Thermoplastic Elastomers Market to Post 5.2% CAGR to 2022, States M&M in Its In-demand Report Published at MarketPublishers.com
13 Jul 2017 • by Natalie Aster
LONDON – The global market for thermoplastic elastomers (TPEs) is anticipated to post 5.2% CAGR to amount to USD 28.27 billion in 2022. The market is chiefly stimulated byan upsurge in the demand for TPEs from the APAC automotive sector.
Moreover, their eco-friendly nature, alongside advancements in the TPE processing industry will also likely boost the market growth in the offing. Unsteady raw material costs and technical issues pertaining to the development of economical and inexpensive TPE products are amid the factors set to inhibit the growth of the TPE sector to 2022.
In terms of types, thermoplastic vulcanizates (TPVs) are expected to see the highest CAGR in the years to come, owing to a hike in the demand for TPVs as a replacement for PVC in the healthcare domain. Based on end-user, the automotive industry is forecast to take a leadership position in the TPEs market in the offing.
The APAC is anticipated to observe the highest CAGR through to 2022. China is set to be the biggest market for TPEs in the region, whilst India is poised to witness the most rapid CAGR in the years to come. The surging demand for TPEs from various end-use sectors, like automotive, construction, and footwear is poised to drive the region’s market growth to 2022.
In-demand report “Thermoplastic Elastomers Market - Global Forecast to 2022” elaborated by MarketsandMarkets (M&M) gives in-depth, true insights into the market, categorising it based on type, end-use sector, and by region. It provides market size estimates and forecasts for the entire marketplace and each of its segments. The study sheds light on the drivers, limiters, challenges and opportunities impacting the market growth. The research also canvasses the competitive landscape, provides competitive benchmarking and competitive ranking of the prominent market participants. Furthermore, detailed profiles of the top companies are also presented in the research study.
More cutting-edge research reports by this publisher can be found in M&M online catalogue at MarketPublishers.com.