Synthetic and Bio-based Thermoplastic elastomers (TPE) Market Trends 2016 to 2023, Future Growth & Industry Drivers

Global Market Insights has a new study based report titled Synthetic and Bio-based Thermoplastic elastomers (TPE) Market Size, Potential Industry Outlook Report, Regional Analysis (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Price Trends, Application Development, Competitive Landscape & Forecast, 2016 – 2023“.

Increase in lightweight plastics demand for automobile component manufacturing is likely to drive TPE market over the forecast period. Global automobile demand in 2015 was over 86 million units which are expected to grow at an estimated CAGR of 4% and reach above 100 million units by 2018.

Regulatory policies by environmental agencies to reduce carbon emissions and increase in vehicle fuel economy by reducing weight has pushed many automobile OEMS towards adopting plastics in place of metals & alloys for manufacturing components. Automobile weight reduction is witnessed as a priority in the industry as it lowers carbon emissions.

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Stringent environmental norms are backed by regulatory bodies in North America and Europe. According to sources, achieving vehicle weight reduction by 450 kg enables an average reduction in emission of CO2 by 40kg and also helps in increasing the fuel efficiency by around 10%.

Key TPE products include styrenic block copolymers (SBC), thermoplastic polyurethanes (TPU), thermoplastic vulcanizates (TPV), thermoplastic polyolefins (TPO) and copolyester elastomers. SBC was the largest consumed product and accounted for more than 45% of the total volume in 2014. Increasing application scope in paving & roofing is likely to drive SBC market demand.

1. Synthetic and Bio-based Thermoplastic elastomers (TPE) Market size & forecast by product & application
2. Growth drivers, pitfalls & industry challenges
3. Key Synthetic and Bio-based Thermoplastic elastomers (TPE) Market growth opportunities & emerging business
models
4. Competitive benchmarking with market share analysis and company profiles

In order to reduce dependency on depleting fossil fuel reserves, manufacturers are focusing to develop sustainable products. Innovations are taking place to develop new technologies based on bio-renewable sources.

Companies have focused on bio based thermoplastic elastomers market development, over the past few years under different brand names. Arkema’s Pebax Rnew is PEBA (polyether block amide) consisting of amino-11 segments derived from castor oil. Arkema bio TPE contains anywhere between 26% and 100% renewable content and are designed for applications such as automotive, shoes and electronics. Bio thermoplastic elastomers market price trend is going to be critical for industry penetration.

Source Report: https://www.gminsights.com/industry-analysis/synthetic-and-bio-based-thermoplastic-elastomers-tpe-market

The Synthetic and Bio-based Thermoplastic elastomers (TPE) Market Report Consists of,

  1. Methodology and Scope
  2. Executive Summary
  3. Synthetic and Bio-based Thermoplastic elastomers (TPE) Market Industry Insights

3.1 Industry segmentation

3.2. Industry size, forecast and growth expectations, 2016 – 2024

3.3. Industry ecosystem analysis

3.4. Raw material insights

3.5. Technology insights

3.6. Regulatory framework

3.7. Industry dynamics

3.8. Key growth opportunities

3.9. Porter’s analysis

3.10. Company market share, 2015

3.11. PESTEL analysis

3.14. Regional price trends

Synthetic and Bio-based Thermoplastic elastomers (TPE) Market Product Insights

Key TPE products include styrenic block copolymers (SBC), thermoplastic polyurethanes (TPU), thermoplastic vulcanizates (TPV), thermoplastic polyolefins (TPO) and copolyester elastomers. SBC was the largest consumed product and accounted for more than 45% of the total volume in 2014. Increasing application scope in paving & roofing is likely to drive SBC market demand.

Global thermoplastic elastomers market share is consolidated moderately and top four companies cater to more than 47% of the total demand. Major companies are shifting TPE production capacity to China, Brazil, India, Thailand, Malaysia and Vietnam owing to ease in raw material procurement and cheap labor cost along with supporting manufacturing policies.

Synthetic and Bio-based Thermoplastic elastomers (TPE) Market Application Insights

DuPont has made renewable Hytrel RS thermoplastic polyester elastomers and are derived from bio-based 1,3-propanediol using corn sugar as feedstock from its patented bacterial fermentation process. Hytrel RS thermoplastic polyester elastomers has 20-60% of renewable content and used for applications such as tubing boots, hoses, airbag doors and energy dampers.

Merquinsa has launched Pearlthane ECO TPUs derived drfom vegetable based polyols whereas GLS Thermoplastic Elastomers launched tow ranges of OneFlex Bio renewable TPE which incudes OneFlex Bio 5100 and OnFlex Bio 5300 in 2008. OneFlex 5100 cater to industrial applications and sport equipment components for cast wheels & ski bindings while OneFlex 5300 caters to applications such as interim trim, door & instrument panel skins, shoe soles, gear knobs and sport equipment grips.

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Synthetic and Bio-based Thermoplastic elastomers (TPE) Market Regional Insights

North America is likely to witness steady growth rates owing to structured regulatory norms pertaining to plastic consumption & disposal. Post recessing recovery of automobile & construction sector in the U.S. and Mexico is likely to drive regional growth.

Asia Pacific was the leading region and accounted for more than 40% of the total demand in 2014. Japan, China and India thermoplastic elastomers market dominated Asia Pacific and accounted for more than 85% of the total demand in 2015. Shift of footwear industries to Southeast Asian countries such as Vietnam coupled with growth of automotive & construction industry in India and China is likely to drive regional demand.

Competitor Profiles

Key companies include BASF, Bayer, China Petroleum & Chemical Corp and Evonik Industries. Other manufacturers include Dow Chemical, LyondellBasell, Huntsman, Lubrizol Corp, PolyOne Corp, LYC Chemical and LG Chemicals.

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