The global elastomers market is expected to reach $92.36 billion by 2021, growing at a CAGR of 4.6% from 2016 to 2021, and medical applications segment is projected to be the fastest-growing application segment of the global elastomers market, according to a report released by ReportsnReports. The market will be driven by the rising use of elastomers across various applications, such as automotive, medical, and industrial, due to their properties including superior mechanical properties, chemical resistance, and high heat stability. However, high processing cost of elastomers may limit the growth of market. In terms of application segment, medical is anticipated to be the fastest-growing segment for elastomers market based on volume and value. Elastomers are being widely applied in medical applications, as they have superior properties such as outstanding fungus resistance, tensile strength, low temperature flexibility, fluid resistance, acid/base resistance, excellent hydrolytic stability, easy sterilization, and excellent translucency. These properties make them suitable for a broad range of applications including drug patches, medical bags, wound dressing, chest drainage, gas supply, drug delivery, peristaltic pump catheters, surgical instruments, valves, needleless syringes, ventilation bags, stoppers, vial caps, and bottles. Asia-Pacific is projected to be the fastest-growing market for elastomers market, in terms of value and volume. Some driving factors, such as high economic growth rate, growing manufacturing industries, cheap labor, rising foreign investments, and increasing use of elastomers across various applications are expected to fuel the market growth in the region. China, India, Japan, and Taiwan are major markets for elastomers in Asia-Pacific. The key players in this market include BASF SE (Germany), The Dow Chemical Company (U.S.), JSR Corporation (Japan), E. I. du Pont de Nemours and Company (U.S.), Lanxess AG (Germany), Zeon Corporation (Japan), Kuraray Co. Ltd. (Japan), Covestro AG (Germany), Nizhnekamskneftekhim PJSC (Russia), and Teknor Apex Company (U.S.).