The global thermoplastic polyester elastomer (TPEE) market is
expected to reach USD 1.49 billion by 2025, according to a new report by Grand
View Research, Inc. Progress in plastics technologies & compounding or
processing capabilities are expected to complement industry growth over the
forecast period.
Thermoplastics polyester resins
combine excellent electrical, mechanical, and thermal properties with high
dimensional stability & chemical resistance among other advantageous
characteristics. Growing penetration of bio-based feedstock from renewable resources
such as biomass has had a significant impact on sustainable consumption
patterns in the market.
Significant growth in end-use
industries such as automotive, construction, industrial manufacturing,
electrical & electronics, consumer goods and others in emerging economies
is a major factor driving TPEE demand. The value chain consists of raw material
manufacturers producing ethylene, methacrylic acid and SBS rubber, which are
highly dependent upon crude oil supply and challenge suppliers.
Increasing R&D activities by
numerous companies involved in the production, distribution and recycling of
TPEE compounds are expected to drive investments in the market and boost
growth. New entrants are likely to be compelled to innovate in order to compete
with existing multinational companies and gain a foothold in the market.
Automotive emerged as the
dominant end-use market with over 42% of the volume share in 2016. TPEE
materials that foster higher performance of components such as airbag
accessories, lock assemblies, door handle seals, silencer gears and others are
anticipated to drive industry growth over the forecast period.
U.S. TPEE market revenue by
end-use, 2014 - 2025 (USD Million)
Browse full research report on
Thermoplastic Polyester Elastomer (TPEE)
Market
Further key findings from the
report suggest:
- The global thermoplastic
polyester elastomer market exceeded 230 kilo tons in 2016 and is expected
to grow at a CAGR of 4.9% from 2016 to 2025
- Increasing
consumer interest in miniaturized and ‘smart’ wearable electronics has
driven TPEE consumption in this segment. The electrical & electronics
end-use market is likely to account for about USD 290 million by 2025,
growing at CAGR of 6.2% from 2017 to 2025.
- Rising
expenditure on healthcare and medical facilities is another driving factor
with expanding geriatric population across developed economies and
numerous epidemic breakouts in recent years. The compound is widely used
in the production of medical devices, equipment and even surgical
instruments owing to its high safety features & sustainability.
- The U.S. is
anticipated to remain a major market in the industry on account of the
high levels of industrialization and concentrated large players present in
the country
- China is also
anticipated to remain a dominant player with increasing investments in the
region’s industries such as automotive, construction, medical and
electronics. Rising disposable income is also expected to play a key role
in developed TPEE production capabilities as consumers invest higher
levels in advanced goods.
- The industry
is fragmented in nature with large multinationals occupying dominant
position in the market such as DuPont, A. Schulman, BASF, Ashland,
Covestro, SABIC, Mitsubishi Chemicals and others. Smaller to medium sized
players occupy a relatively minor share with limited product portfolios
and presence.
About Grand View Research,
Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
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