Expanded Thermoplastic elastomers (TPE) Market trends research and projections for 2016-2023
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Thermoplastic elastomers (TPE) Market size is mainly driven by the major construction applications including commercial, industrial, residential and office buildings. Innovations and modern technologies have created a new space for durable and high-performance cladding systems.
Global Thermoplastic elastomers (TPE) Market size was estimated at 2.07 million tons in 2014 and is likely to exceed 3.1 million tons by 2023 growing with an expected CAGR of over 5.5%. Super absorbent polymer market revenue is likely to be valued at over USD 11 billion by 2023.
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Global synthetic thermoplastic elastomers (TPE) market size was estimated at over 4 million tons in 2015 and is likely to witness gains with an estimated CAGR of more than 4.5% up to 2023. Thermoplastic elastomers market revenue is likely to be valued at USD 19.76 billion by 2023.
Asia Pacific was the leading region and accounted for more than 40% of the total demand in 2014. Japan, China and India thermoplastic elastomers market dominated Asia Pacific and accounted for more than 85% of the total demand in 2015. Shift of footwear industries to Southeast Asian countries such as Vietnam coupled with growth of automotive & construction industry in India and China is likely to drive regional demand.
Reasons to Buy This Report
1. Super Thermoplastic elastomers (TPE) Market size & forecast by product & application
2. Growth drivers, pitfalls & industry challenges
3. Key Thermoplastic elastomers (TPE) Market growth opportunities & emerging business
4. Competitive benchmarking with market share analysis and company profiles
Office buildings dominated the Thermoplastic elastomers (TPE) Market size over the forecast timeframe. Stainless steel, anodized aluminum, terracotta, fiber cement, composite and glass materials are used in these systems to protect the buildings. Steel & glass facades and glazed walling systems are often used in multi-storied office buildings to provide natural lightning & shading, weather-tightness and thermal insulation which may drive the industry growth.
Increase in lightweight plastics demand for automobile component manufacturing is likely to drive TPE market over the forecast period. Global automobile demand in 2015 was over 86 million units which are expected to grow at an estimated CAGR of 4% and reach above 100 million units by 2018.
Regulatory policies by environmental agencies to reduce carbon emissions and increase in vehicle fuel economy by reducing weight has pushed many automobile OEMS towards adopting plastics in place of metals & alloys for manufacturing components. Automobile weight reduction is witnessed as a priority in the industry as it lowers carbon emissions.
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The Thermoplastic elastomers (TPE) Market Report Consists of,
1. Methodology and Scope
2. Executive Summary
3. Thermoplastic elastomers (TPE) Market Industry Insights
3.1 Industry segmentation
3.2. Industry size, forecast and growth expectations, 2012 - 2023
3.3. Industry ecosystem analysis
3.4. Raw material insights
3.5. Technology insights
3.6. Regulatory framework
3.7. Industry dynamics
3.8. Key growth opportunities
3.9. Porter's analysis
3.10. Company market share, 2015
3.11. PESTEL analysis
3.14. Regional price trends
4. Thermoplastic elastomers (TPE) Market Product Insights
5. Thermoplastic elastomers (TPE) Market Application Insights
6. Thermoplastic elastomers (TPE) Market Regional Insights
7. Competitor Profiles
North America is likely to witness steady growth rates owing to structured regulatory norms pertaining to plastic consumption & disposal. Post recessing recovery of automobile & construction sector in the U.S. and Mexico is likely to drive regional growth.
Global thermoplastic elastomers market share is consolidated moderately and top four companies cater to more than 47% of the total demand. Major companies are shifting TPE production capacity to China, Brazil, India, Thailand, Malaysia and Vietnam owing to ease in raw material procurement and cheap labor cost along with supporting manufacturing policies.
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Key companies include BASF, Bayer, China Petroleum & Chemical Corp and Evonik Industries. Other manufacturers include Dow Chemical, LyondellBasell, Huntsman, Lubrizol Corp, PolyOne Corp, LYC Chemical and LG Chemicals.
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