- Styrenic Block Copolymer
- Thermoplastic Olefin
- Elastomeric Alloy
- Thermoplastic Polyurethane
- Thermoplastic Copolyester
- Thermoplastic Polyamide
Thermoplastic Elastomers Market size was valued at USD 22.4 billion in 2024 and is poised to reach USD 37.5 billion by 2030, and poised to grow at a 7.2% CAGR from 2024 to 2030. Thermoplastic elastomers are referred to as thermoplastic rubbers, they are the class of copolymers or a physical mix of polymers which consist of both thermoplastic and elastomers. It is widely used due to profitable properties such as heat stability, smoothness, wear resistance, and stretch resistance. The extensive utilization in automotive, building and construction, and footwear consequences a high demand for thermoplastic elastomers in the market which drives the market.
Biobased elastomers are developed from renewable resources such as fatty acids and vegetable oils and give equivalent properties as traditional elastomers which are mainly used for footwear, electronic goods, and sports equipment creating lucrative opportunities in the market. the production process of thermoplastic elastomers requires high temperatures and expert skilled professionals along with high investment which hinders the market growth. The automotive sector holds a major market sector to produce various parts such as body seals, exterior filler panels, wipers, automotive gaskets, door & and window handles, and other applications which accelerate the demand for thermoplastic elastomer in the market. By region, Asia Pacific held the major market share in 2022 and is expected to dominate the global Thermoplastic Elastomers (TPE) market in the forecasted years.
Thermoplastic Elastomers Market Key Developments:
- In November 2022, HEXPOL TPE Launched Medical Mass Balance Thermoplastic Elastomers. Mass balance allows for a gradual increase of the bio-circular share using existing infrastructure with the target to reduce the use of fossil resources step by step.
- In July 2022, Asahi Kasei Corporation launched Plastic North America and a new engineered resin series called Soform, as part of the thermylene family portfolio.
Thermoplastic Elastomers Market Summary
Study Period
2024-2030
Base Year
2023
CAGR
7.2%
Largest Market
North America
Fastest Growing Market
Asia Pacific
Thermoplastic Elastomers Market Dynamics
The increasing demand for various applications in healthcare to the automotive sector across the world is the major market driver in the Thermoplastic Elastomers (TPE) Market during the forecast period. Polystyrene held the largest market share in 2022 consequence of extensive demand in automobile parts production. In addition, thermoplastic elastomers gaining notable applications in construction for their thermal and acoustic insulation properties, surge in industrialization is anticipated for market growth. Hence, this will drive the global market growth at a significant rate.
North-America Got Significant Share
Thermoplastic Elastomers Market Regional Analysis
The Thermoplastic Elastomers (TPE) Market in North America to hold a significant revenue share in 2022, and, in the following years, it is predicted to increase rapidly. It is attributed to the increasing demand for automobile consumers and the growth in the construction industry has been leading manufacturers towards innovation. Moreover, the growth of the medical industry consequences enhances the market growth of thermoplastic elastomers in the region. Asia Pacific is holding the major market share in the global market and dominate the market in the upcoming years due to increasing demand od raw materials from various industries including construction, footwear, automobiles, and others. China, India, and Japan are emerging economic markets and are expected to improve consumer lifestyles creating lucrative demand for vehicle and luxury footwear also presence of global key players in the region is predicted to continue dominance in the forecast years.
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The thermoplastic elastomers market report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and key strategies.
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
- The report tracks recent innovations, key developments, and start-up details that are actively working in the market.
- The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario.
Thermoplastic Elastomers Market Segmentation
By Product Type
By Application
- Automotive & Transportation
- Building & Construction
- Footwear
- Electrical & Electronics
- Medical
- Others
By Geography
- North America
- Europe
- The Asia Pacific
- Latin America
- MEA
Frequently Asked Questions
The thermoplastic elastomers (tpe) market size was valued at USD 22.4 billion in 2023 and is poised to grow at a CAGR Of 7.2%
The leading players in the thermoplastic elastomers market are Advanced Elastomer Systems L.P., Arkema S.A., BASF SE, Bayer Material Science LLC, China Petroleum & Chemical Corporation, Dynasol Elastomers LLC, EMS Group, Evonik Industries, Huntsman Corporation, Kraton Polymers LLC, LG Chemicals, LCY Chemical Corporation, Lubrizol Corporation, LyondellBasell Industries, Nippon Polyurethane Industry Company Ltd., Avient Corporation, Teknor APEX Company, The Dow Chemical Company, TSRC Corporation, and Yantai Wanhua Polyurethane Co. Ltd.
Historic years considered for the market study are 2019 through 2023, 2023 is considered as the base year for market estimation and is forecasted from 2024 – 2030.
| 1.Executive Summary |
| 2.Global Thermoplastic Elastomers Market Introduction |
| 2.1.Global Thermoplastic Elastomers Market - Taxonomy |
| 2.2.Global Thermoplastic Elastomers Market - Definitions |
| 2.2.1.Product Type |
| 2.2.2.Application |
| 2.2.3.Region |
| 3.Global Thermoplastic Elastomers Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Thermoplastic Elastomers Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Thermoplastic Elastomers Market By Product Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Styrenic Block Copolymer |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Thermoplastic Olefin |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Elastomeric Alloy |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Thermoplastic Polyurethane |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.5. Thermoplastic Copolyester |
| 5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market Opportunity Analysis |
| 5.6. Thermoplastic Polyamide |
| 5.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.6.3. Market Opportunity Analysis |
| 6.Global Thermoplastic Elastomers Market By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Automotive & Transportation |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Building & Construction |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Footwear |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Electrical & Electronics |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Medical |
| 6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 6.6. Others |
| 6.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.6.3. Market Opportunity Analysis |
| 7.Global Thermoplastic Elastomers Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia Pacific (APAC) |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Middle East and Africa (MEA) |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Latin America |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 8.North America Thermoplastic Elastomers Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1.Styrenic Block Copolymer |
| 8.1.2.Thermoplastic Olefin |
| 8.1.3.Elastomeric Alloy |
| 8.1.4.Thermoplastic Polyurethane |
| 8.1.5.Thermoplastic Copolyester |
| 8.1.6.Thermoplastic Polyamide |
| 8.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.2.1.Automotive & Transportation |
| 8.2.2.Building & Construction |
| 8.2.3.Footwear |
| 8.2.4.Electrical & Electronics |
| 8.2.5.Medical |
| 8.2.6.Others |
| 8.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.3.1.United States of America (USA) |
| 8.3.2.Canada |
| 9.Europe Thermoplastic Elastomers Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Styrenic Block Copolymer |
| 9.1.2.Thermoplastic Olefin |
| 9.1.3.Elastomeric Alloy |
| 9.1.4.Thermoplastic Polyurethane |
| 9.1.5.Thermoplastic Copolyester |
| 9.1.6.Thermoplastic Polyamide |
| 9.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Automotive & Transportation |
| 9.2.2.Building & Construction |
| 9.2.3.Footwear |
| 9.2.4.Electrical & Electronics |
| 9.2.5.Medical |
| 9.2.6.Others |
| 9.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Germany |
| 9.3.2.France |
| 9.3.3.Italy |
| 9.3.4.United Kingdom (UK) |
| 9.3.5.Spain |
| 10.Asia Pacific (APAC) Thermoplastic Elastomers Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Styrenic Block Copolymer |
| 10.1.2.Thermoplastic Olefin |
| 10.1.3.Elastomeric Alloy |
| 10.1.4.Thermoplastic Polyurethane |
| 10.1.5.Thermoplastic Copolyester |
| 10.1.6.Thermoplastic Polyamide |
| 10.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Automotive & Transportation |
| 10.2.2.Building & Construction |
| 10.2.3.Footwear |
| 10.2.4.Electrical & Electronics |
| 10.2.5.Medical |
| 10.2.6.Others |
| 10.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.China |
| 10.3.2.India |
| 10.3.3.Australia and New Zealand (ANZ) |
| 10.3.4.Japan |
| 10.3.5.Rest of APAC |
| 11.Middle East and Africa (MEA) Thermoplastic Elastomers Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Styrenic Block Copolymer |
| 11.1.2.Thermoplastic Olefin |
| 11.1.3.Elastomeric Alloy |
| 11.1.4.Thermoplastic Polyurethane |
| 11.1.5.Thermoplastic Copolyester |
| 11.1.6.Thermoplastic Polyamide |
| 11.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Automotive & Transportation |
| 11.2.2.Building & Construction |
| 11.2.3.Footwear |
| 11.2.4.Electrical & Electronics |
| 11.2.5.Medical |
| 11.2.6.Others |
| 11.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.GCC Countries |
| 11.3.2.South Africa |
| 11.3.3.Rest of MEA |
| 12.Latin America Thermoplastic Elastomers Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Styrenic Block Copolymer |
| 12.1.2.Thermoplastic Olefin |
| 12.1.3.Elastomeric Alloy |
| 12.1.4.Thermoplastic Polyurethane |
| 12.1.5.Thermoplastic Copolyester |
| 12.1.6.Thermoplastic Polyamide |
| 12.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Automotive & Transportation |
| 12.2.2.Building & Construction |
| 12.2.3.Footwear |
| 12.2.4.Electrical & Electronics |
| 12.2.5.Medical |
| 12.2.6.Others |
| 12.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Brazil |
| 12.3.2.Mexico |
| 12.3.3.Rest of LA |
| 13. Competition Landscape |
| 13.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 13.2.1.Advanced Elastomer Systems L.P. |
| 13.2.2.Arkema S.A. |
| 13.2.3.BASF SE |
| 13.2.4.Bayer Material Science LLC |
| 13.2.5.China Petroleum & Chemical Corporation |
| 13.2.6.Dynasol Elastomers LLC |
| 13.2.7.EMS Group |
| 13.2.8.Evonik Industries |
| 13.2.9.Huntsman Corporation |
| 13.2.10.Kraton Polymers LLC |
| 13.2.11.LG Chemicals |
| 13.2.12.LCY Chemical Corporation |
| 13.2.13.Lubrizol Corporation |
| 13.2.14.LyondellBasell Industries |
| 13.2.15.Nippon Polyurethane Industry Company Ltd. |
| 13.2.16.Avient Corporation |
| 13.2.17.Teknor APEX Company |
| 13.2.18.The Dow Chemical Company |
| 13.2.19.TSRC Corporation |
| 13.2.20.Yantai Wanhua Polyurethane Co. Ltd. |
| 14. Research Methodology |
| 15. Appendix and Abbreviations |
- Advanced Elastomer Systems L.P.
- Arkema S.A.
- BASF SE
- Bayer Material Science LLC
- China Petroleum & Chemical Corporation
- Dynasol Elastomers LLC
- EMS Group
- Evonik Industries
- Huntsman Corporation
- Kraton Polymers LLC
- LG Chemicals
- LCY Chemical Corporation
- Lubrizol Corporation
- LyondellBasell Industries
- Nippon Polyurethane Industry Company Ltd.
- Avient Corporation
- Teknor APEX Company
- The Dow Chemical Company
- TSRC Corporation
- Yantai Wanhua Polyurethane Co. Ltd.