Global Thermoplastic Elastomers Market 2017-2021
About Thermoplastic Elastomers
Thermoplastic elastomers (TPEs) possess both elastomeric and thermoplastic characteristics. They are produced from thermoplastics and elastomers and can be segregated based on their constituent materials. TPE can be remolded, reshaped, and recycled. Therefore, they are extensively used to replace conventional materials, such as polyvinylchloride (PVC), natural rubber, nitrile rubber (NBR), and ethylene propylene diene monomer (EPDM) in major industries, including automotive, construction and infrastructure, consumer electronics and appliances, healthcare, packaging, and footwear industries globally.
Technavio’s analysts forecast the global thermoplastic elastomers market to grow at a CAGR of 7.78% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global thermoplastic elastomers market for 2017-2021. To calculate the market size, the report analyzes business dimensions with an eye on individual growth trends and contribution of upcoming market segments
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Thermoplastic Elastomers Market 2017-2021
Technavio recognizes the following companies as the key players in the global thermoplastic elastomers market: China Petroleum & Chemical Corporation (Sinopec), Dynasol, LCY Chemical, LyondellBasell Industries, and PolyOne.
Other Prominent Vendors in the market are: Arkema, BASF, Covestro, DuPont, Evonik, Huntsman, and TSRC.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is increasing applications of thermoplastic copolyesters and TPVs. There is an increasing usage of copolyesters and TPVs over the other TPEs by automotive manufacturers in recent years. Although all types of TPEs can be used to replace natural rubber and EPDM in automotive applications, the majority of the manufacturers prefer copolyesters and TPVs over other counterparts. This is due to their superior chemical and physical properties, such as lightweight, abrasion resistance, and excellent electrical properties.”
According to the report, one of the major drivers for this market is replacement of conventional materials. TPEs are increasingly replacing conventionally used materials, such as EPDM (M-class), NBR, PVC, and conventional plastics in various applications, including automotive, electronics, healthcare, and packaging. The replacement of traditional materials with TPEs is significant in the automotive industry. Conventional materials are used in a range of applications, including sealing systems of door and window seals, and for manufacturing ancillaries of automotive interiors, such as instrument and door panels.
Further, the report states that one of the major factors hindering the growth of this market is volatile raw material prices. Constant fluctuations in the prices of raw materials used for manufacturing TPEs poses a challenge to the manufacturers. Styrene, butadiene, ethylene, and polypropylene, the major raw materials used for producing TPEs, are produced from petrochemicals, such as ethane, butane, propane, and naphtha. The price of these petrochemicals depends on the price of the crude oil.
China Petroleum & Chemical Corporation (Sinopec), Dynasol, LCY Chemical, LyondellBasell Industries, PolyOne, Arkema, BASF, Covestro, DuPont, Evonik, Huntsman, TSRC.
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