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Thermoplastic elastomers market projected to reach $28.27 billion by 2022
Editor:Lisa Tan  Post Time:2017-08-05  Click:

Thermoplastic elastomers market

Hunan Yixiang Technology has a history of more than 20 years, and we are specialized in producing organic peroxides, such as BIPB(Cas NO.:25155-25-3), DHBP(Cas NO.:78-63-7), TMCH(Cas NO.:6731-36-8), co-crosslinking agent TAIC(Cas NO.:1025-15-6) and flame retardent TBC(Cas NO.:52434-90-9).We have fully finished REACH registration for BIPB and TAIC and maderegistration for TBC.

The thermoplastic elastomers market is projected to reach $28.27 billion by 2022, at a CAGR of 5.2 percent from 2017 to 2022, according to Research and Markets' latest report. Thermoplastic elastomers are used in several end-use industries, such as automotive, building and construction, footwear, engineering, medical, wires and cables, and others. The increasing usage of thermoplastic elastomers in these end-use industries is expected to drive the growth of the thermoplastic elastomers market during the forecast period. On the basis of the type, the thermoplastic elastomers market has been segmented into styrenic block copolymers (SBC), thermoplastic polyurethanes (TPU), thermoplastic vulcanizates (TPV), thermoplastic polyolefins (TPO), copolyester ether elastomers (COPE) and polyether block amide elastomers (PEBA). In terms of volume, the styrenic block copolymers (SBC) type segment led the thermoplastic elastomers market in 2016. The styrenic block copolymers (SBC) are also called third-generation synthetic rubbers. They are mostly used in the form of a mixture with other polymers, oils and fillers. They can be processed repeatedly and molded easily. Styrenic block copolymers (SBC) are the most inexpensive type of thermoplastic elastomers available in the market. Among different types of thermoplastic elastomers, copolyester ether elastomers (COPE) show the highest resistance to deformation. They are used as secondary containment liners for underground storage tanks in the building and construction industry. Their high resistance to oils and chemicals and high-temperature stability make them highly suitable for applications in the automotive and medical industries. The copolyester ether elastomers (COPE) segment of the Asia-Pacific thermoplastic elastomers market is estimated to grow at a significant rate during the forecast period, owing to the restrictions on the use of polyvinyl chloride (PVC) materials in the medical sector and the growing demand for copolyester ether elastomers (COPE) from the automotive industry. Rising demand for thermoplastic elastomers from the automotive, building and construction, footwear and medical industries has led to increasing demand for thermoplastic elastomers globally. The Asia-Pacific region is projected to be the largest market for thermoplastic elastomers during the forecast period, followed by the North American region. The India thermoplastic elastomers market is projected to grow at the highest CAGR during the forecast period. The growth of the Asia-Pacific thermoplastic elastomers market can also be attributed to the presence of the top manufacturers of thermoplastic elastomers, such as Asahi Kasei Corporation (China), Sinopec Group (China) and Tosoh Corporation (Japan) in the region.

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