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Exactitude Consultancy Market Research analyses that the Thermoplastic Elastomers Market will witness a CAGR of 6.9% for the forecast period of 2023-2028 and is likely USD 16.00 billion in 2022 to reach at USD 25.5 billion by 2028.
New Research Study ❝ Thermoplastic Elastomers Market 2023-2028 Analysis by Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, and Investment Opportunities), Size, Share, and Outlook❝ has been added to Exactitude Consultancy. The report evaluates the market size of the thermoplastic elastomers Market and studies the strategy patterns adopted by the prominent international players. The report also analyses the market's size in terms of projected revenue for the future. All of the data numbers, such as percentage splits and breakdowns, are calculated from secondary sources and confirmed from original sources. The market's supply and demand sides are also covered in the research. It provides profiles and analysis of market leaders and other prominent businesses.
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Drivers
The market for thermoplastic elastomers will grow as energy-efficient buildings receive more attention.
Building and construction applications are seeing an increase in demand for thermoplastic elastomers. Thermoplastic elastomers are utilised in a broad range of structural and ornamental applications, including plumbing fixtures, siding, flooring, insulation, panels, doors, windows, glass, bathroom units, gratings, and railings. In the building and construction industry, thermoplastic elastomers are excellent and affordable substitutes for rival materials including silicone, natural rubber, latex, and PVC compounds.
Market Will Be Driven by Rise in Demand for Lightweight Materials in Automotive Industry
With a 54.9% market share in 2022, the automotive end-use industry sector led the thermoplastic elastomers market globally. Additionally, throughout the projected period, the category is anticipated to expand at a noteworthy CAGR of 6.8%. Due to its advantageous qualities including weather resistance, oil and grease resistance, abrasion resistance, and vibration damping, automotive manufacturers rely on thermoplastic elastomers. Control elements, air bags, anti-slip mats, window trims, cowl panels, spoilers, seals, and air duct components are examples of common thermoplastic elastomer uses in automobiles.
Restraints
The use of thermoplastic elastomers (TPE) as fillers for products where huge volumes of materials are needed at a cheap cost would be restricted due to TPE's high cost compared to traditional plastics, rubbers, and thermoset materials. TPE materials should not be burned because they release toxic isocyanates and caprolactam, which are possible pollutants and carcinogenic agents. TPE materials lose their surface hydrophobicity quickly when used in outdoor applications, particularly in high voltage insulation applications. During the anticipated period, these constraints are anticipated to have a detrimental impact on market growth for thermoplastic elastomers.
Prominent Key players of the Thermoplastic Elastomers Market survey report:
Historical data available in the report elaborates on the development of the Thermoplastic Elastomers on national, regional and international levels. Market Research Report presents a detailed analysis based on the thorough research of the overall market, particularly on questions that border on the market size, growth scenario, potential opportunities, operation landscape, trend analysis, and competitive analysis. Some Key Competitors of the Market are – Arkema S.A, Asahi Kasei Corporation, BASF SE, The Dow Chemical Company, Covestro AG, Huntsman Corporation, Teknor Apex Company, Lubrizol Corporation, Tosh Corporation, Kraton Corporation. and Other.
Key Developments in Thermoplastic Elastomers Market
In January 2022, Arkema announced a 25% increase in its global Pebax elastomer production capacity by investing in Serquigny in France. This investment will notably enable increased production of the bio-circular Pebax, Rnew, and traditional Pebax ranges. In December 2021, Celanese Corporation announced that it has completed the acquisition of the Santoprene TPV elastomers business of Exxon Mobil Corporation for a total purchase price of USD 1.15 billion, which include two world-scale production facilities in Pensacola, Florida, US, and Newport, Wales, UK with over 190 kt of total annual production capacity.
Thermoplastic Elastomers Market Segmentation :
Global Market by Type, 2023-2028, (In USD Million)
Styrene Block Copolymer (Sbc) Thermoplastic Polyurethane (Tpu) Thermoplastic Polyolefin (Tpo) Thermoplastic Vulcanizate (Tpv) Polyester Ether Elastomer (Cope) Polyether Block Amide (Peba)
Global Market by End-Use Industry, 2023-2028, (In USD Million)
Automotive Building & Construction Footwear Wire & Cable Medical Engineering Others
Thermoplastic Elastomers Market Regional Insights:
The country section of the report also provides individualistic market impacting factors and changes in regulation within the market internally that impacts the present and future trends of the Thermoplastic Elastomers Market. Data points like consumption volumes, price analysis, production sites and volumes, import export analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the preeminent pointers used to forecast the market scenario for individual countries.
North America (United States, Canada and Mexico) Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe) Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia) South America (Brazil, Argentina, Colombia, and Rest of South America) Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
Key market aspects are illuminated in the report:
Executive Summary: It covers a summary of the most vital studies, the Global market increasing rate, modest circumstances, market trends, drivers and problems as well as macroscopic pointers.
Study Analysis: Covers major companies, vital market segments, the scope of the products offered in the Thermoplastic Elastomers Market, the years measured, and the study points.
Company Profile: Each Firm well-defined in this segment is screened based on a product, value, SWOT analysis, their ability and other significant features.
Manufacture by region: This Thermoplastic Elastomers report offers data on imports and exports, sales, production and key companies in all studied regional markets
What is the purpose of this report?
A thorough review of the Thermoplastic Elastomers Market, including regional markets. Comprehensive coverage of all segments of the Market to assess trends, developments and market size forecasts till 2023-2028. A thorough examination of deals involved in the Market including product portfolio, revenue, SWOT analysis and recent company advancements are examined in the company profile. The growth matrix analyzes the product categories and geographic regions in which market companies should focus their efforts to invest, consolidate, expand and/or diversify.
There are 13 Sections to show the Thermoplastic Elastomers Market :
Chapter 1: Thermoplastic Elastomers Market Overview, Drivers, Restraints and Opportunities, Segmentation overview
Chapter 2: Market Competition by Manufacturers
Chapter 3: Production by Regions
Chapter 4: Consumption by Regions
Chapter 5: Production, By Types, Revenue, and Market share by Types
Chapter 6: Consumption, By Applications, Market share (%), and Growth Rate by Applications
Chapter 7: Complete profiling and analysis of Manufacturers
Chapter 8 : Manufacturing cost analysis, Raw materials analysis, Region-wise manufacturing expenses
Chapter 9: Industrial Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10 : Marketing Strategy Analysis, Distributors/Traders
Chapter 11: Market Effect Factors Analysis
Chapter 12: Thermoplastic Elastomers Market Forecast
Chapter 13: Thermoplastic Elastomers Research Findings and Conclusion, Appendix, methodology, and data source
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Key questions answered in the report include:
What will the market size and the growth rate be in 2023-2028? What are the key factors driving the Thermoplastic Elastomers Market? What are the key market trends impacting the growth of the Thermoplastic Elastomers Market? What are the challenges to market growth? Who are the key vendors in the Thermoplastic Elastomers Market? What are the market opportunities and threats faced by the vendors in the Thermoplastic Elastomers Market? Trending factors influencing the market shares of the Americas, APAC, Europe, and MEA. Why Choose Powder Coatings Market Report?
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