Dublin, Nov. 14, 2024 (GLOBE NEWSWIRE) -- The "Thermoplastic Elastomers Market Size, Share & Trends Analysis by Application (Automotive, Industrial, Medical), Material (Poly Styrenes, Poly Olefins), and Region, 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The global thermoplastic elastomers market size is anticipated to reach USD 40.9 billion by 2030 and is expected to expand at a CAGR of 7.4% from 2024 to 2030. The automotive sector is experiencing a significant surge in TPE adoption, particularly in lightweight and fuel-efficient vehicles.
The consumer electronics industry is witnessing a surge in TPE adoption, driven by the increasing demand for advanced technologies in electronic devices. Due to their unique properties, flexibility, durability, and aesthetic appeal, TPEs are utilized in mobile phone cases, cables, connectors, and various electronic components. Additionally, the trend towards lightweight and portable electronic devices has led manufacturers to opt for TPEs, which provide a smooth finish, resistance to wear and tear, and ease of processing.
The growing focus on sustainability also influences the market, with increased demand for bio-based TPEs that support environmental protection initiatives. The Asia-Pacific region is poised to lead in TPE consumption, driven by its robust manufacturing base and rapid market growth. Technological advancements in production processes and material formulations have also improved the performance characteristics of TPEs, making them more appealing for diverse applications.
Thermoplastic Elastomers Market Report Highlights
- Based on application, the automotive sector dominated the market in 2023, accounting for 40.7% of the revenue share, fueled by the demand for TPEs in-vehicle components
- The medical industry is expected to witness the fastest growth in TPE demand with a CAGR of 9% over the forecast period, owing to the growing demand for medical devices
- Based on material, the poly styrenes segment dominated the market with a 31.6% revenue share in 2023, driven by its versatility in packaging, consumer goods, and automotive, offering a unique balance of flexibility, durability, and cost efficiency
- Poly amides are projected to grow at the fastest CAGR of 8.8% over the forecast period owing to their exceptional rigidity, flexibility, and thermal and mechanical performance in demanding environments in industrial applications
- Market players operating in the market include BASF SE; Arkema; DuPont; Covestro AG; China Petrochemical Corporation; Dynasol Elastomers; EMS-CHEMIE HOLDING AG; and Evonik Industries, among others
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments
- Competitive Landscape: Explore the market presence of key players worldwide
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions
This report addresses:
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
The leading players in the Thermoplastic Elastomers market include:
- BASF SE
- Arkema
- DuPont
- Covestro AG
- China Petrochemical Corporation
- Dynasol Elastomerss
- EMS-CHEMIE HOLDING AG
- Evonik Industries
- LG Chem
- LCY Chemical Corporation
- Lubrizol Corporation
- LyondellBasell Industries
- Tosoh Corporation
- Avient Corporation
- Teknor APEX Company
- The Dow Chemical Company
- TSRC Corporation
Key Attributes
| Report Attribute | Details |
| No. of Pages | 100 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $25.15 Billion |
| Forecasted Market Value (USD) by 2030 | $40.9 Billion |
| Compound Annual Growth Rate | 7.4% |
| Regions Covered | Global |
Key Topics Covered
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Snapshot 2023
2.2. Segment Snapshot
2.3. Segment Snapshot
2.4. Competitive Landscape Snapshot
Chapter 3. Thermoplastic Elastomers Market Variables and Trends
3.1. Market Lineage Outlook
3.1.1. Global Plastics Market Outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Raw Material Trends
3.3.1.1. Increasing Adoption of Bio-Based TPEs
3.3.1.2. High-Performance Thermoplastic Elastomers
3.3.1.3. Supply Chain Stability And Diversification
3.4. Technology Trends
3.5. Regulatory Framework
3.5.1. Price Trend Analysis, 2018-2030
3.6. Market Dynamics
3.6.1. Market Driver Analysis
3.6.1.1. Increasing Demand for Thermoplastic Elastomers from the Automotive Industry
3.6.1.2. Rising Global Demand for Consumer Electronics
3.6.2. Market Restraint Analysis
3.6.2.1. Volatile Raw Material Prices
3.6.3. Industrial Opportunity Analysis
3.6.4. Industrial Challenge Analysis
3.7. Market Business Environment Analysis
3.7.1. Industry Analysis: Porter's Five Forces Model
3.7.2. Macroeconomic Environment Analysis
Chapter 4. Thermoplastic Elastomers Market: Application Estimates & Trend Analysis
4.1. Application Movement Analysis & Market Share Volume, 2023 & 2030
4.2. Application Movement Analysis & Market Share Revenue, 2023 & 2030
4.3. Thermoplastic Elastomers Market Estimates & Forecasts, by Application (Kilotons) (USD Million)
Chapter 5. Thermoplastic Elastomers Market: Component Estimates & Trend Analysis
5.1. Material Movement Analysis & Market Share Volume, 2023 & 2030
5.2. Material Movement Analysis & Market Share Revenue, 2023 & 2030
5.3. Thermoplastic Elastomers Market Estimates & Forecasts, by Material (Kilotons) (USD Million)
Chapter 6. Thermoplastic Elastomers Market: Regional Estimates & Trend Analysis
6.1. Thermoplastic Elastomers Market: Regional Outlook
6.2. North America
6.3. Europe
6.4. Asia Pacific
6.5. Central & South America
6.6. Middle East And Africa
Chapter 7. Competitive Landscape
7.1. Recent Developments & Impact Analysis by Key Market Participants
7.2. Company Categorization
7.3. Vendor Landscape
7.4. Company Heat Map Analysis
7.5. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/7ox1a4
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