Global TPE Market (2021 to 2026) - Key Drivers, Restraints, Opportunities and Challenges
DUBLIN, May 13, 2021 /PRNewswire/ -- The "TPE Market by Type (SBC, TPU, TPO, TPV, COPE, PEBA), End Use Industry (Automotive, Building & Construction, Footwear, Wire & Cable, Medical, Engineering), Region (North America, Europe, APAC, South America, MEA) - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global TPE market size was USD 19.9 billion in 2021 and is projected to reach USD 26.3 billion by 2026, at a CAGR of 5.7% between 2021 and 2026.
Thermoplastic elastomers are a class of polymers having properties of both thermoplastics and elastomers. They are obtained by linking thermoplastics with elastomeric rubbers. Thermoplastic elastomers provide advantages of both plastics and rubber, and hence the new form created by their combination is adaptable in many applications. The high impact and tear strength of thermoplastic elastomers have increased their demand in the automotive and building & construction industries. Thermoplastic elastomers are recyclable, environment-friendly, and safe to use in medical and food packaging applications.
Automotive: The fastest-growing end use industry of TPE.
Automotive is the largest application in the TPE market. TPE is used in exterior filler for panels, wipers, rocker panels, body seals, automotive gaskets, door & window handles, other under-the-hood applications. The segment account for about 33% market share in terms of volume in 2020. The sector is in declining phase for past two year (2018-2019) due to global economic slowdown. However, the segment is expected to recover in forecast period. Moreover, focus towards electric and hybrid vehicle will provide new opportunities for TPE manufacturer.
APAC is estimated to be the fastest-growing market for TPE.
APAC accounted for the largest share in terms of volume and value of the TPE market in 2020, followed by North America and Europe. The use of TPE is expected to witness the highest growth in the APAC region during the forecast period. The market in this region is driven by the recovery of the automotive sector in China, India, and Southeast Asian countries. Global automobile manufacturers are investing in APAC countries in establish their production plants to enhance their market presence in the region. China is the significant market for automobile and the largest consumer of TPE in the world. The focus towards the development of New Energy Vehicles (NEVs) to reduce carbon footprint will drive the automotive industry in China which will further enhance the demand of TPE during the forecast period.
TPE market declined in 2020.
The TPE market in 2020 declined by 18.2%, in terms of volume, compared to 2019 due to the COVID-19 pandemic. The automotive industry is a significant consumer of TPE. The effect of COVID-19 on the automotive industry led to declining car sales and the layoff of employees. The production was halted due to disruption in the supply chain. With the declining production of automobiles, the demand for TPE also decreased. Extensive primary interviews were conducted to determine and verify the market size for several segments and subsegments and information gathered through secondary research.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.2 Restraints
5.2.3 Opportunities
5.2.4 Challenges
5.3 Porter's Five Forces Analysis
5.4 Trade Analysis
5.5 COVID-19 Impact Analysis
5.6 Value Chain Analysis
5.7 Ecosystem/Market Mapping
5.8 Macroeconomic Indicators
5.9 Patent Analysis
5.10 YC, Ycc Shift
5.11 Forecast Factors Impacting Growth
5.12 Technology Analysis
5.13 Adjacent and Related Market
6 TPE Market, by Type- Forecast Till 2026 (In Volume and Value)
6.1 Introduction
6.2 Styrenic Block Copolymer
6.3 Thermoplastic Polyurethane
6.4 Thermoplastic Polyolefins
6.5 Thermoplastic Vulcanizates
6.6 Copolyester Ether Elastomers
6.7 Polyether Block Amide Elastomers
7 TPE Market, by End Use Industry- Forecast Till 2026 (In Volume and Value)
7.1 Introduction
7.2 Automotive
7.3 Building & Construction
7.4 Footwear
7.5 Wires & Cables
7.6 Medical
7.7 Engineering
7.8 Other End-Use Industries (Sporting Goods, Packaging and Lamination)
8 TPE Market, by Region - Forecast Till 2026 (In Volume and Value)
8.1 North America
8.1.1 U.S.
8.1.2 Canada
8.1.3 Mexico
8.2 Europe
8.2.1 Germany
8.2.2 UK
8.2.3 France
8.2.4 Italy
8.2.5 Russia
8.2.6 Turkey
8.2.7 Rest of the Europe
8.3 Asia-Pacific
8.3.1 China
8.3.2 Japan
8.3.3 South Korea
8.3.4 India
8.3.5 Taiwan
8.3.6 Indonesia
8.3.7 Rest of Asia-Pacific
8.4 South America
8.4.1 Brazil
8.4.2 Argentina
8.4.3 Rest of the South America
8.5 Middle East & Africa
8.5.1 Gcc Countries
8.5.2 South Africa
8.5.3 Rest of the Mea
9 Competitive Landscape
9.1 Introduction
9.2 Company Evaluation Matrix
9.2.1 Market Share & Industry Tier Structure Analysis
9.3 Competitive Scenario
9.3.1 Expansions
9.3.2 Acquisitions
9.3.3 New Product Launches
9.3.4 Market Strategy Analysis
9.3.5 Revenue Analysis of Top Players
10 Company Profiles
10.1 Arkema Sa
10.2 Asahi Kesai Corporation
10.3 Basf Se
10.4 The Dow Chemical Company
10.5 Covestro Ag
10.6 Huntsman Corporation
10.7 Teknor Apex Company
10.8 Lubrizol Corporation
10.9 Tosh Corporation
10.10 Kraton Corporation
10.11 China Petroleum and Chemical Corporation
10.12 Mitsubishi Chemical Company
10.13 Dupont De Nemours.Inc
10.14 Sibur
10.15 Evonik Industries
10.16 Dynasol Elastomers
10.17 Celanese Corporation
10.18 Zeon Corporation
10.19 Lyondellbasell Industries N.V.
10.20 Elastron
For more information about this report visit https://www.researchandmarkets.com/r/2qcngh
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