Thermoplastic Elastomers (TPE) Market 2022 - by Business Insight, Size, Share, Key Players, Research, Capacity, Production and Forecast
Industry Insights In 2014, the global thermoplastic elastomers (TPE) market was estimated at 3.82 million tons. The rising replacement of ethylene propylene diene monomer (EPDM) by TPE in construction equipment is likely to fuel the product market. The superior chemical and physical properties of the product as opposed to thermoset plastics are expected to widen the application scope, thereby aiding market demand. The growing application of TPE in electronics, consumer goods, construction, and footwear is expected to have a positive impact on the product demand. The rising demand for TPE in the automotive industry owing to the changes in consumer preferences regarding lightweight and high performance passenger cars has been instrumental in driving the market growth. The characteristics of the product to be recycled, re-shaped, and re-molded result in minimizing the product wastage, resulting in high application scope. The product acts as substitutes for conventional plastic and ru...