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Thermoplastic Elastomers Market Share, Size, Growth Trends, Top Major Key Players : Timco Rubber, Arkema, Huntsman International LLC, The Dow Chemical Company, RTP Company, Covestro AG, Kraiburg TPE GmbH & Co. KG and etc
Thermoplastic Elastomers Market Share, Thermoplastic Elastomers Market Size, Thermoplastic Elastomers Industry, Thermoplastic
Thermoplastic Elastomers Market are a special group of polymers that are flexible like vulcanized rubber and processible like thermoplastics. Shock absorption, easy sterilization, dimensional stability, chemical and thermal resistance, and flexibility are some of the important performance characteristics of TPEs. These elastomers can be processed by extrusion, injection molding, blow molding, and heat welding. TPE processing is rapid and highly economical as it does not require compounding or the addition of any reinforcing agents or stabilizers.
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Thermoplastic Elastomers Market Key Players:
Some of the prominent players in the global thermoplastic elastomers market are: Timco Rubber (US), Arkema (France), Huntsman International LLC (US), the Dow Chemical Company (US), RTP Company (US), Covestro AG (Germany), Kraiburg TPE GmbH & Co. KG (Germany), Tosoh Corporation (Japan), the Lubrizol Corporation (US), Teknor Apex (US), Kent Elastomer Products (US), Altana AG (Germany), JSR Corporation (Japan), and Elastron Kimya SAN. TİC. AŞ (Turkey).
Thermoplastic Elastomers Market Segmentation:
The global thermoplastic elastomers market has been segmented on the basis of product, end-use industry, and region.
By product, the global thermoplastic elastomers market has been classified as vulcanizate, styrenic block copolymer, polyurethane, polyamide, olefin, and others.
Automotive, building and construction, footwear, home appliances, healthcare, and others are the major end-use industry segments of the global thermoplastic elastomers market.
Thermoplastic Elastomers Market Regional Analysis:
Thermoplastic Elastomers Market has been studied with respect to five regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. Owing to the high product demand in the automotive and footwear industries, Asia-Pacific accounted for the largest share of the global thermoplastic elastomers market in 2018. Asia-Pacific is the most populated region and requires a large number of transportation and passenger vehicles. With the increase in automotive production, the demand for TPEs is likely to increase during the forecast period.
In addition, the use of TPEs in the footwear industry for the production of various types of soles, shoe platforms, wooden soles, and rubber boots is expected to further propel the growth of the thermoplastic elastomers market in the coming years. The major economies contributing to the growth of the regional market are China, India, Japan, and Indonesia.
North America and Europe are the other substantial markets for TPEs. North America accounted for the second-highest automobile production in 2018 due to the established automotive industry in the US. This is expected to boost product demand in the region during the review period. The advancements in the European automotive industry to increase the sustainability and efficiency of vehicles are expected to fuel product demand during the forecast period.
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