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In terms of value, the thermoplastic elastomers market is projected to grow at a CAGR of 5.2% during the forecast period from 2017 to 2022.
The thermoplastic elastomers market is projected to reach USD 28.27 billion by 2022, at a CAGR of 5.2% from 2017 to 2022. Thermoplastic elastomers possess properties of both, plastics and elastomers. They can be molded easily at room temperature by heating them. Thermoplastic elastomers are increasingly used in various enduse industries, owing to the properties offered by them, which include heat stability, smoothness, wear resistance, and scratch resistance. The growing demand for thermoplastic elastomers from the automotive industry of the AsiaPacific region is expected to fuel the growth of the thermoplastic elastomers market across the globe. Moreover, the environmentfriendly nature of thermoplastic elastomers, along with advancements being carried out in the thermoplastic elastomer processing industry is also expected to fuel the growth of the thermoplastic elastomers market during the forecast period. Volatile prices of raw materials and technical difficulties involved in the development of low cost and economical thermoplastic elastomer products are the factors expected to restrain the growth of the thermoplastic elastomers market during the forecast period.
The thermoplastic vulcanizates TPV type segment of the thermoplastic elastomers market is projected grow at the highest CAGR between 2017 and 2022.
Thermoplastic vulcanizates TPV are prepared by the dynamic vulcanization of nonmiscible blends of rubber and a semicrystalline thermoplastic. The most common type of thermoplastic vulcanizates TPV is ethylene propylene diene monomer EPDM/ polypropylene thermoplastic vulcanizate PP TPV. The most important advantage of thermoplastic vulcanizates TPV is their ability to reuse and recycle production scrap and waste. Thermoplastic vulcanizates TPV offer excellent colorability. As such, they are used for developing interiors of automobiles. The growing demand for thermoplastic vulcanizates TPV as a replacement for polyvinyl chloride PVC in the healthcare industry is one of the major drivers for the growth of the thermoplastic vulcanizates TPV segment of the thermoplastic elastomers market. Thermoplastic vulcanizates TPV have low drug absorption and are environmentfriendly. They offer optical clarity and toughness. Thermoplastic vulcanizates TPV are used in the manufacturing of catheters, blood bags, and disposable gloves.
The automotive enduse industry segment is projected to lead the thermoplastic elastomers market between 2017 and 2022.
The automotive enduse industry segment is projected to lead the thermoplastic elastomers market during the forecast period from 2017 to 2022. Thermoplastic elastomers are used in the manufacturing of exterior filler panels, wipers, rocker panels, body seals, automotive gaskets, door window handles, and vibration damping pads of automobiles. Moreover, the recent advancements in thermoplastic elastomers have made them suitable for underthehood applications, such as belts hoses, clamps, fuel lines, and buffer blocks for bonnets boots.
The AsiaPacific thermoplastic elastomers market is projected to grow at the highest CAGR during the forecast period.
The AsiaPacific thermoplastic elastomers market is projected to grow at the highest CAGR between 2017 and 2022. China is estimated to be the largest market for thermoplastic elastomers in the AsiaPacific region. The India thermoplastic elastomers market is projected to grow at the highest CAGR during the forecast period. The increasing demand for thermoplastic elastomers from various enduse industries, such as automotive, building construction, and footwear is expected to drive the growth of the AsiaPacific thermoplastic elastomers market from 2017 to 2022.
Extensive primary interviews were conducted to determine and verify the market sizes of various segments and subsegments of the thermoplastic elastomers market.
The breakup of primary interviews is given below:
By Company Type Tier 1 30%, Tier 2 43%, and Tier 3 27%
By Designation C level 21%, Director level 23%, and Others 56%
By Region North America 30%, Europe 18%, AsiaPacific 41%, and RoW 11%
The companies profiled in this report on the thermoplastic elastomers market are Arkema SA France, Asahi Kasei Corporation China, Covestro AG Germany, Evonik Industries AG Germany, Kraton Corporation U.S., Lubrizol Corporation U.S., LyondellBasell Industries N.V. Netherlands, PolyOne Corporation U.S., Sinopec Group China, Teknor Apex Company U.S., The Dow Chemical Company U.S., and Tosoh Corporation Japan.
This research report categorizes the thermoplastic elastomers market on the basis of type, enduse industry, and region. The report includes detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities influencing the growth of the thermoplastic elastomers market. A detailed analysis of the key industry players has been done to provide insights into their businesses and products services offered by them. The report also contains the key strategies, such as expansions, mergers acquisitions, new product developments, and agreements adopted by the leading players to strengthen their position in the thermoplastic elastomers market.
Reasons to Buy the Report
The report is expected to help market leaders/new entrants in this market in the following ways:
1. This report segments the thermoplastic elastomers market comprehensively and provides the closest approximations of the sizes for the overall market and its subsegments across different verticals and regions.
2. The report is expected to help the stakeholders understand the pulse of the market and provide them information on the key market drivers, restraints, challenges, and opportunities influencing the growth of the thermoplastic elastomers market.
3. This report is expected to help the stakeholders understand the major competitors in the thermoplastic elastomers market and gain insights to enhance their positions in the market. The competitive landscape section includes detailed information on the expansions, acquisitions, and new product developments that took place in the market.
Original Article: Thermoplastic Elastomers Market by Type SBC, TPO, TPV, COPE, PEBA, Enduse Industry Automotive, Building Construction, Footwear, Engineering, Medical, Wires Cables, Region Global Forecast to 2022 [Report Updated: 27062017] Prices from USD $5650NEXT ARTICLE
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