To Meet Rising Demand For Thermoplastic Elastomers, Players In The Global Thermoplastic Elastomers Market Are Implementing Various Growth Strategies

 

Thermoplastic elastomers are versatile materials that can be stretched without permanently changing the shape. Thermoplastic elastomers are a physical blend of polymers that are typically plastic and elastic, and they are produced through injection, moulding, and extrusion. It is used in a variety of automobile applications, including airbags, anti-slip mats, window trims, cowl panels, spoilers, and seals and air duct components. Rising demand for automobiles and automotive parts, as well as rising consumer expenditure on automobiles, are projected to propel the thermoplastic elastomers market forward. The glass transition temperature and remar

Thermoplastic elastomers

kable material durability when subjected to a wide range of temperatures and non-polar materials are among the superior features of thermoplastic elastomers. Furthermore, TPEs require less energy to manufacture and can be dyed with common dyes.

 

Asia pacific dominated the Thermoplastic Elastomers Market in 2017 with a 47.1 percent market share, owing to rising demand from industries such as automotive, packaging, medical, and others, with china, india, and japan accounting for the majority of revenue in the asia pacific thermoplastic elastomer market. Furthermore, many key companies are focusing on expanding thermoplastic elastomer production, which is a key driver driving the thermoplastic elastomers market's growth. For example, DuPont stated in November 2018 that it will invest more than $80 million in the construction of a new manufacturing plant in Zhangjiagang, Jiangsu Province in East China. This new factory will manufacture compounded high-end technical plastics and adhesives for customers in the transportation, electronics, industrial, and consumer products industries.

 

DowDuPont Inc., Arkema Group, Asahi Kasei Corporation, PolyOne Corporation, Elastron Kimya SA, Kraton Corporation, Evonik Industries, and Covestro AG are among the major players in the global thermoplastic elastomers market. To meet rising demand for thermoplastic elastomers, players in the global thermoplastic elastomers market are implementing various growth strategies such as plant capacity expansion. For example, in June 2018, Arkema Group announced plans to launch a new project by mid-2020 to increase 'Polyamide 12' production capacity in China by 25%. Elastron Kimya SA also announced plans to open a TPE manufacturing plant in Gainesville, Florida, in May 2018. The cost of building this plant would be around $10 million.

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