What is the global market size of Thermoplastic Elastomer Market?

Global Thermoplastic Elastomer Market size was valued at USD 22.37 billion in 2021 and is poised to grow from USD 24.26 billion in 2022 to USD 46 billion by 2030, growing at a CAGR of 8.32% in the forecast period (2023-2030).

Thermoplastic Elastomer Companies

Thermoplastic Elastomer Market Competitive Landscape

The players in the global thermoplastic elastomer market are investing in mergers & acquisitions. They are also collaborating with other companies to expand their consumer base. Investing in research and development activities are providing them with an edge over their competitors as they expand their product portfolio.

Thermoplastic Elastomer Market Top players company profiles

BASF SE
Kraton Corporation
DuPont de Nemours, Inc.
Dow Chemical Company
ExxonMobil Corporation
Arkema S.A.
LCY Chemical Corp.
Huntsman Corporation
Polyone Corporation
Dynasol Elastomers
Teknor Apex Company
Evonik Industries AG
Mitsubishi Chemical Corporation
Celanese Corporation
Lubrizol Corporation
Covestro AG
KURARAY CO., LTD.
Sinopec Corporation
Asahi Kasei Corporation
Kraton Polymers LLC

Thermoplastic Elastomer Market

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Thermoplastic Elastomer Market size was valued at USD 22.37 billion in 2019 and is poised to grow from USD 24.26 billion in 2023 to USD 46 billion by 2031, growing at a CAGR of 8.32% in the forecast period (2024-2031).

The players in the thermoplastic elastomer market are investing in mergers & acquisitions. They are also collaborating with other companies to expand their consumer base. Investing in research and development activities are providing them with an edge over their competitors as they expand their product portfolio. 'BASF SE', 'Kraton Corporation', 'DuPont de Nemours, Inc.', 'Dow Chemical Company', 'ExxonMobil Corporation', 'Arkema S.A.', 'LCY Chemical Corp.', 'Huntsman Corporation', 'Polyone Corporation', 'Dynasol Elastomers', 'Teknor Apex Company', 'Evonik Industries AG', 'Mitsubishi Chemical Corporation', 'Celanese Corporation', 'Lubrizol Corporation', 'Covestro AG', 'KURARAY CO., LTD.', 'Sinopec Corporation', 'Asahi Kasei Corporation', 'Kraton Polymers LLC'

The increasing adoption of thermoplastic elastomers by the end-user verticals such as the automotive, building and construction, electrical and electronics, household appliances, medical,adhesive, sealants and coatings, footwear, HVAC and others across the globe is estimated to carve a way for the growth of the market. Thermoplastic elastomers are used largely in the healthcare industry to create medical equipment, like catheters, medication delivery tubes, surgical tool grips, and various implants. Thermoplastic elastomers are more and more popular for a variety of reasons, including their superior performance qualities. This trend is likely to continue, as awareness of their benefits grows. This will benefit the market overall. Due to their eco-friendliness, cheap energy costs in production, and ease of molding, processing, and recycling, thermoplastic elastomers are becoming more popular, which will bolster the market growth. The growth in construction activities and infrastructure development will help increase the growth rate of the thermoplastic elastomers market.

TPE facilitates increased fuel efficiency in automotive applications by lowering car weight and density by substituting conventional components inside and around the vehicle. To reduce environmental and human health impacts from carbon emissions, various regulatory bodies have put in place stringent regulations.

North America dominated the market and accounted for a revenue share of over 35.0% in 2021. The North American region is one of the largest consumers of plastics owing to high demand in the automotive, electrical and electronics, packaging, and construction sectors.

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Thermoplastic Elastomer Market Size, Share, Growth Analysis, By product type(styrene block copolymers, thermoplastic polyolefin, thermoplastic olefins), By application(automotive, building and construction, electrical and electronics), By Region - Industry Forecast 2024-2031

Thermoplastic Elastomer Market Competitive Landscape

Thermoplastic Elastomer Market Report Snapshots

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Thermoplastic Elastomer Market Size, Share, Growth Analysis, By product type(styrene block copolymers, thermoplastic polyolefin, thermoplastic olefins), By application(automotive, building and construction, electrical and electronics), By Region - Industry Forecast 2024-2031

Thermoplastic Elastomer Market Competitive Landscape

Thermoplastic Elastomer Market Report Snapshots

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