Global thermoplastic polyamide elastomer market size is estimated to record appreciable growth between 2022 and 2028 driven by the surging demand for polyamide block copolymers. Light-weight in nature, these thermoplastic elastomers offer one of the best combinations of processability and performance. Other major properties include a relatively high service temperature due to the robust hydrogen-bonding amid domains which results in improved solvent resistance, good heat aging, and low creep.
On the basis of product, the polyether-amide (PEBA) segment is expected to register considerable expansion through 2028. This is on account of multiple features such as outstanding flex fatigue and low temperature flexibility in addition to good resistance to 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 in the thermoplastic polyamide elastomer market through 2028. 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 for having excellent wet grip, which makes it ideal for usage in waterski clips and surf pads. Furthermore, thermoplastic elastomers can also have excellent spring for diving fins, propulsion, or for perfect seals in watercraft dry compartments.
Based on the regional landscape, the North America thermoplastic polyamide elastomer market share is projected to register lucrative expansion over the analysis period. The regional growth is due to the rollout of different products and the adoption of expansion strategies by market players. For instance, in September 2021, Solvay announced the installation of a new TPC (thermoplastic composites) manufacturing unit at its Greenville, South Carolina site. The new line is set to add over 30 positions at the new facility.
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 for consolidating their position in the market.
Some of the key instances have been mentioned below:
The SARS-CoV-2 pandemic has impelled the usage of thermoplastic elastomers for the production of numerous COVID-related medical applications. This has propelled the demand for TPEs among several companies for the production of items to be deployed across the healthcare sector. The compounds ae being adopted in an array of applications including ventilator parts, face shields, face masks, and PPE (Personal Protective Equipment) kits. These aspects are poised to increase thermoplastic elastomer uses, boosting product demand through the ensuing years.