Thermoplastic Elastomers Market:
Growth opportunities in the Thermoplastic Elastomers Market look promising over the next six years. This is mainly due to increased consumer preference towards high-performance and lightweight passenger cars and their use in different applications.
Thermoplastic Elastomers Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The crucial driver responsible for the growth of the global thermoplastic elastomer market includes its surging consumption in various applications like construction, electronics, footwear, and consumer goods. Also, the increasing inclination of consumers towards low-weight and better-performing passenger cars has persuaded development in plastics. This has raised their consumption owing to the better physical and chemical features than thermoset plastics. The rising tendency to choose TPU & TPO as an alternative for ethylene propylene diene monomer (EPDM) in the construction material is strengthening the market share. Governments across various countries are emphasizing decreasing the carbon emissions imparted by automobiles. Th
The government of various countries is focusing on reducing carbon emissions produced by automobiles. The U.S. Environment Protection Agency (EPA) determined the guidelines and techniques related to controlling carbon emission for automotive vehicles as mentioned in the Clean Air Act, effective from October 2008. Therefore, the fuelling demand for fuel-efficient cars and industrial machinery is propelling the market growth. The elastomers are environment friendly and can be recycled, remodeled, and reshaped, thereby curbing wastage to a more considerable extent. Additionally, the unique features of TPE are persuading their implementation in several applications. Also, executive bodies, which include FDA, U.S. Pharmacopeia, are promoting the use of TPE for enhanced consumer health and safety. However, the excessive cost associated with TPE compared to traditional material is restricting the market growth. Also, the manufacturing procedures involve high investment and are a complicated process.
Regional Drivers
Based on the regional coverage, Asia-Pacific is predicted to expand at a higher CAGR during the forecast period. China is one of the leading nations in terms of GDP. The Chinese automotive industry is catching the demand for vehicles in domestic and foreign markets. Also, the accelerating demand for SUVs and lightweight and fuel-efficient vehicles accompanied by the growing prominence of electric vehicles is fuelling the market growth.
Thermoplastic Elastomers Market’s leading Manufacturers:
- Tosh Corporation
- Teknor APEX Company
- Covestro AG
- Asahi Kasei Corporation
- DuPont
- The Lubrizol Corporation
- Huntsman International LLC
- Dow
- Asahi Kasei Corporation
Thermoplastic Elastomers Market Segmentation:
Segmentation by Type
- Styrenic Block Copolymer
- Thermoplastic Polyurethane
- Thermoplastic Polyolefins
- Thermoplastic Vulcanizates
- Copolyester Ether Elastomers
- Polyether Block Amide Elastomers
Segmentation by End Use Industry
- Automotive
- Building & Construction
- Footwear
- Wires & Cables
- Medical
- Engineering
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business insights and market research reports for large and small & medium enterprises. Our detailed reports help the clients to make strategic business policies and achieve sustainable growth in the particular market domain. The company’s large team of seasoned analysts and industry experts with experience from different regions such as Asia-Pacific, Europe, North America, among others, provides a one-stop solution for the client. Our market research report has in-depth analysis, which includes refined forecasts, a bird’s eye view of the competitive landscape, key factors influencing the market growth, and various other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping our clients to stay ahead of the curve.
Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com