In a recently published report, Global Medical Elastomers Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Medical Elastomers Market products.
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It is also anticipated to grow on account of the growing demand for chemicals from the end users, backed by the increasing consumption of chemicals across different industries and the rising need for advanced chemicals. In India, the production of major chemicals and petrochemicals during the period 2020-2021 was close to 12000 thousand MT. Additionally, between the period 2015-16 and 2019-20, the production of the chemicals and petrochemicals in the nation grew at a CAGR of close to 6%.
Global Medical Elastomers Market valued approximately USD 5.5 billion in 2017 is anticipated to grow with a healthy growth rate of more than 7.5% over the forecast period 2018-2025. The Medical Elastomers market is developing and expanding at a significant pace. Medical Elastomers exhibit various physical properties such as high viscosity and weak intermolecular force that are favorable to meet the stringent requirements of healthcare and pharmaceutical industries.
Rising demand of medical elastomers can be attributed to recent advancements in thermoplastic elastomer processing industry acting as key driver for global medical elastomer market over the forecasted years. In addition, increasing awareness and government initiatives to ensure high-quality of healthcare facilities are primarily driving the market. However, strict regulations imposed to meet the quality standards by various regulatory organizations may hinder the market growth to some extent.
On the basis of segmentation, the Medical Elastomers market is segmented into Type and application. The Type segment is classified into Thermoset Elastomers, Thermoplastic Elastomers. The application segment is classified into Medical Tubes, Gloves, Catheters, Medical Bags, Syringes, Implants and Others. The Type segment is anticipated to dominate the Medical Elastomers market considering the forthcoming years and the global scenario.
The regional analysis of Global Medical Elastomers Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the fastest growing region across the world in terms of market share. The Europe region is anticipated to fastest growing in the Medical Elastomers market. The European countries which includes United Kingdom, Germany and Sweden are the key revenue contributing countries considering the European region. Whereas, owing to the countries such as China, Japan, and India, Asia Pacific region is anticipated to be the dominating region over the forecast period 2018-2025.
The leading market players mainly include-
ï‚§ BASF SE
ï‚§ Solvay S.A.
ï‚§ Eastman Chemical Company
ï‚§ Royal DSM
ï‚§ Momentive Performance Materials Inc.
ï‚§ Celanese Corporation
ï‚§ Polyone Corporation
ï‚§ Kuraray Co., Ltd.
ï‚§ Trelleborg AB
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
ï‚§ Thermoset Elastomers
ï‚§ Thermoplastic Elastomers
o Thermoplastic Polyurethane
o Styrene Block Copolymers
ï‚§ Medical Tubes
ï‚§ Medical Bags
ï‚§ North America
ï‚§ Asia Pacific
ï‚§ Latin America
ï‚§ Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
Target Audience of the Global Medical Elastomers Market in Market Study:
ï‚§ Key Consulting Companies & Advisors
ï‚§ Large, medium-sized, and small enterprises
ï‚§ Venture capitalists
ï‚§ Value-Added Resellers (VARs)
ï‚§ Third-party knowledge providers
ï‚§ Investment bankers
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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