Thermoplastic Polyamide Elastomer Market size is estimated to record appreciable growth between 2023 and 2032, driven by the surging demand for polyamide block copolymers. Lightweight in nature, these thermoplastic elastomers offer one of the best combinations of processability and performance. Other crucial properties include a relatively high service temperature due to the robust hydrogen bonding amid domains, resulting in improved solvent resistance, good heat aging, and low creep.
The current situation of global inflation has limited people's expenditure on leisure activities, which has impeded the sales of sports goods. Major end-use industries, such as automotive and wire & cable, are also dealing with high commodity prices, labor shortages, high raw material costs, and the consequences of the Russia-Ukraine war, such as supply chain constraints. This has severely impacted the industry trade dynamics across both developed and developing economies and may continue doing so in the coming years as well, thus, hampering thermoplastic polyamide elastomer market revenue.
On the basis of product, the polyether-amide (PEBA) segment is expected to register considerable expansion through 2032. This is on account of multiple features, such as outstanding flex fatigue and low-temperature flexibility, in addition to good resistance against chemicals, weathering, wear, and heat. These parameters make these elastomers an excellent choice for applications that require high durability after cyclic loading in various chemical environments and at varying temperatures. These factors are set to drive segment expansion through the coming years.
By application, the sports & leisure segment is touted to account for a commendable share of the thermoplastic polyamide elastomer market by 2032. This rise is credited to the multiple applications of TPE, such as in flying discs owing to the properties of flexibility, reliability, and sturdiness. In addition, TPE materials can be engineered to have an excellent wet grip, which makes it ideal for usage in waterski clips and surf pads. Furthermore, thermoplastic elastomers can also have excellent springs for diving fins, propulsion, or for perfect seals in watercraft dry compartments.
Regarding the regional landscape, the North America thermoplastic polyamide elastomer industry share is projected to register lucrative expansion during 2023-2032. The regional growth is due to the rollout of different products and the adoption of expansion strategies by market players.
Major companies across the thermoplastic polyamide elastomer market are LANXESS Corporation, Solvay S.A., Polyone, LG Chem, Evonik Industry, BASF SA, Arkhema, NYCOA, Nexeo Solutions, RTP company, and others. These players are focusing on the adoption of strategic initiatives such as mergers, acquisitions, product developments, partnerships, and collaborations to consolidate their position in the market.