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Market trends of Thermoplastic Elastomers Market; Growth, Size and Forecast 2027

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Anjali Pawar
Market trends of Thermoplastic Elastomers Market; Growth, Size and Forecast 2027

Thermoplastic elastomers (TPE) are a class of materials with rubber-like elasticity that can be molded, extruded, or processed like thermoplastics. They are widely used in applications where the combination of elasticity, durability, and ease of processing is required. The global Thermoplastic Elastomers Market is expected to grow at a CAGR of 5.2% from 2021 to 2026, reaching a market size of $20.8 billion.


One of the major drivers of the TPE market is the increasing demand from the automotive industry. TPEs are used in the manufacturing of interior and exterior parts such as door seals, dashboard skins, and airbag covers, among others. The growing demand for lightweight and fuel-efficient vehicles is expected to drive the demand for TPEs in the automotive industry.


Another important factor driving the growth of the TPE market is the increasing demand for medical devices. TPEs are used in medical devices such as catheters, syringe plungers, and respiratory masks, among others. The growing demand for medical devices due to the aging population and increasing healthcare expenditure is expected to drive the demand for TPEs in the medical industry.


The Asia-Pacific region is expected to be the fastest-growing market for TPEs, driven by the increasing demand from the automotive and consumer goods industries. China and India are expected to be the key markets in the region, with the increasing demand for lightweight and fuel-efficient vehicles and growing consumer goods industries.


The key players in the TPE market include Kraiburg TPE, Arkema S.A., LyondellBasell Industries Holdings B.V., Covestro AG, and ExxonMobil Chemical Company, among others. These companies are focusing on product innovation, strategic partnerships, and mergers and acquisitions to expand their market share and strengthen their position in the market.


Read more @ https://creativeedge16.blogspot.com/2023/03/thermoplastic-elastomers-market.html

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