Increasing demand for medical grade elastomers is estimated to drive the worldwide medical elastomers market over the forecast period. DuPont, for example, will open its new medical elastomers mixers at the Healthcare Industries Materials Site (HIMS) in Michigan, U.S., in October 2021. The capacity expansion will increase medical-grade elastomer manufacturing capabilities, enable sustainable growth in Liveo medical elastomers serving specialty medical devices across the value chain, and support strong growth in in-house production of Liveo pharmaceutical tubing, medical devices, and topical blends.
The global Medical Elastomers Market was worth $7,103.15 million in 2021 and is expected to be worth $11,762.94 million by 2028, growing at a 7.6% CAGR between 2022 and 2028.
Prominent Companies in the Medical Elastomers Industry:
- Avient: Avient Corp develops and offers a wide range of chemical and plastic-based products to plastic designers and processors. The company is divided into three divisions: Specialty Engineered Materials, Distribution, and Colour, Additives, and Ink. Founded 2000. Avon Lake is the headquarters of the United States. In 2022, Avient Corporation (a major global provider of sustainable and specialised material solutions) announced a definitive agreement to sell its Distribution business to an affiliate of H.I.G. Capital for $950 million in cash, subject to regulatory approval.
2. Arkema Group: Arkema is a French chemical business that was previously noted for its extensive influence in the global acrylics market. However, the company has now built a substantial portfolio of specialised materials. Arkema is divided into four sections. The more specialised material firms are found in adhesive solutions, innovative materials, and coatings solutions. Founded 2004. The headquarters of Colombes France. Ashland performance adhesives are being acquired by Arkema.
- BASF SE: BASF, founded in 1865 and headquartered in Germany, is the world's largest chemical business, with products ranging from commodities to specialty. Furthermore, the company is a major participant in agricultural crop protection chemicals as well as pollution control catalysts for automobiles and trucks. BASF acquires Leuna-Miramid GmbH, extending its European leadership in engineering plastics. Huntsman / TDI business in the United States.
4. Biomerics: Medical device manufacturer based in the United States. The company manufactures interventional catheters, tube sets, and other medical device assemblies, with expertise in tube extrusion, catheter assembly, final FDA product packaging for sterilisation, and interventional delivery devices, custom complex balloon development, and high volume assembly. Founded 1987. Headquarters for the United States are in Indianapolis. Biomerics acquired a controlling stake in Berg Manufacturing.
5. Celanese Corporation: Celanese is a major producer of acetic acid and its downstream derivative chemicals, which are utilised in a variety of end applications such as coatings and adhesives. In addition, the company manufactures speciality polymers for the automotive, electronics, medical, and consumer end sectors, as well as cellulose derivatives for cigarette filters. Founded 1912. Irving, headquarters in the United States. CELANESE WILL PURCHASE THE MAJORITY OF DUPONT'S MOBILITY AND MATERIALS BUSINESS.
Definition: Elastomers are polymers that have viscosity and elasticity and therefore are known as viscoelasticity.
