The thermoplastic elastomers market size is expected to grow at

Beijing, Aug. 28, 2022 (GLOBE NEWSWIRE) — The world thermoplastic elastomers market size was estimated at $21,431 million in 2021 and should be worth $39,009 million By 2030, with a CAGR of 7.1% from 2022 to 2030.

Highlights of the Thermoplastic Elastomers Market Report

  • The global thermoplastic elastomers market size was 21,431 million US$ in 2021 and is expected to grow at a CAGR of 7.1% from 2022 to 2030
  • The North American thermoplastic elastomers market is expected to dominate with over 30% market share
  • Asia-Pacific Thermoplastic Elastomers Market is Expected to Grow at the Fastest CAGR During the Forecast Period 2022 to 2030
  • The market for new electric vehicles with light passenger cars is expanding in the United States and Canada
  • Automotive Industry in Asia-Pacific Expected to Drive Global Expansion of Thermoplastic Elastomers Market Share

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thermoplastic elastomers market Report cover:

Setting thermoplastic elastomers market
thermoplastic elastomers market Size 2021 $21,431 million
thermoplastic elastomers market Provide 2030 $39,009 million
thermoplastic elastomers market CAGR from 2022 to 2030 7.1%
thermoplastic elastomers market Analysis period 2018 – 2030
thermoplastic elastomers market base year 2021
thermoplastic elastomers market Provide Data 2022 – 2030
Segments Covered By material, by application and by geography
Regional Scope of Thermoplastic Elastomers Market North America, Europe, Asia-Pacific, Latin America, Middle East and Africa
Profiled Key Companies Arkema SA, Bayer MaterialScience LLC, BASF SE, Evonik Industries, EMS Group, LyondellBasell Industries, Huntsman Corporation, Kraton Polymers, Sinopec, Nippon Polyurethane Industry Company Ltd., TSRC Corporation and The Dow Chemical Company
Report cover Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulatory Analysis

With recent rapid industrialization and the need for value-added products, the demand for elastomers is increasing across a wide range of industries including automotive, construction, healthcare, as well as electronics and electrical. The thermoplastic elastomers (TPE) market size is growing due to increased demand for elastomers used in the production of durable construction goods such as paints, adhesives, tubing, and other materials. The use of elastomers is increasing due to dramatic improvements in the automotive sector and the growing manufacture of electric and hybrid vehicles. A thermoplastic elastomer is a type of polymer typically used in automotive tires. Due to characteristics such as ease of processing, greater design freedom, versatility, regenerative ability and light weight, thermoplastic elastomers will be widely used in the aerospace and automotive industries. The use of high performance, lightweight thermoplastic elastomers provides a design and strength advantage equivalent to steel. It also helps reduce overall weight and greenhouse gas emissions.

Due to their characteristics including wear resistance, softness, scratch resistance and heat stability, thermoplastic elastomers are being used more frequently in a variety of end-use industries. Automotive industry in Asia-Pacific is expected to drive the global expansion of thermoplastic elastomers market share. Environmental friendliness of thermoplastic elastomers combined with improved performance is expected to propel the growth of the global thermoplastic elastomers market over the projected period. Factors that are expected to limit the expansion of the thermoplastic elastomer market are variable raw material prices and technical difficulties associated with the advancement of inexpensive and affordable thermoplastic elastomer materials.

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COVID-19[feminine] Impact in the global thermoplastic elastomers market

The global COVID-19 pandemic has had a huge influence on the demand for Thermoplastic Elastomers market due to supply chain disruption, interruption in manufacturing activities and decline in demand from manufacturing sectors. end use such as automotive, electronics, consumer goods, construction and others. However, due to the Covid-19 outbreak, the demand from healthcare professions has increased, supporting the growth of the thermoplastic elastomers market. In addition, the rapid recovery of end-use sectors, increasing disposable income, increasing urbanization and increasing environmental awareness have increased the use of thermoplastic elastomers in many sectors such as automotive and construction throughout the projection period.

Growing demand for bio-based thermoplastic elastomers is propelling The Market Growth

Bio-based thermoplastic elastomers are often produced from sustainable bio-based substrates, such as starches, vegetable oils or microbiota, replacing conventional polymers made from petroleum resources. The bio-based elastomer content can be generated from upstream renewable raw materials, including polymers, plasticizers, fillers or additives. The bio-based thermoplastic elastomers market is estimated to grow significantly throughout the forecast period. The increased use of thermoplastic elastomers in various end-user vertical markets is driving the bio-based thermoplastic elastomers industry. Strict emission limitations are also propelling the bio-based thermoplastic elastomers market. The potential rebound from the impact of COVID-19 and the growing acceptance of electric vehicles are major factors expected to drive the development of the bio-based thermoplastic elastomers market forecast. Additionally, stringent emission regulations and guidelines in industrialized countries are expected to drive the bio-based thermoplastic elastomer industry forward. Additionally, increased demand for pharmaceutical elastomers as a result of innovations in the global thermoplastic elastomers industry is expected to support the expansion of the bio-based TPE market.

Thermoplastic elastomer Market segmentation

The global thermoplastic elastomers market has been segmented by Acumen Research and Consulting on the basis of material and application. In terms of materials, the market is divided into polystyrenes, polyurethanes, polyolefins, polyesters, polyetherimides and polyamides. Based on application, the industry is divided into automotive, industrial, electrical and electronics, consumer goods, medical, and others.

Regional outlook of the global thermoplastic elastomers market

The global thermoplastic elastomers market is classified into five geographical regions: North America, Europe, Latin America, Asia-Pacific, Middle East and Africa. According to the thermoplastic elastomers industry analysis, North America is expected to dominate the market and account for a considerable share of revenue in 2021. Due to the large demand in automotive, electronics and electronics, packaging and construction, the North American zone is becoming one of the biggest consumers of plastics. Additionally, due to their versatility, ease of molding, and development of desired shape, thermoplastic elastomeric polymers have many uses in all industries. In addition, the market for new electric vehicles with light passenger cars is expanding in the United States and Canada. Many automakers choose plastic vehicle parts because they allow them to achieve low-cost production and improve their bottom line. These factors are influencing the growth of the thermoplastic elastomers market in North America.

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Thermoplastic elastomers market players

Some of the major companies in the thermoplastic elastomers market are Arkema SA, Bayer Material Science LLC, BASF SE, Evonik Industries, EMS Group, LyondellBasell Industries, Huntsman Corporation, Kraton Polymers, Sinopec, Nippon Polyurethane Industry Company Ltd., TSRC Corporation, and The Dow . chemical company

Questions Aanswered Bthere Jhis Rreport

  • What was the market size of Thermoplastic Elastomer Market in 2021?
  • What will be the CAGR of the thermoplastic elastomers market during the forecast period from 2022 to 2030?
  • Who are the key players in the global thermoplastic elastomers market?
  • Which region held the largest thermoplastic elastomers market share in 2021?
  • What are the key market drivers of Thermoplastic Elastomer Market?
  • Who is the largest end user of the thermoplastic elastomers market?
  • What will be the market value of thermoplastic elastomers in 2030?

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