Global Thermoplastic Elastomers (TPE) Market to Exceed USD 25 billion by 2020, According to Technavio

According to Technavio’s latest report, the global thermoplastic elastomers market is likely to grow at a CAGR of around 7% during the forecast period.

In this report, Technavio covers the present scenario and growth prospects of the global thermoplastic elastomers market through 2015-2019. The report also presents the vendor landscape and a corresponding detailed analysis of the top four vendors operating in the market. The market is segmented into the following regions:

• APAC
• Americas
• Europe
• ROW

APAC: fastest growing TPE market

The TPE market in APAC is set to witness the fastest growth in comparison to other geographical segments. Increased consumption of TPE in the rapidly growing automotive industry will lead to a growth of over 6% CAGR during the forecast period.

Technavio predicts growing infrastructural developments in the region, coupled with the emergence of China as a global manufacturing hub, to be the main reasons for the increased consumption of TPE in the region.

According to Debasish Nayak, a lead analyst for the speciality chemicals industry at Technavio, “The dominance of China and India in manufacturing of footwear, along with the increased use of soft-touch TPE in the consumer electronics and appliances industry in Japan, Hong Kong, Malaysia, Taiwan, South Korea, is expected to have a major positive impact on the regional TPE market.”

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Americas: moderate growth at a CAGR of over 5%

Technavio expects the market in the Americas to witness moderate growth during the forecast period because of the near saturated condition of the TPE market in North America. The TPE demand in the Americas is driven by the recovering real estate market and the rising demand for polymer-modified asphalt for infrastructural developments.

The healthcare industry is also a major end-use segment for the TPE market in the region, while the growing trend of replacing PVC with styrenic TPE for tubular applications is a strong driver and an emerging trend in the market.

The market in the Americas will also benefit to a large extent from the significant industrial growth in Brazil, Argentina, and Chile. The increased spending on infrastructure activities in Brazil in preparation of the 2016 Rio Olympics will further increase the demand.

Europe: saturation of TPE market to impact growth

Technavio expects the market in Europe to witness sluggish growth, in comparison to other geographic segments, during the forecast period because of the saturation of the TPE market in the developed western part of the region. The construction and infrastructure industry in Western Europe, one of the major end users of TPE, has been recovering quite slowly from the 2008 recession.

“The recent debt crisis in Greece is further slowing down the overall European financial recovery, thus, forcing manufacturers to rely on other end-user segments to maintain their profitability,” says Debashish.

ROW: increased government spending fuels growth

The market in the ROW is predicted to witness significant growth, in comparison to other geographic segments, during the forecast period, because of the increased government spending on infrastructure development in Middle Eastern countries, along with the improving healthcare conditions in the emerging economies in Africa.

The demand for TPE in the region is further being fueled by the remarkable growth of the personal care and automobile sectors in recent years. The varied usage of TPE as additives in motor oils, road and roofing sealants, construction materials, personal hygiene, and durable applications is also driving the demand in the region.

Key Vendors:

• Dynasol
• PolyOne
• LCY
• The Dow Chemical

Some of the other prominent vendors listed in the report are: A. Schulman (Network Polymers), Asahi Kasei Corp., API, Bailey, BASF, and Bayer.

Browse Related Reports:

• Global Thermoplastic Polyurethane Market 2015-2019
• Global Polymethyl Methacrylate (PMMA) Market 2015-2019
• Global High-performance Thermoplastics Market 2015-2019

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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