Thermoplastic Elastomers Market

Thermoplastic Elastomers Market witnessed USD 18865 million in 2020, growing at a robust CAGR of 5.2% during forecast period.

Introduction of the Thermoplastic Elastomer Market Report

Thermoplastic elastomers consist of physical properties of thermoplastics and rubber, which helps them to be soft and flexible. They can be treated by general thermoplastic techniques such as injection molding, blow molding, or extrusion. The global thermoplastic elastomer market covers various end-use industry applications such as automotive, building & construction, footwear, medical, among others.

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Market Dynamic

Key Drivers and Emerging Trends

The factors driving the global Thermoplastic Elastomer market include its growing consumption in different applications such as footwear, consumer goods, construction, and electronics. Moreover, there has been an increase in consumer preference towards high performance and lightweight passenger cars, which has encouraged to bring innovation in plastics. This has surged thermoplastics consumption as it offers superior physical and chemical features as compared to thermoset plastics. In addition to this, the growing trend of opting for TPU & TPO as a substitute for ethylene propylene diene monomer (EPDM) in the construction material is further surging the market growth.

The government of various countries are focusing on reducing carbon emissions produced by automobiles. The U.S. Environment Protection Agency (EPA) determined the control techniques and guidelines related to the carbon emission for automotive vehicles as stated in the Clean Air Act, effective from October 2008. Therefore, the growing demand for fuel-efficient cars and industrial machinery is surging the demand for thermoplastic elastomers components around the world. The thermoplastic elastomers are eco-friendly thermoplastic that can be recycled, re molded, and re-shaped, thus reducing wastage to a great extent. The unique properties of TPE are encouraging its usage in various applications. Various regulatory bodies such as U.S. Pharmacopeia, FDA, among others, are supporting the application of TPE to ensure better consumer health and safety.

Restraint in the Thermoplastic Elastomer Market

On the other hand, the high cost of TPE as compared to conventional materials is a major factor that is hindering the market’s growth. The manufacturing process of TPE includes huge investment and is a complex process.

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Type – Segment Analysis

Based on the type, the thermoplastic polyurethane (TPU) segment is projected to grow at a higher CAGR during the forecast period. This is mainly due to the increasing usage of TPU in automotive under the hood applications and fascia systems. In addition to this, the TPU is also increasingly used in construction applications as it has thermal and acoustic insulation properties. The rising importance of energy efficiency in buildings and subsequent regulatory policies with an aim to develop zero energy buildings is further propelling the market growth.

Application – Segment Analysis

Based on the application, the automotive segment is projected to grow at a higher CAGR during the forecast period. This is mainly due to the increasing application of TPE in the automotive sector, especially under extreme stresses where TPE can be dimensionally stable and not wrap, even in great temperature variations. In addition to this, the growing demand for lightweight plastics in this sector is further propelling the market growth.

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Regional – Segment Analysis:

Based on the region, Asia-Pacific region is anticipated to grow at a higher CAGR during the forecast period. China is one of the largest economies in this region in terms of GDP. The Chinese automotive industry is capturing the growing demand for vehicles both in domestic and foreign markets. In addition to this, the growing demand for SUVs and lightweight and fuel-efficient vehicles followed by the growing popularity of electric vehicles is supporting the market growth.

Top Market Players

Various notable players operating in the market, include Arkema, Asahi Kasei Corporation, BASF SE, Dow, Covestro AG, Huntsman International LLC, Teknor APEX Company, The Lubrizol Corporation, Tosh Corporation, and DuPont, among others.

Key Developments:

• • In 2020, Arkema acquired LIP Bygningsartikler AS (Denmark), one of the Danish leading tile adhesives, waterproofing systems, and floor preparation solution providers. Through this acquisition, the company aimed to strengthen the Arkema’s strategy to continuously grow its adhesives business.

Segments covered in the Report:

The global Thermoplastic Elastomer market has been segmented on the basis of Type, End Use Industry, and regions. Based on Type, the market is segmented into Styrenic Block Copolymer, Thermoplastic Polyurethane, Thermoplastic Polyolefins, Thermoplastic Vulcanizates, Copolyester Ether Elastomers, and Polyether Block Amide Elastomers. Based on End Use Industry, the market is segmented into Automotive, Building & Construction, Footwear, Wires & Cables, Medical, Engineering, and Others. 

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Key questions answered in this research report:

• • At what pace is global Thermoplastic Elastomer market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Thermoplastic Elastomer market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Thermoplastic Elastomer market?
  • Which Type generated maximum revenues in 2019 and identify the most promising Type during the forecast period?
  • What are the various End Use Industry areas of global Thermoplastic Elastomer market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Thermoplastic Elastomer Market by Type

• • Styrenic Block Copolymer
  • Thermoplastic Polyurethane
  • Thermoplastic Polyolefins
  • Thermoplastic Vulcanizates
  • Copolyester Ether Elastomers
  • Polyether Block Amide Elastomers

Global Thermoplastic Elastomer Market by End Use Industry

• • Automotive
  • Building & Construction
  • Footwear
  • Wires & Cables
  • Medical
  • Engineering
  • Others

Global Thermoplastic Elastomer Market by Region

• • North America Thermoplastic Elastomer Market (Option 1: As a part of the free 25% customization)
    • North America Thermoplastic Elastomer Market by Type
    • North America Thermoplastic Elastomer Market by End Use Industry
    • US Thermoplastic Elastomer Market All-Up
    • Canada Thermoplastic Elastomer Market All-Up
  • Europe Thermoplastic Elastomer Market (Option 2: As a part of the free 25% customization)
    • Europe Thermoplastic Elastomer Market by Type
    • Europe Thermoplastic Elastomer Market by End Use Industry
    • UK Thermoplastic Elastomer Market All-Up
    • Germany Thermoplastic Elastomer Market All-Up
    • France Thermoplastic Elastomer Market All-Up
    • Spain Thermoplastic Elastomer Market All-Up
    • Rest of Europe Thermoplastic Elastomer Market All-Up
  • Asia-Pacific Thermoplastic Elastomer Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Thermoplastic Elastomer Market by Type
    • Asia-Pacific Thermoplastic Elastomer Market by End Use Industry
    • China Thermoplastic Elastomer Market All-Up
    • India Thermoplastic Elastomer Market All-Up
    • Japan Thermoplastic Elastomer Market All-Up
    • Rest of APAC Thermoplastic Elastomer Market All-Up
  • RoW Thermoplastic Elastomer Market (Option 4: As a part of the free 25% customization)
    • RoW Thermoplastic Elastomer Market by Type
    • RoW Thermoplastic Elastomer Market by End Use Industry
    • Brazil Thermoplastic Elastomer Market All-Up
    • South Africa Thermoplastic Elastomer Market All-Up
    • Saudi Arabia Thermoplastic Elastomer Market All-Up
    • UAE Thermoplastic Elastomer Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Thermoplastic Elastomer Market All-Up

Major Players Operating in the Thermoplastic Elastomer (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Arkema
  • Asahi Kasei Corporation
  • BASF SE
  • Dow
  • Covestro AG
  • Huntsman International LLC
  • Teknor APEX Company
  • The Lubrizol Corporation
  • Tosh Corporation
  • DuPont