PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1027777
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1027777
According to Stratistics MRC, the Global Thermoplastic Polyester Elastomer (TPEE) Market is accounted for $1.10 billion in 2020 and is expected to reach $1.93 billion by 2028 growing at a CAGR of 7.3% during the forecast period. Factors such as rising expenditure on healthcare, increasing popularity of smart wearables, and growing automotive industry are driving the growth of the market. However, lack of awareness regarding the use of different grades of the product is hampering the growth of the market.
Thermoplastic polyester elastomer (TPEE) is a multiblock copolymer that contains materials with both thermoplastic and elastomeric properties. TPEE exhibits excellent anti-fatigue properties and high-temperature resistance. It also exhibits high impact resistance and good mechanical properties.
Based on the end user, the automotive segment is anticipated to expand at a rapid pace during the forecast period owing to the development of new grades of TPEE which has superior hydrolytic stability properties. By geography, Asia Pacific is going to have high growth during the forecast period which can be attributed to the increasing production of vehicles and growing manufacturing sector in the region.
Some of the key players profiled in the Thermoplastic Polyester Elastomer (TPEE) Market include BASF SE, DuPont, DSM, Mitsubishi Chemical, LG Chemicals, A. Schulman, SK Chemicals, RadiciGroup, TOYOBO, Covestro, SABIC, Celanese Corporation, Ashland Inc, Teijin Plastics, Sunshine Plastics, and Taiwan Changchun.
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