Thermoplastic Elastomer Global Market Report 2026

Thermoplastic elastomers (TPEs) represent a class of materials that combine the attributes of both thermoplastics and elastomers, demonstrating the elasticity and flexibility akin to rubber-such as materials (elastomers) and the processability and recyclability characteristic of thermoplastics.

The primary types of thermoplastic elastomers include thermoplastic polyurethane (TPU), styrenic block copolymer (TPE-S), thermoplastic vulcanizates, elastomeric alloys, thermoplastic copolyester, and other variants. Thermoplastic Polyurethane (TPU) is a specific type of synthetic polymer belonging to the family of thermoplastic elastomers (TPEs). This versatile material combines rubber-such as elasticity, flexibility, and durability with the processability of thermoplastics. Thermoplastic Polyurethane-based TPEs can undergo conventional thermoplastic processing techniques such as injection molding, extrusion, and blow molding. The constituent materials of thermoplastic elastomers include poly styrene, poly olefins, poly ether imides, poly urethanes, poly esters, and poly amides. These materials find applications in various industries such as automotive, building and construction, footwear, wire and cables, medical, engineering, and others.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs are impacting the thermoplastic elastomer market by increasing costs of imported polymers, compounding additives, processing equipment, and specialty elastomer grades. Automotive and industrial manufacturers in North America and Europe are most affected due to dependence on imported raw materials, while Asia-Pacific faces cost pressure on export-oriented elastomer production. These tariffs are increasing material costs and affecting pricing strategies. However, they are also supporting local compounding facilities, regional material innovation, and development of cost-effective elastomer alternatives.

The thermoplastic elastomer market research report is one of a series of new reports from The Business Research Company that provides thermoplastic elastomer market statistics, including thermoplastic elastomer industry global market size, regional shares, competitors with a thermoplastic elastomer market share, detailed thermoplastic elastomer market segments, market trends and opportunities, and any further data you may need to thrive in the thermoplastic elastomer industry. This thermoplastic elastomer market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The thermoplastic elastomer market size has grown strongly in recent years. It will grow from $30.28 billion in 2025 to $32.62 billion in 2026 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to expansion of automotive production volumes, increasing use of flexible polymer components, growth in footwear manufacturing, rising demand for durable consumer goods, availability of thermoplastic processing technologies.

The thermoplastic elastomer market size is expected to see strong growth in the next few years. It will grow to $44.81 billion in 2030 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to increasing adoption in electric vehicle systems, rising demand for sustainable elastomer materials, expansion of medical device manufacturing, growing use in wire and cable insulation, increasing focus on material lifecycle efficiency. Major trends in the forecast period include increasing adoption of lightweight elastomeric materials, rising demand for recyclable rubber alternatives, growing use in automotive sealing applications, expansion of medical-grade elastomers, enhanced focus on material durability.

Growing building and construction activities worldwide are significantly contributing to the growth of the thermoplastic elastomer market. Building and construction activities refer to the processes and operations involved in creating structures, buildings, infrastructure, and related facilities. Building and construction activities use thermoplastic elastomers for their versatility, durability, and ease of processing, providing an ideal material for applications such as seals, gaskets, roofing membranes, and insulation due to their resilient and weather-resistant properties, contributing to enhanced performance and longevity of construction materials. For instance, in June 2023, according to Construction Digital, a UK-based company that connects all construction brands, the construction industry in the UK is projected to grow by 12% in 2024, followed by a further increase of 3% in 2025. Therefore, growing building and construction activities worldwide will drive the thermoplastic elastomer market.

Major companies operating in the thermoplastic elastomer market are focusing on developing advanced products, such as transparent thermoplastic elastomer (TPE) grades, to meet the increasing demand for versatile and high-performance materials across various industries. Transparent thermoplastic elastomer (TPE) grade is a type of TPE that combines the properties of elastomers (rubber-like flexibility and elasticity) with the processing advantages of thermoplastics. For September 2023, Trinseo, a US-based manufacturer of plastics, launched APILON 52 XB-75A CRISTALLO. APILON 52 XB-75A CRISTALLO is a transparent thermoplastic elastomer (TPE) grade specifically designed for footwear applications. This product marks the first ester-based transparent thermoplastic polyurethane (TPU), expanding their portfolio in the fashion and footwear sectors. It is engineered for excellent processability with fast cycle times, making it compatible with injection molding technology.

In December 2023, Geo Performance Solutions, a US-based manufacturer of thermoplastic material, acquired Polymax TPE for an undisclosed amount. With this acquisition, GEON Performance Solutions aims to enhance its capabilities in the thermoplastic elastomer market by leveraging advanced technology and manufacturing expertise, enabling better service to customers in both the Asia-Pacific and North American regions. PolymaxTPE is a US-based manufacturer of thermoplastic elastomers (TPEs).

Major companies operating in the thermoplastic elastomer market are China Petroleum & Chemical Corporation, ExxonMobil Chemical Company, BASF SE, Asahi Kasei Corporation, Covestro AG, DuPont de Nemours Inc., Arkema S.A., Huntsman Corporation, Lubrizol Corporation, Evonik Industries AG, Avient Corporation, Teknor APEX Company, TSRC Corporation, HEXPOL TPE AB, RTP Company, KRAIBURG TPE, Americhem Inc., Audia Elastomers, Star Thermoplastic Alloys & Rubbers Inc., Advanced Elastomer Systems L.P., Dynasol Elastomers LLC, TPE Solutions Inc., Elastocon TPE Technologies Inc., Kraton Polymers LLC, Yantai Wanhua Polyurethane Co. Ltd., Nippon Polyurethane Industry Company Ltd.

North America was the largest region in the thermoplastic elastomer market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the thermoplastic elastomer market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the thermoplastic elastomer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The thermoplastic elastomers market consists of sales of consumer goods, automotive applications, medical devices, industrial applications, electrical, and electronics, and footwear. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Thermoplastic Elastomer Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses thermoplastic elastomer market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for thermoplastic elastomer ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The thermoplastic elastomer market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
• The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
• The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
• The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
• The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
• The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.

Scope

• Markets Covered:1) By Type: Thermoplastic Polyurethane (TPU); Styrenic Block Copolymer (TPE-S); Thermoplastic Vulcanizates; Elastomeric Alloys; Thermoplastic Copolyester; Other Types
• 2) By Material: Poly Styrenes; Poly Olefins; Poly Ether Imides; Poly Urethanes; Poly Esters; Poly Amides
• 3) By Application: Automotive; Building And Construction; Footwear; Wire And Cables; Medical; Engineering; Other Applications
• Subsegments:
• 1) By Thermoplastic Polyurethane (TPU): Polyester-Based TPU; Polyether-Based TPU
• 2) By Styrenic Block Copolymer (TPE-S): Styrene-Butadiene-Styrene (SBS); Styrene-Ethylene-Butylene-Styrene (SEBS)
• 3) By Thermoplastic Vulcanizates (TPV): Dynamic Vulcanized TPV
• 4) By Elastomeric Alloys: Thermoplastic Polyolefin (TPO); Miscellaneous Elastomeric Alloys
• 5) By Thermoplastic Copolyester (TPC): Polyether Block Amide (PEBA); Thermoplastic Copolyester Elastomers (TPE-C)
• 6) By Other Types: Thermoplastic Polyamide (TPA); Thermoplastic Styrenic Copolymer (TPE-A)
• Companies Mentioned: China Petroleum & Chemical Corporation; ExxonMobil Chemical Company; BASF SE; Asahi Kasei Corporation; Covestro AG; DuPont de Nemours Inc.; Arkema S.A.; Huntsman Corporation; Lubrizol Corporation; Evonik Industries AG; Avient Corporation; Teknor APEX Company; TSRC Corporation; HEXPOL TPE AB; RTP Company; KRAIBURG TPE; Americhem Inc.; Audia Elastomers; Star Thermoplastic Alloys & Rubbers Inc.; Advanced Elastomer Systems L.P.; Dynasol Elastomers LLC; TPE Solutions Inc.; Elastocon TPE Technologies Inc.; Kraton Polymers LLC; Yantai Wanhua Polyurethane Co. Ltd.; Nippon Polyurethane Industry Company Ltd.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
• Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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