The report "Thermoplastic Elastomers Market by Type (SBC, TPU, TPO, TPV, COPE, PEBA), End Use Industry (Automotive, Building & Construction, Footwear, Wire & Cable, Medical, Engineering) and Region (North America, APAC, Europe, RoW) - Global Forecast to 2027", size is estimated to be USD 24.7 billion in 2022 and is projected to reach USD 33.9 billion by 2027, at a CAGR of 6.5%.
Browse 368 market data Tables and 56 Figures spread through 285 Pages and in-depth TOC on "Thermoplastic Elastomers Market by Type (SBC, TPU, TPO, TPV, COPE, PEBA), End Use Industry (Automotive, Building & Construction, Footwear, Wire & Cable, Medical, Engineering) and Region (North America, APAC, Europe, RoW) - Global Forecast to 2027"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/thermoplastic-elastomers-market-1012.html
Factors such as Growing penetration of EV and expected recovery from the COVID 19 impact supports market growth. Restraints for the market is higher costs of TPE than that of conventional material and economic slowdown. Opportunities in Thermoplastic Elastomers Market is due Emerging market for the Biobased TPE. Moreover, the emerging trend of simplifying the complexity in choosing a specific type of thermoplastic elastomer is challenging the growth of the other types of TPEs & intrathermoplastic elastomers segment replacement is the major challenge for Thermoplastic Elastomers Market.
By type, Thermoplastic polyolefin accounted for the largest share in 2021
Thermoplastic polyolefin are estimated to be the largest type in Thermoplastic Elastomers Market (in terms of value). These thermoplastic polyolefin is one of the most widely used materials in the automotive industry and is usually manufactured by blending polypropylene with elastic ethylene copolymers (polyolefin elastomers or POE) and adding other reinforcing fillers and additives. It can be processed using various techniques, including injection molding, profile extrusion, thermoforming, and blow molding. TPO is used in a variety of applications in the automotive industry.
By End use Industry, Automotive accounted for the largest share in 2021
Automotive is estimated to be the largest market for Thermoplastic Elastomers Market. TPEs are used for exterior body parts, such as exterior filler panels, wipers, rocker panels, body seals, automotive gaskets, door & window handles, and vibration damping pads. Recent developments in TPE have made it suitable for under-the-hood applications, such as belts & hoses, clamps, fuel lines, buffer blocks for bonnets & boots, bellows, and weather stripping, such as water and soundproofing. The applications of TPE in the automotive industry will increase as the electric vehicles (EVs) market is gaining traction.
APAC is projected to account for the largest share in 2021
APAC is estimated to be the largest market for Thermoplastic Elastomers Market in 2021 and also during the forecast period. The increased demand for Thermoplastic Elastomers in Asia Pacific is led by rapid industrialization and growing demand from various automotive, building & construction, wire & cable, engineering, and medical industries in India, China, Japan & south korea.
The Thermoplastic Elastomers Market comprises major manufacturers such as Arkema S.A (France), Asahi Kasei Corporation (Japan), BASF SE(Germany), Covestro Ag (Germany) and Huntsman Corporation (US) are the key players operating in the Thermoplastic Elastomers. Expansions, acquisitions, joint ventures, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Thermoplastic Elastomers.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441