Asia-Pacific Thermoplastic Elastomer (TPE) Market Report 2030

Name: Asia-Pacific Thermoplastic Elastomer (TPE) Market Report 2030
Creator: Mordor Intelligence
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Asia-Pacific Thermoplastic Elastomer (TPE) Market Analysis by Mordor Intelligence

The Asia-Pacific Thermoplastic Elastomer Market is expected to register a CAGR of greater than 6.5% during the forecast period.

Growing demand for bio-based thermoplastic elastomers are likely to create opportunities for the market in the coming years.
Volatility in raw material prices are expected to hinder the market demand in the future.
China is expected to dominate the market and is also likely to witness highest CAGR during the forecast period.

Asia-Pacific Thermoplastic Elastomer (TPE) Market Trends and Insights

Increasing Usage in the Automotive and Transportation Applications

Thermoplastic elastomers (TPE) are high-performance materials, whose application in the automotive industry is rapidly increasing. TPE serve the automotive industry in a myriad of applications, some of which include the manufacturing of high-quality automotive instrument panels, wheel covers, dashboard components, pillar trims, door liners and handles, seat backs, and seat belt components, among others.
The automotive industry places particularly high requirements on the materials used. Under extreme stresses, the materials must be dimensionally stable and must not warp, even when faced with great temperature variations.
TPEs are special types of plastic, which are not only cheaper than metals but also help to make automobiles more energy-efficient by reducing the weight, in addition to providing durability, corrosion resistance, toughness, design flexibility, resiliency, and high performance at low cost. The light weight of TPE enables more fuel-efficient vehicles. Every 10% reduction in vehicle weight is estimated to result in a 5-7% reduction in fuel usage.
Growing demand for lightweight and high-performance plastics in the automotive industry, to provide increased efficiency and design flexibility, is primarily responsible for the growth of the TPE market. High-performance thermoplastic elastomers offer manufacturers advantages of design and the comparable strength of steel, which help in reducing the weight and controlling greenhouse gas emissions.
All the aforementioned factors, in turn, are expected to drive the demand for thermoplastic elastomer during the forecast period.

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China to Dominate the Market

China is one of the fastest emerging economies and has become one of the biggest production houses in the world, today. The country's manufacturing sector is one of the major contributors to the country's economy.
The Chinese automotive industry caters to the demand for vehicles, in both domestic and foreign markets. During the forecast period, the automotive production in the country is expected to be driven by the rising demand for SUVs, and lightweight and fuel-efficient vehicles, along with the increasing popularity of electric vehicles across the world.
The electronics industry is one of the largest consumers of thermoplastic elastomers. Electronic products such as smartphones, OLED TVs, tablets and so on, have the highest growth in the market in the consumer electronics segment. With the increase in the disposable income of middle-class population, the demand for electronic products is projected to grow in the near future, thereby driving the thermoplastic elastomers market.
Despite the volatile growth in real estate sector, the significant development of rail and road infrastructure by the Chinese government to withstand the growing industrial and service sectors, has resulted in a significant growth of the Chinese construction industry in the recent years. As the construction industry is dominated by state-owned enterprises, the increased government spending is boosting the industry in the country.
Owing to the aforementioned factors, the market for thermoplastic elastomer in the country is expected to witness huge demand in the coming years.

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Competitive Landscape

The Asia-Pacific thermoplastic elastomer market is consolidated in nature. The key players in the market include DuPont, BASF SE, Covestro AG, LCY GROUP, and KRATON CORPORATION, among others.

Asia-Pacific Thermoplastic Elastomer (TPE) Industry Leaders

DuPont
BASF SE
Covestro AG
LCY GROUP
KRATON CORPORATION
*Disclaimer: Major Players sorted in no particular order

DuPont, BASF SE, Covestro AG, LCY GROUP, KRATON CORPORATION — Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0.

Table of Contents for Asia-Pacific Thermoplastic Elastomer (TPE) Industry Report

1. INTRODUCTION

1.1 Study Assumptions
1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

4.1 Drivers
- 4.1.1 Extensive Demand from the Automotive Industry
- 4.1.2 Growing Application in the HVAC Industry
4.2 Restraints
- 4.2.1 Volatility in Raw Material Prices
- 4.2.2 Market Saturation in Applications
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition

5. MARKET SEGMENTATION

5.1 Product Type
- 5.1.1 Styrenic Block Copolymer (TPE-S)
- 5.1.2 Thermoplastic Olefin (TPE-O)
- 5.1.3 Elastomeric Alloy (TPE-V or TPV)
- 5.1.4 Thermoplastic Polyurethane (TPU)
- 5.1.5 Thermoplastic Copolyester
- 5.1.6 Thermoplastic Polyamide
5.2 Application
- 5.2.1 Automotive & Transportation
- 5.2.2 Building & Construction
- 5.2.3 Footwear
- 5.2.4 Electricals & Electronics
- 5.2.5 Medical
- 5.2.6 Household Appliances
- 5.2.7 HVAC
- 5.2.8 Adhesive, Sealant & Coating
- 5.2.9 Other Applications
5.3 Geography
- 5.3.1 China
- 5.3.2 India
- 5.3.3 Japan
- 5.3.4 South Korea
- 5.3.5 Australia & New Zealand
- 5.3.6 Rest of Asia-Pacific

6. COMPETITIVE LANDSCAPE

6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
- 6.4.1 A. Schulman, Inc.
- 6.4.2 Apar Industries Ltd
- 6.4.3 Arkema Group
- 6.4.4 Asahi Kasei Corporation
- 6.4.5 BASF SE
- 6.4.6 Covestro AG
- 6.4.7 DSM
- 6.4.8 DuPont
- 6.4.9 Evonik Industries AG
- 6.4.10 Exxon Mobil Corporation
- 6.4.11 Grupo Dynasol
- 6.4.12 HEXPOL AB
- 6.4.13 Huntsman International LLC
- 6.4.14 KRATON CORPORATION
- 6.4.15 KURARAY CO., LTD.
- 6.4.16 LANXESS
- 6.4.17 LCY GROUP
- 6.4.18 LG Chem
- 6.4.19 LyondellBasell Industries Holdings B.V.
- 6.4.20 Mitsubishi Chemical Corporation
- 6.4.21 Mitsui Chemicals, Inc.
- 6.4.22 SABIC
- 6.4.23 Sumitomo Chemicals Co. Ltd
- 6.4.24 The Lubrizol Corporation
*List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

7.1 Growing Demand for Bio-based Thermoplastic Elastomers
7.2 Increasing Applications in the Medical Industry

**Subject to Availability

Asia-Pacific Thermoplastic Elastomer (TPE) Market Report Scope

The Asia-Pacific thermoplastic elastomer market report includes:

Product Type

Styrenic Block Copolymer (TPE-S)

Thermoplastic Olefin (TPE-O)

Elastomeric Alloy (TPE-V or TPV)

Thermoplastic Polyurethane (TPU)

Thermoplastic Copolyester

Thermoplastic Polyamide

Application

Automotive & Transportation

Building & Construction

Footwear

Electricals & Electronics

Medical

Household Appliances

HVAC

Adhesive, Sealant & Coating

Other Applications

Geography

China

India

Japan

South Korea

Australia & New Zealand

Rest of Asia-Pacific

Product Type	Styrenic Block Copolymer (TPE-S)
	Thermoplastic Olefin (TPE-O)
	Elastomeric Alloy (TPE-V or TPV)
	Thermoplastic Polyurethane (TPU)
	Thermoplastic Copolyester
	Thermoplastic Polyamide
Application	Automotive & Transportation
	Building & Construction
	Footwear
	Electricals & Electronics
	Medical
	Household Appliances
	HVAC
	Adhesive, Sealant & Coating
	Other Applications
Geography	China
	India
	Japan
	South Korea
	Australia & New Zealand
	Rest of Asia-Pacific

Key Questions Answered in the Report

What is the current Asia-Pacific Thermoplastic Elastomer (TPE) Market size?

The Asia-Pacific Thermoplastic Elastomer (TPE) Market is projected to register a CAGR of greater than 6.5% during the forecast period (2025-2030)

Who are the key players in Asia-Pacific Thermoplastic Elastomer (TPE) Market?

DuPont, BASF SE, Covestro AG, LCY GROUP and KRATON CORPORATION are the major companies operating in the Asia-Pacific Thermoplastic Elastomer (TPE) Market.

What years does this Asia-Pacific Thermoplastic Elastomer (TPE) Market cover?

The report covers the Asia-Pacific Thermoplastic Elastomer (TPE) Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Asia-Pacific Thermoplastic Elastomer (TPE) Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Page last updated on: January 10, 2025