Thermoplastic Elastomer Market Statistics - 2027
Thermoplastic elastomers, also known as thermoplastic rubbers are a type of copolymers that pose both thermoplastic and elastomeric properties. These materials can be manufactured by a number of processes including injection, molding, and extrusion. They have excellent properties such as high mechanical and chemical stability, good vapor and glass transmission and others. Thermoplastic elastomers are soft and flexible and have a wide range of applications in several end-user industries such as construction, automobile, health care, and consumer goods.
COVID-19 scenario analysis:
The outbreak of the COVID-19 pandemic has severely affected the global thermoplastic elastomer market.
- Because of the global economic slowdown caused by the pandemic, the demand for automobiles went down drastically across the globe. As a result the applications for thermoplastic elastomers in the automobile sector decreased thereby affecting the market.
- Moreover, the usage of thermoplastic elastomers in the construction sector also went down as almost all the major construction projects across the globe came to a halt due to the nationwide lockdowns imposed by the governments. This has also affected the demand for thermoplastic elastomer in the market.
- However, on the contrary, the consumption of thermoplastic elastomers in the production of medical equipment increased amidst the pandemic. This has somewhat fostered the demand for these materials in the healthcare sector.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
One of the major factors responsible for the rise in demand for thermoplastic elastomers across the globe. Thermoplastic polymers are extensively used in making air bags, window trims, cowl panels, seals and air duct components. The rapid urbanization across the globe and the increase in disposable income among the consumers has resulted in exponential growth of the automobile sector and consequently, drive the growth of the thermoplastic elastomers market. Moreover, because of the superior properties, thermoplastic elastomers are also used in the construction industries. It is used in doors, windows, insulation panels, plumbing, and also have several other decorative applications. Thermoplastic elastomers also have a wide range of applications in the healthcare sector for manufacturing medical equipment such as catheters, drug delivery tubes, grips for surgical tools, different implants, and others.
The market in the Asia-Pacific region dominates the global thermoplastic elastomers market due to the increase in demand for thermoplastic elastomers in different industries of the region. The market in North America and Europe is also expected to grow significantly because of the recent innovations in bio-based thermoplastics in the emerging economies of the region.
Key benefits of the report:
- This study presents the analytical depiction of the global thermoplastic elastomer industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global thermoplastic elastomer market share.
- The current market is quantitatively analyzed to highlight the global thermoplastic elastomer market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global thermoplastic elastomer market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Thermoplastic Elastomer Market research report:
- What are the leading market players active in the thermoplastic elastomer market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Thermoplastic Elastomer Market Report Highlights
By End-use Industry
Key Market Players
Tosoh Corporation, Zeon Corporation., TSRC, Huntsman International LLC., Celanese Corporation, The Lubrizol Corporation, Apar Industries Ltd, Teknor Apex, LG Chem, China Petrochemical Corporation, Kraton Corporation, LCY Group, Exxon Mobil Corporation, Asahi Kasei Corporation, Polyone