Page 30 - Plastics News March 2017

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Global thermoplastic elastomers market to surpass US$20 bln

Rapid industrialization, rising disposable income and growing environment consciousness will
drive the thermoplastic elastomers market growth.

he global thermoplastic elastomers market share is Stringent government regulations against carbon
Tmoderately consolidated, with the major industry emissions & greenhouse gases and PVC usage are other
participants including Kraton Polymers, Dow Chemicals, key encouraging factors.
LyondellBasell and BASF accounted for around 40% of the Thermoplastic elastomers being alternative to thermosets
overall demand in 2015, as per Global Market Insights Inc.
have substituted medical stoppers, lids and gaskets
The market is estimated to surpass US$20 bln by due to its high insulation and molding properties. High
2023. Superior elastomeric and thermoplastic properties adaptability to modification, recyclability and waste
for structural applications will drive the thermoplastic reduction are the notable features supporting electronics
elastomers market growth. Emergence as an alternative application scope.
for metal, rubber, glass or conventional engineered plastics Rapid industrialization, rising disposable income and
has enhanced the industry growth. Strong application scope growing environment consciousness will drive the
in medical and automotive thermoplastic elastomers
due to favorable regulatory market growth. APAC
compliance are stimulating thermoplastic elastomers
factors fueling product market revenue was
demand. Rising consumer over US$4 bln in 2015.
awareness associated with Regulatory support and
safety and protection in innovations in automotive
electrical, electronic and and medical applications
other applications will in the emerging economies
support the thermoplastic will drive the regional
elastomers market growth.
demand in coming years.
Styrenic block copolymer China thermoplastic
(SBC) was among the key contributors, and generated polyurethanes market size will surpass US$500 mln
over USD 6 billion revenue in 2015. Consumer goods, valuation with over 6% CAGR. Shifting automotive oEM’s
medical equipment and packaging were major preference for manufacturing bases in China and India
applications. Superior performance properties along with due to large raw material and skilled labor availability,
technological advancement in hydrogenated SBC are the has made the region more lucrative.
major driving factors.
North America thermoplastic elastomers market catered
TPV market will register growth above 5% up to 2023. High for over 25% of the global demand in 2015. EPA regulations
heat resistance properties coupled with growing demand to promote eco-friendly products coupled with rising
for sustainable products has enhanced TPV consumption. product uses in medical equipment, sports & leisure
TPU market size generated over US$1.5 bln in 2015. High
thermal insulation properties have influenced its uses in equipment, automotive and construction industry are
driving factors for the industry trends.
wires & cables and tires. Construction and automobile
industry expansion will enhance industry growth in this MEA, driven by UAE and Saudi Arabia will witness gains
segment. Rising demand for high fuel efficiency and over 4.5% up to 2023. Large crude oil reserves, growing
low weight cars are key automotive industry trends demand for electronic goods and increased household
encouraging thermoplastic elastomers market growth. spending are the factors to fuel the regional demand.

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