Thermoplastic Copolyester Elastomers Market: Global Size, Share, Trends, Growth and Forecast, 2022-2032
Thermoplastic Copolyester Elastomers Market: Overview and Definition
Thermoplastic copolyester elastomers (TPEEs) are a type of polymer material that combines the properties of thermoplastics and elastomers. TPEEs are designed to be lightweight, flexible, and durable, and they have a wide range of applications in various industries, including automotive, medical, consumer goods, and packaging.
TPEEs are made by combining polyester resins with elastomeric softeners, such as polyether or polyamide. The resulting material is a thermoplastic elastomer that can be molded and shaped using traditional thermoplastic processing techniques, such as injection molding and extrusion.
The global TPEE market is driven by the increasing demand for lightweight, durable, and flexible materials in various industries. TPEEs are commonly used in automotive applications, such as seals, gaskets, and airbag covers, as well as in consumer goods, such as footwear, sporting equipment, and electronics.
TPEEs are also used in medical applications, such as catheters and surgical instruments, due to their biocompatibility and resistance to chemicals and sterilization methods.
The growing demand for sustainable and eco-friendly materials is also driving the growth of the TPEE market, as these materials are recyclable and can be produced using renewable resources.
Thermoplastic copolyester elastomers are basically a class of thermoplastic elastomers that have combined properties of both thermoplastics and rubbers and are generally low module flexible materials that can be stretched repeatedly to at least twice their original length at room temperature with an ability to return to their approximate original length creating a longer life and better physical range than other materials. Thermoplastic copolyester elastomers are high-performance engineering materials with thermoplastic behavior and structural strength. They exhibit excellent elasticity and resistance to impact and flex fatigue.
The trend towards replacing metals, rubbers and polymers which are hazardous to the environment has been acting as one of the primary factors for the emergence and the increasing demand for thermoplastic elastomers in the recent past, which will also continue in the future.
These have various advantages over conventional elastomers such as low toxicity & cost of processing, high durability, and chemical resistance. They can replace metals and general rubbers as they have better fatigue bearing characteristics and can tolerate larger deflections than others without deforming. They are also expected to replace composites of rubber with metal, glass, and fabrics without reinforcement. As a result, these materials find huge application in the automotive sector and in household appliances sector.
Along with the automotive industry, thermoplastic copolyester elastomers are also predominantly used in industries such as engineering, medicals, wires & cables, hose and tubing, building and construction, footwear among others.
As such, global TCE market is expected to grow at a significant CAGR over the next few years.
The growth of this market is attributed towards major relying factors including the rising environmental and health concerns, increasing research and development on copolyester elastomers for medical applications, increased urbanization, favorable government policies and norms on export & import trade regulations, advancement in the thermoplastic elastomer processing industry, replacement of the thermoset rubber and the growing demand from the automotive industry.
Moreover, copolyester elastomers have undoubtedly emerged as one of the fastest growing categories of the thermoplastic elastomer family. Growing demand for high-performance, low-weight material which can also provide flexibility at a lower temperature in the automotive industry has been driving the demand for TCEs in the past, and this trend is expected to continue in the future. Copolyester elastomers outweigh other members of thermoplastic elastomer family in terms of its chemical and physical properties. Fuel efficient automobiles have emerged as the latest strategy of automobile manufacturers to attain sustainability. One way to increase the fuel efficiency of automobiles is to reduce the overall weight of automobiles.
Furthermore, thermoplastic elastomers are proven to be more sustainable alternatives to thermoset rubbers owing to their recyclability and cost-efficiency. They are rapidly replacing rubber and PVC in medical devices as they are non-allergenic. Due to this, the adoption of thermoplastic elastomers in dental, surgical, and medical applications are increasing substantially.
Additionally, these elastomers have excellent tensile strength, abrasion resistance and electrical properties. In addition, they have resistance to chemicals and oil. This also increases their utility in various industries.
Though, price volatility, technical limitations, variation in the exchange rate of key producers and political instability are a few factors among others that restrain and hinder the market from growing, the manufacturers are trying to combat these drawbacks by developing new manufacturing techniques by using different chemical compositions to make products viable to high stress applications and economic volatility. One such example is the emergence of bio-based thermoplastic elastomers.
THERMOPLASTIC COPOLYESTER ELASTOMERS MARKET SEGMENTATION:
- Industrial Grade
- Pharmaceutical Grade
- Food Grade
- Consumer Goods
- North America
- Asia Pacific
- Latin America
- Middle East &Africa
The market in Asia Pacific is expected to expand considerably and is projected to grow at the highest CAGR in the near future, to be followed by Europe owing to factors such as adoption of rapid technological advancement, increasing demand for thermoplastic elastomers from various end-use industries, such as automotive, building & construction, footwear etc, rising demand for fuel efficient and light weight automobiles in emerging economies such as China and India. Also, China is estimated to be the largest market for thermoplastic elastomers in the Asia-Pacific region.
North America has been dominating the copolyester elastomer market in terms of demand. Growing automotive applications has been one of the major factors driving the demand for copolyester elastomer. The U.S. and Canada are the major contributors in this region.
Germany and the UK in the European region are the leading countries in the copolyester elastomer market owing to the huge demand from the automotive industry.
The ROW market is likely to exhibit healthy growth over the next few years. Increasing disposable income in the Middle East and North Africa is likely to offer potential growth for this market.
FEW KEY PLAYERS IN THERMOPLASTIC COPOLYESTER ELASTOMERS MARKET:
- DuPont de Nemours, Inc.
- Eastman Chemical Company
- Dow Chemicals
- Kraton Polymers LLC
- Polyone Corporation
- DSM Engineering Plastics
- Teijin Industries
- DIC Corporation
- Tosoh Corporation
- Mitsubishi Chemicals
- Other Players
- DuPont de Nemours, Inc. increased the production capacity at its Shenzhen site and its specialty products division invested nearly US$ 42 Mn to install three new production lines at the aforementioned site in China.
- LG Chem is reportedly planning to build a new facility for electric vehicle battery in Nanjing in China by 2020. The company is also planning to invest around 2 trillion South Korean won on second car battery plant in China.
- Kidman Resources have been reportedly said to have signed an agreement with LG Chem Ltd. to supply lithium hydroxide. Kidman will supply 12,000 tons of lithium hydroxide a year to various chemicals companies for 10 years.
Timeline Considered for Analysis:
- 2019: Base Year
- 2020: Estimated Year
- 2020 to 2025: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyses the global thermoplastic copolyester elastomers market by the following segments:
Customization: We also offer customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Thermoplastic Copolyester Elastomers Industry Report
- What is the overall market size in 2019? What will be the market growth during the forecast period i.e. 2020-2025?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?