Albany, NY -- (SBWIRE) -- 09/14/2017 -- Transparency Market Research, in its latest research report states, the global thermoplastic elastomers market will grow at a CAGR of 6.4% in terms of revenue from 2012 to 2018. This market was valued at $9.9 billion in 2011, and is expected to reach $15.3 billion by 2018. Additionally, the volumes of global thermoplastic elastomers market are expected to reach 4,879.7 kilo tons by 2018 from 3,480.4 kilo tons in 2011. This growth in terms of volume is expected to be at CAGR of 5.0% from 2012 to 2018. The report titled, "Thermoplastic Elastomers Market - Global Industry Analysis, Size, Share, Growth And Forecast 2012 - 2018", is available for sale on the company's website.
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The thermoplastic elastomers market (TPE) is expected to grow at a fast rate in the coming years. The primary factors driving the growth of this market are increasing demand for high performance and light weight material by the ever-expanding automobile industry. The other significant contributor to TPE market is the move by several end use industries to replace PVC with thermoplastic elastomers. Excellent processability, good UV and chemical resistance, recyclable, bondability, and good adhesion makes thermoplastic elastomers a commonly used material in many industries. Owing to such worthy properties, this material is extensively used in automobile industry, sealants, gaskets, medical and healthcare items, automotive interior parts, sporting goods, and many more places. However, strict regulatory framework and volatile nature of raw material prices are the two inhibitors negatively affecting this market.
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In terms of consumption, styrenic block copolymers (SBCs), a type of thermoplastic elastomer, constitutes about 48% of TPE segment. SBC is largely used in footwear industry for better quality of shoes, and is used in roofing houses, and paving in buildigs. However, this segment is likely to be sluggish as its market is reaching its maturity. On the other hand, thermoplastic vulcanizates (TPVs) segment is projected to grow at the fastest rate of CAGR of 6.6% from 2012 to 2018.
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Until 2011, Asia Pacific was the biggest market for TPE accounting for more than 40% of global demand. Growth in China and India's automobile sector is expected to push this demand in the region further at a CAGR of 5.4% from 2012 to 2018. The report further provides an overview of competitive landscape with profiling of big players in the industries such as Dow Chemical Company, BASF, Sinopec, Bayer, Kraton, Huntsman Corporation, LCY Chemical, Dynasol, Nippon, Yantai Wanhua, TSRC, Dushanzi, and LG Chemicals..
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