Key Drivers: Asia-Pacific Thermoplastic Elastomers Market
Some of the major factors driving the market for thermoplastic elastomers market are thermoplastic elastomers substituting thermosets, increasing application from the HVAC/automotive industry and growth in end-use industries. These factors increase the demand for North America thermoplastic elastomers.
- Unstable raw material prices are the factor which may hinder the growth of this market.
- Increasing applications in the medical industry and growing demand for bio-based thermoplastic elastomers will drive the market in future.
On the other hand, unstable raw material prices may hinder the growth of the market.
Asia-Pacific Thermoplastic Elastomers Market is expected to reach 3,798.71 tonnes by 2024 from 2,376.60 tonnes in 2016, at a CAGR of 6.2% in the forecast period 2017 to 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Key Points: Asia-Pacific Thermoplastic Elastomers Market
China Petrochemical Corporation is going to dominate the thermoplastic elastomers market following with Asahi Kasei Corporation and BASF SE along with others such as Arkema Sa, LyondellBasell Industries, Evonik Industries AG, Covestro AG, Huntsman International Llc., Tosoh Corporation, Kraton Corporation, Exxon Mobil Corporation, TSRC, Polyone, LCY Group, Celanese Corporation, LG Chem, Teknor Apex and The Lubrizol Corporation among others.
- Medical market is growing with the highest CAGR
- Styrenic block copolymer are driving the market with highest market share
- Automotive market is dominating the thermoplastic elastomers market
Market Segmentation: Asia-Pacific Thermoplastic Elastomers Market
- The Asia-Pacific thermoplastic elastomers market is segmented on the basis of product type, application and geography. The Asia-Pacific thermoplastic elastomers market is segmented based on product type into eight notable segments; styrenic block copolymer (SBC), thermoplastic polyurethane (TPU), thermoplastic polyolefins (TPO), thermoplastic vulcanizates (TPV), copolyester ether elastomers (COPE), polyether block amide elastomers (PEBA), polyether-ester elastomer (TPEE) and others. The Thermoplastic elastomers market is dominated by Styrenic block copolymer with 43.7% market share in 2016, growing at the highest CAGR of 5.5% in the forecast period.
- Styrenic block copolymer (SBC) is sub segmented into styrene-butadiene-styrene (SBS), styrene-isoprene-styrene (SIS) and hydrogenated styrene block copolymers (HSBC). Thermoplastic polyurethane (TPU) is sub segmented into polyester, polyether and polycaprolactone. Thermoplastic polyolefins (TPO) is sub segmented into polyethylene and polypropylene. Thermoplastic polyolefins (TPO), thermoplastic vulcanizates (TPV) is sub segmented into polypropylene, butyl/ halobutyl, polyacrylate. Polyether block amide elastomers (PEBA) is sub segmented into polyamide 11 elastomer and polyamide 12 elastomer.
- Based on application, the Asia-Pacific thermoplastic elastomers market is segmented into automotive building & construction, footwear, adhesives, sealants & coatings, wires & cables, medical, advanced materials and others.
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