Chemical Planet

High substitution rate of thermoplastic elastomers, such as TPU and TPO, as an alternative to ethylene propylene diene monomer (EPDM) in construction materials is expected to drive TPE demand over the forecast period. The Global Thermoplastic Elastomers (TPE) Market is expected to reach USD 19.76 billion by 2022, according to a new report by Grand View Research, Inc. Growing demand for lightweight, high performance materials from automotive industry in order to improve fuel efficiency by reducing overall weight of automobiles is expected to fuel TPE demand over the forecast period. Volatile prices of key raw material such as styrene, propylene and polyurethane are expected to remain a key challenge for market participants. SBC was the single largest product segment and accounted for 47.1% of total market volume in 2014. Increasing demand for SIS, particularly in China & India, in automotive applications is expected to drive the product segment growth over the next se

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