Thermoplastic Elastomers (TPE) Research:CAGR of 4.8% during the forecast period

QY Research Inc. (Global Market Report Research Publisher) announces the release of 2025 latest report "Thermoplastic Elastomer Tubing (TPE)- Global Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031". Based on current situation and impact historical analysis (2020-2024) and forecast calculations (2025-2031), this report provides a comprehensive analysis of the global Wire Drawing Dies market, including market size, share, demand, industry development status, and forecasts for the next few years.

The global market for Thermoplastic Elastomer Tubing (TPE) was estimated to be worth US$ million in 2024 and is forecast to a readjusted size of US$ million by 2031 with a CAGR of %during the forecast period 2025-2031.

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Thermoplastic Elastomers (TPE) Market Summary
Thermoplastic elastomers (TPE), sometimes referred to as thermoplastic rubbers, are a class of copolymers or a physical mix of polymers (usually a plastic and a rubber) that consist of materials with both thermoplastic and elastomeric properties. While most elastomers are thermosets, thermoplastics are in contrast relatively easy to use in manufacturing, for example, by injection molding. Thermoplastic elastomers show advantages typical of both rubbery materials and plastic materials. The benefit of using thermoplastic elastomers is the ability to stretch to moderate elongations and return to its near original shape creating a longer life and better physical range than other materials.The principal difference between thermoset elastomers and thermoplastic elastomers is the type of cross-linking bond in their structures. In fact, crosslinking is a critical structural factor which imparts high elastic properties.The thermoplastic elastomer is classified according to the type of hard segment in the structure, which can be classified into Thermoplastic styrenic elastomers (TPE-S, also known as TPS or SBC), Thermoplastic olefinic elastomers (TPO, TPV), Thermoplastic Polyurethanes (TPU), Thermoplastic polyester elastomer (TPEE), thermoplastic polyamide elastomer (TPAE), vinyl chloride-based thermoplastic elastomer (TPVC), etc.
According to the new market research report "Global Thermoplastic Elastomers (TPE) Market Report 2025-2031", published by QYResearch, the global Thermoplastic Elastomers (TPE) market size is projected to reach USD 25.19 billion by 2031, at a CAGR of 4.8% during the forecast period.
Figure. Global Thermoplastic Elastomers (TPE) Market Size (US$ Million), 2020-2031
Thermoplastic Elastomers (TPE)
Above data is based on report from QYResearch: Global Thermoplastic Elastomers (TPE) Market Report 2024-2031 (published in 2024). If you need the latest data, plaese contact QYResearch.
Figure. Global Thermoplastic Elastomers (TPE) Top 21 Players Ranking and Market Share (Ranking is based on the revenue of 2024, continually updated)
Thermoplastic Elastomers (TPE)
Above data is based on report from QYResearch: Global Thermoplastic Elastomers (TPE) Market Report 2024-2031 (published in 2024). If you need the latest data, plaese contact QYResearch.
According to QYResearch Top Players Research Center, the global key manufacturers of Thermoplastic Elastomers (TPE) include Kraton Polymers, Sinopec, LCY Technology Corp, Dynasol, Celanese (ExxonMobil), Asahi Chemical, HEXPOL, LG Chem, INEOS Styrolution, Kumho Petrochemical, etc. In 2024, the global top 10 players had a share approximately 30.0% in terms of revenue.
Figure. Thermoplastic Elastomers (TPE), Global Market Size, Split by Product Segment
Thermoplastic Elastomers (TPE)

Based on or includes research from QYResearch: Global Thermoplastic Elastomers (TPE) Market Report 2024-2031.
In terms of product type, currently Thermoplastic Olefinic Elastomers (TPOs) is the largest segment, hold a share of 43.8%.

In terms of product application, currently Building & Construction is the largest segment, hold a share of 47.0%.

Market Drivers:
From the demand point of view, the international market has a strong demand for TPE, especially in high-end application fields such as automobiles and high-speed rail. At the same time, the demand for TPE in the fields of construction, industrial manufacturing, electronics and electrical, consumer goods, etc. has also maintained a high growth trend.
The industrial cluster effect is more obvious. With the accumulation of administrative management experience and market experience of the government and associations, the industrial cluster effect of the TPE industry will be more obvious in the future, and the location economic advantages will be more prominent, promoting industrial transformation and the development of the entire industrial chain.
The industry access system is constantly improving. In the future, the TPE industry will formulate policies and regulations for fair competition and establish an industry access system based on quality rather than production. At the same time, give full play to the role of associations and quality inspection departments to support TPE production enterprises.

Restraint:
Fluctuations in crude oil prices have a significant impact on the price of thermoplastic elastomers (TPE). Since the main raw materials such as benzene, ethylene and propylene are generally derived from crude oil derivatives, any fluctuations in crude oil prices will significantly affect their pricing.
TPEE, TPU, and TPV have certain similarities in performance, so there is a certain competition in the downstream field. For example, the main application of TPEE in the automotive industry is dust covers. Since TPV can also meet its basic needs, the two are competing products.
For example, the process control factors of TPEE are complex, and the esterification process conditions are the current synthesis difficulties. The most commonly used TPEE synthesis process in industry is the direct esterification process using PTA as raw material. Since the esterification and polycondensation steps of TPEE are both reversible reactions, and by-products such as tetrahydrofuran and methanol are produced during the production process, it is necessary to strictly control the reaction temperature, reaction time, and catalyst dosage, and to promptly treat the by-product methanol. The appropriate reaction conditions are relatively demanding and the process requirements are high.
The manufacturing process of TPE requires huge investment and is more complicated than the manufacturing process of traditional materials such as polyethylene, PVC, rubber and polyurethane. Manufacturing equipment operates at high temperatures and has a high level of technical expertise to manufacture TPE. Huge investments and complex manufacturing processes increase the cost of TPE. The high production cost of TPE restricts its large-scale use, mainly for high-end applications. For example, composite grades of polyethylene, polypropylene, acrylonitrile butadiene styrene, and polyurethane are developed to have similar properties to TPE and are priced lower than TPE. This has created strong competition for TPE in a few end-use industries such as industrial machinery, construction, and electronics.

Trend:
Asia Pacific Thermoplastic Elastomer (TPE) Market Becomes the Largest Consumer Market. China, India, and Japan are the major consumer regions in Asia Pacific. The rapid growth of the construction and automotive industries in China and India and the increase in the production of footwear and electronics in Southeast Asia are expected to drive further demand for TPE in Asia Pacific during the forecast period.
Styrene Block Copolymers (SBCs) are used in various applications in the medical field, such as medical bottle stoppers, IV bags, IV tubes, IV bottles, IV drips, IV connectors, comfort bedding, films, and orthopedic and respiratory equipment. Properties such as high transparency, flexibility, good mechanical strength, anti-kink, softness, and excellent UV and chemical resistance are driving the demand for styrene block copolymers in medical applications.
Thermoplastic elastomers are a resource-saving and sustainable "green" polymer material. They are gradually becoming an environmentally friendly new material to replace traditional rubber. The market is hot and belongs to the category of new chemical materials that my country is accelerating the development of. They provide various advantages in terms of physical properties and characteristics, such as chemical resistance, UV resistance, oxidation resistance, and provide a soft touch to the material. These properties are increasingly driving rubber and traditional plastic materials to be replaced by TPE in their respective applications.
Bio-based TPE is made from renewable resources such as plant oils and fatty acids. It offers equal or even better performance than traditional TPE and is mainly used in the electronics, sporting goods, and footwear industries. The manufacturing of bio-based TPE improves its biodegradability and reduces the use of non-renewable resources. The continued innovation and commercialization of bio-based TPE is creating new opportunities for industry players. In addition, many synthetic TPE manufacturers have shifted their focus to developing sustainable and environmentally friendly products.

The report provides a detailed analysis of the market size, growth potential, and key trends for each segment. Through detailed analysis, industry players can identify profit opportunities, develop strategies for specific customer segments, and allocate resources effectively.

The Thermoplastic Elastomer Tubing (TPE) market is segmented as below:
By Company
Saint-Gobain
DuPont
Raumedic AG
Nordson
Watson-Marlow
Sartorius
Freudenberg Medical
TekniPlex
Flexan
Kent Elastomer Products
AP Technologies
Microspec Corporation
PBS Plastics

Segment by Type
Two-layer
Multi-layer

Segment by Application
Pharmaceutical
Biotechnological Medical
Food & Beverage
Other

Each chapter of the report provides detailed information for readers to further understand the Thermoplastic Elastomer Tubing (TPE) market:

Chapter 1: Introduces the report scope of the Thermoplastic Elastomer Tubing (TPE) report, global total market size (valve, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry. (2020-2031)
Chapter 2: Detailed analysis of Thermoplastic Elastomer Tubing (TPE) manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc. (2020-2025)
Chapter 3: Provides the analysis of various Thermoplastic Elastomer Tubing (TPE) market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments. (2020-2031)
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.(2020-2031)
Chapter 5: Sales, revenue of Thermoplastic Elastomer Tubing (TPE) in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world..(2020-2031)
Chapter 6: Sales, revenue of Thermoplastic Elastomer Tubing (TPE) in country level. It provides sigmate data by Type, and by Application for each country/region.(2020-2031)
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc. (2020-2025)
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.

Benefits of purchasing QYResearch report:

Competitive Analysis: QYResearch provides in-depth Thermoplastic Elastomer Tubing (TPE) competitive analysis, including information on key company profiles, new entrants, acquisitions, mergers, large market shear, opportunities, and challenges. These analyses provide clients with a comprehensive understanding of market conditions and competitive dynamics, enabling them to develop effective market strategies and maintain their competitive edge.

Industry Analysis: QYResearch provides Thermoplastic Elastomer Tubing (TPE) comprehensive industry data and trend analysis, including raw material analysis, market application analysis, product type analysis, market demand analysis, market supply analysis, downstream market analysis, and supply chain analysis.

and trend analysis. These analyses help clients understand the direction of industry development and make informed business decisions.

Market Size: QYResearch provides Thermoplastic Elastomer Tubing (TPE) market size analysis, including capacity, production, sales, production value, price, cost, and profit analysis. This data helps clients understand market size and development potential, and is an important reference for business development.

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