1h Free Analyst Time
The Thermoplastic Elastomer Market size was estimated at USD 35.61 billion in 2023, USD 38.18 billion in 2024, and is expected to grow at a CAGR of 7.31% to reach USD 58.39 billion by 2030. Speak directly to the analyst to clarify any post sales queries you may have.
Thermoplastic elastomers (TPE) are a versatile class of high-performance polymer materials that combine the properties of thermoplastics and elastomers. These materials offer exceptional processing flexibility, recyclability, and durability in various applications such as automotive, consumer goods, medical devices, construction, packaging, footwear, and electronics. Key growth factors driving the TPE market include increasing demand for lightweight automobile materials to enhance fuel efficiency and reduce carbon emissions, along with using TPEs in medical devices due to their biocompatibility, versatility, and sterilizability.
Moreover, rapid urbanization and growing industrialization increase demand for TPE products in construction applications such as roofing membranes and sealants. However, high manufacturing costs associated with using advanced material technologies and volatile raw material prices hinder the market's growth. However, innovation in biodegradable and biobased TPEs and increasing applications of thermoplastic elastomers across various industries due to material enhancements using advanced technologies are expected to bolster the market growth.
Regional Insights
The thermoplastic elastomer (TPE) market in the Americas has a significant landscape owing to its rising use in major industries such as automotive, construction, medical devices, consumer goods, and packaging. Significant investments by the government in infrastructure development projects have fueled the growth of TPE in the Americas. The government's strong focus on environmental regulations in the EMEA region drives demand for biodegradable TPE solutions. The policies on reducing plastic waste by the European Union have encouraged researchers to develop innovative solutions, such as thermoplastic elastomers, which have significantly contributed to the growth of the market in the region.The thermoplastic elastomers market is emerging in APAC due to rapid industrialization and its surging use in the automotive, electronics, construction, and medical devices sectors. Supportive Government initiatives are implemented in the domestic production of TPE with rising investment in research and development (R&D) activities to cater to the increasing demand for high-performance materials of TPE. The Asia-Pacific region witnessed a surge in research partnerships between local and foreign institutions to develop innovative TPE solutions.
Market Trends by Segment
- Type: Proliferating use of thermoplastic elastomer in high-performance and heat resistance applications
- End Use Industry: Growing demand for TPE in engineering and automotive industries to manufacture lightweight and durable products
Industry Insights
- Market Dynamics
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
- FPNV Positioning Matrix
- Market Share Analysis
- Strategy Analysis and Recommendations
Recent Developments
Avient Launches Automotive-Specific Grades within its reSound REC Recycled Content TPEs Portfolio
Avient Corporation has expanded its product lines for automotive interior applications by introducing two new grades of reSound REC thermoplastic elastomers. With 80 and 90 Shore A durometers, these elastomers comprise 35% or 45% post-consumer recycled (PCR) content derived from recycled food packaging. They can be customized to meet the volatile organic compounds (VOCs) and fogging standards of original equipment manufacturers (OEMs). The product series is highly suitable for a wide range of interior applications, including door mats/mat pockets, center console trays, front and rear trunk liners, and components for instrument panels and dashboards.Prism Worldwide announces the commercial availability of Ancora C-1000 Thermoplastic Elastomer, which contains 50% post-consumer recycled content derived from end-of-life tires
Prism Worldwide has introduced a thermoplastic elastomer (TPE) called Ancora C-1000. Ancora C-1000 incorporates at least 50% post-consumer recycled content sourced from end-of-life tires, aligning with IIJA Buy America requirements. Moreover, AncoraTM C-1000 significantly reduces its carbon footprint by approximately 86% compared to virgin synthetic rubber compounds. The versatility of this product makes it suitable for a wide range of applications, including automotive all-weather mats, weather stripping, and footwear, among others.Kraiburg TPE to Unveil Innovative Automotive, Medical, and Sustainable Thermoplastic Elastomers at Chinaplas 2021.
Kraiburg TPE’s newest offerings are designed with specific goals in mind. For example, their THERMOLAST M line of materials is designed for durable automotive components like gaskets or seals. This family of materials was created with a focus on maintaining performance even in demanding environments due to its excellent wear resistance, low compression set, and good temperature stability. Additionally, this family of materials can be easily processed using either injection molding or extrusion technology. Kraiburg TPE also has a range of medical-grade materials available. Their MEDIPRENE series was created with medical device manufacturers in mind and offers high transparency, optical clarity, excellent mechanical properties, and superior processing capabilities for injection molding or extrusion processes. Additionally, their MEDIPRENE series meets all USP Class VI requirements for use in medical applications, making it an ideal choice for any product that requires such certifications. Kraiburg TPE is expected to showcase several sustainable solutions at Chinaplas 2021. In particular they are introducing their ECOFLEX ECOPURE line, which is made from 100% recycled material and is certified carbon neutral according to EN ISO 14067-2013 standards. This family of materials offers excellent mechanical properties while still being eco-friendly and recyclable, so customers can reduce their environmental impact without sacrificing the performance or quality of the end product.Key Company Profiles
The report delves into recent significant developments in the Thermoplastic Elastomer Market, highlighting leading vendors and their innovative profiles. These include Arkema S.A., Asahi Kasei Corporation, Aurora Plastics, LLC, Avient Corporation, BASF SE, Biesterfeld AG, Celanese Corporation, China Petroleum & Chemical Corporation, Covestro AG, Distrupol Limited, DuPont de Nemours, Inc., Elastron Kimya Sanayi ve Ticaret A.Ş., Evonik Industries AG, Exxon Mobil Corporation, Huntsman International LLC, KRAIBURG TPE, Kraton Corporation by DL Chemical Co., Ltd., LCY Chemical Corp., Lubrizol Corporation, LyondellBasell Industries N.V., Mitsubishi Chemical Holdings Corporation, Mitsui Chemicals, Inc., Moriroku Chemicals Company, Ltd., RTP Company, Shin-Etsu Polymer Co., Ltd., SIBUR International GmbH, Teknor Apex Company, Inc., The Dow Chemical Company, Tosoh Corporation, TSRC Corporation, and Zeon Corporation.This research report offers invaluable insights into various crucial aspects of the Thermoplastic Elastomer Market:
- Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
- Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
- Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
- Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
- Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.
Additionally, the report addresses key questions to assist stakeholders in making informed decisions:
- What is the current market size and projected growth?
- Which products, segments, applications, and regions offer promising investment opportunities?
- What are the prevailing technology trends and regulatory frameworks?
- What is the market share and positioning of the leading vendors?
- What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?
Please note: For this report, the purchase of an Enterprise license allows up to ten worldwide users of an organization access to the report
Please note: This report can be updated on request. Please contact our Customer Experience team using the Ask a Question widget on our website.
With the purchase of this report at the Multi-user License or greater level, you will have access to one hour with an expert analyst who will help you link key findings in the report to the business issues you're addressing. This will need to be used within three months of purchase.
This report also includes a complimentary Excel file with data from the report for purchasers at the Site License or greater level.
Table of Contents
1. Preface
2. Research Methodology
5. Market Insights
6. Thermoplastic Elastomer Market, by Type
7. Thermoplastic Elastomer Market, by End Use Industry
8. Americas Thermoplastic Elastomer Market
9. Asia-Pacific Thermoplastic Elastomer Market
10. Europe, Middle East & Africa Thermoplastic Elastomer Market
11. Competitive Landscape
12. Competitive Portfolio
List of Figures
List of Tables
Companies Mentioned
- Arkema S.A.
- Asahi Kasei Corporation
- Aurora Plastics, LLC
- Avient Corporation
- BASF SE
- Biesterfeld AG
- Celanese Corporation
- China Petroleum & Chemical Corporation
- Covestro AG
- Distrupol Limited
- DuPont de Nemours, Inc.
- Elastron Kimya Sanayi ve Ticaret A.Ş.
- Evonik Industries AG
- Exxon Mobil Corporation
- Huntsman International LLC
- KRAIBURG TPE
- Kraton Corporation by DL Chemical Co., Ltd.
- LCY Chemical Corp.
- Lubrizol Corporation
- LyondellBasell Industries N.V.
- Mitsubishi Chemical Holdings Corporation
- Mitsui Chemicals, Inc.
- Moriroku Chemicals Company, Ltd.
- RTP Company
- Shin-Etsu Polymer Co., Ltd.
- SIBUR International GmbH
- Teknor Apex Company, Inc.
- The Dow Chemical Company
- Tosoh Corporation
- TSRC Corporation
- Zeon Corporation
Methodology
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 196 |
| Published | May 2024 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 38.18 Billion |
| Forecasted Market Value ( USD | $ 58.39 Billion |
| Compound Annual Growth Rate | 7.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 31 |
