The Asia Pacific Thermoplastic Elastomers Market has a current value of $6.85 billion. The market is expected to grow at a CAGR of 7% during the forecast period, which is from 2017 to 2022.
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The Asia Pacific region will remain the largest market for TPEs through 2020, rising at an above average pace to account for nearly half of world demand. China, the world's biggest consumer of TPEs in terms of volume, will continue to see more than eight percent annual growth in demand during (2017 - 2022). Regional gains will also benefit from robust expansion in India and Southeast Asia, whereas growth in the Japanese market will remain sluggish.
The market is segmented and revenues are forecasted on the basis of major types of thermoplastic elastomers used in various industries such as automotive, building & construction, footwear, engineering, wire & cable, medical and others. Application of thermoplastic elastomers in the automotive industry is expected to occupy over 33% of the market during 2015 to 2020.
Medical and hygiene applications are currently showing the highest growth rate, followed by automotive and cable and wire.
Increasing R&D efforts and huge demand from the automotive sector, which finds TPEs useful in a myriad of applications, will make TPE highly resourceful.Regulations from the automotive, food, medical, packaging sectors help the growth of TPEs as they leave minimally extractable.
Growing segments such as bio TPEs are emerging commercially and will prove to be very effective in the industry due to the cleanliness of the bio material and harmless wastage.
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SPECIALITIES OF THIS REPORT
1) The report will be useful in gaining an exhaustive understanding of the regional market. It will also be of assistance in providing a comprehensive analysis of the major trends, innovations and associated prospects for market growth over the coming half a decade
2) The report will be an ideal source material for industry consultants, manufacturers and other interested and allied parties to gain a critical insight into the factors driving and restraining the market, in addition to opportunities offered.
3) The report contains a wide range of information about the leading market players and the major strategies adopted by them.
WHAT THE REPORT OFFERS
1) Market Definition along with identification of key drivers and restraints for the market.
2) Market analysis with region specific assessments and competition analysis on a global and regional scale.
3) Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
4) Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.
5) Identification and analysis of the Macro and Micro factors that affect the industry on both global and regional scale.
6) A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
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