Thermoplastic Elastomers Market Size will grow at a significant rate from 2017 to 2024.

Increasing preference for low weight, sustainable, bio-based alternatives for conventional raw material will impel Thermoplastic Elastomers Market size. Subject to the efficient thermoplastic and elastomeric properties and myriad other physical and chemical benefits provided by these products, they are used extensively as alternatives for metals, regular & engineered plastics, wood, and natural or synthetic rubber across the automotive, medical, electronics, construction, footwear, and industrial sectors. Thermoplastic elastomers (TPE) industry was worth USD 12 billion in 2015, and is anticipated to hit a revenue of USD 20 billion by 2023, growing at a CAGR of 6% over 2016-2023.

Global Market Insights has a new study based report titled " (TPE) Thermoplastic Elastomers Market Size By Product (Thermoplastic Polyurethanes [TPU], Styrenic Block Copolymers [SIS, SBS, SBC, HSBC], Thermoplastic Vulcanizates [TPV], Copolyester Elastomers [COPE], Thermoplastic Polyolefins [TPO]), By Application (Footwear, Automotive, Medical, Construction, Industrial, Advanced Materials, Electronics), Industry Analysis Report, Regional Outlook (U.S., Germany, UK, France, Italy, China, India, Japan, Brazil), Growth Potential, Price Trend, Competitive Market Share & Forecast, 2016 – 2023".

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In 2015, global thermoplastic elastomers market was consolidated, with major players accounting for more than 40% of the overall share. Companies such as Nippon Polyurethane Industry, BASF, China Petroleum & Chemicals, Kraton Polymers, Arkema S.A., Dow Chemicals, Covestro, LyondellBasell, and EMS Group are chief participants in thermoplastic elastomers industry. Firms have been focusing on investing in R&D and enhancing the product offering to sustain the market position. In addition, expansion of production capacity and mergers & acquisitions are among the key growth strategies adopted by these companies. For instance, Arkema had introduced Pebax Rnew into its elastomer family in 2014, which is a plastic derived from castor oil. Dupont has also introduced Hytrel RS, a highly renewable elastomer. Recently, BASF has heavily diversified its product portfolio by developing multiple versions of TPEs to partner with HP for launching its new 3D Open Materials and Applications Lab. Similar efforts by other companies will boost thermoplastic elastomers market outlook.

The report offers all-inclusive analysis of:

1 Market structure
2 Factors restraining market growth
3 Market growth drivers
4 Opportunities and challenges
5 Market estimations and forecast for projected period

Companies operating in global medical polymers market adopt varied business strategies such as collaborations, R&D investments, and mergers & acquisitions to sustain their position. This industry is highly fragmented and involves the partaking of myriad local medium and large-sized businesses. Major players operating in medical polymers market include Evonik Industries, DuPont, Huntsman, Bayer AG, Dow Chemicals, Celanese Corporation, and Eastman Chemicals. Medical polymers market firms constantly strive to upgrade their product portfolio and improve their service sphere to score an edge over competitors.

Recently, at K 2016, the world’s largest plastics fair, Celanese Corporation showcased their range of reliable, safe, and compliant medical polymers that acknowledge issues such as dosage frequency and patient compliance. These polymers, when incorporated in medical devices & equipment, were designed to depict high performance, distinguishable appearance, and efficient operational ability. With many other companies undertaking similar efforts to develop high grade polymers for easy and safe treatment admission, global medical polymers industry size is set to rise a notch higher.

The Thermoplastic Elastomers Market Report Consists of,

1. Methodology and Scope
2. Executive Summary
3. Thermoplastic Elastomers Market Industry Insights

3.1 Industry segmentation
3.2. Industry size, forecast and growth expectations, 2016 - 2024
3.3. Industry ecosystem analysis
3.4. Raw material insights
3.5. Technology insights

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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 Market Product Insights

These products, subject to their superior thermal insulation and acoustic properties are also used in the construction sector. Pressure from regulatory bodies as regards to energy efficiency codes mandated for buildings will drive TPV market from construction applications. The rapid growth of the construction and automotive sectors globally will also aid the expansion of the product landscape of thermoplastic elastomers market.

Speaking of the expansion of the automotive and construction sectors, it would be prudent to mention the emerging economies of the APAC region. Asia Pacific thermoplastic elastomers industry, worth USD 4 billion 2015, will grow significantly over 2016-2023, subject to the vast number of automotive manufacturing units and the rising number of construction projects in the region. Subject to their superior properties, TPU and TPV products are heavily deployed across both these sectors, which will drive APAC TPE market over the next few years. India and China are touted to be the key contributors, with China having accounted for more than 60% of the APAC thermoplastic elastomers industry in 2015.

5. Thermoplastic Elastomers Market Application Insights

TPUs are heavily deployed for tubing applications in the automotive sector, subject to which thermoplastic polyurethanes (TPU) industry, having had a valuation of USD 1.5 billion in 2015, will witness a growth of more than 5% over 2016-2023. Additionally, this product is also used to construct cables and wires for the construction sector, subject to its properties of high thermal insulation and heat resistance, which will propel thermoplastic elastomers market from construction applications.

6. Thermoplastic Elastomers Market Regional Insights

Europe, driven by UK, France, and Germany thermoplastic elastomers market accounted for over 20% of the overall demand in 2015. Evolution as an alternative to ethylene propylene rubber (EPR) and ethylene propylene diene monomer (EPDM) in various industries has enhanced the regional demand. Aim to provide high fuel efficiency and low weight automobiles will enhance the regional industry growth.

APAC TPE market was valued over USD 4 billion in 2015. Rising number of automotive manufacturing plants due to large raw material and skilled labor availability, will drive the India and China thermoplastic elastomers market growth. China was one of the major contributors and accounted for over 60% of the regional demand in 2015.

U.S. thermoplastic elastomers market was worth over 1 billion in 2015. Rising TPEs usage in paving & roofing, medical equipment, sports & leisure equipment and personal hygienic products will support the regional industry growth. Regulatory policies on specific polymers and disposal consumption will impact positively impact the industry size.

Construction and automotive industry expansion in Brazil, Cuba, Colombia and Peru along with easy petrochemical trading with Middle East countries will facilitate the thermoplastic elastomers market growth. Central & South America is set to witness 4.5% growth up to 2023.

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7. Competitor Profiles

Global thermoplastic elastomers market share is moderately consolidated with the chief industry participants accounted for over 40% of the total demand in 2015. Major industry players include Kraton Polymers, Dow Chemicals, LyondellBasell and BASF. The companies are focusing on the new product development, capacity expansions and mergers & acquisition. Shifting manufacturing based to China, Brazil, and India in order to increase economies of scale is among the key strategies.

Covestro, China Petroleum & Chemical, Nippon Polyurethane Industry, Arkema S.A. and EMS group are some of the other industry participants. Depleting crude oil reserves along with rising concerns associated with petrochemicals oxidation has facilitated innovations for alternatives including bio based thermoplastic elastomers. Various industry participants including Arkema that launched Pebax Rnew. Dupont also launched Hytrel RS a renewable elastomer has successfully produced bio based TPEs based on polyols.

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