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Unveiling the Future: Exploring the Comprehensive Insights of the Thermoplastic Elastomer Treatment Market || China Petroleum & Chemical Corporation, ExxonMobil Chemical Company, BASF SE
Thermoplastic Elastomer Market
The Business Research Company's Thermoplastic Elastomer Global Market Report 2023 identifies the increasing demand for automotive components manufacturing is the major driver for the thermoplastic elastomer market's growth in the forecast period. Automotive component manufacturing refers to the process of producing various parts and components that are used in the manufacturing and assembly of automobiles. These components utilize thermoplastic elastomer materials for a variety of applications. Thermoplastic elastomers offer a combination of flexibility, durability, and ease of processing, making them suitable for different automotive component requirements. For instance, in March 2023, according to Economic Times, an Indian-based business newspaper, the automotive components industry in India is projected to grow by around 10-15% and is expected to experience significant growth in the fiscal year 2023-24.
The global thermoplastic elastomers market size is expected to grow from $25.83 billion in 2022 to $27.04 billion in 2023 at a compound annual growth rate (CAGR) of 6.37%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of thermoplastic elastomers market is expected to reach $35.12 billion in 2027 at a CAGR of 6.76%.
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Major competitors in the thermoplastic elastomer market are China Petroleum & Chemical Corporation, ExxonMobil Chemical Company, BASF SE, Asahi Kasei Corporation, Covestro AG, DuPont de Nemours Inc., Arkema S.A., Huntsman Corporation.
A key trend in the thermoplastic elastomer market includes product innovations. Companies operating in the thermoplastic elastomer market are adopting new product innovations to sustain their position in the market. For instance, in April 2022, DuPont, a US-based chemical company introduced a new line of extruded pharma tubing called DuPont Liveo Pharma thermoplastic elastomer tubing. This launch represents a significant milestone for the Liveo brand, as it expands its product offerings to include thermoplastic elastomer technology for fluid transport and single-use bioprocessing applications. Liveo pharma thermoplastic elastomer tubing is specifically designed for use in biopharmaceutical processes.
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The thermoplastic elastomer market is segmented -
• By Type: Thermoplastic Polyurethane (TPU), Styrenic Block Copolymer (TPE-S), Thermoplastic Vulcanizates, Elastomeric Alloys, Thermoplastic Copolyester, Other Types
• By Material: Poly Styrenes, Poly Olefins, Poly Ether Imides, Poly Urethanes, Poly Esters, Poly Amides
• By Application: Automotive, Building And Construction, Footwear, Wire And Cables, Medical, Engineering, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the thermoplastic elastomer market.
The Business Research Company's "Global Thermoplastic Elastomer Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Thermoplastic Elastomer Market Include:
1. Executive Summary
2. Thermoplastic Elastomer Market Characteristics
3. Thermoplastic Elastomer Market Trends And Strategies
4. Thermoplastic Elastomer Market - Macro Economic Scenario
5. Thermoplastic Elastomer Market Size And Growth
……………
27. Thermoplastic Elastomer Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Thermoplastic Elastomer Market
29. Thermoplastic Elastomer Market Future Outlook And Potential Analysis
30. Appendix
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