It shows that TPE manufacturers are constantly developing innovative thermoplastic elastomer products, which will result in traditional elastomers and thermoplastic plastics
being taken place by the new products in different industries. Besides, demands of automobile light weight developing will promote TPE market to develop constantly, especially the higher global fuel economy standards establishing.
According to the research, recovery and improvement of economy in North America and Western Europe will also accelerate development of TPE market. Thermoplastic styrene block copolymer (SBC) will still be the priority on TPE market. However, Anna Andrews, an analyst pointed out, “For the whole market, the demands for SBC is restricted by high market saturation in application and the growth rate will still be lower than the developing average level on market.
The report shows that TPV products (thermoplastic vulcanizates) will have the highest growth rate in the future, widely applied in automobile and medical products.
Strong expanding trends are shown in India and Southeast Asia, which will also promote global TPE to develop, while TPE in Japan will show slow growth rate.
Moreover, Asia Pacific region will be the largest market for thermoplastic elastomer. The demands for TPE in the region will grow at a speed higher than average level. It is estimated that the demands in the region will account for 50% of global demands by 2019. Among that, China will be the largest TPE consumer around the world. The growth rate in China will be close to 8% every year.