Posted By Coherent Market Insights
Posted on October 11, 2021
The global thermoplastic elastomer market is estimated to witness a healthy growth, at an estimated CAGR of over 5%, over the forecast period.
Thermoplastic elastomers are adaptable materials, which can be extended without distorting the shape permanently. Thermoplastic elastomers are a physical blend of polymers, which is typically plastic and elastic, and they are manufactured by injection, molding, and extrusion. It is utilized in various applications in the automotive sector, such as airbags, anti-slip mats, window trims, cowl panels, spoilers, and seals & air duct components. Rising demand for automobiles and automotive parts along with increasing consumer spending on automobiles are expected to drive growth of the thermoplastic elastomers market.
The research report studies the Thermoplastic Elastomer Market using different methodologies and analyzers to provide accurate and in-depth information about the market. For a clearer understanding, it is divided into several parts to cover different aspects of the market.
Top Key Players in Thermoplastic Elastomer market: DowDuPont Inc., Arkema Group, Asahi Kasei Corporation, PolyOne Corporation, Elastron Kimya SA, Kraton Corporation, Evonik Industries, and Covestro AG.
Regional Analysis:
The market research report on the global Thermoplastic Elastomer market offers complete analysis across various regions around the globe. The report contains detailed country-level analysis, market revenue, market value and forecast analysis for the following countries and regions: Geographically, the comprehensive analysis of ingestion, revenue and Market share and growth speed, historical and forecast (2021-2027) of these regions are covered.
Key Trends and Analysis of the Thermoplastic Elastomers Market:
- Among product type, styrenic block co-polymers segment is expected to gain major traction, which in turn is expected to favor growth of the thermoplastic elastomers market over the forecast period. Vulcanizates segment is expected to be the fastest growing segment over the forecast period, owing to its increasing applications in automotive parts, building materials, sporting goods, appliance parts, and others.
- Growing medical equipment manufacturing industry is expected to drive growth of styrenic block co-polymers segment and in turn fuel growth of the thermoplastic elastomers market, globally. For instance, according to the India Brand Equity Foundation, medical devices industry in India was valued at US$ 10 billion in 2017 and is expected to reach US$ 25 billion by 2025, with a CAGR of 12.15%.
Key Takeaways of the Market:
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- Thermoplastic elastomers complies with the Federal Food, Drug and Cosmetic Act as a food contact substance, which allows use of TPE in packaging of all food types
- Moreover, the properties of TPE such as weather & temperature resistance, shock absorption, flexibility, and abrasion resistance are used as an impact modifier for automotive parts such as brake seals, oil filter seals, grease seals, dashboards, door trims, wiper spoiler, instrumental auto interiors, exteriors, under the hood, weather seals, car bumpers, and others
- Asia Pacific thermoplastic elastomer market is expected to witness fastest growth over the forecast period, owing to increasing demand from various industries such as automotive, packaging, medical, and others, with China, India, and Japan contributing the major revenue share in Asia Pacific thermoplastic elastomer market
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: [email protected]
The post Thermoplastic Elastomer market To Witness High Growth, Dynamics, Production, Demand Analysis And Forecast 2021-2028 appeared first on Gatorledger.
The global thermoplastic elastomer market is estimated to witness a healthy growth, at an estimated CAGR of over 5%, over the forecast period.
Thermoplastic elastomers are adaptable materials, which can be extended without distorting the shape permanently. Thermoplastic elastomers are a physical blend of polymers, which is typically plastic and elastic, and they are manufactured by injection, molding, and extrusion. It is utilized in various applications in the automotive sector, such as airbags, anti-slip mats, window trims, cowl panels, spoilers, and seals & air duct components. Rising demand for automobiles and automotive parts along with increasing consumer spending on automobiles are expected to drive growth of the thermoplastic elastomers market.
The research report studies the Thermoplastic Elastomer Market using different methodologies and analyzers to provide accurate and in-depth information about the market. For a clearer understanding, it is divided into several parts to cover different aspects of the market.
Top Key Players in Thermoplastic Elastomer market: DowDuPont Inc., Arkema Group, Asahi Kasei Corporation, PolyOne Corporation, Elastron Kimya SA, Kraton Corporation, Evonik Industries, and Covestro AG.
Regional Analysis:
The market research report on the global Thermoplastic Elastomer market offers complete analysis across various regions around the globe. The report contains detailed country-level analysis, market revenue, market value and forecast analysis for the following countries and regions: Geographically, the comprehensive analysis of ingestion, revenue and Market share and growth speed, historical and forecast (2021-2027) of these regions are covered.
Key Trends and Analysis of the Thermoplastic Elastomers Market:
- Among product type, styrenic block co-polymers segment is expected to gain major traction, which in turn is expected to favor growth of the thermoplastic elastomers market over the forecast period. Vulcanizates segment is expected to be the fastest growing segment over the forecast period, owing to its increasing applications in automotive parts, building materials, sporting goods, appliance parts, and others.
- Growing medical equipment manufacturing industry is expected to drive growth of styrenic block co-polymers segment and in turn fuel growth of the thermoplastic elastomers market, globally. For instance, according to the India Brand Equity Foundation, medical devices industry in India was valued at US$ 10 billion in 2017 and is expected to reach US$ 25 billion by 2025, with a CAGR of 12.15%.
Key Takeaways of the Market:
- Thermoplastic elastomers complies with the Federal Food, Drug and Cosmetic Act as a food contact substance, which allows use of TPE in packaging of all food types
- Moreover, the properties of TPE such as weather & temperature resistance, shock absorption, flexibility, and abrasion resistance are used as an impact modifier for automotive parts such as brake seals, oil filter seals, grease seals, dashboards, door trims, wiper spoiler, instrumental auto interiors, exteriors, under the hood, weather seals, car bumpers, and others
- Asia Pacific thermoplastic elastomer market is expected to witness fastest growth over the forecast period, owing to increasing demand from various industries such as automotive, packaging, medical, and others, with China, India, and Japan contributing the major revenue share in Asia Pacific thermoplastic elastomer market
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: [email protected]
The post Thermoplastic Elastomer market To Witness High Growth, Dynamics, Production, Demand Analysis And Forecast 2021-2028 appeared first on Gatorledger.
