(TPE) Thermoplastic Elastomers Market Size By Product (Thermoplastic Polyurethanes [By Application {Automotive, Construction, Electronics & Appliances, Hose & Tubing, Footwear, Wire & Cable}], Styrenic Block Copolymers [By Product {SIS, SBS, SBC, HSBC}, By Application {Automotive, Paving & Roofing, Footwear, Advanced Materials, Adhesives, Sealants & Coatings}], Thermoplastic Vulcanizates [By Application {Automotive, Fluid Handling, Consumer Goods, Medical}], Copolyester Elastomers [By Application {Automotive, Electrical & Electronics, Industrial, Medical}], Thermoplastic Polyolefins [By Application {Automotive, Industrial/Construction}]), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2016 – 2023

Published Date: Jun 2016  |  Report ID: GMI472  |  Authors: Kunal Ahuja, Shreya Deb

Report Format: PDF   |   Pages: 260   |   Base Year: 2015




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Thermoplastic Elastomers Market size was over USD 12.5 billion in 2015 and may expect consumption at over 6 million tons up to 2023.
 

U.S. Thermoplastic Elastomers Market Share, Statistics By Product, 2015 & 2023, (Kilo Tons)   

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Increasing application usage in automotive, construction, and electrical & electronics industries along with technological advancement for replacing standard plastics and conventional elastomers should drive thermoplastic elastomers market demand. Growing automobile sector may drive TPE demand in sealing systems, under hood components, exterior and interiors of vehicle. In 2014, the average car consists around 200 kg of plastics whereas it is projected that car will incorporate about 350 kg of plastics by 2020. Carbon fiber usage in automotive manufacturing was 3.4 kilo tons in 2013 and may increase up to 9.5 kilo tons by 2030. Changing consumer perception towards environmental susceptibilities & stringent regulations to reduce GHG and carbon emission impact on human health & environment, thereby increasing fuel efficiency by lowering car weight and density which in turn may stimulate industry growth.
 

Favorable government policies and norms on export & import trade regulations, fuel upgrading process for commercial vehicles, and emission standards mainly in India, China, Indonesia, and Thailand should drive Asia Pacific TPE market. Asia Pacific passenger cars sale was 32.7 million vehicles in 2015. Increased urbanization along with high demand for SUVs and sedans is expected to propel regional market growth.
 

They are good insulators which have low electrical conductivity and are widely used in various cables owing to its tear resistance and flexibility. Increasing consumer awareness regarding safety and protection in electronics & electrical sector should upsurge TPE market size. China smartphone sale was approximately USD 130 billion in 2016. Increasing flexible electronic components demand and expansion of global consumer electronics industry may further boost industry demand.
 

TPEs have different pricing as their manufacturing depends upon the feedstock used. Fluctuating oil prices & volatility owing to supply deficit and political instability may impact thermoplastic elastomers market price trends. However, manufacturers are trying to combat these drawbacks by developing new manufacturing techniques by using different chemical compositions to make products viable to high stress applications and economic volatility.
 

(TPE) Thermoplastic Elastomers Market Report Coverage
Report Coverage Details
Base Year: 2015 Market Size in 2015: 12.5 Billion (USD)
Historical Data for: 2012 to 2015 Forecast Period: 2016 to 2023
Pages: 260 Tables, Charts & Figures: 339
Geographies covered (9): U.S., Germany, UK, France, Italy, China, India, Japan, Brazil
Segments covered: Product and Region
Companies covered (20): Advanced Elastomer Systems Ltd., Arkema S.A., BASF, Covestro AG (Bayer Material Science), Sinopec Corp. (China Petroleum & Chemical Corporation), Dynasol Elastomers LLC, EMS Group, Evonik Industries, Huntsman Corporation, Kraton Performance Polymers, Inc., LG Chemicals, LCY Chemical Corporation, Lubrizol Corporation, LyondellBasell Industries, Nippon Polyurethane Industry Company Ltd., PolyOne Corporation, Teknor APEX Company, The Dow Chemical Company, TSRC Corporation, Business Segment, Wanhua Chemical Group Co.,Ltd. (Yantai Wanhua Polyurethane Co. Ltd.)
Growth Drivers:
  • End-use industries growth in Asia Pacific
  • Alternative to thermosets
Pitfalls & Challenges:
  • Fluctuations in raw material prices

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Thermoplastic Elastomers Market, By Product

Thermoplastic polyurethane market size was valued at over USD 1.6 billion in 2015. It is widely used in automotive, aerospace, and railway industries due to its high resilience, abrasion, tear resistance, cool temperature resistance, and waterproofness properties. Expansion in healthcare sector with increase in consumer awareness for quality healthcare products accompanied with strict policies may augment market share. They are widely used in manufacturing medical grade hospital equipment such as tubing, catheters, surgical tools, vial closures, grips, and monitoring patches owing to economic feasibility, flexibility, slip resistance, and shock absorption nature characteristic which may encourage product demand.
 

Global thermoplastic polyolefins may witness significant gains at over 3.5% during the foreseeable timeframe. Changing consumer perception towards high quality footwear and rising inclination towards snow sports may trigger thermoplastic elastomers market share. They are widely used to manufacture ski boots, shoes, and sporting equipment owing to its characteristics such as ductility, high impact resistance, and chemical resistance. They are also compatible with fillers & provide good balance of impact resistance, high heat deflection, dimensional stability, and stiffness which may stimulate market demand.
 

Thermoplastic vulcanizates market size from automotive application is expected to exceed USD 210 million up to 2023. Growing lightweight materials demand to increase fuel efficiency in vehicles shall foster market growth. Government regulations and policies to increase fuel efficiency mainly in the U.S., Canada, Germany, UK, and France may further bolster industry share.
 

Regional Analysis

North America, driven by the U.S. may grow significantly at over 4% up to 2023. Rising demand for automobiles owing to increasing inclination in millennials to own personal vehicles and easy availability of low interest loans may trigger market share. Stringent environment regulations, changing consumer outlook on environmental susceptibilities and rising interest in purchasing fuel efficient automobiles may stimulate regional industry demand.
 

Europe thermoplastic elastomers market demand led by Germany, UK, and France may surpass USD 5 billion by 2023. Changing consumer perception on high quality health products and services may encourage product demand. Stringent healthcare regulations to maintain high standards in government & private hospitals and rising awareness on biocompatibility of synthetic materials may augment market growth. Rising styrenic block copolymer market demand in automotive and building & construction industries should upsurge regional industry growth.
 

Asia Pacific led by India, Japan, and China is poised to exceed USD 8 billion during the foreseeable timeframe. Rising inclination to purchase high performance & durable electronic gadgets may accelerate market share. Government initiatives favouring TPU market demand along with expansion in automotive, construction, electronics, and footwear sectors may boost industry growth in the region. Rapid industrialization accompanied with infrastructure spending is likely to boost overall industry share.
 

Competitive Market Share

The TPE market share is consolidated with major industry players including Sinopec, Dow Chemical, LyondellBasell, and Kraton Polymers. Companies are trying to diversify product portfolio and widen geographical presence by investing in new technology under stringent regulations. Also, industry participants will have to overcome significant barriers and replace rubber materials thoroughly by TPE in order to achieve higher profit margins.
 

Industry Background

They are a class of copolymers that consists of materials with both elastomeric and thermoplastic properties. They show advantages of both rubbery & plastic materials and are generally low module and flexible materials that can be stretched repeatedly to at least twice their original length at room temperature with an ability to return to their approximate original length. They have various advantages over conventional elastomers such as low toxicity & cost of processing, high durability, and chemical resistance. They can replace metals as they have better fatigue bearing characteristics and tolerate larger deflections than metals without deforming.


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