Market Overview:
The global synthetic thermoplastic elastomers market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for synthetic thermoplastic elastomers from various end-use industries, such as automotive, customer goods, medical and others. In terms of type, SBC is expected to lead the global synthetic thermoplastic elastomers market during the forecast period owing to its properties such as high thermal stability and resistance against chemicals. In terms of application, automotive is expected to be the largest segment in terms of volume during the forecast period due to increase in demand for lightweight vehicles across regions.
Product Definition:
Thermoplastic elastomers (TPEs) are a type of synthetic polymer that combines the properties of plastic and rubber. TPEs are often used in products where both flexibility and durability are required, such as automotive parts, medical devices, and toys.
SBC:
Synthetic Biodegradable Copolymers (SBC) are a group of synthetic polymers derived from renewable sources such as vegetable oil and natural monomers. SBC is a unique class of material that combines the properties of both thermoplastic elastomers (TPE) and biopolymers. The most important property exhibited by SBC is its ability to degrade in the environment upon hydrolysis, i.e.
TPU:
Thermoplastic polyurethane (TPU) is a polymer, which is manufactured by the reaction of polyols and dicarboxylic acids. TPU has high demand in various application industries including automotive, consumer goods, construction & building and footwear. The growing construction industry coupled with increasing automobile sales in emerging countries such as China, India and Brazil are expected to drive the global market over the forecast period.
Application Insights:
Automotive was the largest application segment in 2017 and is expected to continue its dominance over the forecast period. The global market for automotive applications is estimated to reach USD 2,835.0 million by 2030 owing to increasing sales of passenger cars and light commercial vehicles coupled with a growing preference for SAE-approved products in automobiles.
Medical application segment accounted for 7% share of the overall revenue in 2017 due to rising product usage in medical devices such as catheters, surgical drapes, diagnostic equipment, protective clothing and footwear among others. Growing R&D initiatives by major players such as Eastman Chemical Company toward developing new applications are expected to drive demand over the forecast period.
Regional Analysis:
Asia Pacific was the dominant regional segment occupying over 54.0% of the total market volume in 2017. The region is projected to continue its dominance over the forecast period, with China being a major contributor to regional growth. Increasing automotive production and sales in India, Indonesia, Malaysia and Vietnam are expected to have a positive impact on industry trends across APAC during the forecast period.
Europe accounted for 24% of global revenue share in 2017 owing to high demand from several key industries including automotive, consumer goods.
Growth Factors:
- Increasing demand for STEs in automotive industry: The global automotive market is expected to grow at a CAGR of 4.5% during the forecast period, owing to the increasing demand for lightweight vehicles and electric vehicles. This is expected to drive the growth of the synthetic thermoplastic elastomers market as well, as STEs are used in various applications such as hoses, gaskets, seals and belts in automobiles.
- Rising demand from medical sector: The medical sector is growing at a rapid pace due to rising awareness about health and hygiene among people across the globe. This is driving the demand for STEs from medical devices manufacturers as they offer superior properties such as biocompatibility, elasticity and durability compared to traditional materials used in medical devices manufacturing such as rubber and silicone rubber.
- Growing popularity of eco-friendly products: There has been a growing trend among consumers towards using eco-friendly products over conventional products made from petrochemicals derivatives. This has led many companies to shift their focus towards developing sustainable alternatives made from plant-based materials which can be recycled or composted after use unlike petrochemical based plastics that take centuries to decompose naturally .STEs fit perfectly into this trend owing its environmental friendly nature with negligible carbon footprint during production when compared with other plastics derived from fossil fuels .This is likely to boost the growth of STE market in coming years .
- . Technological advancements: Continuous technological advancements
Scope Of The Report
Report Attributes
Report Details
Report Title
Synthetic Thermoplastic Elastomers Market Research Report
By Type
SBC, TPU, TPV, TPVC, Others
By Application
Automotive, Customer Goods, Medical, Others
By Companies
BASF, Bayer, China Petroleum & Chemical Corp, Evonik Industries, Dow Chemical, LyondellBasell, Huntsman, Lubrizol Corp, PolyOne Corp, LCY Chemical, LG Chemicals
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
248
Number of Tables & Figures
174
Customization Available
Yes, the report can be customized as per your need.
Global Synthetic Thermoplastic Elastomers Market Report Segments:
The global Synthetic Thermoplastic Elastomers market is segmented on the basis of:
Types
SBC, TPU, TPV, TPVC, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Automotive, Customer Goods, Medical, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- BASF
- Bayer
- China Petroleum & Chemical Corp
- Evonik Industries
- Dow Chemical
- LyondellBasell
- Huntsman
- Lubrizol Corp
- PolyOne Corp
- LCY Chemical
- LG Chemicals
Highlights of The Synthetic Thermoplastic Elastomers Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- SBC
- TPU
- TPV
- TPVC
- Others
- By Application:
- Automotive
- Customer Goods
- Medical
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Synthetic Thermoplastic Elastomers Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Synthetic thermoplastic elastomers are a type of polymer that is made from molecules that are not found in nature. They can be made to have a variety of properties, including flexibility, strength, and resilience.
Some of the key players operating in the synthetic thermoplastic elastomers market are BASF, Bayer, China Petroleum & Chemical Corp, Evonik Industries, Dow Chemical, LyondellBasell, Huntsman, Lubrizol Corp, PolyOne Corp, LCY Chemical, LG Chemicals.
The synthetic thermoplastic elastomers market is expected to grow at a compound annual growth rate of 6.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Synthetic Thermoplastic Elastomers Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Synthetic Thermoplastic Elastomers Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Synthetic Thermoplastic Elastomers Market - Supply Chain
4.5. Global Synthetic Thermoplastic Elastomers Market Forecast
4.5.1. Synthetic Thermoplastic Elastomers Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Synthetic Thermoplastic Elastomers Market Size (000 Units) and Y-o-Y Growth
4.5.3. Synthetic Thermoplastic Elastomers Market Absolute $ Opportunity
5. Global Synthetic Thermoplastic Elastomers Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Synthetic Thermoplastic Elastomers Market Size and Volume Forecast by Type
5.3.1. SBC
5.3.2. TPU
5.3.3. TPV
5.3.4. TPVC
5.3.5. Others
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Synthetic Thermoplastic Elastomers Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Synthetic Thermoplastic Elastomers Market Size and Volume Forecast by Application
6.3.1. Automotive
6.3.2. Customer Goods
6.3.3. Medical
6.3.4. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Synthetic Thermoplastic Elastomers Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Synthetic Thermoplastic Elastomers Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Synthetic Thermoplastic Elastomers Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Synthetic Thermoplastic Elastomers Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Synthetic Thermoplastic Elastomers Demand Share Forecast, 2019-2026
9. North America Synthetic Thermoplastic Elastomers Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Synthetic Thermoplastic Elastomers Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Synthetic Thermoplastic Elastomers Market Size and Volume Forecast by Application
9.4.1. Automotive
9.4.2. Customer Goods
9.4.3. Medical
9.4.4. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Synthetic Thermoplastic Elastomers Market Size and Volume Forecast by Type
9.7.1. SBC
9.7.2. TPU
9.7.3. TPV
9.7.4. TPVC
9.7.5. Others
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Synthetic Thermoplastic Elastomers Demand Share Forecast, 2019-2026
10. Latin America Synthetic Thermoplastic Elastomers Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Synthetic Thermoplastic Elastomers Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Synthetic Thermoplastic Elastomers Market Size and Volume Forecast by Application
10.4.1. Automotive
10.4.2. Customer Goods
10.4.3. Medical
10.4.4. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Synthetic Thermoplastic Elastomers Market Size and Volume Forecast by Type
10.7.1. SBC
10.7.2. TPU
10.7.3. TPV
10.7.4. TPVC
10.7.5. Others
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Synthetic Thermoplastic Elastomers Demand Share Forecast, 2019-2026
11. Europe Synthetic Thermoplastic Elastomers Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Synthetic Thermoplastic Elastomers Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Synthetic Thermoplastic Elastomers Market Size and Volume Forecast by Application
11.4.1. Automotive
11.4.2. Customer Goods
11.4.3. Medical
11.4.4. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Synthetic Thermoplastic Elastomers Market Size and Volume Forecast by Type
11.7.1. SBC
11.7.2. TPU
11.7.3. TPV
11.7.4. TPVC
11.7.5. Others
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Synthetic Thermoplastic Elastomers Demand Share, 2019-2026
12. Asia Pacific Synthetic Thermoplastic Elastomers Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Synthetic Thermoplastic Elastomers Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Synthetic Thermoplastic Elastomers Market Size and Volume Forecast by Application
12.4.1. Automotive
12.4.2. Customer Goods
12.4.3. Medical
12.4.4. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Synthetic Thermoplastic Elastomers Market Size and Volume Forecast by Type
12.7.1. SBC
12.7.2. TPU
12.7.3. TPV
12.7.4. TPVC
12.7.5. Others
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Synthetic Thermoplastic Elastomers Demand Share, 2019-2026
13. Middle East & Africa Synthetic Thermoplastic Elastomers Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Synthetic Thermoplastic Elastomers Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Synthetic Thermoplastic Elastomers Market Size and Volume Forecast by Application
13.4.1. Automotive
13.4.2. Customer Goods
13.4.3. Medical
13.4.4. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Synthetic Thermoplastic Elastomers Market Size and Volume Forecast by Type
13.7.1. SBC
13.7.2. TPU
13.7.3. TPV
13.7.4. TPVC
13.7.5. Others
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Synthetic Thermoplastic Elastomers Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Synthetic Thermoplastic Elastomers Market: Market Share Analysis
14.2. Synthetic Thermoplastic Elastomers Distributors and Customers
14.3. Synthetic Thermoplastic Elastomers Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. BASF
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Bayer
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. China Petroleum & Chemical Corp
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Evonik Industries
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Dow Chemical
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. LyondellBasell
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Huntsman
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Lubrizol Corp
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. PolyOne Corp
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. LCY Chemical
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. LG Chemicals
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
