Press release
Thermoplastic Elastomer Market 2024-2033: Trends, Growth & Analysis Outlook
The thermoplastic elastomer market size has grown strongly in recent years. It will grow from $27.04 billion in 2023 to $28.85 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to automotive industry growth, consumer goods manufacturing, medical device applications, replacement of traditional elastomers, consumer preference for soft touch materials.
The thermoplastic elastomer market size is expected to see strong growth in the next few years. It will grow to $37.99 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to growing demand for sustainable materials, expansion of the electric vehicles (ev) market, medical industry advancements, e-commerce packaging solutions, adoption in 3d printing, resilience in harsh environments. Major trends in the forecast period include bio-based tpes, smart manufacturing and industry 4.0, integration in wearable technology, circular economy initiatives, digitalization of supply chains.
Market Overview -
Thermoplastic elastomers (TPEs) refer to a class of materials that combine the characteristics of thermoplastics and elastomers. They exhibit both the elasticity and flexibility of rubber-like materials (elastomers) and the processability and recyclability of thermoplastics.
Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=11987&type=smp
Rising Demand For Automotive Components Boosts Thermoplastic Elastomer Market Growth
The increasing demand for automotive components manufacturing is expected to propel the growth of the thermoplastic elastomer market going forward. Automotive component manufacturing refers to the process of producing various parts and components that are used in the manufacturing and assembly of automobiles. These components utilize thermoplastic elastomer materials for a variety of applications. Thermoplastic elastomers offer a combination of flexibility, durability, and ease of processing, making them suitable for different automotive component requirements. For instance, in March 2023, according to Economic Times, an Indian-based business newspaper, the automotive components industry in India is projected to grow by around 10-15% and is expected to experience significant growth in the fiscal year 2023-24. The Indian automotive sector generated USD 56.5 billion in revenue in 2022, an increase of 23% from the previous year. The current fiscal year, 2023, is also expected to end with a growth rate of 15%. Therefore, the increasing demand for automotive components is driving the growth of the thermoplastic elastomer market.
Competitive Landscape -
Major companies operating in the thermoplastic elastomer market report are China Petroleum & Chemical Corporation, ExxonMobil Chemical Company, BASF SE, Asahi Kasei Corporation, Covestro AG, DuPont de Nemours Inc., Arkema S.A., Huntsman Corporation, Lubrizol Corporation, Evonik Industries AG, Avient Corporation, Teknor APEX Company, TSRC Corporation, HEXPOL TPE AB, RTP Company, Nantex Industry Co. Ltd., KRAIBURG TPE, Pinnacle Polymers LLC, Americhem Inc., Applied Plastics Co. Inc., Audia Elastomers, Star Thermoplastic Alloys & Rubbers Inc., Advanced Elastomer Systems L.P., Dynasol Elastomers LLC, TPE Solutions Inc., Elastocon TPE Technologies Inc., Kraton Polymers LLC, Yantai Wanhua Polyurethane Co. Ltd., India Thermoplastics Engineers, Nippon Polyurethane Industry Company Ltd.
Innovative Thermoplastic Elastomer Tubing Introduced By Dupont For Biopharmaceutical Applications
Product Innovations are a key trend gaining popularity in the thermoplastic elastomer market. Companies operating in the thermoplastic elastomer market are adopting new product innovations to sustain their position in the market. For instance, in April 2022, DuPont, a US-based chemical company introduced a new line of extruded pharma tubing called DuPont Liveo Pharma thermoplastic elastomer tubing. This launch represents a significant milestone for the Liveo brand, as it expands its product offerings to include thermoplastic elastomer technology for fluid transport and single-use bioprocessing applications. Liveo pharma thermoplastic elastomer tubing is specifically designed for use in biopharmaceutical processes. It offers the capability of aseptic connection and disconnection of tubing without the need for connectors, making it suitable for applications such as sampling where maintaining a sterile environment is critical.
Browse Full Report @
https://www.thebusinessresearchcompany.com/report/thermoplastic-elastomer-global-market-report
Key Segments -
The thermoplastic elastomer market covered in this report is segmented -
1) By Type: Thermoplastic Polyurethane (TPU), Styrenic Block Copolymer (TPE-S), Thermoplastic Vulcanizates, Elastomeric Alloys, Thermoplastic Copolyester, Other Types
2) By Material: Poly Styrenes, Poly Olefins, Poly Ether Imides, Poly Urethanes, Poly Esters, Poly Amides
3) By Application: Automotive, Building And Construction, Footwear, Wire And Cables, Medical, Engineering, Other Applications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps
The thermoplastic elastomer market size is expected to see strong growth in the next few years. It will grow to $37.99 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to growing demand for sustainable materials, expansion of the electric vehicles (ev) market, medical industry advancements, e-commerce packaging solutions, adoption in 3d printing, resilience in harsh environments. Major trends in the forecast period include bio-based tpes, smart manufacturing and industry 4.0, integration in wearable technology, circular economy initiatives, digitalization of supply chains.
Market Overview -
Thermoplastic elastomers (TPEs) refer to a class of materials that combine the characteristics of thermoplastics and elastomers. They exhibit both the elasticity and flexibility of rubber-like materials (elastomers) and the processability and recyclability of thermoplastics.
Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=11987&type=smp
Rising Demand For Automotive Components Boosts Thermoplastic Elastomer Market Growth
The increasing demand for automotive components manufacturing is expected to propel the growth of the thermoplastic elastomer market going forward. Automotive component manufacturing refers to the process of producing various parts and components that are used in the manufacturing and assembly of automobiles. These components utilize thermoplastic elastomer materials for a variety of applications. Thermoplastic elastomers offer a combination of flexibility, durability, and ease of processing, making them suitable for different automotive component requirements. For instance, in March 2023, according to Economic Times, an Indian-based business newspaper, the automotive components industry in India is projected to grow by around 10-15% and is expected to experience significant growth in the fiscal year 2023-24. The Indian automotive sector generated USD 56.5 billion in revenue in 2022, an increase of 23% from the previous year. The current fiscal year, 2023, is also expected to end with a growth rate of 15%. Therefore, the increasing demand for automotive components is driving the growth of the thermoplastic elastomer market.
Competitive Landscape -
Major companies operating in the thermoplastic elastomer market report are China Petroleum & Chemical Corporation, ExxonMobil Chemical Company, BASF SE, Asahi Kasei Corporation, Covestro AG, DuPont de Nemours Inc., Arkema S.A., Huntsman Corporation, Lubrizol Corporation, Evonik Industries AG, Avient Corporation, Teknor APEX Company, TSRC Corporation, HEXPOL TPE AB, RTP Company, Nantex Industry Co. Ltd., KRAIBURG TPE, Pinnacle Polymers LLC, Americhem Inc., Applied Plastics Co. Inc., Audia Elastomers, Star Thermoplastic Alloys & Rubbers Inc., Advanced Elastomer Systems L.P., Dynasol Elastomers LLC, TPE Solutions Inc., Elastocon TPE Technologies Inc., Kraton Polymers LLC, Yantai Wanhua Polyurethane Co. Ltd., India Thermoplastics Engineers, Nippon Polyurethane Industry Company Ltd.
Innovative Thermoplastic Elastomer Tubing Introduced By Dupont For Biopharmaceutical Applications
Product Innovations are a key trend gaining popularity in the thermoplastic elastomer market. Companies operating in the thermoplastic elastomer market are adopting new product innovations to sustain their position in the market. For instance, in April 2022, DuPont, a US-based chemical company introduced a new line of extruded pharma tubing called DuPont Liveo Pharma thermoplastic elastomer tubing. This launch represents a significant milestone for the Liveo brand, as it expands its product offerings to include thermoplastic elastomer technology for fluid transport and single-use bioprocessing applications. Liveo pharma thermoplastic elastomer tubing is specifically designed for use in biopharmaceutical processes. It offers the capability of aseptic connection and disconnection of tubing without the need for connectors, making it suitable for applications such as sampling where maintaining a sterile environment is critical.
Browse Full Report @
https://www.thebusinessresearchcompany.com/report/thermoplastic-elastomer-global-market-report
Key Segments -
The thermoplastic elastomer market covered in this report is segmented -
1) By Type: Thermoplastic Polyurethane (TPU), Styrenic Block Copolymer (TPE-S), Thermoplastic Vulcanizates, Elastomeric Alloys, Thermoplastic Copolyester, Other Types
2) By Material: Poly Styrenes, Poly Olefins, Poly Ether Imides, Poly Urethanes, Poly Esters, Poly Amides
3) By Application: Automotive, Building And Construction, Footwear, Wire And Cables, Medical, Engineering, Other Applications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage
to this press release on woodPRI. woodPRI disclaims liability for any content contained in
this release.
Recommend
/newsMicroencapsulation Market Deep Analysis on Key Players - Dow Corning, Encapsys, Syngenta Crop Protection, Evonik Industries, 3M and Bayer
Market Study Report Adds Global Microencapsulation Market Size, Status and Forecast 2024 added to its database. The report provides key statistics on the current state of the industry and other analytical data to understand the market.
Extensive research is required for choosing the appropriate cor...
/newsGermany Airbag Market Size 2023: Global Share, Industry And Report Analysis By 2030 | Hyundai Mobis Co., Ltd. Key Safety Systems, Inc. Robert Bosch GmbH
Germany airbag market is expected to grow at a CAGR of around 6% during the forecast period. Germany Airbag Market research report refers to gathering and analyzing significant market data serve as best medium for various industry players to launch novel product or service. It is vital for key firms...
/newsSecurities Brokerages And Stock Exchanges Market Outlook 2021: Big Things are Happening
A new intelligence report released by HTF MI with title "Global Securities Brokerages And Stock Exchanges Market Survey & Outlook" is designed covering micro level of analysis by Insurers and key business segments, offerings and sales channels. The Global Securities Brokerages And Stock Exchange...
/newsRenewable Chemicals Market Emerging Trends and Competitive Landscape Forecast to 2028
The renewable chemicals market was valued at US$ 80,566.30 million in 2021 and is projected to reach US$ 1,76,750.76 million by 2028 it is expected to grow at a CAGR of 11.9% from 2021 to 2028. The research report focuses on the current market trends, opportunities, future potential of the market, a...
/newsHow Coronavirus is Impacting Cold Brew Coffee, Global Market Volume Analysis, Size, Share and Key Trends 2020-2026
"Market Latest Research Report 2020:
Los Angles United States, February 2020: The Cold Brew Coffee market has been garnering remarkable momentum in the recent years. The steadily escalating demand due to improving purchasing power is projected to bode well for the global market. QY Research's lates...
/newsCorporate E-Learning Market - Global Industry Size, Share, Key Players Analysis that are Infor, SkillSoft Corporation, Adrenna, CERTPOINT Systems and others with Regional Forecast to 2022
Overview:
E-Learning is used to enhance the learning procedures for newer job requirements and to make employees sound about the internal and external changes in the market and respective organizations. This method has created considerable differences in the ways of training and developing employee...
