The report on the Asia Pacific Thermoplastic Elastomers market includes future industry Trends, Size, Share, Past, current data and deep analysis, and forecast. This market offers a coordinated and orderly methodology for the foremost important aspects that have influenced the market within the past and also the forthcoming market prospects on which the organizations can rely on before investing. It furnishes with an inexpensive examination of the marketplace for better decision-making and assessment to put resources into it. The report analyses the weather and a whole detailed outlook of the foremost players that are likely to feature to the demand within the Asia Pacific Thermoplastic Elastomers market within the upcoming years.
Main features of the report:
- To provide detailed analysis of the market structure together with forecast of the varied segments and sub-segments of the world Asia Pacific Thermoplastic Elastomers Market.
- A perfect background analysis, which has an evaluation of the parent market.
- Important changes in market dynamics
- Track and analyse competitive developments like joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments within the Asia Pacific Thermoplastic Elastomers Market.
- Emerging niche segments and regional markets
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Industry Insights
Asia Pacific thermoplastic elastomers market size was USD 4.63 billion in 2014 and is anticipated to reach over USD 7.82 billion by 2022. It is expected to witness substantial growth over the forecast period owing to growing automotive manufacturing in countries such as India, China, Indonesia and Thailand. The introduction of government policies that support investment along with private players emphasizing on enhancing technologies is anticipated to further fuel market demand.
TPEs have superior properties such as moisture resistance, excellent elasticity and flexibility and tactile grip and hence are widely used in automotive components. Demand from other industries such as footwear, medical devices, and electronics is expected to remain a key driving factor for growth over the forecast period. Growth in demand is expected owing to the ease of recycling and processing with negligible emission is anticipated to result in higher demand. They have replaced thermosets in varied applications including medical devices and electronic components. TPE are gaining prominence mainly on account of the high degree of purity, low level of extractable compounds, cost effectiveness and recycling ability. They are popularly known as an ideal substitute for latex and PVC owing to above-mentioned factors.
Block copolymers and ionomers are the major raw materials for manufacturing TPE. Block copolymer process utilizes SBS rubber (styrene-butadiene-styrene) formed by combining a long block of polybutadiene with a short block of polystyrene where as ionomer process includes copolymers of ethylene and methacrylic acid. Increasing disposable income, rapid industrialization, and economic progress has progressively fostered automotive, electronics and consumer goods sectors, resulting in higher demand for component manufacturing end-uses. This aspect is likely to boost market growth, especially in India and China.
Improvement in the production process has propelled demand for biodegradable and recyclable TPE producing less scrap material. Additionally, packaging application segment is expected to witness exponential growth owing to increasing demand for transparent product packaging in different markets including consumer goods, electronics and medical applications. Other growing industries are projected to boost thermoplastic elastomers in personal care products, footwear, wire and cable, clothing applications and sports and leisure equipment.
Market players may have to confront major barriers to substitute rubber materials. Key companies are gradually undertaking new product development and innovation to allow entry into new marketplaces where rubber remains the dominant‘most applications.
Product Insights
SBC accounted for 50% of the overall volume and emerged as the largest application segment in 2014. Demand for hydrogenated SBC is catching momentum in sealants, adhesives, coatings, films and coating applications on account of its superior pressure sensitivity. Rising demand from applications including footwear, advanced materials and paving & roofing is expected to further improve industry growth over the forecast period.
TPO finds its widespread applications in automotive industry such as fascia systems, instrument panels and bumpers. It emerged as the second most consumed product in the market. Key automotive OEMs are increasingly adopting plastics in automotive components as a substitute for alloys and metals in order to reduce weight, improve structural strength and gain chemical resistance.
TPV is estimated to experience the highest growth at a CAGR of 7.4% over the forecast period amongst all products from 2015 to 2022. TPV is broadly used in fluid handling, consumer goods and automotive applications. Growing usage of TPV in the automotive sector, such as interiors and under the hood components, on account of its high oil and heat resistance, is anticipated to be an important driving factor for market growth over the forecast period. TPU is mostly used in construction, hose & tubing, wire & cables and automotive. Its superior thermal insulation and acoustic properties, when compared to thermoset PU, plays a vital role contributing toits consumption in the above-mentioned applications.
Regional Insights
China TPE market was the market leader in Asia Pacific with an estimated revenue exceeding USD 2 billion in 2014. The market in the region experiences a high demand for TPU and TPV in automotive and medical applications respectively. Thermoplastics consumption in automotive applications is used as an alternative to alloys and metals owing to favourable government policies. In addition, increasing production of passenger cars is anticipated to further augment the regional market demand from 2015 to 2022.
Competitive Insights
The market is fragmented with numerous players including BASF, DuPont, Arkema, Huntsman Corporation, Dow Chemical Co. Other key participants include Bayer Material Science, Advanced Elastomer Systems L.P., EMS Group, China Petroleum & Chemical Corporation, Dynasol Elastomer LLC, Kraton Polymer LLC, Evonik Industries,LG Chemicals, LyondellBasell Industries, LCY Chemical Corporation,Lubrizol Corporation, PolyOne Corporation, Nippon Polyurethane Industry Company Ltd,Teknor APEX Company, Kraiburg TPE,TSRC Corporation, Polymax TPE and RTP Company.
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The Report entitled 2019-2026 Global Asia Pacific Thermoplastic Elastomers Market Report explores the essential factors of the Asia Pacific Thermoplastic Elastomers market considering such as industry situations, market demands, market players adopted business strategies and their growth scenario.
The Global Asia Pacific Thermoplastic Elastomers market has been separated by this report based on the key players profiles, Type, Application and Regions.Thermoplastic elastomers (TPE) are high-performance materials, whose application in the automotive industry is rapidly increasing.
TPEs are special types of plastic, which are not only cheaper than metals but also help to make automobiles more energy-efficient by reducing the weight, in addition to providing durability, corrosion resistance, toughness, design flexibility, resiliency, and high performance at low cost.Get Exclusive Sample Report @ https://dataintelo.com/request-sample/?reportId=549TPEs serve the automotive industry in a myriad of applications, some of which include the manufacturing of high-quality automotive instrument panels, wheel covers, dashboard components, pillar trims, door liners and handles, seat backs, and seat belt components, among others.
The light weight of TPE enables more fuel-efficient vehicles.
Growing demand for lightweight and high-performance plastics in the automotive industry, to provide increased efficiency and design flexibility, is primarily responsible for the growth of the TPE market.Read More @ https://dataintelo.com/report/asia-pacific-thermoplastic-elastomers-market/
Thermoplastic Elastomers Market is segmented on the basis of product type, application and geography.
The Asia-Pacific thermoplastic elastomers market is segmented based on product type into eight notable segments; styrenic block copolymer (SBC), thermoplastic polyurethane (TPU), thermoplastic polyolefins (TPO), thermoplastic vulcanizates (TPV), copolyester ether elastomers (COPE), polyether block amide elastomers (PEBA), polyether-ester elastomer (TPEE) and others.
The Thermoplastic elastomers market is dominated by Styrenic block copolymer with 43.7% market share in 2016, growing at the highest CAGR of 5.5% in the forecast period.Styrenic block copolymer (SBC) is sub segmented into styrene-butadiene-styrene (SBS), styrene-isoprene-styrene (SIS) and hydrogenated styrene block copolymers (HSBC).
Thermoplastic polyurethane (TPU) is sub segmented into polyester, polyether and polycaprolactone.
Thermoplastic polyolefins (TPO) is sub segmented into polyethylene and polypropylene.
Thermoplastic polyolefins (TPO), thermoplastic vulcanizates (TPV) is sub segmented into polypropylene, butyl/ halobutyl, polyacrylate.
Thermoplastic elastomers come with physical properties that belong to both rubber and thermoplastics, thereby making them flexible and soft.
One of the key factors working in favor of the global thermoplastic elastomers market is its increased use in the automotive industry.
du Pont de Nemours and Company, KRATON Corporation, Exxon Mobil Corporation, Celenese Corporation, BASF SE, and Arkema Group are some names to reckon with in the global thermoplastic elastomers market.Request A Sample - https://www.transparencymarketresearch.com/sample/sample.php?flag=S_id=807Asia Pacific to Gain Prominence Due to High Demand from End Use IndustriesConsidering the segmentation based on regions, the global thermoplastic elastomers market is split into the key regions of Asia Pacific, Middle East and Africa, Europe, Latin America, and North America.
India and China are two significant regions for the Asia Pacific thermoplastic elastomers market that contribute substantially for the growth of the market in forthcoming years.Increased Demand for Automotive Industry to Propel Growth of the MarketThe global thermoplastic elastomers market is estimated to ride high on the ability of the product to be customized as per the specific needs of each medical application.
Such preferences open up new opportunities of growth for the global thermoplastic elastomers market during the period of review, 2018 to 2026.In addition, thermoplastic elastomers find use in prosthetic cushions, caps, seals, tubing, closures, anti-slip surfaces or handles, dental and medical hoods, caps, and many more.
Owing to its versatility, ease of processing, and lightweight properties make it suitable for use in the automotive industry.The information shared in this review is based on a TMR report, bearing the title, “Thermoplastic elastomers market (Type - Block Copolymers and Blends; End use - Automotive, Building and Construction, Medical, Consumer Goods, Sporting Goods and Toys) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2018 to 2026”Request for Covid19 Impact Analysis - https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19_id=807About UsTransparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.Our reports are single-point solutions for businesses to grow, evolve, and mature.
