Press release
Thermoplastic Copolyester Elastomers Market Business Case and Industry Roadmap || Key Players: Tosoh Corporation, Samyang Corporation, LG Chem. Ltd., Chang-Chung Group, SK Chemicals, and Shinkong Group.
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 Fact.MR report tracks the thermoplastic copolyester elastomers market for the forecast period 2019-2027. The thermoplastic copolyester elastomers market is projected to register CAGR of 4.5% between 2019 and 2027, according to the report.
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Thermoplastic copolyester elastomers market witnessed moderate growth in 2018, with demand surpassing 170 thousand tons, according to Fact.MR’s latest study. Thermoplastic copolyester elastomers demand is likely to benefit from broader developments in the automotive industry, especially the growing focus on improving fuel efficiency.
Top 5 Players Account for Over 50% Share in Thermoplastic Copolyester Elastomers Market
Top players in the thermoplastic copolyester elastomers market are focusing on product differentiation and expanding production capacity. The leading players continue to focus on strengthening their position in Asia Pacific, based on the growing demand for fuel-efficient and lightweight vehicles.
The intense competition among the key players in thermoplastic copolyester elastomers market is resulting in value added product offering with increased investment in the research and development activities.
Market Structure
The report offers a segment-wise analysis of the thermoplastic copolyester elastomers market to identify growth opportunities across various regions. The report on the thermoplastic copolyester elastomers market is segmented on the basis of the application. On the basis of the application, the market is segmented into Automotive Air Ducts, CVJ Boots, Medical, Electrical (wires & cables), Consumer goods, Industrial, and Other application.
Volatility in raw material prices is likely to adversely affect the thermoplastic copolyester elastomers market in the future. This is likely to make it difficult for manufacturers to maintain regular supply for use in various industries. Fluctuating price structure of crude oil is directly impacting the overall production cost of the thermoplastic copolyester elastomers.
Variation in the exchange rate of key producers and exporters dealing in thermoplastic copolyester elastomers is also significantly impacting the development of the product. Rising crude oil prices are also likely to increase petrochemical costs along with the market price for plastic and other downstream chemicals.
North America is witnessing growing demand for thermoplastic copolyester elastomers in the automotive sector in manufacturing lightweight and fuel-efficient cars. Thermoplastic copolyester elastomers are finding significant applications in manufacturing hot charge air ducts and CVJ boots in automobiles.
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.
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.
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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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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