Dublin, March 15, 2023 (GLOBE NEWSWIRE) -- Maximize Market research, a global Material & Chemical market research firm, has published competitive intelligence and market research report on “Thermoplastic Elastomers Market“. The Thermoplastic Elastomers market size was valued at USD 23.19 Bn in 2021. The total Thermoplastic Elastomers Market revenue is expected to grow at a CAGR of 6.5 percent from 2022 to 2029, reaching USD 38.38 Bn during the forecast period.
| Market Size in 2021 | USD 23.19 Bn |
| Market Size in 2029 | USD 38.38 Bn |
| CAGR | 6.5 percent (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 265 |
| No. of Tables | 120 |
| No. of Charts and Figures | 130 |
| Segment Covered | Material Type and End-Use |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Thermoplastic Elastomers Market Methodology
The report on Thermoplastic Elastomers Market includes the market size and growth rate along with a thorough regional analysis, competitive landscape and segment-wise analysis of the industry. Key insights provided by the report include the major drivers of the Thermoplastic Elastomers Market, the challenges faced by the market participants and growth prospects in the Thermoplastic Elastomers industry across the globe.
Regional analysis of the Thermoplastic Elastomers Market is conducted at country, regional and global level. This helps client gain insights into the market penetration of Thermoplastic Elastomers by region along with factors affecting the same in the Thermoplastic Elastomers market. The report also include micro-level Market dominance by region to gain a micro level understanding of the Thermoplastic Elastomers Market. Segment-wise analysis of the Thermoplastic Elastomers is conducted by Material Type and End Use.
Data for the analysis was collected using primary and secondary research methods for Thermoplastic Elastomers Market report. Primary research includes surveys, questionnaires and telephonic interviews while secondary research includes journals, white papers, government sites and paid & unpaid databases. Qualitative and quantitative methods of analysis were used in the report to draw inferences from the data collected. Tools such as SWOT, PESTLE and Porter’s Five Force analysis were used for analysing the Thermoplastic Elastomers Market.
Thermoplastic Elastomers Market Overview
Thermoplastic Elastomers is also known as thermoplastic rubbers, is a class of copolymers that consist of materials with both thermoplastic and elastomeric properties. Most elastomers are thermosets thermoplastics are in contrast and easy to use in manufacturing of injection moulding. Thermoplastic Elastomers are widely utilized in the automobile sector for car tyres and other auto parts.
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Increasing demand for lightweight vehicles is expected to influence the Thermoplastic Elastomers Market growth
Demand for lightweight vehicles from the consumers in the automotive industry and increasing population is contributing to the growth of Thermoplastic Elastomers Market. Thermoplastic Elastomers are used for applications such as wipers, door, exterior filler panels, and others. Rising focus on energy-efficient buildings with efficient and cost-effective alternatives to competitive materials is expected to influence the market Thermoplastic Elastomers market growth. Growing penetration of Electric vehicles due to high performance characteristics as compared to traditional metals are factor responsible for the Thermoplastic Elastomers market growth.
High cost of Thermoplastic Elastomers and fluctuations in prices of raw material is expected to restrain the Thermoplastic Elastomers market growth. Intra thermoplastic elastomers is expected to be the challenging factor for the Thermoplastic Elastomers market growth.
Asia Pacific region is expected to dominate the Thermoplastic Elastomers market over the forecast period
Asia Pacific region is world’s largest automobile manufacturing hub accounting 60 percent of global output. China and India are the region's fastest-growing economies and are known as manufacturing powerhouses. Growth in construction sector and automotive industry in the region is expected to boost the regional Thermoplastic Elastomers market growth.
European region is expected to influence the Thermoplastic Elastomers market over the forecast period. Several macroeconomic variables such as the debt crisis, rising unemployment, and stalled industrial production are expected to drive the regional Thermoplastic Elastomers market.
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Thermoplastic Elastomers Market Segmentation
Based on Material Type, Styrenic Block Copolymers segment is expected to dominate the Thermoplastic Elastomers Market over the forecast period
Styrenic Block Copolymers in the Thermoplastic Elastomers Market held the largest market revenue accounting 36.1 percent in 2021. Styrenic Block Copolymers is the highest consumed material in 2021. Consumers demand from industries such as automotive, construction, footwear, and many more are having demand for the Styrenic Block Copolymers.
Thermoplastic Vulcanizates segment in Thermoplastic Elastomers Market is expected to grow at fastest growth rate over the forecast period. Expansion of automotive industry is expected to fuel the Thermoplastic Vulcanizates segment growth.
Based on End Use, Automotive segment is expected to drive the Thermoplastic Elastomers Market
Increasing demand for lightweight vehicles and technological advancement in the industry is expected to influence the automotive segment growth in the Thermoplastic Elastomers Market.
Electrical & Electronics is expected to contribute to the Thermoplastic Elastomers Market growth due to rising application of wiring and cables for commercial buildings and household structure.
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By Material Type:
- Styrenic Block Copolymers
- Thermoplastic Polyurethanes
- Thermoplastic Polyolefins
- Thermoplastic Vulcanizates
- Copolyester Ether Elastomers
By End-Use:
- Automotive
- Electrical & Electronics
- Industrial
- Medical
- Consumer Goods
- Others
Thermoplastic Elastomers Market Key Players include:
- Arkema SA(France)
- Asahi Kasei Corporation(Japan)
- Zeon Corporation(Japan)
- Yantai Wanhua Polyurethane Co. Ltd.(China)
- China Petrochemical Corporation(China)
- Sinopec Group(China)
- Kraton Corporation(US)
- Huntsman International LLC.(US)
- The Dow Chemical Company(US)
- Teknor Apex Company(US)
- Celanese Corporation(US)
- Advanced Elastomer Systems L.P.(US)
- Lubrizol Corporation(US)
- PolyOne Corporation(US)
- LyondellBasell Industries N.V.(Netherlands)
- Tosoh Corporation(Japan)
- Apar Industries Ltd( India)
- Muller Kunststoffe(Germany)
- BASF SE(Germany)
- Covestro AG(Germany)
- Evonik Industries AG(Germany)
- Bayer Material Science LLC(Germany)
Apar Industries Ltd (India):
APAR is a future-driven brand due to their technical expertise constantly searching new and high quality polymer compounds. Thermoplastic Vulcanizates, which is fully cured EPDM rubber particles are coated and dispersed in PP matrices and this segment made APAR different from others. The total revenue of the company in year 2022 is USD 1.13 Bn.
Kraton Corporation (US):
Kraton is committed to safe and socially responsible operations. They continuously work to improve their products and processes with the goal of reducing their emissions and customers’ environmental footprint. The total annual revenue of the company is USD 1.97 Bn.
Key questions answered in the Thermoplastic Elastomers market are:
- What is Thermoplastic Elastomers?
- What was the Thermoplastic Elastomers market size in 2021?
- What is the forecast period of Thermoplastic Elastomers market?
- What will be the Thermoplastic Elastomers s market size by 2029?
- What is the growth rate of the Thermoplastic Elastomers Market?
- Which factors are expected to influence the Thermoplastic Elastomers Market growth?
- What factors are expected to hamper the Thermoplastic Elastomers Market growth?
- Which segment dominated the Thermoplastic Elastomers Market growth?
- What is the demand pattern for the Thermoplastic Elastomers market?
- Which region held the largest share in the Thermoplastic Elastomers market?
- Who are the key players in the Thermoplastic Elastomers market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by Material Type and End-Use
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Material & Chemical research firm, has also published the following reports:
Thermoplastic Polyamide Elastomers Market: The total market size is expected to grow at a CAGR of 5.7 percent during the forecast period and is expected to reach USD 2.87 Bn by 2029. Use of Thermoplastic Polyamide Elastomers in architecture, automotive, electronics & electrical, medical, sports accessories, home appliances and industrial sectors is expected to drive the market growth.
Thermoplastic Polyolefin Market: The total market size is expected to grow at a CAGR of 7.2 percent during the forecast period and is expected to reach USD 6.36 Bn by 2029. Increasing demand for the elastomer in making a variability of exterior and interior automotive parts is expected to drive the market growth.
Polyurethane Elastomers Market: The total market size was valued at USD 2.11 Bn in 2021 and is expected to reach USD 3.26 Bn by 2029, at a CAGR of 5.6 percent during a forecast period. Automobile industry is the main consumer of polyurethane elastomers and is expected to influence the market growth.
Automotive Elastomers Market: The total market size was valued at USD 59.52 Bn in 2022 and is expected to reach USD 84.88 Bn by 2029, at a CAGR of 5.2 percent during a forecast period. High demand from the automotive industry because of the requirement for high-performance and lightweight materials is expected to fuel the market growth.
Elastomers Market: The market size is expected to reach USD 122.57Bn in 2029, with a CAGR of 4.01 percent for the period 2021-2029, because of rising demand from several end-use industries the market is expected to grow during the forecast period.
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