Global Thermoplastic Elastomers Market is Expected to Reach USD 15.3 Billion in 2018: Transparency Market Research.
Albany, NY (PRWEB) February 02, 2013
In terms of revenues, the market was valued at USD 9.9 billion in 2011 and is expected to reach USD 15.3 billion by 2018, growing at a CAGR of 6.4% from 2012 to 2018.
Thermoplastic elastomers (TPE) market is primarily driven by the growing demand for light weight and high performance materials from the automobile industry across the world. Shift towards replacing PVC with thermoplastic elastomers from major end use industries is also expected to drive TPE demand over the next five years. However, the volatile nature of raw material prices and the regulatory issues due to growing environmental concerns are expected to hinder the market growth.
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Styrenic block copolymers (SBCs) made up the largest segment of TPE products, accounting for close to 48% of total TPEs consumed in 2011. SBCs are mostly used for paving, roofing and in the footwear industry for high quality shoes. However, SBC demand is expected to remain stagnant over the next five years, as the market nears maturity. Thermoplastic vulcanizates (TPVs) is expected to be the fastest growing TPE product with an estimated CAGR of 6.6% from 2012 to 2018.
Asia Pacific has emerged as the leading consumer of thermoplastic elastomers and accounted for over 40% of the global demand in 2011. TPE consumption in the region is expected to grow at a CAGR of 5.4% from 2012 to 2018. The growth of automotive industries mainly in China and India is propelling the growth of TPEs market in the region. In terms of consumption, Europe is the third largest market; however demand in the region is expected to remain stagnant owing to economic issues and general slowdown in key application industries such as automotive and construction.
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Key participants in the TPE industry include Sinopec, Bayer, BASF, Kraton, Huntsman Corporation, Dow Chemical Company, LCY Chemical, Dynasol, Nippon, Yantai Wanhua, TSRC, LG Chemicals, Dushanzi and so on. This study provides a detailed competitive landscape with company share analysis and detailed profiles of the companies mentioned above.
The report analyzes the global demand for thermoplastic elastomers in terms of both volumes (kilo tons) and revenues (USD million) from 2010 to 2018. The demand for each product type (SBCs, TPOs, TPUs, TPVs, COPEs & other) of TPEs is analyzed on the basis of their application and geographies from 2010 to 2018.