DUBLIN--(BUSINESS WIRE)--The "Global Thermoplastic Elastomers by Product, Market and Country, 10th Edition" report has been added to ResearchAndMarkets.com's offering.
This industry study presents historical demand data (2007, 2012, and 2017) and forecasts for 2022 by product (styrenic block copolymers, thermoplastic polyolefins, polyolefin elastomers, thermoplastic polyurethanes, thermoplastic vulcanizates, copolyester elastomers) and market (motor vehicles; consumer goods; asphalt and roofing; adhesives, sealants and coatings; industrial products).
The study also evaluates company market share and provides analysis on industry competitors, including:
- Exxon Mobil
- Mitsui Chemicals
Economic Development, Performance Advantages Spurring Growth in the Global Thermoplastic Elastomer Market
Robust growth in developing markets like Thailand and India will drive gains in the near term, stimulated by rapid economic development and slow but steady market penetration of TPEs. Adoption of TPEs will also continue to advance in the developed world, as concerns about competitive materials bring TPEs to the forefront.
TPEs Continue Takeover from Competitive Materials like PVC and Rubber
In North America and Western Europe, concerns about phthalate plasticizers in PVC products will cause manufacturers to voluntarily limit their use, particularly in medical devices and consumer products. TPEs’ inherent flexibility and safety will present an opportunity for them to take over PVC’s previous applications, such as IV bags and tubing.
In industrial component and motor vehicle markets, TPEs - particularly TPV - will see growth over thermoset rubbers, boosted by TPEs’ recyclability, ease of processing, and suitability for overmolding applications relative to rubber.
Motor Vehicle Market Penetration to Grow in Emerging Markets, Soft Touch Interiors
Motor vehicle applications for TPEs in developed world markets are beginning to reach maturity in exterior and structural components. However, two factors will continue to support the world’s largest market for these materials.
First, because TPE adoption has typically lagged in developing world markets like China and India, this leaves significant opportunity for TPE suppliers targeting the Asia/Pacific region, and TPE adoption will continue to rise. Growth segments include components still made from EPDM rubber, such as door and window seals.
Second, in developed world markets, soft touch feel and good weatherability will continue to drive TPE adoption in interior skins and components. Ease of processing will lead TPEs to overtake rubber in engine applications.
US Remains Strong Global Production Base, Despite More Rapid Gains in China
Although market gains are faster in the developing world, a number of TPE suppliers are expanding capacity in the US, including Covestro, DowDuPont, Lubrizol, and Mitsui Chemicals. This is because the US possesses numerous advantages as a global supplier of TPEs: low energy costs, a skilled workforce, and a number of large multinational customers that are headquartered in the country.
In addition, a number of smaller TPE manufacturers based in the developing world are building factories in the US, as they seek to broaden their customer base into higher value added markets.
For more information about this report visit https://www.researchandmarkets.com/research/lw7qw8/global?w=4