Thermoplastic Elastomers Market Overview
MMR published a report on the Thermoplastic Elastomers market. The report is a combination of primary and secondary data, and it has been analyzed by domain experts from both a local and global perspective. The report provides a detailed analysis of the market size and share in each region and segment, making it an invaluable resource for investors.
Thermoplastic Elastomers are elastic materials and a physical combination of polymers containing plastic and elastomer components with thermoplastic and elastomeric capabilities. These materials are widely utilized in the automobile sector, where they are used for car tyres and other auto parts.
Growth of the Thermoplastic Elastomers Market
Thermoplastic Elastomers Market was valued at USD 24.69 Billion in 2022, and it is expected to reach USD 38.37 Billion by 2029, exhibiting a CAGR of 6.5 % during the forecast period (2023-2029)
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Thermoplastic Elastomers Market Report Scope and Research Methodology
At the national, regional, and international levels, the research offers a thorough examination of the Thermoplastic Elastomers market. It offers a thorough examination of the competitive environment in the Thermoplastic Elastomers market, taking into account the main players’ business plans. A list of the major rivals of Thermoplastic Elastomers is provided in the study, together with details on their earnings, volume of production, worldwide reach, and sales. The SWOT analysis was employed to ascertain the advantages and disadvantages of the principal participants in the Thermoplastic Elastomers sector. The study also includes detailed information on the potential, challenges, drivers, and restraints of the Thermoplastic Elastomers market.
The size of the worldwide and regional Thermoplastic Elastomers markets was calculated using the bottom-up method. Data on market size, market share, geographical insights, market dynamics, the performance of major players, and industry historical data were gathered using both primary and secondary research methodologies. The research also contains a thorough value chain analysis with data on distributors, customers, and raw materials that aids in understanding the Thermoplastic Elastomers production process. In order to comprehend the Thermoplastic Elastomers market at both the macro and micro levels, it also contains Porter’s and PESTLE analysis in addition to market attractiveness.
Thermoplastic Elastomers Market Dynamics:
Growing Use in Transportation and Automotive Applications
Numerous automobile applications involve the usage of thermoplastic elastomers, such as the manufacture of premium instrument panels, wheel covers, dashboard parts, pillar trims, door liners and handles, seat backs, and seat belt components. The criteria for materials are very strict in the automotive industry. In order to meet the requirements for thermoplastic elastomers, the materials must be dimensionally stable under high loads and not distort even when exposed to significant temperature changes.
Thermoplastic Elastomers Market Segmentation:
by Material Type
• Styrenic Block Copolymers
• Thermoplastic Polyurethanes
• Thermoplastic Polyolefins
• Thermoplastic Vulcanizates
• Copolyester Ether Elastomers
The market for thermoplastic elastomers was dominated by styrenic block copolymers, which had the highest revenue share of over 37.1% in 2022 based on material type. In 2022, styrenic block copolymer was the most materially consumed. Over the course of the projection period, rising SIS demand in China and India is anticipated to propel segment expansion. Global TPE use is anticipated to be driven by its use in fascia systems and under-the-hood automotive applications. TPE is becoming more and more popular in architectural applications due to its acoustic and thermal insulation properties.
Over the course of the projection period, the growing significance of energy efficiency in buildings and the ensuing legislative actions aimed at zero-energy buildings are projected to have an impact on TPU demand in the construction industry. Additionally, the growing industrialization in many areas is probably going to encourage industry.
by Type
• Block Copolymers
• Blends
• Others
by End-Use
• Automotive
• Electrical & Electronics
• Industrial
• Medical
• Consumer Goods
• Others
In 2022, the automotive segment had the highest revenue share, accounting for nearly 40.0%, based on application. The increasing use of electronic and electrical devices, such as electric motor housings for seats and windows, passenger airbags, safety belt tensioners, and other components, has led to a significant increase in the use of thermoplastic elastomers in automotive applications. In engine components, recently developed grades with enhanced hydrolytic stability are being used. Connectors, plugs, and housing components—among other automotive applications—that have to endure the industry’s ever-tougher standards are also being moulded. Polyester resins have profited from improvements in computer simulation, automation, flow dynamics in moulds, and mould design, which have all reduced costs and increased manufacturing efficiency for big, moulded products.
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Thermoplastic Elastomers Market Key Players:
• Arkema SA(France)
• Asahi Kasei Corporation(Japan)
• Zeon Corporation(Japan)
• Yantai Wanhua Polyurethane Co. Ltd.(China)
• China Petrochemical Corporation(China)
• Sinopec Group(China)
• Kraton Corporation(US)
• Huntsman International LLC.(US)
• The Dow Chemical Company(US)
• Teknor Apex Company(US)
• Celanese Corporation(US)
• Advanced Elastomer Systems L.P.(US)
• Lubrizol Corporation(US)
• PolyOne Corporation(US)
• LyondellBasell Industries N.V.(Netherlands)
• Tosoh Corporation(Japan)
• Apar Industries Ltd( India)
• Muller Kunststoffe(Germany)
• BASF SE(Germany)
• Covestro AG(Germany)
• Evonik Industries AG(Germany)
• Bayer Material Science LLC(Germany)
Thermoplastic Elastomers Market Regional Insights
Geographically, the report is segmented into several key countries, with market size, growth rate, import and export of Thermoplastic Elastomers market in these countries, which covering North America – U.S., Canada, Mexico, Europe – UK, Germany, France, Spain, Italy, Rest of Europe, Asia Pacific – China, India, Japan, Australia, South Korea, ASEAN Countries, Rest of APAC, South America – Brazil, and Middle East and Africa.
Key Questions answered in the Thermoplastic Elastomers Market Report are:
- What is the expected Thermoplastic Elastomers market size by 2030?
- What will be the CAGR of the Thermoplastic Elastomers market during the forecast period?
- Which segment held the largest share in the Thermoplastic Elastomers market?
- How is the competitive scenario of the Thermoplastic Elastomers market?
- Which are the key factors driving the Thermoplastic Elastomers market growth?
- What are the factors restraining the Thermoplastic Elastomers market growth?
- Which region holds the maximum share in the Thermoplastic Elastomers market?
- Who are the key players in the Thermoplastic Elastomers market?
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Key Offerings:
- A detailed Market Overview
- Market Share
- Market Size
- Market Forecast by Revenue
- Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
- Market Segmentation- A detailed analysis of each segment and their segments
- Competitive Landscape – Leading key players and other prominent key players.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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