Global thermoplastic elastomers (TPE) market is expected to reach USD
19.76 billion by 2022, according to a new report by Grand View Research, Inc.
High substitution rate of thermoplastic elastomers, such as TPU and TPO, as an
alternative to ethylene propylene diene monomer (EPDM) in construction
materials is expected to drive TPE demand over the forecast period. Growing
demand for lightweight, high performance materials from automotive industry in
order to improve fuel efficiency by reducing overall weight of automobiles is
expected to fuel TPE demand over the forecast period. Volatile prices of key
raw material such as styrene, propylene and polyurethane are expected to remain
a key challenge for market participants.
SBC was the single largest product segment and accounted for 47.1% of
total market volume in 2014. Increasing demand for SIS, particularly in China
& India, in automotive applications is expected to drive the product
segment growth over the next seven years. Paving & roofing was the leading
application segment for SBC and accounted for almost 35% of the product volume
in 2014.
In depth research report
on Thermoplastic Elastomers (TPE) Market
Further key findings from
the study suggest:
•
Global thermoplastic elastomers market was 4.01 million tons in 2014 and
is expected to grow at a CAGR of 4.8% from 2015 to 2022.
•
Thermoplastic vulcanizates (TPV) is expected to witness the highest
growth of 6.7% from 2015 to 2022. Increasing demand for specialty high
performance plastics in automotive industry is expected to drive TPV demand.
•
Asia Pacific was the largest regional market and accounted for over 40%
of total consumption in 2014. The regional market is characterized by high
industrial growth as a result of favorable government policies and monetary
framework encouraging private investments in manufacturing sector. China and
India are major TPE consumers are expected to grow exponentially over the
forecast period. These two countries accounted for approximately 66% of the
regional demand in 2014.
•
North America was the leading TPO consumer and accounted for 35.5% of the
product volume in 2014. Its increasing demand in industrial & construction
applications is expected to drive the regional growth.
•
Global TPE industry is moderately concentrated with top four companies
accounting for over 45% of the overall market share in 2014. Major companies
operating globally include Arkema, Bayer MaterialScience, Dynasol Elastomers,
Evonik, Kraton and Dow Chemical Co.
Grand View Research has segmented the global thermoplastic elastomers
market on the basis of product and region:
Global Thermoplastic
Elastomers (TPE) Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012
- 2022)
•
Styrene Block Copolymers (SBC) Thermoplastic Polyurethanes (TPU)
•
Styrene Butadiene Styrene (SBS)
•
Styrene Isoprene Styrene (SIS)
•
Hydrogenated Styrene Block Copolymers (HSBC)
•
Thermoplastic Polyolefins (TPO)
•
Thermoplastic Vulcanizates (TPV)
•
Copolymer Esters (COPE)
•
Other TPE
Global Thermoplastic
Elastomers (TPE) Application Outlook (Volume, Kilo Tons; Revenue, USD Million,
2012 - 2022)
•
North America
•
U.S.
•
Europe
•
Germany
•
France
•
UK
•
Italy
•
Asia Pacific
•
China
•
India
•
Japan
•
Central & South America
•
Brazil
•
Middle East & Africa
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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