Thermoplastic Elastomers Market Overview:
Based on end-use industry, the global thermoplastic elastomers market has been divided into automotive, building and construction, footwear, home appliances, healthcare, and others. The automotive industry segment is expected to account for the largest share of the global thermoplastic elastomers market during the forecast period.
TPE is applicable in the manufacturing of various vehicle components such as fuel line coverings, side bumpers, mudguard components, air vents, door handles, door weather strips, and others. Rapid industrialization and urbanization are fueling the demand for passenger and transportation vehicles, which is expected to drive the growth of the thermoplastic elastomers market during the assessment period.
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Thermoplastic Elastomers Market Key Players:
Some of the prominent players in the global thermoplastic elastomers market are Timco Rubber (US), Arkema (France), Huntsman International LLC (US), the Dow Chemical Company (US), RTP Company (US), Covestro AG (Germany), Kraiburg TPE GmbH & Co. KG (Germany), Tosoh Corporation (Japan), the Lubrizol Corporation (US), Teknor Apex (US), Kent Elastomer Products (US), Altana AG (Germany), JSR Corporation (Japan), and Elastron Kimya SAN. TİC. AŞ (Turkey).
Thermoplastic Elastomers Market Segmentation:
The global thermoplastic elastomers market has been classified based on product, end-use industry, and region.
Based on product, the global thermoplastic elastomers market has been divided into vulcanizate, styrenic block copolymer, polyurethane, polyamide, olefin, and others.
By end-use industry, the global thermoplastic elastomers market has been segregated into automotive, building and construction, footwear, home appliances, healthcare, and others.
Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa are the five regions studied for the global thermoplastic elastomers market.
Thermoplastic Elastomers Market Regional Analysis:
The global thermoplastic elastomers market has been studied with respect to five regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. In 2017, Asia-Pacific accounted for the largest share of the global thermoplastic elastomers market owing to the high product demand in the automotive and footwear industries. The expanding global population and rapid industrialization are expected to be the key factors powering product demand in this region. Furthermore, the robust growth of the building and construction industry is expected to propel the regional market growth during the forecast period.
The US is projected to be the leading market for TPEs in North America. This can be attributed to the large number of automotive production plants, use of biodegradable products, and advancements in the healthcare sector. The need for sustainability and efficiency of vehicles and the increasing product demand in electrical applications are likely to drive the growth of the regional market in Europe.
Lastly, the markets in Latin America and the Middle East & Africa are projected to witness significant growth during the forecast period.
Thermoplastic Elastomers Market Table of Content to be Continue…….,
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