SAN FRANCISCO , Oct. 6, 2022 /PRNewswire/ -- The global thermoplastic elastomer market size is expected to reach USD 40.06 billion by 2030, according to a new study by Grand View Research, Inc., expanding at a CAGR of 7.2% from 2022 to 2030. Superior properties of PCTFE and robust growth in end-use industries are some of the key factors that are presumed to drive the regional markets. R&D initiatives to develop superior robust products that have a wide application base across diverse industries offer ample opportunities for industry growth.

Key Industry Insights & Findings from the report:

Read 102-page full market research report, "Thermoplastic Elastomer Market Size, Share & Trends Analysis Report By Application (Automotive, Electrical & Electronics, Industrial, Medical, Consumer Goods), By Material, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Thermoplastic Elastomer Market Growth & Trends

Thermoplastic elastomers are unique, eco-friendly thermoplastics that are not only recyclable but can also be re-molded and re-shaped, thereby eliminating wastage quite extensively. These offer various other advantages in terms of physical attributes and characteristics such as resistance to chemicals, UV, oxidation, and providing soft-touch to materials. These properties are increasingly driving rubber and conventional plastic material replacement by TPEs in their respective applications. Several federal bodies such as the FDA and US Pharmacopeia regulate product applications in numerous end-use industries to ensure utmost consumer health and safety. These regulations affirm TPE utilization for commercial applications by providing guidelines for prudent product usage.

Major applications of thermoplastic elastomers include automotive, electrical and electronics, industrial, medical, consumer goods, and others. Automotive dominated the market in 2021 and will continue its lead over the coming years. Prominent thermoplastic elastomer materials include poly styrenes, poly olefins, poly ether imides, poly urethanes, poly esters, poly amides. Poly styrenes led the global market in 2021. Asia Pacific occupied the second-largest revenue share in 2021. Increasing awareness regarding consumer safety and protection in electronics and electrical industries is also expected to drive the global market throughout the forecast period, thereby driving the demand for thermoplastic elastomers in the region.

Grand View Research has segmented the global thermoplastic elastomer market on the basis of application, material, and region

TPE Application Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

TPE Material Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

TPE Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

List of Key Players of Thermoplastic Elastomer Market

Check out more related studies published by Grand View Research:

Browse through Grand View Research's Plastics, Polymers & Resins Industry Research Reports.

We have curated a list of micro markets to provide a holistic view of industry performance. We focus on critical applications and end-use to give all stakeholders a detailed perspective. The databooks are available in interactive dashboards and services start at US$ 500 per month.

Browse Micro-Markets & Industry Data Books from Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco , the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc

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