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)
Thermoplastic Elastomers Market Report Overview
The report looks at current and future circumstances in the Thermoplastic Elastomers Market, providing unique insights and up-to-date data for important segments. The study covers important research issues in the Thermoplastic Elastomers industry, such as revenue generation, sales, and total income. To provide a comprehensive view, the study examines two distinct scenarios that include the whole Thermoplastic Elastomers market, including expected Thermoplastic Elastomers sales during the forecast period.
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Thermoplastic Elastomers Market Dynamics:
Increasing Use in Automotive and Transportation Applications
Thermoplastic Elastomers are employed in a wide range of automotive applications, including the manufacture of high-quality car instrument panels, wheel covers, dashboard components, pillar trims, door liners and handles, seat backs, and seat belt components. The vehicle industry has particularly severe material requirements. Under high loads, the materials must be dimensionally stable and not warp, even when exposed to substantial temperature swings, meeting the requirements for thermoplastic elastomers. Thermoplastic elastomers are low-cost plastics that assist vehicles save energy by reducing weight while providing durability, corrosion resistance, toughness, design flexibility, resilience, and good performance. Thermoplastic elastomers’ lower weight enables more fuel-efficient autos.
Thermoplastic Elastomers Market Report Scope and Research Methodology:
The primary purpose of the Thermoplastic Elastomers market study is to provide a thorough analysis in clear and simple terms. The analysis covers all of the major companies and essential features of the Thermoplastic Elastomers market, assessing numerous metrics such as volume, share, growth, and strategy. This research not only helps established organisations refine their operating plans, but it also provides strategic recommendations to new entrants. MMR’s research delves deeply into the Thermoplastic Elastomers market, identifying the leading worldwide businesses based on parameters such as volume, share, strategies, and growth. The research also includes tactics for both existing industry participants and potential Thermoplastic Elastomers market entrants. Furthermore, the global research for the Thermoplastic Elastomers market provides a detailed breakdown of regional share distribution, as well as an examination of development drivers in each area.
Thermoplastic Elastomers Market Segmentation:
by Material Type
• Styrenic Block Copolymers
• Thermoplastic Polyurethanes
• Thermoplastic Polyolefins
• Thermoplastic Vulcanizates
• Copolyester Ether Elastomers
Based on material type, Styrenic Block Copolymers dominated the Thermoplastic Elastomers market in 2022, accounting for more than 37.1% of the revenue. Styrenic Block Copolymer was the most widely consumed substance in 2022. Increasing demand for SIS in China and India is expected to boost segment growth during the forecast period. The increased usage of TPE in automotive under-the-hood applications and fascia systems is likely to boost global consumption growth. TPE is becoming increasingly used in construction due to its thermal and acoustic insulation properties.
Over the projected period, TPU demand in construction is expected to be affected by the increased importance of energy efficiency in buildings, as well as regulatory initiatives aimed at zero-energy buildings. Furthermore, growing industrialisation in many areas is expected to promote industry.
by Type
• Block Copolymers
• Blends
• Others
Based on application, the automotive category had the highest revenue share of more than 40.0% in 2022. The use of thermoplastic elastomers in automotive applications has increased dramatically as a result of the increasing adoption of electronic and electrical devices such as electric motor housings for seats and windows, passenger airbags, safety belt tensioners, and other components. Newly developed grades with higher hydrolytic stability are increasingly being used in engine components. Other automotive applications such as connectors, plugs, and housing components that must meet the industry’s increasingly stringent standards are also being manufactured. Polyester resins have benefited from innovations in mould design, a better understanding of flow dynamics in moulds, more robots, and greater computer simulation, all of which have increased the efficiency and cost of large-scale moulded part production.
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Thermoplastic Elastomers Market Regional Insights:
The Asia-Pacific region is expected to dominate the Thermoplastic Elastomers market during the forecast period. China and India are the region’s fastest growing economies, with each becoming one of the world’s largest manufacturing powerhouses. The Asia Pacific area is the world’s largest automobile manufacturing hub, accounting for about 60% of global output. The overall car production in the first nine months of 2021 was 32.67 million units, an 11% increase over the same period previous year. China’s building industry is growing at a rapid pace. China’s building production is expected to be worth around CNY 29.31 trillion in 2021.
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)
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Table of Content: Thermoplastic Elastomers Market
Part 01: Executive Summary
Part 02: Scope of the Thermoplastic Elastomers Market Report
Part 03: Thermoplastic Elastomers Market Landscape
Part 04: Thermoplastic Elastomers Market Sizing
Part 05: Thermoplastic Elastomers Market Segmentation by Type
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
Key Offerings:
- Past Market Size and Competitive Landscape (2023-2029)
- Past Pricing and price curve by region (2023-2029)
- Market Size, Share, Size Forecast by different segment | 2024-2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by segments and their sub-segments
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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