Thermoplastic Elastomers Market Overview:
Thermoplastic Elastomers (TPEs) are multifunctional polymeric materials that are processed in the same way as plastic but possess rubber properties. TPEs exhibit excellent performance characteristics such as shock absorption, cleanliness, easy sterilization, dimensional stability, chemical, weather, and thermal resistance, and flexibility. TPEs can be easily processed, molded, and recycled, and hence production requires low energy costs and is eco-friendly. They are mainly used in the automotive industry for fuel line coverings, side bumpers, mudguard components, air vents, door handles, and door weather strips, among others. In addition, TPEs find application in the building and construction, home appliances, and healthcare industries.
Thermoplastic Elastomers Market Key Players:
Some of the prominent players in the global thermoplastic elastomers market are;
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Thermoplastic Elastomers Market Regional Analysis:
Thermoplastic Elastomers Market has been studied with respect to five regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. Owing to the high product demand in the automotive and footwear industries, Asia-Pacific accounted for the largest share of the global thermoplastic elastomers market in 2018. Asia-Pacific is the most populated region and requires a large number of transportation and passenger vehicles. With the increase in automotive production, the demand for TPEs is likely to increase during the forecast period.
In addition, the use of TPEs in the footwear industry for the production of various types of soles, shoe platforms, wooden soles, and rubber boots is expected to further propel the growth of the thermoplastic elastomers market in the coming years. The major economies contributing to the growth of the regional market are China, India, Japan, and Indonesia. North America and Europe are the other substantial markets for TPEs. North America accounted for the second-highest automobile production in 2018 due to the established automotive industry in the US. This is expected to boost product demand in the region during the review period. The advancements in the European automotive industry to increase the sustainability and efficiency of vehicles are expected to fuel product demand during the forecast period.
Thermoplastic Elastomers Market Segmentation:
Thermoplastic Elastomers Market has been segmented, by product, into vulcanizate thermoplastic, styrenic block copolymer thermoplastic, polyurethane thermoplastic, polyamide thermoplastic, olefin thermoplastic, and others. The vulcanizate thermoplastic segment is expected to lead the market during the forecast period.
This product exhibits properties such as high fatigue resistance, elastic recovery within a wide temperature range, abrasion resistance, thermal and electric insulation, and flame resistance. Due to these properties, the product finds application in the automotive, building and construction, and household appliances industries. The increasing product demand in the automotive industry and rapid industrialization in developing economies are likely to boost market growth during the forecast period.
Thermoplastic Elastomers Market Table of Content to be Continue,
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