Global hyperelastic material market worth $15.5 billion in 2021. It's expected to grow at a CAGR of 5.2% during the forecast period of 2023 to 2030. Hyperelastic materials remain elastic after large strains and changes. Nonlinear material behaviour and morphological changes characterise them. Hyperelastic materials can undergo 100–700% elastic deformations and totally recover when the load is removed. Hyperelastic materials can alter shape while maintaining volume. Hyperelastic materials feature nonlinear stress-strain relations. When stretched, a material becomes flexible before stiffening again. Hyperelastic materials are rigid when compressed. Hyperelastic materials like Mooney-Rivlin rubber can manufacture complex-shaped components. Low cost-to-weight, high deformation, and vibration absorption give market players development opportunities. Hyperelastic materials are increasingly used due to their exceptional mechanical properties.
In 2021, the Automobile sector accounted for 55% of overall revenues. High-quality car tyres require hyperelastic material as a basic material. Automakers use hyperelastic materials because they have minimal rolling resistance and heat resistance. These tyres reduce CO2 emissions and improve ride comfort. Rising purchasing power, greater government regulations on vehicle emissions, and rising worldwide living standards all contribute to the automotive industry's growth. Growing middle and upper-middle classes, developing nations' economies, and global consumers' increased spending power drive the auto sector. Automotive designers must predict the stiffness of rubber bushing materials. Strain energy density function can simulate rubber compound behaviour. Due to the compressive deformation caused by busing swaging, it's important to account for material changes.
Hyperelastic materials are used in engine mounts, structural bearings, vibration absorbers, corrosion protection, tyres, medical equipment, shock isolators, and springs. Hyperelastic materials have unique properties such as high elongation, reversibility, incompressibility, and damping. Shock absorbers and vibration isolators are examples. The bushing's accuracy increased to 99.6% and its rigidity increased by 45%. Hyperelastic qualities define foam behaviour, while viscoelastic properties measure shear loads in automobile seats. Foam materials have hyperelastic characteristics. Automobile makers are focusing on developing hyperelastic materials for usage in flexible applications. Heavy loads demand long-term flexibility. This should boost the industry's growth potential. As a result, most vehicle makers are investing in hyperelastic materials, which will fuel the market.
Construction and manufacturing have been developing in India, China, Vietnam, Indonesia, and Brazil. Hyperelastic materials are used in applications requiring long-term flexibility and high pressures. Hyperelastic materials are used in elastomeric pads, rail pads, door seals, tyres, and fluid seals. Also used for bridges. Using hyperelastic materials in finite element models is convenient. Depending on the hyperelastic model used, these materials allow designers to exactly replicate stress and strain. This works even at 100% strain. Rural residents are relocating to cities for improved living conditions. This would certainly increase construction activity in urban areas, boosting the global market for hyperelastic materials in the coming years. Several national governments are focusing on smart city construction and green building. This should boost global market growth over the analysed period. Multinational developers plan to create enterprises in emerging markets via FDI incentive programmes. This will create smart cities and boost countries' economies. Due to rising construction demand, urbanisation is expected to boost the market for hyperelastic materials.
Butadiene rubber contributed 58% of 2021 revenue. It's expected to maintain its global market dominance during the time period. Butadiene rubber is used to create tyres, trash tubes, adhesives, roll covers, hoses, and gaskets. Butadiene rubber is in high demand worldwide. Butadiene rubber has great resilience, good tensile strength, rip resistance, and adequate bending qualities, even at low temperatures. Ethylene vinyl acetate dominated the market in 2021. During the foreseeable term, EVA demand will likely rise. It's expected to grow steadily over the next few years. During the anticipated period, thermoplastic polyurethane consumption should rise.
Asia Pacific controlled 45% of the worldwide hyperelastic materials market in 2021. During this estimation period, Asia-Pacific is expected to hold the largest share of the hyperelastic material market. During the projection period, the region's market is expected to grow rapidly. China will likely dominate the regional market for hyperelastic materials. The region has the most developing economies. North America has a large hyperelastic materials market.
Only a few large vendors dominate the majority of the hyperelastic materials market. Most corporations invest much in R&D. Exxon Mobil Corporation, Dow, LG Chem, Sumitomo Chemical Co., Ltd., Braskem, REPSOL S.A., CLARIANT AG, LyondellBasell Industries Holdings B.V., Mitsui Chemicals America, Inc., BASF SE, and LANXESS are significant hyperelastic material market makers. Braskem, REPSOL S.A., CLARIANT AG, etc. Companies are boosting production, for example. Dow Inc. announced in February 2020 that its Canadian ethylene plant would be enlarged by 130 kilotons. Korean polyols producer KPX Chemical formed a cooperative venture with Huntsman Corporation in September 2021. KPX HUNTSMAN Polyurethanes Automotive Co. Ltd. (KHPUA).
