Title: Thermoplastic elastomers market growing at CAGR over 6% up to 2023
1TPE Market To Exceed USD 20 billion by 2023
2Global Market Scenario of Thermoplastic
Elastomers Industry
- (TPE) Thermoplastic Elastomers Market size is
estimated to be worth over USD 20 billion by
2023 according to a new research report by
Global Market Insights, Inc. - Superior elastomeric and thermoplastic properties
for structural applications will drive the
thermoplastic elastomers market growth. Emergence
as an alternative for metal, rubber, glass or
conventional engineered plastics has enhanced the
industry growth. Strong application scope in
medical and automotive due to favorable
regulatory compliance are stimulating factors
fueling product demand. Rising consumer awareness
associated with safety and protection in
electrical, electronic and other applications
will support the thermoplastic elastomers market
growth. - Styrenic block copolymer (SBC) was among the key
contributors, and generated over USD 6 billion
revenue in 2015. Consumer goods, medical
equipment and packaging were major applications.
Superior performance properties along with
technological advancement in hydrogenated SBC are
the major driving factors.
3Continue.....
- TPV market will register growth above 5 up to
2023. High heat resistance properties coupled
with growing demand for sustainable products has
enhanced TPV consumption. TPU market size
generated over USD 1.5 billion in 2015. High
thermal insulation properties have influenced its
uses in wires cables and tires. Construction
and automobile industry expansion will enhance
industry growth in this segment. - Rising demand for high fuel efficiency and low
weight cars are key automotive industry trends
encouraging thermoplastic elastomers market
growth. Stringent government regulations against
carbon emissions greenhouse gases and PVC usage
are other key encouraging factors. - Thermoplastic elastomers being alternative to
thermosets have substituted medical stoppers,
lids and gaskets due to its high insulation and
molding properties. High adaptability to
modification, recyclability and waste reduction
are the notable features supporting electronics
application scope.
Latest Research Report On Thermoplastic
Elastomers Market_at_ https//www.gminsights.com/indu
stry-analysis/thermoplastic-elastomers-tpe-market-
report
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- Product Analysis-
- Styrenic block copolymer (SBC) market revenue was
valued over USD 6 billion in 2015. High tensile
strength along with elastomeric properties makes
the product highly demanding. - Thermoplastic polyurethanes (TPU) market size
will witness a growth over 5 during the forecast
period. The product is widely used for wire
cables in construction and for tubing in
automotive industry. - Copolyester elastomers (COPE) market size will
generate more than 1 billion valuation by 2024,
Electronics and electrical was the key revenue
generating application. - High oil and heat resistance properties has also
encouraged TPV uses vehicle interior and engine
components. The product will witness over 5.5
growth up to 2024.
6Regional Analysis APAC thermoplastic elastomers
market revenue was over USD 4 billion in 2015.
Regulatory support and innovations in automotive
and medical applications in the emerging
economies will drive the regional demand in
coming years. China thermoplastic polyurethanes
market size will surpass USD 500 million
valuation with over 6 CAGR. Shifting automotive
OEMs preference for manufacturing bases in China
and India due to large raw material and skilled
labor availability, has made the region more
lucrative. North America thermoplastic
elastomers market catered for over 25 of the
global demand in 2015. EPA regulations to promote
eco-friendly products coupled with rising product
uses in medical equipment, sports leisure
equipment, automotive and construction industry
are driving factors for the industry trends. MEA,
driven by UAE and Saudi Arabia will witness gains
over 4.5 up to 2023. Large crude oil reserves,
growing demand for electronic goods and increased
household spending are the factors to fuel the
regional demand. Competitive Analysis Global
thermoplastic elastomers market share is
moderately consolidated, with the major industry
participants accounting for around 40 of the
overall demand in 2015. Kraton Polymers, Dow
Chemicals, LyondellBasell and BASF are the major
industry players. Bayer MaterialScience
(Covestro), Nippon Polyurethane Industry, China
Petroleum Chemical and Arkema S.A. are some of
the other industry participants.
7 Latest Research Report On Thermoplastic
Elastomers Market_at_ https//www.gminsights.com/indu
stry-analysis/thermoplastic-elastomers-tpe-market-
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