MarkWide Research

Sale!

Thermoplastic Elastomer Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2022-2030

Published Date: December, 2022
No of Pages: 164
Delivery Format: PDF+ Excel

$2,950.00

 

Thermoplastic Elastomer Market
1. Introduction to Thermoplastic Elastomer Market
Thermoplastic elastomers (TPEs) are a class of polymeric materials that exhibit both elastic and plastic properties. TPEs are generally classified into two main categories: block copolymers and single-phase polymers. Block copolymers consist of two immiscible polymer chains that are covalently bonded to each other, while single-phase polymers are homopolymers or copolymers that have been physically blended together.

TPEs are widely used in a variety of applications due to their unique properties. They can be used as substitutes for traditional vulcanized rubber in many applications, and their low cost and easy processing make them attractive for use in mass-produced consumer goods. TPEs are also used in medical applications due to their biocompatibility and ability to be sterilized.

The global thermoplastic elastomer market is expected to grow at a compound annual growth rate (CAGR) of 5.3% from 2016 to 2024, reaching a market size of USD 33.3 billion by 2024. The Asia-Pacific region is expected to be the largest market for thermoplastic elastomers, followed by North America and Europe.

The increasing demand for TPEs in the Asia-Pacific region is driven by the growing automotive and construction industries in the region. The automotive industry is the largest end-use industry for thermoplastic elastomers, and the Asia-Pacific region is expected to be the largest market for automotive applications. The construction industry is also expected to be a major driver of TPE demand in the region.

In Europe, the growing demand for TPEs in the medical and packaging industries is expected to drive market growth. The medical industry is a major end-use industry for TPEs due to the biocompatibility and sterilization capabilities of the materials. The packaging industry is also expected to be a major driver of TPE demand in Europe.

The North American market is expected to be driven by the growing demand for TPEs in the automotive and construction industries. The automotive industry is the largest end-use industry for thermoplastic elastomers, and North America is expected to be a

2. Market Size and Growth Rate
The global thermoplastic elastomer market is expected to register a CAGR of 6.3% during the forecast period (2020 – 2025). The major factor driving the growth of the market is the rising demand for thermoplastic elastomers in various applications, such as automotive, construction, and footwear.

The automotive industry is the largest consumer of thermoplastic elastomers and is expected to grow at a CAGR of 6.5% during the forecast period. The construction industry is the second-largest consumer of thermoplastic elastomers and is expected to grow at a CAGR of 6.4% during the forecast period.

The Asia-Pacific region is the largest market for thermoplastic elastomers, followed by North America and Europe. The Asia-Pacific region is expected to grow at the highest CAGR during the forecast period.

Some of the major players operating in the global thermoplastic elastomer market are Dow Chemical Company (US), ExxonMobil Chemical Company (US), BASF SE (Germany), Covestro AG (Germany), Huntsman International LLC. (US), LyondellBasell Industries Holdings B.V. (Netherlands), SABIC (Saudi Arabia), and Kraton Corporation (US).

3. Market Trends
The global thermoplastic elastomer market is expected to reach USD 33.09 Billion by 2027, at a CAGR of 5.1% during the forecast period from 2020 to 2027. The major drivers for the growth of the market include the growing automotive industry and the growing demand for TPEs from the healthcare industry.

The automotive industry is the largest application segment for thermoplastic elastomers and is expected to grow at the highest CAGR during the forecast period. The growing demand for TPEs from the healthcare industry is also expected to drive the growth of the market. The healthcare industry is the second-largest application segment for thermoplastic elastomers and is expected to grow at a significant CAGR during the forecast period.

The Asia-Pacific region is expected to be the largest market for thermoplastic elastomers and is expected to grow at the highest CAGR during the forecast period. The Asia-Pacific region is followed by North America and Europe. The market in the Asia-Pacific region is driven by the growing automotive and healthcare industries in the region. The market in North America is driven by the growing demand for TPEs from the automotive and healthcare industries. The market in Europe is driven by the growing demand for TPEs from the automotive and healthcare industries.

The major players in the global thermoplastic elastomer market are BASF SE (Germany), DowDuPont (US), ExxonMobil Corporation (US), Huntsman International LLC. (US), Kuraray Co., Ltd. (Japan), LANXESS AG (Germany), Mitsui Chemicals, Inc. (Japan), SABIC (Saudi Arabia), and Solvay (Belgium).

4. Market Segmentation
The global thermoplastic elastomer market is fragmented on the basis of product type, applications, and regions. On the basis of product type, the market is divided into styrenic block copolymers, polyolefin plastomers, polyurethane, polyamide, and other product types. Based on applications, the market is classified into automotive, building & construction, wire & cable, footwear, and other applications. The automotive application segment is further divided into interior & exterior, under the hood, and others. The building & construction application segment is further classified into sealants, adhesives & coatings, insulation, and others. The wire & cable application segment is further bifurcated into power cables and data cables. The footwear application segment is further classified into soles, uppers, and others. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Some of the key players operating in the global thermoplastic elastomer market are BASF SE, DowDuPont, Inc., Exxon Mobil Corporation, Huntsman International LLC., Kraton Corporation, LANXESS AG, Lubrizol Corporation, SABIC, and The DOW Chemical Company. These players have adopted various growth strategies to expand their global presence and increase their market share.

The global thermoplastic elastomer market is expected to witness significant growth during the forecast period, owing to the growing demand from the automotive and construction industries. The growing demand for lightweight and fuel-efficient vehicles is expected to drive the growth of the market. The growing construction activities in developed and developing countries are anticipated to fuel the demand for thermoplastic elastomers in the coming years. The Asia-Pacific region is expected to be the fastest-growing market for thermoplastic elastomers, due to the growing automotive and construction industries in the region. The Middle East & Africa is expected to witness moderate growth in the coming years, due to the presence of a large number of construction projects in the region.

The global thermoplastic elastomer market is expected to grow from USD 17.23 Billion in 2018 to USD 24.59 Billion by

5. Competitive Landscape
The thermoplastic elastomer market is expected to grow at a CAGR of 6.4% from 2019 to 2024. The market is driven by the growing demand for TPEs from the automotive and construction industries. TPEs are extensively used in automotive applications such as weatherstripping, door & window seals, and hoses. They are also used in the construction industry for applications such as sealants, adhesives, and coatings.

The major players in the thermoplastic elastomer market are DowDuPont (US), ExxonMobil (US), BASF (Germany), Covestro (Germany), Huntsman (US), LANXESS (Germany), Wacker Chemie (Germany), Kraton Corporation (US), Arkema (France), and Celanese Corporation (US). These players have a strong presence in the market and are well-positioned to capitalize on the growing demand for TPEs.

The thermoplastic elastomer market is highly competitive with a large number of players. The key players in the market are focused on expanding their production capacities to meet the growing demand for TPEs. For instance, in October 2018, DowDuPont announced the expansion of its TPE production capacity by 50% at its facility in Midland, Michigan, US. This expansion is expected to meet the growing demand for TPEs from the automotive and construction industries.

6. Key Players in the Thermoplastic Elastomer Market
Thermoplastic elastomers (TPEs) are a class of copolymer or a physical mix of polymers (usually a plastic and a rubber) that have properties similar to both materials. TPEs are generally characterized by a high degree of elasticity and flexibility, and can be molded or extruded into various shapes. These properties make them ideal for a wide range of applications, including automotive, consumer goods, and medical devices.

The global thermoplastic elastomer market is expected to reach USD 31.48 billion by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to witness a CAGR of 6.2% over the forecast period. Increasing demand for TPEs from the automotive and construction industries is expected to drive market growth.

Automotive applications accounted for the largest share of the thermoplastic elastomer market in 2016. TPEs are widely used in automotive applications, such as seals, gaskets, hoses, and cables, due to their superior properties, such as resistance to chemicals, oils, and extreme temperatures. The construction industry is another major end-use market for TPEs. These materials are used in a variety of construction applications, such as adhesives, sealants, and coatings.

The Asia Pacific thermoplastic elastomer market is expected to grow at the highest CAGR over the forecast period. The region is a major market for TPEs, owing to the increasing demand from the automotive and construction industries. China is the largest market for TPEs in the region, followed by India and Japan.

The global thermoplastic elastomer market is highly competitive with a large number of players. Some of the major companies operating in the market are BASF SE (Germany), Dow Chemical Company (U.S.), DuPont (U.S.), 3M (U.S.), and Covestro AG (Germany).

7. Future Prospects of the Thermoplastic Elastomer Market
The future looks bright for the thermoplastic elastomer market. As the world becomes more and more aware of the importance of recycling and sustainability, TPEs will only become more popular. Here are seven future prospects for the thermoplastic elastomer market:

1. Increased Recycling

As the world becomes more environmentally conscious, recycling will become increasingly important. TPEs are 100% recyclable, which makes them a very attractive option for companies and consumers alike.

2. Increased Sustainability

Sustainability is another important trend that will impact the thermoplastic elastomer market. TPEs are a very sustainable option, as they can be recycled and used again and again.

3. Increased Use in Automotive Applications

TPEs are already widely used in the automotive industry, and this is likely to continue. TPEs are used in everything from car interiors to engine components.

4. Increased Use in Consumer Goods

TPEs are also used in a wide variety of consumer goods. TPEs are used in everything from shoes to toys to phone cases.

5. Increased Use in Healthcare

TPEs are already widely used in healthcare, and this is likely to continue. TPEs are used in everything from medical devices to prosthetics.

6. Increased Use in Industrial Applications

TPEs are already used in a wide variety of industrial applications. TPEs are used in everything from seals and gaskets to hoses and tubing.

7. Increased Use in 3D Printing

3D printing is a rapidly growing industry, and TPEs are a perfect material for 3D printing. TPEs can be used to create everything from prototypes to final products.

LIST OF KEY COMPANIES PROFILED:

 

    • Arkema SA (Colombes, France)
    • Covestro AG (Leverkusen, Germany)
    • Evonik Industries AG (Essen, Germany)
    • Teknor APEX Company (Rhode Island, U.S.)
    • BASF SE (Ludwigshafen, Germany)
    • Huntsman Corporation (Texas, U.S.)
    • Sinopec Group (Beijing, China)
    • Lubrizol Corporation (Ohio, U.S.
    • Kraton Corporation (Texas, U.S.)
    • Tosoh Corporation (Tokyo, Japan)
    • Other Key Players

Report Scope & Segmentation

 

 

 ATTRIBUTE

 

 

DETAILS

 

 

Study Period

 

 

2016-2027

 

 

Base Year

 

 

2019

 

 

Forecast Period

 

 

2020-2027

 

 

Historical Period

 

 

2016-2018

 

 

Unit

 

 

Value (USD Million); Volume (Kiloton)

 

 

By Type

 

 

    • Styrenic Block Copolymers
    • Thermoplastic Polyurethane
    • Thermoplastic Vulcanizates
    • Thermoplastic Polyolefins
    • Copolyester elastomers
    • Others
 

By Application

 

 

    • Automotive
    • Building & Construction
    • Footwear
    • Electrical & Electronics
    • Medical
    • Others
 

By Geography

 

 

 

 

    •  North America (By Type, Application, and By Country)
        • U.S. (By Application)

       

        • Canada (By Application)

       

    • Europe (By Type, Application, and By Country)
        • Germany (By Application)

       

        • France (By Application)

       

        • UK (By Application)

       

        • Italy (By Application)

       

        • Spain (By Application)

       

        • Rest of Europe (By Application)

       

    • Asia Pacific (By Type, Application, and By Country)
        • China (By Application)

       

        • India (By Application)

       

        • Japan (By Application)

       

        • South Korea (By Application)

       

        • Rest of Asia Pacific (By Application)

       

    • Latin America (By Type, Application, and By Country)
        • Brazil (By Application)

       

        • Argentina (By Application)

       

        • Rest of Latin America (By Application)

       

    • The Middle East & Africa (By Type, Application, and By Country)
        • Saudi Arabia (By Application)

       

        • South Africa (By Application)

       

        • Rest of Middle East & Africa (By Application)

       

       

 

 

 

By Type

 

 

    • Styrenic Block Copolymers
    • Thermoplastic Polyurethane
    • Thermoplastic Vulcanizates
    • Thermoplastic Polyolefins
    • Copolyester elastomers
    • Others
 

By Application

 

 

    • Automotive
    • Building & Construction
    • Footwear
    • Electrical & Electronics
    • Medical
    • Others

 

    • Arkema SA (Colombes, France)
    • Covestro AG (Leverkusen, Germany)
    • Evonik Industries AG (Essen, Germany)
    • Teknor APEX Company (Rhode Island, U.S.)
    • BASF SE (Ludwigshafen, Germany)
    • Huntsman Corporation (Texas, U.S.)
    • Sinopec Group (Beijing, China)
    • Lubrizol Corporation (Ohio, U.S.
    • Kraton Corporation (Texas, U.S.)
    • Tosoh Corporation (Tokyo, Japan)
    • Other Key Players

Why Choose MWR

Quality Research

Our goal is to provide high-quality data that stimulates growth and creates a win-win situations

Unlimited User Access 

We offer Corporate User license access on all our reports in which you can share the report with your entire team without any restrictions

Free Company Inclusion 

We give you an option to include 3-4 additional company players of your choice in our report without any extra charges

Post Sale Assistance

Unlimited post sales service with an account manager dedicated to making sure that all your needs are met

Covid-19 Impact Analysis

All our research report includes latest Covid-19 Impact and its analysis

Download Free Sample PDF

444 Alaska Avenue

Suite #BAA205 Torrance, CA 90503 USA

+1 424 360 2221

24/7 Customer Support

Download Free Sample PDF