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Asia Pacific Thermoplastic Elastomers (TPE) Market Outlook and Global Foresight to 2022

Regulatory initiatives limiting carbon emission and increasing focus on enhancing fuel efficiency in vehicles are expected to have a positive impact on growth. Numerous automotive OEMs have been replacing metal and alloys with plastics from manufacturing of vehicle components to make vehicles light weight, thus propelling demand for TPE.

Asia Pacific Thermoplastic Elastomers Market is estimated to reach over USD 7.82 billion owing to growing consumption from automotive part production.

Plastic innovation in the automotive industry is a major driving factor owing to growing consumer preference towards light weight vehicles and high performance. This has resulted in increasing TPE consumption and requirement for manufacturing innovative and fuel efficient vehicles.

The product requires low fabrication costs, shorter processing time and design flexibility as compared to thermosets, thereby achieving widespread recognition. Rising consumption in consumer goods, electrical & electronics, construction and the automotive industry is expected to develop new opportunities for the market over the forecast period.

Styrenic block copolymers (SBC) dominated the market and accounted for 53.2% of overall volume in 2014. SBC is used in the production of advanced material, sealants, adhesives, and footwear applications. Growing construction expenses in India, Indonesia, Thailand and China is anticipated to drive growth over the next seven years.

To Know More About Asia Pacific Thermoplastic Elastomers Market Please Visit Us @ https://www.grandviewresearch.com/industry-analysis/asia-pacific-thermoplastic-elastomers-tpe-market 

Top Players of Asia Pacific Thermoplastic Elastomers (TPE) Market:

DuPont,
Huntsman Corporation,
BASF,
Dow Chemical,
Arkema

Market Segmentation of Asia Pacific Thermoplastic Elastomers (TPE) Market:

Asia Pacific Thermoplastic Elastomers (TPE) Market segmented on the basis of Product and Region.

By Product:

Styrenic block copolymers (SBC)
Thermoplastic polyurethane (TPU)
Thermoplastic polyolefins (TPO)
Thermoplastic vulcanizates (TPV)
Copolyester elastomers (COPE)

By Region:

China
India
Japan
Rest of Asia Pacific (RoAPAC)

Inquire about Asia Pacific Thermoplastic Elastomers Market with Our Experts @ https://www.grandviewresearch.com/inquiry/2668/ibb 
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