Thermoplastic Elastomers Market Growth Analysis, Development Prospects, and Business Improvement Factors by 2031 | DowDuPont Inc., Arkema Group, Asahi Kasei Corporation

Market Overview:

Thermoplastic elastomers are materials that have both the properties of rubber elasticity and plastic processability. They are used in automotive, construction, medical and various other industries due to advantages such as flexibility, durability and resistance to oils and chemicals.

Market Dynamics:

The growth of the thermoplastic elastomers market is driven by growing demand from the automotive industry where they are used in components such as hoses, gaskets and seals due to requirements of flexibility, durability and resistance to heat and oils. Thermoplastic elastomers find increased application in automotive interiors, exteriors, under-the-hood applications and electrical components. Moreover, rapid growth of the construction industry globally is further fueling the demand for thermoplastic elastomers as they are used in roofing, siding, pipes, cables and others owing to durability in various weather conditions.

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Major market players included in this report are:

★ DowDuPont Inc.
★ Arkema Group
★ Asahi Kasei Corporation
★ PolyOne Corporation
★ Elastron Kimya SA
★ Kraton Corporation
★ Evonik Industries
★ Covestro AG.
★ Lubrizol Corporation
★ Huntsman Corporation
★ Tosh Corporation
★ Teknor Apex Company

*Disclaimer: Major Players are sorted in no particular order.

Detailed Segmentation:

By Product Type :
✦ Styrenic Block Co-polymers
✦ Co-polyester
✦ Polyurethane
✦ Polyamide
✦ Thermoplastic/Elastomers Blend & Alloy
✦ Polyolefin
✦ Vulcanizates
✦ Reactor-made Thermoplastic Polyolefin Elastomers (R-TPO)
✦ Polyolefin Plastomers (POP's)
✦ Polyolefin Elastomers (POE's)

By Application :
✦ Automotive Parts
✦ Wires and Cables
✦ Coating
✦ Adhesive & Sealant
✦ Paving & Roofing
✦ Housewares & Appliances
✦ Others

By End-use Industry:
✦ Building & Construction
✦ Automotive
✦ Packaging
✦ Footwear
✦ Consumer Electronics
✦ Others

Regional Analysis:

North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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✦ Increasing Demand from Automotive Industry

The global thermoplastic elastomers market is being driven significantly by increasing demand from the automotive industry. Thermoplastic elastomers are widely used in manufacturing of automotive components such as bumpers, door panels, seals, gaskets due to their attributes like resistance to heat, chemicals and weathering. With the growing automotive production globally on account of rising vehicle ownership, demand for thermoplastic elastomers from this industry has also increased substantially. Furthermore, continuous advancements in automotive technology in areas like lightweighting is further fuelling consumption of engineering plastics like thermoplastic elastomers.

✦ Rising Usage in Medical Industry Applications

Another key factor propelling the thermoplastic elastomers market growth is increasing utilization in medical industry applications. Thermoplastic elastomers find wide application in manufacturing of various medical devices, implants and equipment due to their biocompatibility. Some common uses include manufacture of plastics for syringes, tubing, catheter components, drug delivery systems. With rising health awareness and growing elderly population base globally, demand for medical devices and equipment has surged which isaugmented thermoplastic elastomers consumption.

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✦ Environmental Regulations can Pose a Challenge

Stringent environmental regulations, particularly in Europe and North America related to usage of plastic materials is a major factor restraining the thermoplastic elastomers market. Regulators are imposing limits on certain types of plastic including thermoplastic elastomers being used in packaging and consumer products considering their harms. Various bans and policies encouraging reuse and recycling are challenging plastics makers. Manufacturers have to invest in new technologies and materials to comply with the sustainability norms while convincing policymakers about benefits of engineered plastics. This can negatively impact the thermoplastic elastomers demand pattern in coming years.

✦ Growing Infrastructure Development Projects

One of the key opportunities for thermoplastic elastomers market expansion lies in growing infrastructure development projects worldwide. Thermoplastic elastomers are increasingly being utilized in construction industry for applications like sealing, roofing, foundation systems, window/door profiles, insulation. Mega infrastructure projects in developing regions focusing on building transport, energy and residential infrastructure will augment consumption. For example, China's multi-billion dollar Belt and Road Initiative will likely drive infrastructure construction across several nations bolstering prospects.

✦ Rising Adoption of Bio-Based and Recycled Thermoplastic Elastomers

With sustainability gaining prominence, transition towards environment friendly materials is a crucial thermoplastic elastomers market trend. Major players are investing in R&D and production of bio-based and recycled thermoplastic elastomers using sugarcane waste, vegetable oils etc. to reduce carbon footprint. Some emerging applications where these green materials are finding acceptance include medical, automotive, footwear. Policy push for circular economy and brand commitments to employ recycled content are encouraging brand owners to procure such sustainable thermoplastic elastomers. This shifts promises to reshaped market dynamics in upcoming years.

Key Questions

• How much revenue will the global Thermoplastic Elastomers Market generate by the end of the forecast period?

• What regions currently contribute the maximum share to the overall Thermoplastic Elastomers Market?

• What are the indicators expected to drive the global Thermoplastic Elastomers Market?

• Which region is likely to be a lucrative market during the forecast period?

• What are the essential strategies incorporated by key stakeholders in the global Thermoplastic Elastomers Market to expand their geographical presence?

• What are the major advancements witnessed in the global Thermoplastic Elastomers Market?

• This report answers these questions and more about the global Thermoplastic Elastomers Market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.

Table Of Content

Chapter No. 1 Introduction

1.1. Report Description

1.1.1. Purpose of the Report

1.1.2. USP & Key Offerings

1.2. Key Benefits for Stakeholders

1.3. Target Audience

1.4. Report Scope

Chapter No. 2 Executive Summary

2.1. Key Findings

2.1.1. Top Investment Pockets

2.1.1.1. Market Attractiveness Analysis, By Type

2.1.1.2. Market Attractiveness Analysis, By End Use

2.1.1.3. Market Attractiveness Analysis, By Region

2.2. Market Snapshot

2.3. Global Thermoplastic Elastomers Market, 2018 - 2022 (US$ Million)

2.4. Insights from Primary Respondents

Chapter No. 3 COVID-19 Impact Analysis

3.1. Impact Assessment of COVID-19 Pandemic, By Region

3.1.1. North America

3.1.2. Europe

3.1.3. Asia Pacific

3.1.4. Latin America

3.1.5. The Middle East and Africa

Chapter No. 4: Company Profiles

4.1 Company Overview
4.2 Financial elements
4.3 Product Landscape
4.4 SWOT Analysis
4.5 Systematic Outlook

Chapter No. 5: Assumptions and Acronyms

Chapter No. 6: Research Methodology

Chapter No. 7: Contact (Continue . . .)

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