Thermoplastic Elastomers Market to See Booming Growth| TPE Industry Size, Current and Future Trends Forecast 2018 - 2026

Thermoplastic elastomers come with physical properties that belong to both rubber and thermoplastics, thereby making them flexible and soft. Thermoplastic elastomers are treated with the techniques of general thermoplastic, for instance blow molding, injection molding, and extrusion. Thermoplastic elastomers are converted into plastics when it is exposed to heat and becomes elastic when it cools down.

The key end use industries for thermoplastic elastomers are consumer electronics, medical and food, consumer goods, construction, and automotive. One of the key factors working in favor of the global thermoplastic elastomers market is its increased use in the automotive industry.  

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E.I. du Pont de Nemours and Company, KRATON Corporation, Exxon Mobil Corporation, Celenese Corporation, BASF SE, and Arkema Group are some names to reckon with in the global thermoplastic elastomers market.

Asia Pacific to Gain Prominence Due to High Demand from End Use Industries

Considering the segmentation based on regions, the global thermoplastic elastomers market is split into the key regions of Asia Pacific, Middle East and Africa, Europe, Latin America, and North America. These regional classifications are likely to provide a glimpse of the local market at a micro level.

Asia Pacific is estimated to be one of the leading regions in the global thermoplastic elastomers market over the assessment tenure. High demands from various end use industries like footwear industries, building and construction, and automotive is likely to encourage growth of the global thermoplastic elastomers market. India and China are two significant regions for the Asia Pacific thermoplastic elastomers market that contribute substantially for the growth of the market in forthcoming years.

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Region
North America
Europe
Middle East and Africa
Asia Pacific
Latin America

Key Takeaways

Inclusive analysis of trends in the global thermoplastic elastomers market from 2017 to 2026 to identify growth opportunities and analyze market developments

Comprehensive analysis with respect to price trends that are expected to impact the outlook for the global thermoplastic elastomers market between 2018 and 2026

Insights into growth opportunities for various stakeholders in the value chain and detailed competition landscape of players dominating the market to help understand the competition level

Porters’ five forces analysis that highlights potency of buyers and suppliers and enables stakeholders to make profit-oriented business decisions

Leading members are:

Key players operating in the global thermoplastic elastomers market include Exxon Mobil Corporation, Covestro, Huntsman Corporation, BASF SE, E.I. du Pont de Nemours and Company, Celenese Corporation, PolyOne Corporation, Arkema Group, SABIC, and KRATON Corporation. Manufacturers are striving to produce thermoplastic elastomers with good sealing performance, reduced cost, high resistance to heat and chemicals, and reduced weight.

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Increased Demand for Automotive Industry to Propel Growth of the Market

The global thermoplastic elastomers market is estimated to ride high on the ability of the product to be customized as per the specific needs of each medical application. Medical devices are often exposed to a wide range of fluids and liquids that lessen effectiveness of this type of devices. In an effort to avert this, manufacturers of medical equipment opt for use of thermoplastic elastomer materials over other materials such as phthalate, PVC, and latex-based materials.

Thermoplastic elastomers are highly resistant to various chemicals, which escalates their increased uptake.  Such preferences open up new opportunities of growth for the global thermoplastic elastomers market during the period of review, 2018 to 2026.

In addition, thermoplastic elastomers find use in prosthetic cushions, caps, seals, tubing, closures, anti-slip surfaces or handles, dental and medical hoods, caps, and many more. Such wide application of thermoplastic elastomers is likely to offer copious growth opportunities for the global thermoplastic elastomers market in forthcoming years.

In addition, automotive industry is estimated to generate considerable opportunity for the expansion of the global thermoplastic elastomers market in years to come. Owing to its versatility, ease of processing, and lightweight properties make it suitable for use in the automotive industry.

The global Thermoplastic Elastomers Market is segmented based on:

Type
Block Copolymers
Blends

End Use
Automotive
Building and Construction
Medical
Consumer Goods
Sporting Goods
Toys

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Attractive properties of thermoplastic elastomers such as weather resistance, oil and grease resistance, abrasion resistance, and vibration damping make manufacturers of various end-products rely on these elastomers. Rise in population and increase in the income of the middle class in developing economies are driving the global thermoplastic elastomers market.

Increase in sales of automobiles in developing economies such as China and India and the presence of global auto-manufacturers such as Toyota, Mitsubishi, and Nissan in Japan are likely to propel the demand for thermoplastic elastomers in Asia Pacific during the forecast period.

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