Global Thermoplastic Elastomers Market to See High CAGR Growth of 5.50% by 2026

Global Thermoplastic Elastomers Market is expected to reach 8711.54 tonnes by 2026 from 5676.43 tonnes in 2018, at a CAGR of 5.50% in the forecast period 2019 to 2026. The new market report contains data for historic years 2017, the base year of calculation is 2018 and the forecast period is 2019 to 2026.

A thermoplastic elastomer (TPE) have the properties and performance of a rubber, it is actually processed like Plastic and it is recyclable. The presence of the elastomeric component makes it soft and flexible such that it can be stretched repeatedly to at the least twice their original length at room temperature and can return to their approx. length of the original shape upon stress release. The soft touch of TPEs makes them appealing and beneficial for many markets and consumer goods. The TPEs that are soft can be easily be molded into hard thermoplastic materials, which would then be great for soft touch grips on products. TPEs can be perfectly used for sealing rings and on bottle cap liners. TPEs of other type can be used in automotive parts, home appliances, wire and cable insulation, HVACs.

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Competitive Analysis: Global Thermoplastic Elastomers Market

Global thermoplastic elastomers market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of thermoplastic elastomers market for Global, Europe, North America, Asia Pacific, South America and Middle East & Africa.

Key Market Competitors: Global Thermoplastic Elastomers Market

Few of the major competitors currently working in the thermoplastic elastomers market are BASF SE, Dow, LyondellBasell Industries Holdings B.V., Arkema Sa, Evonik Industries AG, Covestro AG, China Petrochemical Corporation, Huntsman International LLC., Tosoh Corporation, Kraton Corporation, Exxon Mobil Corporation, TSRC, Polyone, LCY Group, Celanese Corporation, LG Chem, Asahi Kasei Corporation, Teknor Apex, The Lubrizol Corporation, Apar Industries Ltd, Asahi Kasei Corporation, Zeon Corporation among others.

Segmentation: Global Thermoplastic Elastomers Market

• By Product Type (Styrenic Block Copolymers (TPE-S), Thermoplastic Polyolefins, Thermoplastic Olefins (TPE-O), Elastomeric Alloys (TPE-V or TPV), Thermoplastic Polyurethanes (TPU), Thermoplastic Copolyester, Thermoplastic Polyamides)
• By Application (Automotive, Building & Construction, Electrical & Electronics, Household Appliances, Medical, Adhesives, Sealants & Coatings, Footwear, HVAC and Others)
• By Geography (North America, South America, Europe, Asia-Pacific and Middle East and Africa)

Market Drivers:

• The thermoplastic elastomers substitute’s thermosets. Governments across the globe are increasingly investing in material research and development activities. Innovation in plastics in the automotive industry is a major factor driving the global thermoplastic elastomers market. Thermoplastic elastomers are extensively being demanded from the automotive industry and growing application in the HVAC Industry
• Growth in end-use industries is furthermore boosting the growth of the global thermoplastic elastomers market. Demand for thermoplastic elastomers is also increasing in the building & construction sector.
• Increasing applications in the medical industry and growing demand for bio-based thermoplastic elastomers will drive the market in future.

Market Restraints:

• Unstable and volatility in raw material prices are the factor which may hinder the growth of this market.

Key Insights in the report:

• Competitive analysis of key competitors involved in the market
• Complete analysis of market segmentation and which segments are set to flourish in the forecast period of 2019 to 2026
• Market drivers and restraints analysis along with the analysis of the market structure

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