The Global Thermoplastic Elastomers Market accounted for USD 17.05 billion in 2016 and is projected to grow at a CAGR of 5.6% during the forecast period of 2017 to 2024.
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Global Thermoplastic Elastomers Market, By Product Type (Styrenic Block Copolymers (TPE-S), Thermoplastic Olefins (TPE-O), Elastomeric Alloys (TPE-V or TPV), Thermoplastic Polyurethanes (TPU), Thermoplastic Copolyester, Thermoplastic Polyamides); Application (Automotive, Building & Construction, Electrical & Electronics, Household Appliances, Medical, Adhesives, Sealants & Coatings, Others) – Industry Trends and Forecast to 2024
The Global Thermoplastic Elastomers Market report consists of below pages:
- No of pages: 350
- No of Figures: 60
- No of Tables: 220
The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Thermoplastic elastomers are polymers that exhibit properties similar to thermoset rubber at room temperature and can be processed at high temperatures. These are known to be flexible and can be stretched repeatedly when heated.
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Thermoplastic elastomers are replacing plastics in a wide range of applications including automobiles, building & construction, electronics, and medical applications, among others.
The global thermoplastic elastomers market is highly fragmented with the presence of a large number of players across different regions. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Major Market Competitors:
Some of the major players in the thermoplastic elastomers market include:
- Arkema SA
- BASF SE
- The DOW Chemical Company
- Covestro AG
- Huntsman Corporation
- Evonik Industries AG
- Sinopec Group
- Teknor APEX Company
- Lubrizol Corporation
- Tosoh Corporation
- Lyondellbasell Industries N.V.
- Kraton Corporation
- Wanhua Chemical Group Co., Ltd.
- Advanced Elastomer Systems, L.P.
- TSRC Corporation
- Polyone Corporation and many more.
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The thermoplastic elastomers market is segmented on the basis of product type into styrenic block copolymers (TPE-S), thermoplastic olefins (TPE-O), elastomeric alloys (TPE-V or TPV), and thermoplastic polyurethanes (TPU), thermoplastic copolyester, thermoplastic polyamides. Thermoplastic olefins (TPE-O) are expected to grow at the highest CAGR over the forecast period.
On the basis of application, the market is segmented into automotive, building & construction, electrical & electronics, household appliances, medical, adhesives, sealants & coatings, and others. TPE is expected to witness the highest demand from the automotive sector over the forecast period.
On the basis of geography, the thermoplastic elastomers market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
In 2017, Asia-Pacific is expected to dominate the market.
Major Market Drivers:
- Growing automobile industry
- Growing demand for bio-based thermoplastic elastomers
- Growing application as a replacement for thermoset rubber
- Volatility in raw material prices globally
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