompatible materials that serve a wide range of applications in the healthcare industry, such as medical tubing, wrapping, and packaging. These materials demonstrate high elasticity and resilience.
Based on type, the medical elastomers market is categorized into thermoset elastomers (TSEs) and thermoplastic elastomers (TPEs). TSEs are further classified into liquid silicone rubber (LSR), high-consistency rubber (HCR), and others. TPEs, on the other hand, are further classified into thermoplastic polyurethane (TPU), styrene block copolymers (SBCs), and others.
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Some of the major players operating in the global medical elastomers market are BASF SE, Celanese Corporation, DowDupont Inc., Eastman Chemical Company, Kuraray Co. Ltd., Mitsubishi Chemical Corporation, Momentive Performance Materials Inc., Polyone Corporation, Royal DSM, RTP Company, Solvay S.A., Teknor Apex, and Trelleborg AB.
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