Thermoplastic Elastomer (TPE) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Publisher Fortune Business Insights Pvt. Ltd.

Published May 01, 2025

Length 100 Pages

SKU # FOB20106881

Description

Growth Factors of Thermoplastic Elastomer (TPE) Market

The global Thermoplastic Elastomer (TPE) market is experiencing significant growth, driven by its versatile applications across various industries such as automotive, medical, electronics, and consumer goods. TPEs combine the processing advantages of thermoplastics with the performance characteristics of elastomers, making them ideal for a wide range of applications.

Market Overview and Forecast

The TPE market was valued at approximately USD 26.86 billion in 2019 and is projected to reach USD 39.42 billion by 2027, exhibiting a compound annual growth rate (CAGR) of 5.7% . This growth is attributed to the increasing demand for lightweight, durable, and recyclable materials across various industries.

Key Drivers of Market Growth

1. Automotive Industry Demand: The automotive sector is a significant contributor to the TPE market, utilizing these materials for interior and exterior components due to their lightweight and durable properties. The shift towards electric vehicles (EVs) further accelerates the demand for TPEs, as they offer solutions for lightweighting and enhanced performance.

2. Medical Applications: TPEs are increasingly used in the medical industry for manufacturing components such as tubing, seals, and gaskets. Their biocompatibility and ease of sterilization make them suitable for medical devices, contributing to the market's growth.

3. Consumer Goods and Electronics: The demand for soft-touch materials in consumer electronics and household goods is driving the adoption of TPEs. Their versatility allows for applications in various products, enhancing user experience and product performance.

Market Segmentation

The TPE market is segmented based on type, application, and region:

By Type:

Styrenic Block Copolymers (TPE-S): Dominant in the market due to their excellent processability and versatility.

Thermoplastic Polyurethanes (TPU): Known for their abrasion resistance and flexibility, widely used in automotive and medical applications.

Thermoplastic Vulcanizates (TPV): Gaining popularity for their high-temperature resistance and recyclability.

By Application:

Automotive: Leading application segment, driven by the need for lightweight and durable materials.

Medical: Growing demand for TPEs in medical devices and equipment.

Consumer Goods and Electronics: Increasing adoption in various products requiring soft-touch and durable materials.

By Region:

Asia-Pacific: Dominates the market with a significant share, driven by manufacturing hubs in countries like China and India.

North America and Europe: Steady growth due to technological advancements and demand for high-performance materials.

Challenges and Opportunities

While the TPE market presents numerous growth opportunities, it also faces challenges such as raw material price volatility and competition from alternative materials. However, ongoing research and development efforts are focused on enhancing the properties of TPEs, including improving their heat resistance and expanding their applications in various industries.

Conclusion

The Thermoplastic Elastomer market is poised for substantial growth, driven by technological advancements and increasing demand across various sectors. As industries continue to seek sustainable and high-performance materials, TPEs offer a promising solution, positioning themselves as a key component in the development of future products and technologies.

ATTRIBUTE DETAILS

Study Period 2016-2027

Base Year 2019

Forecast Period 2020-2027

Historical Period 2016-2018

Unit Value (USD Million); Volume (Kiloton)

By Type Styrenic Block Copolymers

Thermoplastic Polyurethane

Thermoplastic Vulcanizates

Thermoplastic Polyolefins

Copolyester elastomers

Others

By Application

Automotive

Building & Construction

Footwear

Electrical & Electronics

Medical

Others

By Geography

North America (By Type, Application, and By Country)

U.S. (By Application)

Canada (By Application)

Europe (By Type, Application, and By Country)

Germany (By Application)

France (By Application)

UK (By Application)

Italy (By Application)

Spain (By Application)

Rest of Europe (By Application)

Asia Pacific (By Type, Application, and By Country)

China (By Application)

India (By Application)

Japan (By Application)

South Korea (By Application)

Rest of Asia Pacific (By Application)

Latin America (By Type, Application, and By Country)

Brazil (By Application)

Argentina (By Application)

Rest of Latin America (By Application)

The Middle East & Africa (By Type, Application, and By Country)

Saudi Arabia (By Application)

South Africa (By Application)

Rest of Middle East & Africa (By Application)

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1. Introduction: 1.1. Research Scope; 1.2. Market Segmentation; 1.3. Research Methodology; 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics: 3.1. Market Drivers; 3.2. Market Restraints; 3.3. Market Opportunities
4. Key Insights: 4.1. Key Emerging Trends – For Major Countries; 4.2. Key Developments: Mergers, Acquisition, Partnership, etc.; 4.3. Latest Technological Advancement; 4.4. Insights on Regulatory Scenario; 4.5. Porters Five Forces Analysis
5. Qualitative Insights – Impact of COVID-19 on Global Thermoplastic Elastomer Market: 5.1. Supply Chain Challenges; 5.2. Steps taken by Government/Companies to overcome this impact; 5.3. Potential opportunities due to COVID-19 outbreak
6. Global Thermoplastic Elastomer Market Analysis, Insights and Forecast, 2016-2027: 6.1. Key Findings / Summary; 6.2. Market Size Estimates and Forecast; 6.2.1. By Type (Volume/Value); 6.2.1.1. Styrenic Block Copolymers; 6.2.1.2. Thermoplastic Polyurethane; 6.2.1.3. Thermoplastic Vulcanizates; 6.2.1.4. Thermoplastic Polyolefins; 6.2.1.5. Copolyester elastomers; 6.2.1.6. Others; 6.2.2. By Application (Volume/Value); 6.2.2.1. Automotive; 6.2.2.2. Building & Construction; 6.2.2.3. Footwear; 6.2.2.4. Electrical & Electronics; 6.2.2.5. Medical; 6.2.2.6. Others; 6.2.3. By Region (Volume/Value); 6.2.3.1. North America; 6.2.3.2. Europe; 6.2.3.3. Asia Pacific; 6.2.3.4. Latin America; 6.2.3.5. Middle East & Africa
7. North America Thermoplastic Elastomer Market Analysis, Insights and Forecast, 2016-2027: 7.1. Key Findings / Summary; 7.2. Market Size Estimates and Forecast; 7.2.1. By Type (Volume/Value); 7.2.1.1. Styrenic Block Copolymers; 7.2.1.2. Thermoplastic Polyurethane; 7.2.1.3. Thermoplastic Vulcanizates; 7.2.1.4. Thermoplastic Polyolefins; 7.2.1.5. Copolyester elastomers; 7.2.1.6. Others; 7.2.2. By Application (Volume/Value); 7.2.2.1. Automotive; 7.2.2.2. Building & Construction; 7.2.2.3. Footwear; 7.2.2.4. Electrical & Electronics; 7.2.2.5. Medical; 7.2.2.6. Others; 7.2.3. By Country (Volume/Value); 7.2.3.1. U.S.; 7.2.3.1.1. By Application (Volume/Value); 7.2.3.1.1.1. Automotive; 7.2.3.1.1.2. Building & Construction; 7.2.3.1.1.3. Footwear; 7.2.3.1.1.4. Electrical & Electronics; 7.2.3.1.1.5. Medical; 7.2.3.1.1.6. Others; 7.2.3.2. Canada; 7.2.3.2.1. By Application (Volume/Value); 7.2.3.2.1.1. Automotive; 7.2.3.2.1.2. Building & Construction; 7.2.3.2.1.3. Footwear; 7.2.3.2.1.4. Electrical & Electronics; 7.2.3.2.1.5. Medical; 7.2.3.2.1.6. Others
8. Europe Thermoplastic Elastomer Market Analysis, Insights and Forecast, 2016-2027: 8.1. Key Findings / Summary; 8.2. Market Size Estimates and Forecast; 8.2.1. By Type (Volume/Value); 8.2.1.1. Styrenic Block Copolymers; 8.2.1.2. Thermoplastic Polyurethane; 8.2.1.3. Thermoplastic Vulcanizates; 8.2.1.4. Thermoplastic Polyolefins; 8.2.1.5. Copolyester elastomers; 8.2.1.6. Others; 8.2.2. By Application (Volume/Value); 8.2.2.1. Automotive; 8.2.2.2. Building & Construction; 8.2.2.3. Footwear; 8.2.2.4. Electrical & Electronics; 8.2.2.5. Medical; 8.2.2.6. Others; 8.2.3. By Country (Volume/Value); 8.2.3.1. Germany; 8.2.3.1.1. By Application (Volume/Value); 8.2.3.1.1.1. Automotive; 8.2.3.1.1.2. Building & Construction; 8.2.3.1.1.3. Footwear; 8.2.3.1.1.4. Electrical & Electronics; 8.2.3.1.1.5. Medical; 8.2.3.1.1.6. Others; 8.2.3.2. France; 8.2.3.2.1. By Application (Volume/Value); 8.2.3.2.1.1. Automotive; 8.2.3.2.1.2. Building & Construction; 8.2.3.2.1.3. Footwear; 8.2.3.2.1.4. Electrical & Electronics; 8.2.3.2.1.5. Medical; 8.2.3.2.1.6. Others; 8.2.3.3. UK; 8.2.3.3.1. By Application (Volume/Value); 8.2.3.3.1.1. Automotive; 8.2.3.3.1.2. Building & Construction; 8.2.3.3.1.3. Footwear; 8.2.3.3.1.4. Electrical & Electronics; 8.2.3.3.1.5. Medical; 8.2.3.3.1.6. Others; 8.2.3.4. Italy; 8.2.3.4.1. By Application (Volume/Value); 8.2.3.4.1.1. Automotive; 8.2.3.4.1.2. Building & Construction; 8.2.3.4.1.3. Footwear; 8.2.3.4.1.4. Electrical & Electronics; 8.2.3.4.1.5. Medical; 8.2.3.4.1.6. Others; 8.2.3.5. Spain; 8.2.3.5.1. By Application (Volume/Value); 8.2.3.5.1.1. Automotive; 8.2.3.5.1.2. Building & Construction; 8.2.3.5.1.3. Footwear; 8.2.3.5.1.4. Electrical & Electronics; 8.2.3.5.1.5. Medical; 8.2.3.5.1.6. Others; 8.2.3.6. Rest of Europe; 8.2.3.6.1. By Application (Volume/Value); 8.2.3.6.1.1. Automotive; 8.2.3.6.1.2. Building & Construction; 8.2.3.6.1.3. Footwear; 8.2.3.6.1.4. Electrical & Electronics; 8.2.3.6.1.5. Medical; 8.2.3.6.1.6. Others
9. Asia-Pacific Thermoplastic Elastomer Market Analysis, Insights and Forecast, 2016-2027: 9.1. Key Findings / Summary; 9.2. Market Size Estimates and Forecast; 9.2.1. By Type (Volume/Value); 9.2.1.1. Styrenic Block Copolymers; 9.2.1.2. Thermoplastic Polyurethane; 9.2.1.3. Thermoplastic Vulcanizates; 9.2.1.4. Thermoplastic Polyolefins; 9.2.1.5. Copolyester elastomers; 9.2.1.6. Others; 9.2.2. By Application (Volume/Value); 9.2.2.1. Automotive; 9.2.2.2. Building & Construction; 9.2.2.3. Footwear; 9.2.2.4. Electrical & Electronics; 9.2.2.5. Medical; 9.2.2.6. Others; 9.2.3. By Country (Volume/Value); 9.2.3.1. China; 9.2.3.1.1. By Application (Volume/Value); 9.2.3.1.1.1. Automotive; 9.2.3.1.1.2. Building & Construction; 9.2.3.1.1.3. Footwear; 9.2.3.1.1.4. Electrical & Electronics; 9.2.3.1.1.5. Medical; 9.2.3.1.1.6. Others; 9.2.3.2. India; 9.2.3.2.1. By Application (Volume/Value); 9.2.3.2.1.1. Automotive; 9.2.3.2.1.2. Building & Construction; 9.2.3.2.1.3. Footwear; 9.2.3.2.1.4. Electrical & Electronics; 9.2.3.2.1.5. Medical; 9.2.3.2.1.6. Others; 9.2.3.3. Japan; 9.2.3.3.1. By Application (Volume/Value); 9.2.3.3.1.1. Automotive; 9.2.3.3.1.2. Building & Construction; 9.2.3.3.1.3. Footwear; 9.2.3.3.1.4. Electrical & Electronics; 9.2.3.3.1.5. Medical; 9.2.3.3.1.6. Others; 9.2.3.4. South Korea; 9.2.3.4.1. By Application (Volume/Value); 9.2.3.4.1.1. Automotive; 9.2.3.4.1.2. Building & Construction; 9.2.3.4.1.3. Footwear; 9.2.3.4.1.4. Electrical & Electronics; 9.2.3.4.1.5. Medical; 9.2.3.4.1.6. Others; 9.2.3.5. Rest of Asia Pacific; 9.2.3.5.1. By Application (Volume/Value); 9.2.3.5.1.1. Automotive; 9.2.3.5.1.2. Building & Construction; 9.2.3.5.1.3. Footwear; 9.2.3.5.1.4. Electrical & Electronics; 9.2.3.5.1.5. Medical; 9.2.3.5.1.6. Others
10. Latin America Thermoplastic Elastomer Market Analysis, Insights and Forecast, 2016-2027: 10.1. Key Findings / Summary; 10.2. Market Size Estimates and Forecast; 10.2.1. By Type (Volume/Value); 10.2.1.1. Styrenic Block Copolymers; 10.2.1.2. Thermoplastic Polyurethane; 10.2.1.3. Thermoplastic Vulcanizates; 10.2.1.4. Thermoplastic Polyolefins; 10.2.1.5. Copolyester elastomers; 10.2.1.6. Others; 10.2.2. By Application (Volume/Value); 10.2.2.1. Automotive; 10.2.2.2. Building & Construction; 10.2.2.3. Footwear; 10.2.2.4. Electrical & Electronics; 10.2.2.5. Medical; 10.2.2.6. Others; 10.2.3. By Country (Volume/Value); 10.2.3.1. Brazil; 10.2.3.1.1. By Application (Volume/Value); 10.2.3.1.1.1. Automotive; 10.2.3.1.1.2. Building & Construction; 10.2.3.1.1.3. Footwear; 10.2.3.1.1.4. Electrical & Electronics; 10.2.3.1.1.5. Medical; 10.2.3.1.1.6. Others; 10.2.3.2. Argentina; 10.2.3.2.1. By Application (Volume/Value); 10.2.3.2.1.1. Automotive; 10.2.3.2.1.2. Building & Construction; 10.2.3.2.1.3. Footwear; 10.2.3.2.1.4. Electrical & Electronics; 10.2.3.2.1.5. Medical; 10.2.3.2.1.6. Others; 10.2.3.3. Rest of Latin America; 10.2.3.3.1. By Application (Volume/Value); 10.2.3.3.1.1. Automotive; 10.2.3.3.1.2. Building & Construction; 10.2.3.3.1.3. Footwear; 10.2.3.3.1.4. Electrical & Electronics; 10.2.3.3.1.5. Medical; 10.2.3.3.1.6. Others
11. Middle East & Africa Thermoplastic Elastomer Market Analysis, Insights and Forecast, 2016-2027: 11.1. Key Findings / Summary; 11.2. Market Size Estimates and Forecast; 11.2.1. By Type (Volume/Value); 11.2.1.1. Styrenic Block Copolymers; 11.2.1.2. Thermoplastic Polyurethane; 11.2.1.3. Thermoplastic Vulcanizates; 11.2.1.4. Thermoplastic Polyolefins; 11.2.1.5. Copolyester elastomers; 11.2.1.6. Others; 11.2.2. By Application (Volume/Value); 11.2.2.1. Automotive; 11.2.2.2. Building & Construction; 11.2.2.3. Footwear; 11.2.2.4. Electrical & Electronics; 11.2.2.5. Medical; 11.2.2.6. Others; 11.2.3. By Country (Volume/Value); 11.2.3.1. Saudi Arabia; 11.2.3.1.1. By Application (Volume/Value); 11.2.3.1.1.1. Automotive; 11.2.3.1.1.2. Building & Construction; 11.2.3.1.1.3. Footwear; 11.2.3.1.1.4. Electrical & Electronics; 11.2.3.1.1.5. Medical; 11.2.3.1.1.6. Others; 11.2.3.2. South Africa; 11.2.3.2.1. By Application (Volume/Value); 11.2.3.2.1.1. Automotive; 11.2.3.2.1.2. Building & Construction; 11.2.3.2.1.3. Footwear; 11.2.3.2.1.4. Electrical & Electronics; 11.2.3.2.1.5. Medical; 11.2.3.2.1.6. Others; 11.2.3.3. Rest of Middle East & Africa; 11.2.3.3.1. By Application (Volume/Value); 11.2.3.3.1.1. Automotive; 11.2.3.3.1.2. Building & Construction; 11.2.3.3.1.3. Footwear; 11.2.3.3.1.4. Electrical & Electronics; 11.2.3.3.1.5. Medical; 11.2.3.3.1.6. Others
12. Competitive Matrix: 12.1. Business Strategies Adopted by Leading Players; 12.2. Global Thermoplastic Elastomer Market Revenue Share/Ranking Analysis, By Key Manufacturer
13. Company Profiles: 13.1. Arkema SA (Colombes, France); 13.1.1. Overview; 13.1.2. Description; 13.1.3. Product Portfolio; 13.1.4. Financials (Data as available in public domain and/or on paid databases); 13.1.5. Recent Developments; 13.2. Covestro AG (Leverkusen, Germany); 13.2.1. Overview; 13.2.2. Description; 13.2.3. Product Portfolio; 13.2.4. Financials (Data as available in public domain and/or on paid databases); 13.2.5. Recent Developments; 13.3. Evonik Industries AG (Essen, Germany); 13.3.1. Overview; 13.3.2. Description; 13.3.3. Product Portfolio; 13.3.4. Financials (Data as available in public domain and/or on paid databases); 13.3.5. Recent Developments; 13.4. Teknor APEX Company (Rhode Island, U.S.); 13.4.1. Overview; 13.4.2. Description; 13.4.3. Product Portfolio; 13.4.4. Financials (Data as available in public domain and/or on paid databases); 13.4.5. Recent Developments; 13.5. BASF SE (Ludwigshafen, Germany); 13.5.1. Overview; 13.5.2. Description; 13.5.3. Product Portfolio; 13.5.4. Financials (Data as available in public domain and/or on paid databases); 13.5.5. Recent Developments; 13.6. Huntsman Corporation (Texas, U.S.); 13.6.1. Overview; 13.6.2. Description; 13.6.3. Product Portfolio; 13.6.4. Financials (Data as available in public domain and/or on paid databases); 13.6.5. Recent Developments; 13.7. Sinopec Group (Beijing, China); 13.7.1. Overview; 13.7.2. Description; 13.7.3. Product Portfolio; 13.7.4. Financials (Data as available in public domain and/or on paid databases); 13.7.5. Recent Developments; 13.8. Lubrizol Corporation (Ohio, U.S.); 13.8.1. Overview; 13.8.2. Description; 13.8.3. Product Portfolio; 13.8.4. Financials (Data as available in public domain and/or on paid databases); 13.8.5. Recent Developments; 13.9. Kraton Corporation (Texas, U.S.); 13.9.1. Overview; 13.9.2. Description; 13.9.3. Product Portfolio; 13.9.4. Financials (Data as available in public domain and/or on paid databases); 13.9.5. Recent Developments; 13.10. Tosoh Corporation (Tokyo, Japan); 13.10.1. Overview; 13.10.2. Description; 13.10.3. Product Portfolio; 13.10.4. Financials (Data as available in public domain and/or on paid databases); 13.10.5. Recent Developments; 13.11. Other Key Players; 13.11.1. Overview; 13.11.2. Description; 13.11.3. Product Portfolio; 13.11.4. Financials (Data as available in public domain and/or on paid databases); 13.11.5. Recent Developments
14. Appendix

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