Thermoplastic Elastomers Market Research Report

Thermoplastic Elastomers Market:

Growth opportunities in the Thermoplastic Elastomers Market look promising over the next six years. This is mainly due to increased consumer preference towards high-performance and lightweight passenger cars and their use in different applications.

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Thermoplastic Elastomers Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

The crucial driver responsible for the growth of the global thermoplastic elastomer market includes its surging consumption in various applications like construction, electronics, footwear, and consumer goods. Also, the increasing inclination of consumers towards low-weight and better-performing passenger cars has persuaded development in plastics. This has raised their consumption owing to the better physical and chemical features than thermoset plastics. The rising tendency to choose TPU & TPO as an alternative for ethylene propylene diene monomer (EPDM) in the construction material is strengthening the market share. Governments across various countries are emphasizing decreasing the carbon emissions imparted by automobiles. Th

The government of various countries is focusing on reducing carbon emissions produced by automobiles. The U.S. Environment Protection Agency (EPA) determined the guidelines and techniques related to controlling carbon emission for automotive vehicles as mentioned in the Clean Air Act, effective from October 2008. Therefore, the fuelling demand for fuel-efficient cars and industrial machinery is propelling the market growth. The elastomers are environment friendly and can be recycled, remodeled, and reshaped, thereby curbing wastage to a more considerable extent. Additionally, the unique features of TPE are persuading their implementation in several applications. Also, executive bodies, which include FDA, U.S. Pharmacopeia, are promoting the use of TPE for enhanced consumer health and safety. However, the excessive cost associated with TPE compared to traditional material is restricting the market growth. Also, the manufacturing procedures involve high investment and are a complicated process.

Regional Drivers

Based on the regional coverage, Asia-Pacific is predicted to expand at a higher CAGR during the forecast period. China is one of the leading nations in terms of GDP. The Chinese automotive industry is catching the demand for vehicles in domestic and foreign markets. Also, the accelerating demand for SUVs and lightweight and fuel-efficient vehicles accompanied by the growing prominence of electric vehicles is fuelling the market growth.

Thermoplastic Elastomers Market’s leading Manufacturers:

· Tosh Corporation

· Teknor APEX Company

· Covestro AG

· Asahi Kasei Corporation

· DuPont

· The Lubrizol Corporation

· Huntsman International LLC

· Dow

· Asahi Kasei Corporation

Thermoplastic Elastomers Market Segmentation:

Segmentation by Type

· Styrenic Block Copolymer

· Thermoplastic Polyurethane

· Thermoplastic Polyolefins

· Thermoplastic Vulcanizates

· Copolyester Ether Elastomers

· Polyether Block Amide Elastomers

Segmentation by End Use Industry

· Automotive

· Building & Construction

· Footwear

· Wires & Cables

· Medical

· Engineering

· Others

Segmentation by Region:

· North America

o United States of America

o Canada

· Asia Pacific

o China

o Japan

o India

o Rest of APAC

· Europe

o United Kingdom

o Germany

o France

o Spain

o Rest of Europe

· RoW

o Brazil

o South Africa

o Saudi Arabia

o UAE

o Rest of the world (remaining countries of the LAMEA region)

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