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Global Thermoplastic Elastomers Industry

Global Thermoplastic Elastomers Industry

  • May 2021
  • 495 pages
  • ID: 5817628
  • Format: PDF
  • Global Industry Analysts


Table of Contents


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We launched an impact survey to update this project with timely insights during 2020. Update frequency will depend upon evolving market conditions and executive opinions. Our participants are executives driving strategy, marketing, sales and product management at competitive companies worldwide. All updates during the rest of the year are complimentary to clients!


Global Thermoplastic Elastomers Market to Reach $24.2 Billion by 2026

Thermoplastic elastomers (TPEs) represent a class of advanced copolymers or physical blend of specific polymers that contain materials featuring both elastomeric and thermoplastic properties. Also known as thermoplastic rubbers, TPEs combine intrinsic advantages of plastic and rubbery materials. In contrast to most elastomers that are thermosets, thermoplastics can be easily used in manufacturing. TPEs differ from thermoset elastomers on the basis of type of the cross-linking bond in structure. Cross-linking is an important structural aspect that allows TPEs to exhibit superior elastic properties. Amid the COVID-19 crisis, the global market for Thermoplastic Elastomers estimated at US$18.9 Billion in the year 2020, is projected to reach a revised size of US$24.2 Billion by 2026, growing at a CAGR of 5.2% over the analysis period. Block Copolymers, one of the segments analyzed in the report, is projected to grow at a 5.6% CAGR to reach US$12.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Blends segment is readjusted to a revised 4.7% CAGR for the next 7-year period. This segment currently accounts for a 34.6% share of the global Thermoplastic Elastomers market.

The U.S. Market is Estimated at $5.1 Billion in 2021, While China is Forecast to Reach $4.9 Billion by 2026

The Thermoplastic Elastomers market in the U.S. is estimated at US$5.1 Billion in the year 2021. The country currently accounts for a 27.09% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$4.9 Billion in the year 2026 trailing a CAGR of 7.9% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 4.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.2% CAGR while Rest of European market (as defined in the study) will reach US$5.6 Billion by the end of the analysis period.

Growing demand for lightweight and high performance passenger cars, and increasing use of TPU (Thermoplastic Polyurethane) and TPO (Thermoplastic Olefins) as substitutes for EPDM (ethylene propylene diene monomer) in construction materials are fueling demand for TPEs. The extruded, recyclable, colored, molded and eco-friendly attributes of TPEs make them safe for use in applications such as food packaging and medical sector. Rising demand for bio-based TPEs and the growing use of TPEs in medical industry is also poised to favor market growth. Focus on new product development and innovation continues to fuel market growth, as companies continue to focus on addressing the rising demand for high performance and low cost materials from various industries. The shift from PVC to thermoplastic elastomers is in particular expected to boost market growth.

Blends Segment to Reach $8.1 Billion by 2026

Global market for Blends segment is estimated at US$6.1 Billion in 2020, and is projected to reach US$8.1 Billion by 2026 reflecting a compounded annual growth rate of 4.7% over the analysis period. United States constitutes the largest regional market for Blends segment, accounting for 28.9% of the global sales in 2020. China is poised to register the fastest compounded annual growth rate of 7.3% over the analysis period, to reach US$1.5 Billion by the close of the analysis period.

Select Competitors (Total 64 Featured)
  • Arkema Group
  • Asahi Kasei Advance Corporation
  • Celanese Corporation
  • China Petroleum & Chemical Corporation (SINOPEC)
  • Covestro AG
  • E. I. du Pont De Nemours and Company
  • Exxon Mobil Corporation
  • Huntsman Corporation
  • Kolon Plastic, Inc.
  • Kraton Corporation
  • Kuraray America, Inc.
  • LCY Chemical Corporation (LCY Group)
  • LG Chem
  • Mitsubishi Chemical Corporation
  • PolyOne Corporation
  • Royal DSM NV
  • RTP Company
  • SABIC (Saudi Basic Industries Corporation)
  • Sibur Holding PJSC
  • TARO PLAST S.p.a.
  • Teknor Apex Company
  • The Lubrizol Corporation
  • Zylog Plastalloys Pvt. Ltd.

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