Scienza e Tecnologia
TPE Market worth $26.3 billion by 2026 - Exclusive Report by MarketsandMarkets™
https://www.marketsandmarkets.com/Market-Reports/thermoplastic-elastomers-market-1012.html
Automotive is the major application segment for TPE. The recovery of automotive sector in the across the world is driving the TPE market during the forecast period. Moreover, the development of eco-friendly technologies for production of TPE and growing demand for electric & hybrid vehicles are new opportunities in TPE market.
Automotive is the largest application in the TPE market. TPE is used in exterior filler for panels, wipers, rocker panels, body seals, automotive gaskets, door & window handles, other under-the-hood applications. The segment account for about 33% market share in terms of volume in 2020. The sector is in declining phase for past two year (2018-2019) due to global economic slowdown. However, the segment in expected to recover in forecast period. Moreover, focus towards electric and hybrid vehicle will provide new opportunities for TPE manufacturer.
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APAC accounted for the largest share in terms of volume and value of the TPE market in 2020, followed by North America and Europe . The use of TPE is expected to witness the highest growth in the APAC region during the forecast period. The market in this region is driven by the recovery of the automotive sector in China , India , and Southeast Asian countries. Global automobile manufacturers are investing in APAC countries in establish their production plants to enhance their market presence in the region. China is the significant market for automobile and the largest consumer of TPE in the world. The focus towards the development of New Energy Vehicles (NEVs) to reduce carbon footprint will drive the automotive industry in China which will further enhance the demand of TPE during the forecast period.
Arkema S.A ( France ), Asahi Kasei Corporation ( Japan ), BASF SE ( Germany ), The Dow Chemical Company (The U.S), Covestro AG ( Germany ), Huntsman Corporation (The U.S), Teknor Apex Company (The U.S), Lubrizol Corporation (The U.S), Tosh Corporation ( Japan ), Kraton Corporation (The U.S), China Petroleum and Chemical Corporation ( China ), Mitsubishi Chemical Company ( Japan ), DuPont (The U.S), SIBUR ( Russia ), Evonik Industries AG ( Germany ), Dynasol Elastomers ( Spain ).
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