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World Thermoplastic Elastomers Market

  • November 2015
  • 380 pages
  • Freedonia
Report ID: 1609550

Summary

Table of Contents

Study coverage

This report presents historical demand data (2004, 2009 and 2014) plus forecasts (2019 and 2024) by market and product for 6 world regions and 16 major countries. The study also assesses market environment factors, examines industry structure, evaluates company market share and profiles 40 industry players worldwide.

World demand to rise 5.1% annually through 2019

Worldwide demand for thermoplastic elastomers (TPEs) is forecast to grow by 5.2 percent per year to 6.7 million metric tons in 2019. Advances will be driven by ongoing product innovation on the part of TPE manufacturers and compounders, allowing these materials to penetrate new applications. TPEs will continue to replace metals, thermoset rubbers, and other thermoplastics because they offer easier and faster processing as well as functionality in demanding environments. Additionally, TPE demand will benefit from the ongoing push to reduce motor vehicle weight, particularly as automotive fuel economy standards around the world become more stringent. Healthy growth will also be fueled by advances in emerging markets, which will benefit from increased adoption of TPEs over competing materials in applications such as adhesives and industrial components.

Asia/Pacific region to lead growth

The Asia/Pacific region will continue to be the largest market for TPEs through 2019, rising at an above average pace to account for over half of world demand. China, the world’s largest consumer of TPEs in volume terms, will continue to see more than seven percent annual growth in demand. Gains will also benefit from robust expansion in India and Southeast Asia, where manufacturing output is expected to rise strongly. TPE demand in North America and Western Europe will see modest slowing compared to the 2009-2014 period of economic recovery, although advances will remain solid. Other world regions will enjoy above-average gains in demand through 2019, particularly the Africa/ Mideast region, where current TPE consumption per capita is lowest.

SBCs to remain top segment; TPVs to grow the fastest

Styrenic block copolymers (SBCs) will remain the leading TPE product type through 2019. SBC demand will benefit from healthy growth in adhesives and consumer products, although the large and mature footwear market will limit advances. The fastest gains are expected for thermoplastic vulcanizates (TPVs), which are penetrating new applications in motor vehicle, consumer, and medical product markets. Smaller volume TPEs including copolyesters, fluoropolymers, and silicones are penetrating markets with strict regulatory and performance requirements. A resurgent motor vehicle industry will propel demand for thermoplastic polyolefins (TPOs), although advances will be restrained by maturity in applications such as automotive bumper fascia.

Industrial products to be fastest growing market

Motor vehicles account for the largest portion of the world TPE market. Advances will be bolstered by increased automotive production in emerging markets, and by growth in the amount of TPE used per vehicle in North America and Western Europe. Automotive markets will also benefit from such technological enhancements as overmolding TPE thin skins to thermoplastics in interior components. Industrial products will experience the fastest gains in demand, as rising manufacturing activity in emerging markets will incorporate TPEs to improve ergonomic and soft-touch features for industrial equipment. Healthy growth will be seen in other market categories such as packaging, wire and cable, and consumer products. For these applications, TPEs offer property balance and a perceived environmental benefit over PVC.

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