Global Thermoplastic Elastomers Market to See High CAGR Growth of 5.50 % by 2026
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); Application (Automotive, Building & Construction, Electrical & Electronics, Household Appliances, Medical, Adhesives, Sealants & Coatings, Footwear, HVAC and Others)
Market Analysis: Global Thermoplastic Elastomers MarketGlobal 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.
Market Definition: Global Thermoplastic Elastomers MarketA 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.
A thermoplastic elastomer (TPE) is like a rubber, possessing its features and performance, processed like Plastic, and is however recyclable, unlike plastic. They are a combination of polymers (rubber and plastic) which consists of both the thermoplastic and elastometer component. The eslatomeric component which is contained in it makes it soft and flexible, making them attractive and useful for several markets and consumer products. The advantage of using TPEs is that they can stretch to elongations and reform to its prior form thereby being durable having a better physical form than the alternative materials. They are extensively used in automotive parts, building and construction, adhesives, HVACs, Medical materials, cables and wires.
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.
By Product Type
- Styrenic Block Copolymers (TPE-S)
- Thermoplastic Olefins (TPE-O)
- Elastomeric Alloys (TPE-V or TPV)
- Thermoplastic Polyurethanes (TPU)
- Thermoplastic Copolyester
- Thermoplastic Polyamides
- Thermoplastic Polyolefins
By Application
- Automotive and Transportation
- Building & Construction
- Electrical & Electronics
- Household Appliances
- Medical
- Adhesives
- Sealants & Coatings
- Footwear
- HVAC
- Others
Key Developments in the Market:
The advancements in technology create opportunities for TPEs, providing the designers and manufacturers new options for designing Green products. An application that would be favourable and positive would be in Nanofiltration of water sources, where the current advancements are expensive or backward in the face of increasing requirements for cleansed pure fresh water in several parts of the globe.
Spread of TPEs has been advanced for Pet Toys. The global supplier of ingenious TPEs Audia Elastometers, has advanced a substantial range of front-line superior performance TPEs which deliver strength, resilience, high clearness and adherence for the market of pet toy, inclusive of dog treats and chew toys.
Competitive Analysis: Global Thermoplastic Elastomers MarketGlobal Thermoplastic Elastomers Marketis 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.
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