Global Thermoplastic Elastomer Market Share 2024, Forecast To 2033
8 Mar, 2024
The thermoplastic elastomer market has experienced robust growth, rising from $27.04 billion in 2023 to $28.85 billion in 2024, with a CAGR of 6.7%. This growth is attributed to factors such as the automotive industry's expansion and consumer preference for soft-touch materials. Forecasts indicate continued strong growth, with the market expected to reach $37.99 billion in 2028, boasting a CAGR of 7.1%. Key drivers include growing demand for sustainable materials and expansion of the electric vehicles market. Major trends include bio-based TPEs and integration in wearable technology.
Global Thermoplastic Elastomer Market Key Driver
The thermoplastic elastomer market is expanding due to the increasing demand for automotive components, with significant growth expected in the Indian automotive sector.
Get A Free Sample Of The Global Thermoplastic Elastomer Market ReportGlobal Thermoplastic Elastomer Market Segments
The thermoplastic elastomer market covered in this report is segmented –
1) Type:Thermoplastic Polyurethane (TPU), Styrenic Block Copolymer (TPE-S), Thermoplastic Vulcanizates, Elastomeric Alloys, Thermoplastic Copolyester, Other Types
2) Material:Poly Styrenes, Poly Olefins, Poly Ether Imides, Poly Urethanes, Poly Esters, Poly Amides
3) Application:Automotive, Building And Construction, Footwear, Wire And Cables, Medical, Engineering, Other Applications
By Geography: The countries covered in the thermoplastic elastomer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the thermoplastic elastomer market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the thermoplastic elastomer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Thermoplastic Elastomer Industry Players
China Petroleum & Chemical Corporation; ExxonMobil Chemical Company; BASF SE; Asahi Kasei Corporation; Covestro AG; DuPont de Nemours Inc.; Arkema S.A.; Huntsman Corporation; Lubrizol Corporation; Evonik Industries AG; Avient Corporation; Teknor APEX Company; TSRC Corporation; HEXPOL TPE AB; RTP Company; Nantex Industry Co. Ltd.; KRAIBURG TPE; Pinnacle Polymers LLC; Americhem Inc.; Applied Plastics Co. Inc.; Audia Elastomers; Star Thermoplastic Alloys & Rubbers Inc.; Advanced Elastomer Systems L.P.; Dynasol Elastomers LLC; TPE Solutions Inc.; Elastocon TPE Technologies Inc.; Kraton Polymers LLC; Yantai Wanhua Polyurethane Co. Ltd.; India Thermoplastics Engineers; Nippon Polyurethane Industry Company Ltd.
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Thermoplastic Elastomer Market Overview
Thermoplastic elastomers (TPEs) refer to a class of materials that combine the characteristics of thermoplastics and elastomers. They exhibit both the elasticity and flexibility of rubber-like materials (elastomers) and the processability and recyclability of thermoplastics.