Asia Pacific Thermoplastic Elastomers Market Forecast Analysis by Manufacturer, Types, Applications and Regions 2021 – 2022

Posted on 2021-11-25 by researchinsights in Chemicals // 0 Comments

San Jose, California , USA, Nov 25, 2021 — /EPR Network/ —

The Asia Pacific Thermoplastic Elastomers Market report provides a detailed evaluation of the industry by highlighting information on different aspects which include drivers, restraints, growth opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing. It also provides a detailed analysis of global market size, regional and country-level market size, competitive landscape, impact of domestic market players and value chain optimization. Furthermore, it sheds light on the market contribution, recent developments and successful marketing strategies of leading companies.

Market Insights

Asia Pacific thermoplastic elastomers market size was USD 4.63 billion in 2014 and is anticipated to reach over USD 7.82 billion by 2022. It is expected to witness substantial growth over the forecast period owing to growing automotive manufacturing in countries such as India, China, Indonesia and Thailand. The introduction of government policies that support investment along with private players emphasizing on enhancing technologies is anticipated to further fuel market demand.

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TPEs have superior properties such as moisture resistance, excellent elasticity and flexibility and tactile grip and hence are widely used in automotive components. Demand from other industries such as footwear, medical devices, and electronics is expected to remain a key driving factor for growth over the forecast period. Growth in demand is expected owing to the ease of recycling and processing with negligible emission is anticipated to result in higher demand. They have replaced thermosets in varied applications including medical devices and electronic components. TPE are gaining prominence mainly on account of the high degree of purity, low level of extractable compounds, cost effectiveness and recycling ability. They are popularly known as an ideal substitute for latex and PVC owing to above-mentioned factors.

Block copolymers and ionomers are the major raw materials for manufacturing TPE. Block copolymer process utilizes SBS rubber (styrene-butadiene-styrene) formed by combining a long block of polybutadiene with a short block of polystyrene where as ionomer process includes copolymers of ethylene and methacrylic acid. Increasing disposable income, rapid industrialization, and economic progress has progressively fostered automotive, electronics and consumer goods sectors, resulting in higher demand for component manufacturing end-uses. This aspect is likely to boost market growth, especially in India and China.

Improvement in the production process has propelled demand for biodegradable and recyclable TPE producing less scrap material. Additionally, packaging application segment is expected to witness exponential growth owing to increasing demand for transparent product packaging in different markets including consumer goods, electronics and medical applications. Other growing industries are projected to boost thermoplastic elastomers in personal care products, footwear, wire and cable, clothing applications and sports and leisure equipment.

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

Styrenic block copolymers (SBC)
Thermoplastic polyurethane (TPU)
Thermoplastic polyolefins (TPO)
Thermoplastic vulcanizates (TPV)
Copolyester elastomers (COPE)
Others

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Top Players analysis covered in these report

BASF
DuPont
Arkema
Dynasol Elastomer LLC
Nippon Polyurethane Industry Company Ltd
LyondellBasell Industries and many others

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