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.
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.
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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Contact: Sherry James Corporate Sales Specialist, USA Grand View Research, Inc Phone: +1-415-349-0058 Toll Free: 1-888-202-9519 Email: [email protected]