Thermoplastic Elastomers Market Dynamics, Growth Prospect and Consumption Analysis till 2022

Posted on 2021-01-13 by researchinsights in Chemicals // 0 Comments

Felton, California , USA, Jan 13, 2021 — /EPR Network/ —

The global Thermoplastic Elastomers Market was estimated at 3.82 million tons. The rising replacement of ethylene propylene diene monomer (EPDM) by TPE in construction equipment is likely to fuel the product market. The superior chemical and physical properties of the product as opposed to thermoset plastics are expected to widen the application scope, thereby aiding market demand.

The growing application of TPE in electronics, consumer goods, construction, and footwear is expected to have a positive impact on the product demand. The rising demand for TPE in the automotive industry owing to the changes in consumer preferences regarding lightweight and high performance passenger cars has been instrumental in driving the market growth.

The characteristics of the product to be recycled, re-shaped, and re-molded result in minimizing the product wastage, resulting in high application scope. The product acts as substitutes for conventional plastic and rubber on account of its attributes including resistance to oxidation, UV, chemicals coupled with imparting soft-touch.

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The regulations by federal bodies including US Pharmacopeia, FDA promote safety and health ensuring the product utilization in various end-use industries. In addition, the environmental norms by various governments regarding reduction in carbon emission by increasing fuel efficiency is expected to witness a subsequent growth in the product application in automotive OEMs as an alternative to alloys and metals.

The fluctuating prices of major raw materials including polyurethane, propylene, and styrene is likely to hamper the market growth.

Thermoplastic Elastomers (TPE) Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2022)

Styrene Block Copolymers (SBC) Thermoplastic Polyurethanes (TPU)
Styrene Butadiene Styrene (SBS)
Styrene Isoprene Styrene (SIS)
Hydrogenated Styrene Block Copolymers (HSBC)
Thermoplastic Polyolefins (TPO)
Thermoplastic Vulcanizates (TPV)
Copolymer Esters (COPE)
Other TPE

The global TPE market is highly fragmented with the major four companies contributing to over 45% of the market share. These major companies include Lyondell Basell, Sinopec, Kraton Polymers, and Dow Chemical Company. The other key players include Kraton, Evonik, Dynasol Elastomers, Bayer Material Science, and Arkema.

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Thermoplastic Elastomers (TPE) Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2022)

North America
U.S.
Europe
Germany
France
UK
Italy
Asia Pacific
China
India
Japan
Central & South America
Brazil
Middle East & Africa

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