What is Global Thermoplastic Elastomers (TPE) Compounds Market?
The Global Thermoplastic Elastomers (TPE) Compounds Market is a vast and dynamic sector that encompasses a wide range of materials with unique properties and applications. These materials, known as thermoplastic elastomers, are a type of polymer that combine the beneficial characteristics of rubber with the processing advantages of plastic. The global market for these compounds is extensive, catering to various industries and applications worldwide. In 2023, the market value stood at a significant US$ 15490 million, demonstrating the high demand and widespread use of these materials. The market is projected to grow further, reaching an estimated value of US$ 22540 million by 2030. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 5.2% during the forecast period from 2024 to 2030.
Styrenic Block Copolymers (TPS or TPE-S), Thermoplastic Vulcanizates (TPV), Others in the Global Thermoplastic Elastomers (TPE) Compounds Market:
The Global Thermoplastic Elastomers (TPE) Compounds Market is segmented into various types, including Styrenic Block Copolymers (TPS or TPE-S), Thermoplastic Vulcanizates (TPV), and others. Each of these types has unique properties that make them suitable for specific applications. Styrenic Block Copolymers, for instance, are known for their high elasticity and strength, making them ideal for use in applications that require durability and flexibility. Thermoplastic Vulcanizates, on the other hand, are valued for their excellent resistance to heat, chemicals, and weathering, making them suitable for use in harsh environments. Other types of TPE compounds also exist, each with their unique properties and applications.
Footwear, Automobile, Building & Construction, Others in the Global Thermoplastic Elastomers (TPE) Compounds Market:
The Global Thermoplastic Elastomers (TPE) Compounds Market finds its application in various sectors, including footwear, automobile, building & construction, among others. In the footwear industry, TPE compounds are used to manufacture soles, insoles, and other components due to their excellent flexibility, durability, and comfort. In the automobile industry, these compounds are used in the production of various parts such as seals, gaskets, and hoses due to their excellent resistance to heat and chemicals. In the building and construction industry, TPE compounds are used in the production of seals, gaskets, and roofing materials due to their excellent weather resistance and durability. Other applications of TPE compounds include consumer goods, medical devices, and electrical and electronic equipment.
Global Thermoplastic Elastomers (TPE) Compounds Market Outlook:
The future outlook for the Global Thermoplastic Elastomers (TPE) Compounds Market is promising. In 2023, the market was valued at US$ 15490 million and is projected to reach US$ 22540 million by 2030, growing at a CAGR of 5.2% during the forecast period from 2024 to 2030. The top four manufacturers globally hold a share of about 23%, indicating a competitive market landscape. Geographically, Asia-Pacific dominates the market with a share of about 47%, followed by Europe and North America with shares of 25% and 21% respectively. This distribution reflects the industrial development and economic growth in these regions.
| Report Metric | Details |
| Report Name | Thermoplastic Elastomers (TPE) Compounds Market |
| Accounted market size in 2023 | US$ 15490 million |
| Forecasted market size in 2030 | US$ 22540 million |
| CAGR | 5.2% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Kraton Polymers, Dynasol, LG Chem, INEOS Styrolution, Avient Corporation, Asahi Chemical, Versalis, Mitsubishi Chemical, Sibur, Kumho Petrochemical, Celanese (ExxonMobil), Eneos (JSR), Kuraray, DuPont, HEXPOL, Sinopec, LCY Technology Corp, Taiwan Synthetic Rubber Corp, CNPC, CHIMEI, Ningbo Changhong Polymer Scientific & Technical Inc. |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
