"The Report Global
Thermoplastic Elastomers Market 2017-2021 provides information on
pricing, market analysis, shares, forecast, and company profiles for
key industry participants. - MarketResearchReports.biz"
The new report added to
MarketResearchReports.biz evaluates the present scenario and growth
prospects of the global
thermoplastic elastomers market.
The report provides an outline of the market landscape and key
vendors and discusses the chief drivers and restraints in the market.
The report, titled ‘Global Thermoplastic Elastomers Market
2017-2021’, predicts the market to grow at a CAGR of 7.78% during
the forecast period.
Thermoplastic elastomers (TPEs)
hold both elastomeric and thermoplastic characteristics. TPE can be
reshaped, remolded, and recycled. Therefore, they are extensively
used to replace conventional materials, such as natural rubber,
nitrile rubber (NBR), polyvinylchloride (PVC), and ethylene propylene
diene monomer (EPDM) in major industries.
Several manufacturers demand
for thermoplastic elastomers (TPE) due to their increased design
flexibility, reduced cost, and enhanced long-term weather-resistance
advantages in comparison with natural rubber and EPDM. Moreover, TPEs
are eco-friendly and unique thermoplastics that are not only
recyclable but can also be reshaped and remolded, thereby
considerably reducing wastage. Renowned federal bodies, such as US
Pharmacopeia and the FDA, regulate product applications in numerous
end-use industries to ensure maximum consumer health and safety, thus
positively impacting the market. On the other hand, volatile prices
of raw material is a major factor limiting the growth of the global
thermoplastic elastomers market.
The global thermoplastic
elastomers market is segmented on the basis of applications into
automotive, footwear, engineering, building and construction, wires
and cables, medical, and others. In terms of value and volume, the
automotive segment held a significant share in the market. The growth
of the segment can be attributed to various environmental agencies
that are rigorously working towards the reduction of carbon emission
through an increase in fuel efficiency. Major automotive
manufacturing giants are hence using plastics as a substitute to
metals and alloys in automotive components. Also, growing consumer
preference for high performance and lightweight passenger cars has
been driving plastics innovation in automotive manufacturing.
Based on geography, the global
market for thermoplastic elastomers is categorized into Europe, Asia
Pacific, North America, and Rest of the World. Among the mentioned
regions, Asia Pacific contributed majorly to the market. It is
expected to score a high CAGR during the forecast period due to
rising demand for tire and other rubber products from end-use
industries such as automotive and building and construction. In
addition, this region will be a preferred market for thermoplastic
elastomers owing to increased investments from manufacturers. North
America is said to be another lucrative market for thermoplastic
elastomers as it is anticipated to get support from growing tire
sales with the recovering automotive industry.
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http://www.marketresearchreports.biz/pressrelease/3730
The prominent companies
functioning in the global thermoplastic elastomers market include
Dynasol, LyondellBasell Industries, Covestro, LCY Chemical, PolyOne,
DuPont, Arkema, BASF, Huntsman, Evonik, and TSRC.
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