According to the latest market research study by Technavio, the global TPE market is expected to grow at a CAGR of close to 8% during the forecast period 2017 to 2021.
This report by Technavio provides an in-depth analysis of the global TPE market regarding revenue and emerging market trends. The report also includes a competitive vendor analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the end-user
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The top three revenue contributing end-user segments are discussed below
Global TPE market in the automotive industry: The market for TPEs in the automotive segment is expected to post the highest growth during the forecast period. The growing use of various types of TPEs for replacing traditional rubber and EPDM (ethylene propylene diene monomer) in many applications in the automotive industry is the major growth driver. These materials are widely used for manufacturing interior and exterior ancillaries, sealing systems, and under-the-hood components.
“Factors such as the need for reducing curb weight to adhere to the emission norms, which are becoming more stringent, and the adoption of cost-effective fabrication procedure makes TPE an essential component for manufacturing automotive components. The replacement of components made of metals and conventional rigid plastics with TPEs will fuel the growth of the segment,” says Ajay Adikari, a lead analyst at Technavio for research on specialty chemicals.
Global TPE market in the construction and infrastructure industry: The global TPE market in the construction and infrastructure industry is projected to experience rapid growth during the forecast period. The growth can be attributed to the rising use of TPEs for paving and roofing applications, coupled with the increased replacement of PVCs in fluid handling systems.
Global TPE market in the consumer electronics and appliances industry: In the consumer goods market, product innovation and diversification are the key strategies applied by the vendors to gain a competitive edge. TPE market in this segment is likely to experience a steady growth during the forecast period due to the increased incorporation of soft-touch TPEs for manufacturing consumer goods, such as shavers and clothing irons.
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The top vendors operating in the global TPE market are:
- China Petroleum & Chemical Corporation (Sinopec)
- Dynasol
- LCY Chemical
- LyondellBasell Industries
- PolyOne
The other prominent vendors in the market include Arkema, BASF, Covestro, DuPont, Evonik, Huntsman, and TSRC.
A more detailed analysis is available in the Technavio market research report titled, ‘Global TPE Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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- Global Advanced Composites Market 2016-2020
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