Market Size of Asia-Pacific Thermoplastic Elastomer (TPE) Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | > 6.50 % |
Market Concentration | High |
Major Players*Disclaimer: Major Players sorted in no particular order |
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APAC Thermoplastic Elastomers Market Analysis
The Asia-Pacific thermoplastic elastomer market is estimated to witness a healthy growth, at an estimated CAGR of over 6.5%, over the forecast period. The major factors driving the growth of the market studied are extensive demand from the automotive industry and growing application in the HVAC industry.
- Growing demand for bio-based thermoplastic elastomers are likely to create opportunities for the market in the coming years.
- Volatility in raw material prices are expected to hinder the market demand in the future.
- China is expected to dominate the market and is also likely to witness highest CAGR during the forecast period.
APAC Thermoplastic Elastomers Industry Segmentation
The Asia-Pacific thermoplastic elastomer market report includes:
Product Type | |
Styrenic Block Copolymer (TPE-S) | |
Thermoplastic Olefin (TPE-O) | |
Elastomeric Alloy (TPE-V or TPV) | |
Thermoplastic Polyurethane (TPU) | |
Thermoplastic Copolyester | |
Thermoplastic Polyamide |
Application | |
Automotive & Transportation | |
Building & Construction | |
Footwear | |
Electricals & Electronics | |
Medical | |
Household Appliances | |
HVAC | |
Adhesive, Sealant & Coating | |
Other Applications |
Geography | |
China | |
India | |
Japan | |
South Korea | |
Australia & New Zealand | |
Rest of Asia-Pacific |
Asia-Pacific Thermoplastic Elastomer (TPE) Market Size Summary
The Asia-Pacific thermoplastic elastomer market is poised for robust growth, driven primarily by the automotive and HVAC industries. The demand for thermoplastic elastomers (TPE) is increasing due to their high-performance characteristics, which are essential for automotive applications such as instrument panels, wheel covers, and seat components. TPEs offer advantages like durability, corrosion resistance, and design flexibility, making them a preferred choice over metals. This shift is further fueled by the automotive industry's need for lightweight materials to enhance fuel efficiency and reduce greenhouse gas emissions. The market is also witnessing a growing interest in bio-based TPEs, presenting new opportunities for expansion. However, fluctuations in raw material prices pose a potential challenge to market growth.
China is expected to lead the Asia-Pacific TPE market, benefiting from its strong manufacturing sector and burgeoning automotive industry. The country's focus on producing lightweight and fuel-efficient vehicles, alongside the rise of electric vehicles, is anticipated to drive TPE demand. Additionally, the electronics industry, with its increasing consumption of TPEs for products like smartphones and OLED TVs, is contributing to market growth. The construction sector's expansion, supported by government infrastructure investments, further bolsters the demand for TPEs. The market is characterized by consolidation, with major players such as DuPont, BASF SE, and Covestro AG playing significant roles in shaping its landscape.
Asia-Pacific Thermoplastic Elastomer (TPE) Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Extensive Demand from the Automotive Industry
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1.1.2 Growing Application in the HVAC Industry
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1.2 Restraints
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1.2.1 Volatility in Raw Material Prices
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1.2.2 Market Saturation in Applications
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1.3 Industry Value-Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Product Type
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2.1.1 Styrenic Block Copolymer (TPE-S)
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2.1.2 Thermoplastic Olefin (TPE-O)
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2.1.3 Elastomeric Alloy (TPE-V or TPV)
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2.1.4 Thermoplastic Polyurethane (TPU)
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2.1.5 Thermoplastic Copolyester
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2.1.6 Thermoplastic Polyamide
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2.2 Application
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2.2.1 Automotive & Transportation
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2.2.2 Building & Construction
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2.2.3 Footwear
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2.2.4 Electricals & Electronics
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2.2.5 Medical
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2.2.6 Household Appliances
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2.2.7 HVAC
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2.2.8 Adhesive, Sealant & Coating
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2.2.9 Other Applications
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2.3 Geography
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2.3.1 China
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2.3.2 India
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2.3.3 Japan
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2.3.4 South Korea
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2.3.5 Australia & New Zealand
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2.3.6 Rest of Asia-Pacific
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Asia-Pacific Thermoplastic Elastomer (TPE) Market Size FAQs
What is the current Asia-Pacific Thermoplastic Elastomer (TPE) Market size?
The Asia-Pacific Thermoplastic Elastomer (TPE) Market is projected to register a CAGR of greater than 6.5% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Thermoplastic Elastomer (TPE) Market?
DuPont, BASF SE, Covestro AG, LCY GROUP and KRATON CORPORATION are the major companies operating in the Asia-Pacific Thermoplastic Elastomer (TPE) Market.