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Thermoplastic Elastomers - Global Market Trajectory & Analytics

  • ID: 4845765
  • Report
  • May 2021
  • Region: Global
  • 495 pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • Arkema Group
  • Celanese Corporation
  • Exxon Mobil Corporation
  • Kolon Plastic, Inc.
  • Kuraray America, Inc.
  • PolyOne Corporation
  • MORE

Global Thermoplastic Elastomers Market to Reach $24.2 Billion by 2026


Thermoplastic elastomers (TPEs) represent a class of advanced copolymers or physical blend of specific polymers that contain materials featuring both elastomeric and thermoplastic properties. Also known as thermoplastic rubbers, TPEs combine intrinsic advantages of plastic and rubbery materials. In contrast to most elastomers that are thermosets, thermoplastics can be easily used in manufacturing. TPEs differ from thermoset elastomers on the basis of type of the cross-linking bond in structure. Cross-linking is an important structural aspect that allows TPEs to exhibit superior elastic properties. Amid the COVID-19 crisis, the global market for Thermoplastic Elastomers estimated at US$18.9 Billion in the year 2020, is projected to reach a revised size of US$24.2 Billion by 2026, growing at a CAGR of 5.2% over the analysis period. Block Copolymers, one of the segments analyzed in the report, is projected to grow at a 5.6% CAGR to reach US$12.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Blends segment is readjusted to a revised 4.7% CAGR for the next 7-year period. This segment currently accounts for a 34.6% share of the global Thermoplastic Elastomers market.

The U.S. Market is Estimated at $5.1 Billion in 2021, While China is Forecast to Reach $4.9 Billion by 2026


The Thermoplastic Elastomers market in the U.S. is estimated at US$5.1 Billion in the year 2021. The country currently accounts for a 27.09% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$4.9 Billion in the year 2026 trailing a CAGR of 7.9% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 4.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.2% CAGR while Rest of European market (as defined in the study) will reach US$5.6 Billion by the end of the analysis period.

Growing demand for lightweight and high performance passenger cars, and increasing use of TPU (Thermoplastic Polyurethane) and TPO (Thermoplastic Olefins) as substitutes for EPDM (ethylene propylene diene monomer) in construction materials are fueling demand for TPEs. The extruded, recyclable, colored, molded and eco-friendly attributes of TPEs make them safe for use in applications such as food packaging and medical sector. Rising demand for bio-based TPEs and the growing use of TPEs in medical industry is also poised to favor market growth. Focus on new product development and innovation continues to fuel market growth, as companies continue to focus on addressing the rising demand for high performance and low cost materials from various industries. The shift from PVC to thermoplastic elastomers is in particular expected to boost market growth.

Blends Segment to Reach $8.1 Billion by 2026


Global market for Blends segment is estimated at US$6.1 Billion in 2020, and is projected to reach US$8.1 Billion by 2026 reflecting a compounded annual growth rate of 4.7% over the analysis period. United States constitutes the largest regional market for Blends segment, accounting for 28.9% of the global sales in 2020. China is poised to register the fastest compounded annual growth rate of 7.3% over the analysis period, to reach US$1.5 Billion by the close of the analysis period.

Select Competitors (Total 64 Featured) -

  • Arkema Group
  • Asahi Kasei Advance Corporation
  • BASF SE
  • Celanese Corporation
  • China Petroleum & Chemical Corporation (SINOPEC)
  • Covestro AG
  • E. I. du Pont De Nemours and Company
  • Exxon Mobil Corporation
  • Huntsman Corporation
  • Kolon Plastic, Inc.
  • KRAIBURG TPE GmbH & Co. KG
  • Kraton Corporation
  • Kuraray America, Inc.
  • LCY Chemical Corporation (LCY Group)
  • LG Chem
  • Mitsubishi Chemical Corporation
  • PolyOne Corporation
  • Royal DSM NV
  • RTP Company
  • SABIC (Saudi Basic Industries Corporation)
  • Sibur Holding PJSC
  • TARO PLAST S.p.a.
  • Teknor Apex Company
  • The Lubrizol Corporation
  • Zylog Plastalloys Pvt. Ltd.

The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Arkema Group
  • Celanese Corporation
  • Exxon Mobil Corporation
  • Kolon Plastic, Inc.
  • Kuraray America, Inc.
  • PolyOne Corporation
  • MORE
I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Thermoplastic Elastomers: An Introduction
  • Types and Properties of Commercial TPEs
  • Benefits of TPEs
  • Primary Applications of TPEs
  • Regulatory Guidelines for TPEs
  • Thermoplastic Elastomers Market: Growth Prospects and Outlook
  • Styrenic Block Copolymers (SBC): A Widely Used Thermoplastic Elastomer
  • Automotive: The Leading End-Use Market for Thermoplastic Elastomers
  • China Along with Other Asian Economies Emerge as the Largest Regional Markets
  • Global Economic Environment Influences Demand Dynamics in the TPE Market
  • Exhibit 1: Global Economic Outlook: Real GDP Growth Rates in % by Country/Region for the Years 2017 through 2020
  • Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
  • Arkema S.A. (France)
  • Asahi Kasei Corporation (Japan)
  • Covestro AG (Germany)
  • DuPont de Nemours, Inc. (USA)
  • Evonik Industries AG (Germany)
  • Huntsman International LLC (USA)
  • Kraton Corporation (USA)
  • Lubrizol Corporation (USA)
  • LyondellBasell Industries N.V. (Netherlands)
  • PolyOne Corporation (USA)
  • Teknor Apex Company (USA)
  • Tosoh Corporation (Japan)
  • Versalis S.p.A. (Italy)
3. MARKET TRENDS & DRIVERS
  • Rising Demand from Automotive Industry Presents Considerable Growth Opportunities for Thermoplastic Elastomers Market
  • Exhibit 2: Automotive Production Trends to Influence Demand for TPE: Global Passenger Cars Production (In Million Units) by Geographic Region/Country for the Years 2017, 2019 and 2022
  • Adoption of Strict Regulations to Control Emissions Augurs Well for Use of Thermoplastic Elastomers in Auto Industry
  • Growing Application of Thermoplastic Elastomers in HVAC Industry Fuels Market Prospects
  • Exhibit 3: Global HVAC Systems Market: Revenues in US$ Billion for the Years 2015-2025
  • Building & Construction: A Promising Market for TPEs
  • Increasing Replacement of EPDM in Construction Materials by TPU & TPO Bodes Well for the Market
  • Growth of World Construction Industry Higher than Global GDP, Spells Opportunities for the TPE Market
  • Exhibit 4: Projected Increase in Construction Investments Favors Roofing Market: World Construction Industry (in US$ Trillion) for the Years 2017, 2019 & 2022
  • Exhibit 5: Projected Infrastructure Investment Needed (in US$ Trillion) by Region Over the Period 2016-2040
  • TPEs Find Growing Use in Medical Industry
  • Exhibit 6: Global Medical Device Market: Revenues in US$ Billion for the Years 2019, 2021, 2023 and 2025
  • Rising Popularity of TPEs for Medical Tubing Applications
  • Exhibit 7: Global Medical Tubing Market Revenues in US$ Billion for the Years 2018, 2020 and 2022
  • Consumer Goods Industry Drives Demand for TPEs
  • TPEs Find Use in Oil & Gas Industry
  • Bio-based Thermoplastic Elastomers Offer Tremendous Potential for Growth
  • Innovations & Advancements
  • KRAIBURG Develops Thermoplastic Elastomer Hybrids
  • Thermoplastic Elastomers and Gels based on Subcomponent Metallosupramolecular Assembly
  • Tekni-Plex Announces TPE Tubing and Compounds
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

UNITED STATES

CANADA

JAPAN

CHINA

EUROPE

FRANCE

GERMANY

ITALY

UNITED KINGDOM

SPAIN

RUSSIA

REST OF EUROPE

ASIA-PACIFIC

AUSTRALIA

INDIA

SOUTH KOREA

REST OF ASIA-PACIFIC

LATIN AMERICA

ARGENTINA

BRAZIL

MEXICO

REST OF LATIN AMERICA

MIDDLE EAST

IRAN

ISRAEL

SAUDI ARABIA

UNITED ARAB EMIRATES

REST OF MIDDLE EAST

AFRICA

IV. COMPETITION
  • Total Companies Profiled: 48
Note: Product cover images may vary from those shown
  • Arkema Group
  • Asahi Kasei Advance Corporation
  • BASF SE
  • Celanese Corporation
  • China Petroleum & Chemical Corporation (SINOPEC)
  • Covestro AG
  • E. I. du Pont De Nemours and Company
  • Exxon Mobil Corporation
  • Huntsman Corporation
  • Kolon Plastic, Inc.
  • KRAIBURG TPE GmbH & Co. KG
  • Kraton Corporation
  • Kuraray America, Inc.
  • LCY Chemical Corporation (LCY Group)
  • LG Chem
  • Mitsubishi Chemical Corporation
  • PolyOne Corporation
  • Royal DSM NV
  • RTP Company
  • SABIC (Saudi Basic Industries Corporation)
  • Sibur Holding PJSC
  • TARO PLAST S.p.a.
  • Teknor Apex Company
  • The Lubrizol Corporation
  • Zylog Plastalloys Pvt. Ltd.
Note: Product cover images may vary from those shown
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