Automotive Elastomers Market Share

The Asia Pacific region automotive elastomers market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2037. The increasing auto components industry in the region. For instance, in March 2022, the automobile component industry had a turnover of USD 56 billion, an increase of 22% over the previous year. To a total of USD 18 billion, exports of auto components increased by 42% in FY22. Moreover, the rapid growth of the automotive industry, the largest vehicle production in emerging economies such as India and China, and the affordability of raw materials and labor are expected to drive the regional market over the forecast period.