2014-02-20 08:53:01 - Thermoplastic Elastomers Market: Trends & Forecasts to 2018 - a new market research report on companiesandmarkets.com
The global thermoplastic elastomers market is suggested to have reached a value of around $15.1 billion by the end of 2012, and is forecast to grow to a total of $23.9 billion by 2018. This suggests a CAGR growth rate of 8.1% between 2012 and 2018. The APAC region dominated the global thermoplastic elastomer market, accounting for 42.4% of the global thermoplastic elastomer revenue in 2012.The APAC is expected to have the highest market revenue in 2018, followed by the North American market. ROW, a collection of individual country markets, is expected to be the fastest growing market in the future, growing at a CAGR of 10.1% from 2013 to 2018, owing to rising consumption in this region where the
end-user markets of TPE are growing steadily. The European market is expected to grow at a rate of 6.7%, in revenue terms and 5.1% in consumption terms from 2013 to 2018.Thermoplastic Elastomers (TPEs) replaced natural and synthetic rubber due to its ability to form in various shapes adhering to many conventional and innovative processability techniques, hence resulting in shapes of complex designs. TPEs replace PVCs due to the hazardous chemical residue left by PVC. TPEs are environment friendly as they can be melted and reshaped, thereby leaving very less wastage. TPEs have many advantages over the materials it is replacing such as resistance towards weather, chemicals, oxidation and delivering soft touch materials. Demand for soft touch applications adds to the growth of TPEs.Evolving Bio based TPEs, environmental regulation in sectors such as food, packaging and medical can create future market spaces for TPEs.Thermoplastic elastomers market is segmented by major types such as SBC, TPO, TPV, TPU, COPE and PEBA. These individual thermoplastic elastomers have application specific demands differentiated by cost and efficiency. TPEs are useful in applications such as automotiveparts, paving & roofing, consumer & personal hygiene products, medical clothing, medical equipment, aircraft coating, rail track, sports & leisure equipment, various types of footwear, baby care, electronic appliances, baby-diapers, industrial & mining related cables, oil & gas pipelines and several others. These materials result in minimizing energy consumption and increase in efficiency of the applications.Market players are concentrating on expanding their geographical reach for success. Other development strategies which market players are engaged in are agreements & collaborations, mergers & acquisitions and new products launch & development.TPE industry is contemplating high research activities to create new blends and processing methodologies to minimize cost and increase versatility of the TPE product types. One of the major problems is the wide price range that makes material choosing very difficult and application hard to derive optimal cost effectiveness.
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