Ultra-soft Thermoplastic Elastomer Market Analysis:
Ultra-soft thermoplastic elastomers are also known as thermoplastic rubber. Thermoplastic elastomers include properties of both thermoplastics and rubber, making them soft and flexible. Ultra-soft thermoplastic elastomer is used as polymer material between rubber and resin. It not only replaces part of rubber but also modifies plastics. It can be re-melted and re-processed like thermoplastic. Ultra-soft thermoplastic elastomers are soft or hard phase systems and can be divided into block copolymers and elastomeric blends. They are good substitute to silicones and are cost-effective material, which make them widely used in various industries. Various uses of ultra-soft thermoplastic elastomers are footwear, consumer goods, electronics, automotive, wires & cables, and building & construction.
COVID-19 scenario analysis:
- Transportation restrictions and stringent government policies are causing a downturn in the growth scale of the footwear market amidst the COVID-19 (coronavirus) lockdown period.
- China is one of the major markets for automotive. Attributed to outbreak of COVID-19, China’s automotive market is facing a sharp fall, with obvious impacts for manufacturers of tires, hoses, belts, and other auto parts.
- The production facilities of electronics parts have been halted, owing to the logistics slowdown and unavailability of workforce across the globe. On the other hand, various e-commerce companies across the globe have discontinued the delivery of non-essential items (including most of the electronics products), which is affecting the electronics industry.
- Attributed to the pandemic, sectors that use adhesives and sealants are facing supply disruptions due to restriction on import of materials and massive reductions in oil prices.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
The global ultra-soft thermoplastic elastomers market is growing at a healthy rate. New developments in the healthcare industry increase the demand for medical equipment across the globe. This is the main factor responsible for the growth of the global ultra-soft thermoplastic elastomer market. Moreover, increasing demand for automobiles; lightweight, safe, & low-cost products; and bio-based thermoplastic elastomer drives the growth of the ultra-soft thermoplastic elastomer market.
Furthermore, as a measure in reduction of carbon emissions, environmental agencies have included certain regulations, which aim to increase the fuel efficiency by using plastics instead of alloys and metals in automotive components by reducing their weight, which majorly drives the ultra-soft thermoplastic elastomer market. Factors that hamper the ultra-soft thermoplastic elastomer market growth are high prices of raw materials such as polyurethane, styrene, propylene, and others.
New product launches to boost the market
KraiburgTPE launched a new thermoplastic in 2018 that is medically compliant. It is used in the manufacturing of bracket covers for dental braces. Its Thermolast M series is safe to use in dental applications and helps avoid discomfort during treatment. As the dental bracket cover is placed in the mouth to conceal both the front and the back of the teeth, the application uses Thermolast M material. Thermoplastic elastomers processed by extrusion or injection molding methods and the material adhere to polypropylene with a two-shot or insert molded process.
Surge in usage of ultra-soft thermoplastic elastomer and its industrial applications
By region, the global ultra-soft thermoplastic elastomers market is fragmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Asia Pacific has the largest ultra-soft thermoplastic elastomers market. The main factors driving the Asia Pacific market are government initiatives and low labor costs. Ultra-soft thermoplastic elastomers have replaced PVC, latex, and silicone rubbers in medical tubes, syringe tips, dropper bulbs, gaskets, and ventilator bags. These elastomers can be sterilized from autoclave methods, ethylene oxide, and e-beam. They replace silicone in applications such as gaskets, seals, diaphragms, drainage tubing, bottles, bags, and others.
Expanding application scope in the pharmaceutical industry combined with developing customer awareness of sustainable source materials is expected to drive the ultra-soft thermoplastic elastomers market. In addition, ultra-soft thermoplastic elastomer (TPE) gel compounds are used in medical devices to provide padding or cushioning, or a tight seal.
Key benefits of the report:
- This study presents the analytical depiction of the global ultra-soft thermoplastic elastomer market 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 ultra-soft thermoplastic elastomer market share.
- The current market is quantitatively analyzed to highlight the global ultra-soft thermoplastic elastomer market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the ultra-soft thermoplastic elastomer market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Ultra-soft Thermoplastic Elastomer Market Report Highlights
By End-Use Industry
Key Market Players
Franplast, BASF, Covestro AG, Asahi Kasei Corporation, Kraton Corporation, PolyOne Corporation, the Lubrizol Corporation, Dynasol, the Dow Chemical Company, ZEON Corporation, Hexpol Group, Teknor Apex, Tosoh Corporation