Growing Demand for Santoprene to Significantly Increase Revenues Through 2029

Santoprene Market: Introduction

Santoprene is a type of thermoplastic vulcanizates which was discovered accidentally as a result of years of research and experiments to find a new material for injection molded tires. The new material which was developed was santoprene which possessed characteristics of vulcanized rubber and the processing properties inherent in thermoplastics. Santoprene is a chemically cross-linked vulcanized rubber encapsulated in a thermoplastic matrix. Though santoprene possesses properties resembling thermoset rubber, the material is melt-processable like thermoplastic. The material has high tensile strength due to the homogenous dispersion of small particle sized rubber.

The major benefits provided by santoprene include, durable sealing performance which does not interfere with the aesthetics of a finished part. In addition, the simplified processing capacity and its flexible nature also helps companies manufacture complex parts with ease by using santoprene. Further, the material contributes to sustainability due to its low weight and simple end of life recycling of manufactured parts. Santoprene, due to its aforementioned properties finds application in industries engaged in the production of automotive components, building and construction parts, household appliance parts and electrical components.

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Santoprene Market: Market Dynamics

The increasing disposable income in the hands of consumers is enabling them purchase multiple passenger vehicles. The increasing population is also driving the growth of the passenger car markets. Further, ease of maintenance and superior engine performance translating into high speed vehicles calls for reduction of weight of automobiles by using alternative materials to manufacture bulky parts.

The construction industry is also witnessing high growth due to the increase in the number of residential, commercial, and infrastructural projects coming up in developed and developing nations across the globe. The need to accommodate a large migrant workforce and the much needed investments to phase out old infrastructure and develop new ones to keep pace with the changing requirements will also lend a helping hand in driving the growth of the santoprene market.

The poor wear resistance of santoprene based materials upon repeated and long term regular usage is one of the key challenges faced by the global santoprene market. The frequent need to replace the material upon wear out and the higher cost associated with replacement of the material is also another key factor deterring the growth of the santoprene market.

Santoprene Market: Market Segmentation

The global Santoprene market can be segmented on the basis of type of raw materials, method of production, and application.

On the basis of type of constituent polymer, the global Santoprene market is segmented into:

  • Polypropylene
  • Polyolefins
  • Polyacrylate Rubber
  • Butadiene Rubber
  • Others

On the basis of method of production, the global Santoprene market is segmented into:

  • Injection Molding
  • Extrusion
  • Compression Molding
  • Blow Molding
  • Others (Thermoforming, Calendaring, etc.)

On the basis of end use industry, the global Santoprene market is segmented into:

  • Automotive
  • Construction
  • Household Appliances
  • Electrical Components
  • Others (Healthcare, Industrial, etc.)

Santoprene Market: Regional Outlook

On the regional front, East and South Asia is expected to dominate the santoprene market owing to the presence of a large number of automobile manufacturers as well as auto parts manufacturers in the region. In addition, the rise in disposable incomes and the continuing trend of increasing automobile purchase in the region is expected to help these regions dominate the santoprene market. Europe is the second largest market of santoprene owing to the presence of a large number of automobile manufacturers in the region. North America will also contribute to the growth of the santoprene market as the country is the highest exporter of consumer home appliances and durables across the globe.

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Santoprene: Key Market Participants

Some of the key market participants in the global Santoprene market are:

  • Exxon Mobil Corporation
  • Sherwood Industries, Inc.
  • Kent Elastomer Products, Inc.
  • Interstate Speciality Products
  • Canada Rubber Group, Inc.
  • Reed Rubber Products, Inc.
  • IXOM
  • Extrudex
  • Elastochem
  • Bjorn Thorsen AB
  • Micro Plastics Pvt. Ltd.
  • ICO Mold Llc.
  • STI Components Llc
  • The Rubber Company
  • Resinex Group