Thermoplastic Elastomers Companies

The thermoplastic elastomers market is expected to reach USD 38.94 billion by 2030 from USD 30.83 billion in 2025, at a CAGR of 4.8% during the forecast period.

The market for thermoplastic elastomers is expanding steadily due to increased demand from the consumer goods, construction, automotive, and medical industries. The driving factors are the rising desire for recyclable and lightweight materials, high-performance characteristics, and ease of handling. Expansion in the electric vehicle, medical device development, and green packaging are also driving the demand. In addition, improvements in material science and additional emphasis on substituting traditional rubber with TPEs help fuel market growth. Strategic partnerships and customization of products are further helping manufacturers address varied industry needs.

In March 2023, Arkema SA partnered with Engie SA to supply 300 GWh/year of renewable biomethane in France.

Thermoplastic Elastomers Companies

The demand for thermoplastic elastomers is mainly met by global players manufacturing for various end-use applications. The major players in the thermoplastic elastomers market with a significant global presence are Arkema SA (France), Asahi Kasei Corporation (Japan), BASF SE (Germany), and Huntsman Corporation (US). The market players have adopted various strategies such as product launches, expansions, partnerships, agreements, and acquisitions to strengthen their position in the thermoplastic elastomers market.

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Arkema SA (France) is a global leader positioned in specialty chemicals and advanced materials, thereby manufacturing and selling products for consumer goods, paint & coatings, building & construction, automotive, transportation, electronics, and the energy sectors. It works through Advertisement Solutions, Advanced Materials, Coating Solutions, and Intermediates with advanced materials, providing innovative solutions such as thermoplastic elastomers. Arkema has made a name for itself in the manufacturing of high-performance materials catering to various industries in 55 countries across Europe, Asia Pacific, North America, South America, and the Middle East & Africa, with 148 production units. The company runs itself on sustainability and innovation, so that cutting-edge solutions are developed for many applications.

Asahi Kasei Corporation (Japan) is a global corporation that owns businesses that provide innovative solutions in three key sectors: materials, homes, and healthcare. The Materials category includes basic materials, performance products, electronics, and bespoke solutions. Asaflex, Tufpren, Asapren T, S.O.E., and Tuftec are some of the brands that offer thermoplastic elastomers, which are performance products. Asahi Kasei operates over 211 subsidiaries in 20 countries, giving it strong footholds in Europe, Asia Pacific, North America, South America, and the Middle East & Africa. The company usually acts with its focus on innovation and sustainability in areas of high-performance materials and solutions for industries such as automotive, electronics, and consumer goods.

BASF SE (Germany) is a global leader in chemical production, offering a diverse portfolio across six key segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition and Care, and Agricultural Solutions. Under its performance materials section, Materials comprises isocyanates, polyamides, and thermoplastic elastomers; the Chemicals segment offers petrochemicals and intermediates. Surface Technologies concentrates on catalysts and coatings, while Industrial Solutions provides additives and ingredients for industrial uses. Agricultural Solutions offers fungicides, herbicides, and seeds; Nutrition and Care offers solutions for nutrition and personal care. Present in Europe, Asia Pacific, North America, South America, the Middle East & Africa, BASF promotes sustainability and creativity in many sectors.

Huntsman Corporation (US) is a global leader in specialty chemicals, delivering innovative products for industries including transportation, construction, energy, clothing, and footwear. Operating through three segments, Polyurethanes, Advanced Materials, and Performance Products. Through its Polyurethanes section, which features brands including IROGRAN, AVALON, KRYSTALGRAN, and IROSTIC, customized for automotive, building, and footwear uses, Huntsman offers high-performance solutions including thermoplastic elastomers. Huntsman encourages sustainability and innovation through its 60 manufacturing, research and development, and operational facilities spread across 30 countries in Europe, Asia Pacific, North America, South America, and the Middle East & Africa. Its diverse portfolio and global reach enable the company to provide cutting-edge chemical solutions that meet the shifting demands of various industries.

MARKET RANKING

Market ranking is the percentage of top players in the thermoplastic elastomers market, depending on their product portfolio, geographical reach, and business strategies. The thermoplastic elastomers market is competitive, with the top companies together holding 45-50% of the overall market share. Arkema SA (France), one of the prominent players, focuses on new technologies and targets key industries like automotive and building & construction. Asahi Kasei Corporation (Japan) offers a comprehensive line of thermoplastic elastomers, which are known for their sustainability and mobility. BASF SE (Germany) maintains a broad worldwide R&D footprint and produces a wide range of TPE products, such as Elastollan TPU. Huntsman Corporation (US) manufactures high-performance TPUs like Irogran and Avalon for the industrial, automotive, and footwear markets.

Related Reports:

Thermoplastic Elastomers Market by Type (SBC, TPU, TPO, TPV, COPE, PEBA), End-use Industry (Automotive, Building & Construction, Footwear, Wire & Cable, Medical, Engineering), Region - Global Forecast to 2030