PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1749591
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1749591
The thermoplastic elastomers market is expected to reach USD 38.94 billion by 2030 from USD 30.83 billion in 2025, at a CAGR of 4.8% during the forecast period.
Scope of the Report | |
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Years Considered for the Study | 2021-2030 |
Base Year | 2024 |
Forecast Period | 2025-2030 |
Units Considered | Value (USD Million/USD Billion), Volume (Kilotons) |
Segments | Type, End-Use Industry, and Region |
Regions covered | Asia Pacific, North America, Europe, Middle East & Africa and South America |
The thermoplastic elastomers market is seeing growth based on the increasing demand from the automotive, consumer goods, and medical industries. Thermoplastic elastomers are particularly suited for lightweight, high-performance applications as they offer a unique combination of flexibility, durability, and recyclability. The countries that are gaining the most traction with thermoplastic elastomers are adopting the sustainable material, the rise of electric vehicles, and environmentally friendly options, and desires for ergonomic and soft touch products. Additionally, advances in thermoplastic elastomer formulations have also increased the use of thermoplastic elastomers for consumer packaging, sporting goods, and medical devices. The thermoplastic elastomers market is expanding throughout the world, particularly in the Asia Pacific and North American markets, due to the trend toward finding sustainable alternatives and government support for recyclable materials.
"Building & construction to be the second-largest end use industry."
The building & construction industry emerged as the second-largest end-use sector in the thermoplastic elastomers market. Thermoplastic elastomers are ideal for these types of applications because they offer flexibility, weather resistance, and can be easily processed. Their capacity to endure severe environmental conditions and remain functional under constant use for extended periods aligns well with modern requirements for infrastructure. Increased demand for green certifications, sustainable building products, and energy-efficient buildings is also driving the trend toward thermoplastic elastomers. Their uptake in this sector is also fast-tracked by the increase in infrastructure and urbanisation, particularly in developing economies.
"North America is estimated to be the second fastest-growing market."
North America is the second-largest market in the global market for thermoplastic elastomers. Its strength is fueled by strong demand from major industries such as automotive, construction, and consumer goods. The manufacturing prowess of the region and focus on green materials also give it a strong market position. The region also has a highly capable technological capability that supports innovation through R&D and often larger companies that are using TPEs in new innovations. In addition, "lightweighting" or lighter-weight and higher-performance materials have also been growing in demand in the automotive sector, partly to increase efficiency and design flexibility.
By Company Type: Tier 1: 25%, Tier 2: 42%, and Tier 3: 33%
By Designation: C-level Executives: 20%, Directors: 30%, and Other Designations: 50%
By Region: North America: 20%, Europe: 10%, Asia Pacific: 40%, South America: 10%, and Middle East & Africa 20%
Notes: Other designations include sales, marketing, and product managers.
Tier 1: >USD 1 Billion; Tier 2: USD 500 million-1 Billion; and Tier 3: <USD 500 million
Companies Covered: Arkema SA (France), Asahi Kasei Corporation (Japan), BASF SE (Germany), The Dow Chemical Company (US), Covestro AG (Germany), Huntsman Corporation (US), Exxon Mobil Corporation (US), Lubrizol Corporation (US), Mitsubishi Chemical Company (Japan), and DuPont (US), among others are covered in the report.
The study includes an in-depth competitive analysis of these key players in the thermoplastic elastomers market, with their company profiles, recent developments, and key market strategies.
Research Coverage
This research report categorizes the thermoplastic elastomers market based on type (Styrene block copolymer (SBC), Thermoplastic polyurethane (TPU), Thermoplastic polyolefin (TPO), Thermoplastic vulcanizate (TPV), Polyester ether elastomer (COPE), Polyether block amide (PEBA)), end-use industry (Automotive, Building & Construction, Footwear, Wire & Cable, Medical, Engineering, and Other End-use Industries), and region (Asia Pacific, North America, Europe, South America, and Middle East & Africa). The report's scope covers detailed information regarding the drivers, restraints, challenges, and opportunities influencing the growth of the thermoplastic elastomers market. A detailed analysis of the key industry players has been done to provide insights into their business overview, products offered, and key strategies, such as partnerships, agreements, product launches, expansions, and acquisitions, associated with the thermoplastic elastomers market. This report covers a competitive analysis of upcoming startups in the thermoplastic elastomers market ecosystem. Reasons to Buy the Report
The report will offer the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall thermoplastic elastomers market and the subsegments. This report will help stakeholders understand the competitive landscape, gain more insights into positioning their businesses better, and plan suitable go-to-market strategies. The report will help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the thermoplastic elastomers market