Thermoplastic Elastomer (TPE) Market worth US$ 24199.85 Million 2018 with a CAGR of 5.12%

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Published Date: May 2023

The report "Thermoplastic Elastomer Market, By Product Type (Styrenic Block Copolymer, Thermoplastic Olefin, Elastomeric Polyurethane, Thermoplastic Copolyester, and Thermoplastic Polyamide), By Application (Automotive and Transportation, Building and Construction, Footwear, Electrical and Electronics, Medical, Household Appliances, HVAC, Adhesives, Sealants, and Coatings, and Other Applications), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030”.

Key Highlights:

In February 2020, Kraton Spotlights Sylvatraxx Tread Enhancement Additives at Tire Technology Expo.
In January 2020, BASF expands production capacity for Irganox 1520L in Pontecchio Marconi, Italy.

Analyst View:

A thermoplastic elastomer (TPE) has the properties and performance of a rubber, it is actually processed like Plastic and it is recyclable. The presence of the elastomeric component makes it soft and flexible such that it can be stretched repeatedly to at the least twice their original length at room temperature and can return to their approx. length of the original shape upon stress release. The soft touch of TPEs makes them appealing and beneficial for many markets and consumer goods. The TPEs that are soft can be easily be molded into hard thermoplastic materials, which would then be great for soft touch grips on products. TPEs can be perfectly used for sealing rings and on bottle cap liners. TPEs of other type can be used in automotive parts, home appliances, and wire and cable insulation, HVACs.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Thermoplastic Elastomer Market,), By Product Type (Styrenic Block Copolymer, Thermoplastic Olefin, Elastomeric Polyurethane, Thermoplastic Copolyester, and Thermoplastic Polyamide), By Application (Automotive and Transportation, Building and Construction, Footwear, Electrical and Electronics, Medical, Household Appliances, HVAC, Adhesives, Sealants, and Coatings, and Other Applications), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030”.

Key Market Insights from the report:

The global thermoplastic elastomer market accounted for US$ 24199.85 million in 2018 and is projected to register a moderate CAGR of 5.12% over the forecast period. The market report has been segmented on the basis of booking type, service type, vehicle type and region.

Based on product type, the global thermoplastic elastomer is segmented into styrenic block copolymer, thermoplastic olefin, elastomeric polyurethane, thermoplastic copolyester, and thermoplastic polyamide.
Based on application, automotive and transportation industry is projected to dominate the market over the forecast period as high-performance thermoplastic elastomers offer manufacturers the advantages of design and comparable strength of steel, which help in reducing the overall weight and controlling greenhouse gasses emissions.
Based on region, China dominated the Asia-Pacific TPE market. The Chinese automotive industry caters to the demand for vehicles, in both domestic and foreign markets. During the forecast period, the automotive production in the country is expected to be driven by the rising demand for SUVs, and lightweight and fuel-efficient vehicles, along with the increasing popularity of electric vehicles across the world

Competitive Landscape:

The prominent player operating in the global thermoplastic elastomer market includes includes BASF SE, Dow, LyondellBasell Industries Holdings B.V., Arkema Sa, LCY Chemical Corp., Covestro AG, China Petrochemical Corporation, Huntsman International LLC., PolyOne Corporation, Kraton Corporation, Exxon Mobil Corporation.

The market provides detailed information regarding industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included into the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces Analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period.