- Thermoplastic elastomers (TPE) have the distinct characteristics of rubber and plastic. It is used in manufacturing PVC and silicone. TPEs are widely used in the manufacture of automotive components due to their elasticity and flexibility. It has a recyclable nature, which makes it applicable in the industries of footwear, electronics, packaging, and medical devices.
For Market Research Report on “Asia Pacific Thermoplastic Elastomers Market” Visit -http://www.grandviewresearch.com/industry-analysis/asia-pacific-thermoplastic-elastomers-tpe-market
The Asia Pacific TPEs market is projected to attain revenue worth USD 7.82 billion by 2022. In 2014, it had an estimated market value of USD 4.63 billion. It has an objective of reaching over 2,000 kilo tons by 2022, at a 5.3% CAGR during 2015-2022 (forecast phase). The preference of TPEs over adhesives and industrial components will favor the market growth. TPEs are favored by the automotive industry due to the fact they reduce the overall car weight and also comply with environment regulations to reduce emissions. Improving economic progress in the region combined with applications across various industrial verticals will spur the Asia Pacific thermoplastic elastomers market demand.
Styrene block copolymers (SBC), thermoplastic polyurethane (TPU), copolyester elastomers (COPE), thermoplastic polyolefins (TPO), and thermoplastic vulcanizates (TPV) are the different TPEs in the market. SBCs are further segmented into styrene-butadiene-styrene (SBS), styrene-isoprene-styrene (SIS), and hydrogenated styrene block copolymers (HSBC). In 2014, SBCs accounted for more than 50% of the global market volume. It was followed by TPO which are used in fascia systems, bumpers, and instrument panels. TPV has a significant growth rate of 7.4% during the forecast phase. HSBCs are gaining popularity from applications of advanced materials and footwear.
China had the highest regional demand and had an estimated value of above USD 2 billion in 2014. Favorable regulations regarding the manufacture of TPEs in this area will boost the market growth over the forecast phase. In 2014, Japan contributed to more than 20% of the overall market volume. India, on the other hand, had more than 10% share of the global volume in the same period. It is expected a 5.6% CAGR over the interim of the next seven years.
The Asia Pacific thermoplastic elastomers market has already entered the maturity stage in all its applications. They are currently innovating to gain entry to markets to replace rubber as the primary component. The various industry participants of the market are Dow Chemical Company, BASF, Evonik Industries, Teknor APEX Company, and The Lubrizol Corporation.
Information Source: Grand View Research
To request a sample copy of this report, please complete the form below.
To purchase a copy of this report, please contact at
28 2nd Street, Suite 3036
San Francisco, CA 94105
Toll Free: 1-888-202-9519