About Thermoplastic Elastomers
Thermoplastic Elastomer (TPE) refers to a class of polymers that combine the characteristics of rubber with advantages of plastics like recyclability and processing. Thermoplastic Elastomers can be processed with thermoplastic methods which allow for design and fabrication freedom other alternatives do not offer. Just like thermoplastics; TPEs become free-flowing when heated and when cooled regain their structure and stability. As they involve purely physical cross-linking; it makes it possible to reuse all of the production waste and also end of life products also could be reprocessed. TPEs exhibit different properties when in the hard phase and in the soft phase. Due to this design flexibility, high performance, and ease of processing increasing number of manufacturers are choosing TPEs as their material of choice.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Thermoplastic Elastomers are extensively used in many appliances and manufacturing activities. More than 40% of TPEs are used in the automotive industry as they provide flexibility of remolding. Market is fairly fragmented and consumers often choose the cheapest bidder for their applications. Signing long-term contracts as a supplier to the businesses could be a good strategy to make and keep the customers. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Arkema SA (France), Asahi Kasei Corporation (China), Covestro AG (Germany), Evonik Industries AG (Germany), Kraton Corporation (United States), Lubrizol Corporation (United States), LyondellBasell Industries N.V. (Netherlands), PolyOne Corporation (United States), Sinopec Group (China) and Teknor Apex Company (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are RTP Company (United States), Hexpol Group (Belgium) and Avient (United States).
Segmentation Overview
AMA Research has segmented the market of Global Thermoplastic Elastomers market by Type (Styrene-based TPE (SBCs), Thermoplastic Polyolefins, Thermoplastic Polyurethanes, Polyether Ester TPE(TPEE) and Others), Application (Wire and Cables, Power and Hand Tools, Plugs, Seals, and Grips and Others) and Region.
On the basis of geography, the market of Thermoplastic Elastomers has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Industry Verticals, the sub-segment i.e. Automotive Industry will boost the Thermoplastic Elastomers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sales Channel, the sub-segment i.e. B2B will boost the Thermoplastic Elastomers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Advancements in Thermoplastic Elastomer Processing Industry
Market Growth Drivers:
Increasing Demand for Thermoplastic Elastomers Due to Their Simpler Moulding and Growing Use of Thermoplastic Elastomers Due to Its Electrical Insulation Properties
Challenges:
Thermoplastic Elastomers Have Low Resistance Towards Aromatics and Melting at Elevated Temperature May Limit the Use of Thermoplastic Elastomers
Restraints:
Thermoplastic Elastomers Are Thermoset Rubbers Which Are Their Alternatives
Opportunities:
Increasing Demand of Thermoplastic Elastomers in the Automotive Industry and Growing Demand of Thermoplastic Elastomers in Heating, Ventilation, And Air Conditioning Industry
On 2nd April 2021, Avient announced the expansion of its recycled content thermoplastic elastomers. The launch included new grades in Europe which would have more than 80% recycled content as well as some versions in North America and in Asia which would be compatible with PC, ABS overmolding. According to Avient, they have responded by utilizing materials from local recycling streams.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Thermoplastic Elastomers Manufacturers, Suppliers, and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations, End-Use Industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.