The Thermoplastic Elastomer Global Market Report 2023 by The Business Research Company, provides thermoplastic elastomer market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Thermoplastic Elastomer Global Market Report 2023, the market size is expected to grow from$25.83 billion in 2022 to $27.04 billion in 2023 at a compound annual growth rate (CAGR) of 6.37%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of thermoplastic elastomers market is expected to reach $35.12 billion in 2027 at a CAGR of 6.76%.
The increasing demand for automotive components manufacturing is expected to propel the growth of the thermoplastic elastomer market going forward. Automotive component manufacturing refers to the process of producing various parts and components that are used in the manufacturing and assembly of automobiles. These components utilize thermoplastic elastomer materials for a variety of applications. Thermoplastic elastomers offer a combination of flexibility, durability, and ease of processing, making them suitable for different automotive component requirements.
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The thermoplastic elastomer market is segmented:
1) By Type: Thermoplastic Polyurethane (TPU), Styrenic Block Copolymer (TPE-S), Thermoplastic Vulcanizates, Elastomeric Alloys, Thermoplastic Copolyester, Other Types
2) By Material: Poly Styrenes, Poly Olefins, Poly Ether Imides, Poly Urethanes, Poly Esters, Poly Amides
3) By Application: Automotive, Building And Construction, Footwear, Wire And Cables, Medical, Engineering, Other Applications
Product Innovations are a key trend gaining popularity in the thermoplastic elastomer market. Companies operating in the thermoplastic elastomer market are adopting new product innovations to sustain their position in the market. For instance, in April 2022, DuPont, a US-based chemical company introduced a new line of extruded pharma tubing called DuPont Liveo Pharma thermoplastic elastomer tubing. This launch represents a significant milestone for the Liveo brand, as it expands its product offerings to include thermoplastic elastomer technology for fluid transport and single-use bioprocessing applications. Liveo pharma thermoplastic elastomer tubing is specifically designed for use in biopharmaceutical processes. It offers the capability of aseptic connection and disconnection of tubing without the need for connectors, making it suitable for applications such as sampling where maintaining a sterile environment is critical.
The thermoplastic elastomer market report table of contents includes:
1. Executive Summary
2. Thermoplastic Elastomer Market Characteristics
3. Thermoplastic Elastomer Market Trends And Strategies
4. Thermoplastic Elastomer Market – Macro Economic Scenario
5. Thermoplastic Elastomer Market Segmentation
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26. South America Thermoplastic Elastomer Market
27. Brazil Thermoplastic Elastomer Market
28. Middle East Thermoplastic Elastomer Market
29. Africa Thermoplastic Elastomer Market
30. Thermoplastic Elastomer Market Competitive Landscape And Company Profiles
Top Major Players:
- China Petroleum & Chemical Corporation
- ExxonMobil Chemical Company
- BASF SE
- Asahi Kasei Corporation
- Covestro AG
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