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Thermoplastic Copolyester Elastomers Market Likely to Showcase Increased Demand Motivated by Major Players during Assessment Period|| DowDuPont Inc., Celanese Corporation, DSM Engineering Plastics, Toyobo, Teijin Industries
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The report on the thermoplastic copolyester elastomers market offers actionable and valuable insights on the market along with the historical data and forecast. The report also covers important factors impacting the growth of the thermoplastic copolyester elastomers market. Market dynamics including drivers, key trends, growth opportunities, and challenges are also highlighted in the report on thermoplastic copolyester elastomers market.
The market overview is also provided on the thermoplastic copolyester elastomers market from the perspective of key regions and countries. The study also includes details on the key players in the thermoplastic copolyester elastomers market.
Increasing Application of Thermoplastic Copolyester Elastomers in Automotive Industry Creating Sustained Opportunities
Usage of thermoplastic copolyester elastomers is growing in the automotive industry, owing to their superior physical and chemical properties. The automotive industry is using thermoplastic copolyester elastomers on a large scale to manufacture automotive parts where resistance to chemical, heat and oil is required.
Thermoplastic copolyester elastomers are finding significant applications in automotive hot charge air ducts in advanced petrol and diesel engines that need to withstand high temperatures for a very long period. Further, Constant Velocity Joint (CVJ) boots are being produced on a large scale using thermoplastic copolyester elastomers as it is subject to wide range of temperatures.
Several regulatory bodies have introduced emission standards that are accelerating the usage of low-weight material to increase fuel efficiency and high-performance in the automotive industry. This, in turn, is driving the demand for thermoplastic copolyester elastomers.
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Thermoplastic Elastomers (TPE) Emerging as a Feasible Alternative in Healthcare Sector
Healthcare sector is moving away from polyvinyl chloride (PVC) and silicone rubber owing to mounting environmental and health concerns. Thermoplastic elastomers are emerging as a more sustainable alternative to thermoset rubber owing to their recyclability and cost-efficiency. TPEs are rapidly replacing rubber and PVC in medical devices as they are non-allergenic, thereby, eliminating concerns for individuals with latex sensitivity. These factors are fuelling adoption of TPEs in dental, surgical, and medical applications.
With technological advancements, TPEs have gained increased acceptance and improved performance in the medical sector. Overmolding, along with other technological advances, is creating opportunities for thermoplastic elastomers in healthcare applications including syringe plungers, orthopedics, face masks, needle shields, breathable bags, and other home-use medical devices.
Notable Developments
In 2017, Mitsubishi Chemical Corporation developed a new grade of thermoplastic copolyester elastomer (TPC) known as TEFABLOC™, providing scratch and oil resistance. The company also begun production of styrenic thermoplastic elastomer (TPS) at Mitsubishi Chemical Performance Polymers (Thailand) Co., Ltd in 2018.
Kidman Resources has signed an agreement with LG Chem Ltd. to supply lithium hydroxide. Kidman will supply 12,000 tons of lithium hydroxide a year to various chemicals companies for 10 years.
DowDuPont Transportation & Advanced Polymers is planning to increase production capacity at Shenzhen site. DowDuPont Specialty Products Division is also likely to invest nearly $42 million to install three new production lines, expected to be operational by the end of 2019.
LG Chem is planning to build a new facility for electric vehicle battery in Nanjing in China by 2020. The company also plans to invest around 2 trillion South Korean won on second car battery plant in China with production likely to begin in 2019.
The report provides detailed profiles of the key players in the thermoplastic copolyester elastomers market. Thorough research has been conducted on the leading players including DowDuPont Inc., Celanese Corporation, DSM Engineering Plastics, Toyobo, Teijin Industries, DIC Corporation, Mitsubishi Chemicals, Tosoh Corporation, Samyang Corporation, LG Chem. Ltd., Chang-Chung Group, SK Chemicals, and Shinkong Group.
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