Global Thermoplastic Elastomer Market by Application (Automotive, Medical, Construction, Industrial, Footwear, Advanced Materials, Electronics), by Product (COPE, TPV, Styrenic Block Copolymers, TPO, TPU) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Industry Insights

In 2014, the global thermoplastic elastomer industry was worth 3.82 million tonnes. The global market has seen a significant increase in consumption over the past few years. This includes various applications like footwear, construction, and consumer goods. The industry's growth is expected to be driven by an increase in demand for automotive component manufacturing. Major automotive OEMs have been forced to use polymers to replace metals and alloys by regulatory agencies.

Plastics innovation in automotive manufacturing has been driven by increasing consumer preference for lightweight and high-performance passenger cars. These factors have resulted in an increase in thermoplastics consumption for the aforementioned applications. Thermoplastic plastic elastomer, TPE, has superior chemical and physical properties than thermoset plastics. This makes it more popular for its wide range of applications. The high substitution rate of TPU & TPO in construction materials will help to meet the growing industry demand.

TPEs are eco-friendly, unique thermoplastics that can be remolded and reshaped to reduce wastage. They also offer a variety of other benefits, such as soft touch and resistance to chemicals, UV, oxidation, etc. These properties are driving rubber and other conventional plastic materials to be replaced by TPEs in the respective applications. To ensure the safety and health of consumers, several federal agencies such as FDA and US Pharmacopeia regulate product application in many end-use industries. These regulations provide guidelines for responsible product usage and affirm TPE use for commercial applications.

The U.S. The U.S. Environment Protection Agency (EPA), has established guidelines and control techniques regarding carbon emissions from different automotive vehicles. These guidelines were included in the Clean Air Act. The demand for efficient cars and machinery made from thermoplastic components of thermoplastic elastomers has increased. The demand for thermoplastic elastomers in interiors, exteriors and underhood components is expected to rise due to the rapid development of automobile markets.

Product insights

SBC, TPV and COPES were key products analyzed in the global TPE market. Each product was also segmented according to their respective uses. SBC was the most consumed product, with its demand at 1,889.2 Kilo Tons in 2014. SBS, a key SBC product, was consumed more than 70% of total product volume in 2014. The product segment is expected to grow due to rising demand in India and China for SIS over the next seven-years.

The global TPV market is expected to grow due to increased consumption of automotive under-the-hood and fascia applications. TPU's thermal and sound insulation properties are making it more popular in construction applications. In the coming seven years, TPU demand will rise due to increased energy efficiency and subsequent regulatory policies aimed towards zero-energy buildings.

The market will also benefit from the expected increase in demand for TPE within other major industries, such as medical and consumer goods. Market development will also be aided by the expected increase in industrialization in different regions. The recent market growth has been driven by rapid industrialization and the subsequent demand for plastics, synthetic lubricants and other industrial applications. Market development has been facilitated by rapid industrialization in the U.S.

Application insights

The automotive sector was the largest and accounted for more than 60% of global TPE market share in 2015. The North American market will be supported by favorable regulations regarding thermoplastics usage in automotive applications as replacements for metals or alloys. This is in addition to the growing production of passenger cars in the U.S.A. and Mexico.

The global TPE market is expected to grow due to increasing awareness about consumer safety and protection in the electronics & electrical industries. Because of their high performance, ease-of-use, soft feel, and aesthetic appeal, TPEs are well-suited for electronic and electrical applications. TPEs are not conductors of electricity. They provide insulation from heat and resistance to chemicals, and UV. This makes them ideal for electrical connections in residential and functional buildings. As a phone case cover or connector, TPU is used extensively in mobile phone manufacturing.

Regional insights

Asia Pacific thermoplastics elastomer market (TPE), accounted for more than 40% of total volume in 2014. APAC's top three consumers are China, India and Japan. They accounted for more than 85% of regional volume in 2014. The forecast period will see increased TPE demand from APAC due to the high construction and automobile industry growth in China and India, as well as increasing footwear production and electronic goods production.

North America is known for its heavy R&D, which is carried out by domestic companies to improve product quality and expand application possibilities. The region's market growth will be affected by the adoption of well-structured regulations regarding plastics consumption and disposal. Over the forecast period, North America's TPE demand will be driven by increased automotive production in the U.S. as well as the growth of the construction and consumer industries in Mexico.

Market Share in Thermoplastic Elastomer

Global market share is relatively concentrated, with the top four companies, Dow Chemical Co. Kraton Polymers and Sinopec accounting for over 47% of global total demand. Large companies are moving their manufacturing to countries with high growth potential, such as China and India, Brazil, or Southeast Asia. This shift in production is due to the high demand for TPE in these regions and favorable manufacturing conditions like easy raw material procurement, low labor costs, and low operational costs.

Zeon and Muller Kunststoffe, key manufacturers, have launched capacity expansions in China or Japan. These regions are expected to have a large number of small-scale manufacturers, which will increase competition. Mitsubishi is investing heavily in R&D to improve production by eliminating toxic ingredients (phosgene), and developing plant-based, bio-based thermoplastics elastomers.

The Report Covers Certain Segments

This report forecasts revenue growth and revenue at the global, regional and country levels. It also provides analysis of industry trends for each sub-segment from 2012 to 2022. Grand View Research segmented the global market for thermoplastic elastomer on the basis product and region.

• Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)

  • Thermoplastic Polyurethanes

  • Styrene Block Copolyme - SBC

    • Styrene Butadiene Styrene (SBS)

    • Styrene Isoprene Styrene (SIS)

    • Hydrogenated Styrene Block Copolymers, (HSBC).

  • Thermoplastic Polyolefins

  • Thermoplastic Vulcanizates

  • Copolymer Esters (COPE)

  • Other TPE

• Regional Outlook ( Volume in Kilo Tons; Revenues, USD Millions, 2012 - 2022).

  • North America

    • U.S

  • Europe

    • Germany

    • France

    • UK

    • Italy

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa

Up Market Research published a new report titled “Thermoplastic Elastomer Market research report which is segmented by Application (Automotive, Medical, Construction, Industrial, Footwear, Advanced Materials, Electronics), by Product (COPE, TPV, Styrenic Block Copolymers, TPO, TPU), By Players/Companies COPES and others such as thermoplastic polyamides & melt-processable rubber Additionally, TPV, SBC, each product has been segmented based on their respective applications SBC was the largest consumed product with its demand estimated at 18892 kilo tons in 2014 SBS is a major SBC product consumed which accounted for over 70% of the product volume in 2014 Increasing demand for SIS particularly in China and India is expected to drive the product segment growth over the next seven years”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Thermoplastic Elastomer Market Report Segments:

The market is segmented by Application (Automotive, Medical, Construction, Industrial, Footwear, Advanced Materials, Electronics), by Product (COPE, TPV, Styrenic Block Copolymers, TPO, TPU).

Thermoplastic Elastomer Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Thermoplastic Elastomer Market

Overview of the regional outlook of the Thermoplastic Elastomer Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Thermoplastic Elastomer Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Thermoplastic Elastomer Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Automotive

                2. Medical

                3. Construction

                4. Industrial

                5. Footwear

                6. Advanced Materials

                7. Electronics

                1. COPE

                2. TPV

                3. Styrenic Block Copolymers

                4. TPO

                5. TPU

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Thermoplastic Elastomer Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
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Reasons to Purchase the Thermoplastic Elastomer Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.