Global Thermoplastic Elastomers Market Overview
The global thermoplastic elastomers market was valued at USD XX million in 2016 and is forecast to grow at a CAGR of XXXX% between 2017 and 2021. Thermoplastic elastomers are a class of rubbery materials composed of natural and/or synthetic polymers that exhibit elasticity at ambient temperatures.
The primary drivers for the growth of the thermoplastic elastomers market are increasing demand from end-use industries such as automotive, food & beverage, construction, healthcare, and electronics; technological advancements in polymer synthesis; and increased adoption of innovative manufacturing processes.
But challenges such as environmental concerns over TPEs’ disposal and low performance properties in high-temperature applications are expected to restrain the growth of the thermoplastic elastomers market.
Drivers and Restraints for Global Thermoplastic Elastomers Market
The Thermoplastic Elastomers (TPE) market is projected to grow at a CAGR of XX% during the forecast period 2017-2021. The factors driving this growth include increased demand for TPE in automotive and other industrial applications owing to its high durability and heat resistance, growing awareness about the environmental benefits of using TPEs, and increasing focus on developing innovative products made from TPEs.
This report provides an in-depth analysis of the global TPE market including product overview, major regions, key vendors, market drivers and restraints. The report also covers the competitive landscape including leading players in the market.
Key vendors in the TPE market include 3M Company, JSR Corporation, and Evonik Industries.
Global Thermoplastic Elastomers Market Value Chain Analysis
The market is expected to grow at a CAGR of XXXX% during the forecast period 2020-2026. This growth is primarily driven by increasing demand for polymer composites and advanced engineering applications.
The key players in the global thermoplastic elastomers market are BASF SE, Chevron Phillips Chemical Co., Dow Corning Corp., Exxon Mobil Corporation, Mitsubishi Chemical Corporation, and Shell Chemicals Europe NV. The major regions that are expected to witness the highest growth in the thermoplastic elastomers market are North America (US & Canada), Asia Pacific (China, Japan, India), and Europe.
This report offers an in-depth analysis of the global thermoplastic elastomers market including its definition, classifications, and applications. It also covers estimated size of the market based on revenue ($ Mn) and volume (K Units). The study analyzes the latest trends and developments in this market based on Porter’s five forces model and provides insights into opportunities that could be exploited by the stakeholders.
The competitive landscape of the global thermoplastic elastomers market is analyzed in this report. It includes a detailed assessment of the key players and their competitive strategies. The study also provides a snapshot of the market shares and revenue of the leading players.
Global Thermoplastic Elastomers Market Trends
The thermoplastic elastomers market is expected to grow at a CAGR of XXXX% between 2016 and 2024. The factors that are driving this growth are increasing demand for eco-friendly materials, growing automotive industry, and increasing adoption of new technology in the manufacturing sector.
Increasing demand for eco-friendly materials is one of the key drivers of the global thermoplastic elastomers market. This is owing to environmental concerns over plastic waste generation and rising awareness about the negative impact of plastic on the environment. Adoption of new technology in the manufacturing sector is another factor that is contributing to growth in the thermoplastic elastomers market. This is because these technologies enable producers to produce high quality products using less resources, thereby helping to reduce environmental pollution. Rising automotive industry is another major factor fueling growth in the thermoplastic elastomers market. Cars are becoming more fuel efficient and lighter, necessitating a shift towards greener materials such as thermoplastic elastomers.
Some of the key players in the global thermoplastic elastomers market include BASF SE (Germany), The Dow Chemical Company (U.S.), Exxon Mobil Corporation (U.S.), Mitsubishi Chemical Corporation (Japan), and Arkema Group (France).
Thermoplastic Elastomers Market challenges and opportunities
The thermoplastic elastomers market is expected to grow at a rate of XXXX% over the next five years owing to increasing demand for products made out of this type of polymer in applications such as automobiles, medical devices, and packaging. In addition, the rise in environmental awareness is also expected to fuel the growth of the thermoplastic elastomers market.
However, some market challenges that the manufacturers face include high cost of raw materials and low thermo- properties of elastomers. The other major challenge is inadequate understanding among customers about the use of these products. Opportunities for the market players include new product launches, expansions into new markets, and developments in technology sector.
Some of the key players in the thermoplastic elastomers market are Mitsubishi Chemical Corporation (Japan), ExxonMobil Corporation (U.S.), BASF SE (Germany), Dow Chemical Company (U.S.), Henkel AG (Germany), and The Dow Chemical Company (U.S.).
Global Thermoplastic Elastomers Market Size
Thermoplastic elastomers (TPEs) are a type of polymer material with the ability to undergo a wide range of physical and chemical transformations, making them ideal for a diverse range of applications. The global thermoplastic elastomers market size was estimated to be US$ XXXX billion in 2016 and is projected to grow at a CAGR of XXXX% during 2017-2021.
The major drivers of the thermoplastic elastomers market include increasing demand from end-users in the automotive, aerospace, medical devices, and other key industrial sectors owing to their versatile properties, increasing focus on green manufacturing by various stakeholders, and growing interest in TPEs as additive materials in advanced composites. However, factors such as rising costs of raw materials and stringent environmental regulations are expected to restrain the growth of the thermoplastic elastomers market.
Some major players in the thermoplastic elastomers market include Arkema SA (France), DuPont Company (US), Eastman Kodak Company (US), Firestone Tire & Rubber Company (US), General Electric Co., Ltd. (Japan), Henkel AG & Co. KGaA (Germany), JSR Corporation (Japan), Lego Group A/S (Denmark), Mitsubishi Chemical Corporation (Japan), Pirelli & C. S.pA (Italy), Saint-Gobain Plastics Incorporated(US) , Sumit omo Corporation (Japan), and The Dow Chemical Company (US).
Conclusion Global Thermoplastic Elastomers Market
The thermoplastic elastomers (TPE) market is estimated to grow from USD XX Million in 2020 to XXXX Million by 2025, at a CAGR of XXXX%. This report presents the latest information on the current state of the TPE market and provides insights on key drivers, restraints, opportunities, and challenges. The report also evaluates recent developments in the industry and provides detailed analysis of top players across various regions.