Researchers frequently turn to the adaptable material known as elastomers for various industrial products, including soft robotics, astronautics equipment, vehicles, tissue engineering, self-healing, and constructional materials. The typical lower modulus of popular elastomers is accompanied by weak resistance to chemicals and abrasion. Most commonly, the rubbery polymers are called elastomers and may be readily expanded to lengths several times longer than they were originally. Although the polymeric chains continue to have some mobility, the cross-linkers keep them from wandering indefinitely in relation to one another. The material could become stiff, hard, and more similar in qualities to a thermoset if there were a lot of cross-links. Elastomers have inherent apparent, thermal processing, and mechanical properties, making additive manufacturing (AM) challenging. The advent of additive manufacturing, formerly known as three-dimensional (3D) printing, inspired academic and industrial researchers to combine elastomeric properties with design freedom and the potential for straightforward mass customization. Elastomers are employed in the adhesive industry because they have high adherence qualities. The elastomers may also be utilized extensively in daily applications due to their excellent adherence to various filler kinds and other characteristics. This review article explores current advancements in diverse elastomer types, 3D printing advances, functional elastomers, and applications in several sectors in the context of these developments. The discussions also include the present-day difficulties from the perspective of product development.