Have you ever noticed how important elastomers are in our daily lives? Let's take a closer look at what they do.
Elastomers are special kinds of materials that can stretch and bounce back. They're made of long chains of molecules that are linked together weakly. They're not good at conducting electricity, but they're strong when you pull them. There are two main types: one that can be heated and reshaped (thermoplastic), and another that becomes hard and can't change shape once it's been made (thermoset). The kind that can be heated and reshaped is easier to use and recycle. The other kind is tough and can handle high temperatures well. Overall, elastomers are seen as useful and affordable materials.
Elastomers play a crucial role in the world economy, but sometimes their prices can change a lot due to the costs involved in making them. This can lead to ups and downs in supply. According to the latest BCC Research study the demand for Elastomers: Applications and Global Markets was valued at $105.0 billion in 2023 and will reach $153.5 billion by 2028 at a compound annual growth rate (CAGR) of 7.9% during the forecast period of 2023-2028.