Thermoplastic Elastomer Market by Type, End Use Industry

Description

List of Tables

[180 Pages Report] The Thermoplastic Elastomer Market size was estimated at USD 35.61 billion in 2023 and expected to reach USD 38.18 billion in 2024, at a CAGR 7.31% to reach USD 58.39 billion by 2030.

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.

KEY MARKET STATISTICS
Base Year [2023]	USD 35.61 billion
Estimated Year [2024]	USD 38.18 billion
Forecast Year [2030]	USD 58.39 billion
CAGR (%)	7.31%

Type: Proliferating use of thermoplastic elastomer in high-performance and heat resistance applications

Copolyester ether elastomers (COPE) are a class of high-performance thermoplastic elastomers that offer superior mechanical properties, superior heat and chemical resistance, and excellent durability. Polyether block amide elastomers (PEBA) are known for their flexibility and resilience at extreme temperatures, making them suitable for aerospace components and medical devices. In addition, these elastomers exhibit good hydrolytic stability and resistance to chemicals. Styrenic block copolymers (SBC) have a unique combination of high elasticity, excellent processing characteristics, and compatibility with various polymers. SBCs are widely used as thermoplastic rubber substitutes in applications such as adhesives, sealants, footwear soles, and asphalt modification. Thermoplastic polyolefins (TPO) balance processability, durability, and cost-effectiveness. TPOs are highly preferred in the automotive industry for their lightweight and recyclable nature, contributing to improved fuel efficiency. Moreover, thermoplastic polyurethanes (TPU) are versatile elastomers known for their excellent abrasion resistance, flexibility over a broad temperature range, and compatibility with various processing techniques. TPUs find applications in footwear, electronics, medical devices, and automotive components.

End Use Industry: Growing demand for TPE in engineering and automotive industries to manufacture lightweight and durable products

In the aerospace and defense industry, thermoplastic elastomers (TPEs) are preferred due to their excellent chemical resistance, low-temperature flexibility, and lightweight nature. TPEs have significant demand in the automotive industry due to their durability, recyclability, and customization potential. They are used in multiple components, such as door seals, interior trim parts, airbag covers, and under-the-hood components. The building construction sector utilizes TPEs for waterproofing membranes, window gaskets/seals, flooring materials, and pipe seals due to their weather resistance and flexibility over a wide temperature range. The medical industry uses TPEs for various applications such as catheters, syringe stoppers, and medical tubing due to their biocompatibility, sterilizability, and ease of processing. In the engineering sector, TPEs are used in industrial parts, power tools, and electronics due to their mechanical strength, electrical insulating properties, and ability to withstand harsh environments.

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.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Thermoplastic Elastomer Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Thermoplastic Elastomer Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

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.S., 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.

Market Segmentation & Coverage

This research report categorizes the Thermoplastic Elastomer Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Copolyester Ether Elastomers
- Polyether Block Amide Elastomers
- Styrenic Block Copolymer
- Thermoplastic Polyolefins
- Thermoplastic Polyurethane
- Thermoplastic Vulcanizates

End Use Industry
- Aerospace & Defense
- Automotive
- Building & Construction
- Consumer Goods & Sports
- Engineering
- Medical
- Wires & Cables

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Thermoplastic Elastomer Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Thermoplastic Elastomer Market?

3. What are the technology trends and regulatory frameworks in the Thermoplastic Elastomer Market?

4. What is the market share of the leading vendors in the Thermoplastic Elastomer Market?

5. Which modes and strategic moves are suitable for entering the Thermoplastic Elastomer Market?

Product Code: MRR-FD3F12D53C84

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising Use of Thermoplastic Elastomer in Automotive Applications
  - 5.1.1.2. Increasing Adoption of Consumer Electronics Goods
  - 5.1.1.3. Growing Investments in Building and Construction Sector for Infrastructure Development
- 5.1.2. Restraints
  - 5.1.2.1. Price Volatility Associated with Production of Thermoplastic Elastomer (TPE)
- 5.1.3. Opportunities
  - 5.1.3.1. Emerging Applications of Thermoplastic Elastomer with Material Enhancements
  - 5.1.3.2. Development of Bio-based Thermoplastic Elastomers
- 5.1.4. Challenges
  - 5.1.4.1. Limited Sustainability with Thermoplastic Elastomer (TPE) and Its Production
5.2. Market Segmentation Analysis
- 5.2.1. Type: Proliferating use of thermoplastic elastomer in high-performance and heat resistance applications
- 5.2.2. End Use Industry: Growing demand for TPE in engineering and automotive industries to manufacture lightweight and durable products
5.3. Market Trend Analysis
- 5.3.1. Burgeoning automotive and aerospace industries create significant potential for thermoplastic elastomers in the Americas
- 5.3.2. Significant emphasis on the development of bio-based thermoplastic polymers in the APAC region
- 5.3.3. Flourishing demand for thermoplastic elastomer from automotive and medical sector in EMEA region
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework Analysis

6. Thermoplastic Elastomer Market, by Type

6.1. Introduction
6.2. Copolyester Ether Elastomers
6.3. Polyether Block Amide Elastomers
6.4. Styrenic Block Copolymer
6.5. Thermoplastic Polyolefins
6.6. Thermoplastic Polyurethane
6.7. Thermoplastic Vulcanizates

7. Thermoplastic Elastomer Market, by End Use Industry

7.1. Introduction
7.2. Aerospace & Defense
7.3. Automotive
7.4. Building & Construction
7.5. Consumer Goods & Sports
7.6. Engineering
7.7. Medical
7.8. Wires & Cables

8. Americas Thermoplastic Elastomer Market

8.1. Introduction
8.2. Argentina
8.3. Brazil
8.4. Canada
8.5. Mexico
8.6. United States

9. Asia-Pacific Thermoplastic Elastomer Market

9.1. Introduction
9.2. Australia
9.3. China
9.4. India
9.5. Indonesia
9.6. Japan
9.7. Malaysia
9.8. Philippines
9.9. Singapore
9.10. South Korea
9.11. Taiwan
9.12. Thailand
9.13. Vietnam

10. Europe, Middle East & Africa Thermoplastic Elastomer Market

10.1. Introduction
10.2. Denmark
10.3. Egypt
10.4. Finland
10.5. France
10.6. Germany
10.7. Israel
10.8. Italy
10.9. Netherlands
10.10. Nigeria
10.11. Norway
10.12. Poland
10.13. Qatar
10.14. Russia
10.15. Saudi Arabia
10.16. South Africa
10.17. Spain
10.18. Sweden
10.19. Switzerland
10.20. Turkey
10.21. United Arab Emirates
10.22. United Kingdom

11. Competitive Landscape

11.1. Market Share Analysis, 2023
11.2. FPNV Positioning Matrix, 2023
11.3. Competitive Scenario Analysis
- 11.3.1. Avient Launches Automotive-Specific Grades within its reSound REC Recycled Content TPEs Portfolio
- 11.3.2. 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
- 11.3.3. Kraiburg TPE to Unveil Innovative Automotive, Medical, and Sustainable Thermoplastic Elastomers at Chinaplas 2021.
- 11.3.4. Covestro's Plans to Construct the Largest Thermoplastic Polyurethanes Site in North America
- 11.3.5. Eastman and Exolon Group Collaboration to Enhance Rigid Medical Packaging.
- 11.3.6. Teknor Apex and UBQ Partnered on Sustainable Thermoplastic Elastomer Solutions.
- 11.3.7. Nexeo Plastics to Distribute Teknor Apex Portfolio of Thermoplastic Elastomers in Europe
- 11.3.8. Hexpol TPE Launches Medical Mass Balance Thermoplastic Elastomers.
- 11.3.9. Avient Announces Industry-First Carbon Negative and Carbon Neutral Thermoplastic Elastomers.
- 11.3.10. On April 20th, 2021 the European Union (EU) approved Celanese Corporation's acquisition of Dupont Engineering Polymers.
- 11.3.11. Audia Elastomers Opens New Manufacturing Facility in Changshu, China.
- 11.3.12. Aurora Plastics and Enviroplas Announced Merger.
- 11.3.13. Novoloop Partners with On to Introduce the World's First Chemically Upcycled TPU Outsole in Cloudprime.
- 11.3.14. Mitsubishi Chemical Acquired Thermoplastic Elastomer Business.
- 11.3.15. The Future of Thermoplastic Elastomers is Here!
- 11.3.16. Novoloop Extends Series A Round to USD 21M.
- 11.3.17. Avient Expands Resound TPE Portfolio.

12. Competitive Portfolio

12.1. Key Company Profiles
12.2. Key Product Portfolio