Albany, NY -- (SBWIRE) -- 02/11/2016 -- The global demand for thermoplastic elastomers was 3,096.4 kilo tons in 2009 which increased to 3,407.9 kilo tons in 2010. The global market for thermoplastic elastomers is expected to grow at a CAGR of 5% from 2012 to 2018.

The demand for thermoplastic elastomers is driven primarily by the growing demand for light weight and high performance material from the automobile industry which is the biggest end use industry for thermoplastic elastomers, accounting for approximately 50% of the total TPEs consumption. Shift towards replacing PVC with thermoplastic elastomers from the major end use industries such as automobiles and construction is also acting as one of the crucial factors propelling the growth of the market. However, the volatility in raw material prices and the regulatory issues owing to growing environmental concerns are acting as major factors which are inhibiting market growth. Owing to these issues, the world is shifting towards developing bio-based alternatives to synthetic thermoplastic elastomers which provides a clean and an economically feasible solution to the growing demand of thermoplastic elastomers.

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The global demand for SBCs in footwear market was estimated to be 415.8 kilo tons in 2011 and is expected to reach 540.5 kilo tons by 2018, growing at a CAGR of 3.9% from 2012 to 2018. In terms of revenues, the market was estimated to be USD 939.5 million in 2011 and is expected to reach USD 1,367.3 million by 2018, growing at a CAGR of 5.3% from 2012 to 2018.

Thermoplastic elastomers are materials which when heated soften up, and harden when cooled. Most of them are soluble in some solvents and can even burn to some degrees. Thermoset elastomers, on the other hand, undergo a chemical change which makes them completely infusible and insoluble. They also lack the characteristic of regaining their original shape. This is the principle difference between thermoset and thermoplastic elastomers. Thermoplastic elastomers can be recycled and can be reused whereas, thermoset elastomers generate huge amount of waste during their processing. Natural and synthetic rubber such as nitrile, latex, millable polyurethane, neoprene, silicone and butyl attain their properties through vulcanization and are typical examples of thermoset elastomers.

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Some of the other benefits offered by thermoplastic elastomers over thermoset elastomers include:

Design flexibility
Lower fabrication cost and shorter processing time
Little or no compounding required
Lower consumption of energy
Environmental friendly
Broad range of products

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