Thermoplastic Elastomers Market: Growth Forecast & Industry Share Report
Category: #business  By Rahul Sankrityayan  Date: 2020-01-16
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Thermoplastic Elastomers Market: Growth Forecast & Industry Share Report

Gaining massive momentum across various end-use domains, right from the construction sector to the automotive sector for its superior rubber like properties, the thermoplastic elastomers market has established a significant growth path in the recent years.

The thermoplastic elastomers are an integral part of the elastomers family. They are framed to support vivid advantages over the conventional thermoset elastomers. Apparently, these polymers offer high speed of processing and ease of operation making them an ideal pick for various industrial processes.

Industry analysts have claimed that the very first thermoplastic elastomers market were made available in 1959. Since then, the product has been a witness to plethora of transforming trends till this date which allows it to become one of the widely used polymers.

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In recent times, thermoplastic elastomers are being tailor-made to suffice the requirements across myriad end use industries such as the automotive, construction, and the electronics and electrical sectors.

Will the transforming automotive sector drive the large scale penetration of thermoplastic elastomers?

It is widely speculated that the expansive penetration of thermoplastics is a result of its acceptance and growth in a specific industry. The automotive industry, being one of the significant application sectors, sets the pace here.

Credible reports have stated that the over 40 per cent of the thermoplastic elastomers market consumed globally are apparently used in vehicle manufacturing itself. This provides a testament to the fact that the use of TPE in the automotive sector is only increasing every day.

With various types of TPEs available in the market, the polymer applications in the automotive industry are widespread. They are said to cover a vast segment from fabric coating to the sealing components and the bumpers. Moreover, Statista suggests that 9.6 per cent of the passenger vehicles in the North America region are made up of plastics.

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Introduction to carbon fiber usage across the automotive industry is propelling the growth of thermoplastic elastomers market size

The ever changing automotive industry has set the car makers to look out for better and advanced technologies which would enable them to provide the customers a seamless driving and riding experience. In awe of this, one such technology that is doing rounds across the industry is the carbon fiber.

The carbon fiber composites have been, since ages, replacing the metals in various industries which demand lightweight structure for improved fuel efficiency. As a matter of fact, this has prompted the technology to come forth to be used in future cars.

The fundamental advantage of lightweight framework in the automobiles is the gain in the fuel efficiency. The deployment of carbon fiber across the automobile reduces the vehicle weight up to 10 per cent whilst saving the fuel up to 6 to 8 per cent.

Looking at the positive growth trajectory of the carbon fiber usage across the sector, various automobile giants are leaving no stone unturned in deploying these in their vehicles. For instance, McLaren Racing Ltd.’s recently rolled out Elva has a carbon-fiber body and chassis which makes it one of the lightest cars till date.

High cost: a major setback in the growing product expansion

Pulled down by the flux in raw material prices, the thermoplastic elastomers would somehow lack the charm of being the number one choice for various SMEs.

Apart from this, the loss of its physical property when subjected to high temperature would somehow increase the growth prospects of the thermoplastic elastomers use in the near future.

Partial Chapter of the Table of Content:

Chapter 3    Thermoplastic Elastomers Industry Insights

3.1    Industry segmentation

3.2    Industry landscape, 2012-2023

3.3    Industry ecosystem analysis

3.3.1    Vendor matrix

3.3.2    Distribution channel analysis

3.3.2.1    Strategic Alliance

3.3.2.2    Wholesales/Distributors

3.4    Regulatory landscape

3.4.1    FDA

3.4.2    USP

3.4.3    NSF

3.4.4    Underwriters Laboratory (UL)

3.5    Technology landscape

3.6    Industry impact forces

3.6.1    Growth drivers

3.6.1.1    End-use industries growth in Asia Pacific

3.6.1.2    Alternative to thermosets

3.6.2    Industry pitfalls & challenges

3.6.2.1    Fluctuations in raw material prices

3.7    Growth potential analysis, 2015

3.7.1    Emerging business model

3.7.1.1    Joint Venture

3.7.1.2    Acquisitions

3.8    Porter’s analysis

3.9    Positive trend towards bio-based thermoplastic elastomers industry development

3.10    TPE company market share analysis, 2015

3.11    Strategy dashboard

3.12    PESTEL analysis

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Unending growth prospects and upcoming developments

Thermoplastic elastomers have seen unending transformative trends throughout these years. The polymers have efficiently been able to substitute the PVCs across the medical and automotive sectors. Across the automotive sector, the thermoplastic elastomers now hold an evident stance in manufacturing the skins and coated fabrics while in the medical sector, they are used to produce extractable, plasticizers, and others.

Additionally, the bio thermoplastic elastomers are likely to see the light of the future in the thermoplastic elastomers market realm.

Thermoplastic elastomers possess exceptional recyclability and thermal insulation properties which are required to formulate the manufacturing processes across various industries. Subjected to these characteristics, these products find high end applications across myriad sectors, which here was the automotive sector, providing an impetus to the worldwide thermoplastic elastomers industry size.

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About Author

Rahul Sankrityayan

Rahul Sankrityayan    

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Technology Magazine, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experie...

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