Ready Yourself for Challenges in the Time of COVID-19. Here’s What Stakeholders Need to Know About the Evolving Global Thermoplastic Elastomers Market
the global market for Thermoplastic Elastomers (TPEs) is projected to reach US$22.4 billion by 2025, driven by the growing demand for soft touch and feel products ranging from toothbrushes, home appliances to automotive interiors.
Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Thermoplastic Elastomers market. Report segmentation includes Type (Block Copolymers, Blends, and Other Types); End-Use (Automotive, Building & Construction, Medical, Consumer Goods, and Other End-Uses).
24 June 3:18 A.M., California/Marketwire/ - According to the new market research report, the global market for Thermoplastic Elastomers (TPEs) is projected to reach US$22.4 billion by 2025, driven by the growing demand for soft touch and feel products ranging from toothbrushes, home appliances to automotive interiors. Soft-touch cushion grips are a key design flavor for a wide variety of consumer products. In addition to ergonomic functionality, soft-touch handles and panels enhance aesthetic appeal, and enable product differentiation by providing a surface feel, smoothness, silkiness and texture comparable with luxury products. The tactile qualities of soft-touch products additionally enable the product to be sold at a price premium. Against this background, TPEs also known as thermoplastic rubbers are poised to witness strong demand.
A combination of plastic and rubber polymers, TPEs offer benefits such as superior aesthetics; easy colorability; easy processability similar to plastics; slip resistance; shock absorption; outstanding ozone resistance; soft texture; UV resistance; scratch resistance; superior weatherability; stretchability; longer and more durable material life; cost effective when compared to liquid silicone rubber; lightweight; flexibility and easy recyclability. Longer material life also means longer recycle times, lower energy consumption for manufacturing and less waste, all of which are valuable benefits in the current circular economy. A wide variety of TPEs are available in the market ranging from soft and jelly-like, hard, rigid, transparent, colored, glossy and matte. Popular types of TPE solutions available in the market include thermoplastic olefinic elastomer, thermoplastic polyester elastomer, thermoplastic vulcanisate, thermoplastic amide elastomer, and thermoplastic polyurethane elastomer.
With functionalities similar to vulcanized rubber, TPEs flaunt several uses that touch everyday lives of people just like rubber. From sports and leisure products such as ski boots, grips, ski poles, golf clubs, bicycle saddles, swimming fins; boots; toys; pencil grippers; household items like bowls, trays, toys, flowerpots, cushioning in orthopedic shoes to handles of exercise equipment, the application possibilities are endless. Soft-touch TPOs are rapidly replacing thermoformed PVC and slush-molded PVC supported by stringent environmental regulations curbing the use of plastics. A growing number of industrial applications are also opening up such as HVAC, automotive, oil and gas, mining, marine and medical. The automobile industry is emerging as the largest end-user supported by the growing trend of replacing commodity plastics with fire resistant TPEs.
Focus on aesthetics is leading to increased use of soft-touch thermoplastic elastomers (TPEs) in vehicle interiors such as instrument panel skins, seat backs, door trim, arm rests, handles, knobs airbag doors, and surface of the accelerator pedals. In the medical devices industry, TPE materials are growing in popularity as they allow for easy sterilization of instruments. TPEs also flaunt the potential to replace allergy causing latex. The United States and China represent large markets worldwide with a combined share of 46.6% of the market. China also ranks as the fastest growing market with a CAGR of 7.8% over the analysis period supported by the country's manufacturing dominance and the ensuing demand for high quality TPEs as a ubiquitous raw material for production.
Key Competitors Covered in the Report
Asahi Kasei Advance Corporation
China Petroleum & Chemical Corporation (SINOPEC)
E. I. du Pont De Nemours and Company
Exxon Mobil Corporation
Kolon Plastic, Inc.
KRAIBURG TPE GmbH & Co. KG
Kuraray America, Inc.
LCY Chemical Corporation (LCY Group)
Mitsubishi Chemical Corporation
Royal DSM NV
SABIC (Saudi Basic Industries Corporation)
Sibur Holding PJSC
TARO PLAST S.p.a.
Teknor Apex Company
The Lubrizol Corporation
Zylog Plastalloys Pvt. Ltd.
Geographies Analyzed in the Report
Europe (France, Germany, Italy, United Kingdom, Spain, Russia, and Rest of Europe)
Asia-Pacific (Australia, India, South Korea, and Rest of Asia-Pacific)
Latin America (Argentina, Brazil, Mexico, and Rest of Latin America)
Middle East (Iran, Israel, Saudi Arabia, United Arab Emirates, and Rest of Middle East)
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. All analysis and findings published in the report are based on validated engagements from a total executive pool size of 8056. Among this pool, 1128 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 242 unique participations, a total of 109 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world's only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.
Director, Corporate Communications
Global Industry Analysts, Inc.