North America Thermoplastic Elastomers Market is expected to reach 1,661.58 tons by 2024 from 1,213.80 tons in 2016, at a CAGR of 4.2% in the forecast period 2017 to 2024, as per databridgemarketresearch.com. The major factors driving the growth of this market are thermoplastic elastomers substituting thermosets, increasing application from the HVAC/automotive industry and growth in end-use industries are furthermore boosting the growth of the global thermoplastic elastomers market. On the other hand, unstable raw material prices may hinder the growth of the market. Some of the major factors driving the market for thermoplastic elastomers market are thermoplastic elastomers substituting thermosets, increasing application from the HVAC/automotive industry and growth in end-use industries. These factors increase the demand for North America thermoplastic elastomers. Unstable raw material prices are the factor which may hinder the growth of this market. Increasing applications in the medical industry and growing demand for bio-based thermoplastic elastomers will drive the market in future.
The Thermoplastic elastomers market is dominated by styrenic block copolymer with 45.1% market share in 2016, growing at the highest CAGR of 3.5% in the forecast period. Styrenic block copolymer (SBC) is sub segmented into styrene-butadiene-styrene (SBS), styrene-isoprene-styrene (SIS) and hydrogenated styrene block copolymers (HSBC). Thermoplastic polyurethane (TPU) is sub segmented into polyester, polyether and polycaprolactone. Thermoplastic polyolefins (TPO) is sub segmented into polyethylene and polypropylene. Thermoplastic polyolefins (TPO), thermoplastic vulcanizates (TPV) is sub segmented into polypropylene, butyl/ halobutyl, polyacrylate. Polyether block amide elastomers (PEBA) is sub segmented into polyamide 11 elastomer and polyamide 12 elastomer. Medical market is growing with the highest CAGR. Styrenic block copolymer are driving the market with highest market share. Automotive market is dominating the thermoplastic elastomers market
BASF SE is going to dominate the thermoplastic elastomers market following with The Dow Chemical Company and LyondellBasell Industries along with others such as Arkema Sa, Evonik Industries AG, Covestro AG, China Petrochemical Corporation, Huntsman International Llc., Tosoh Corporation, Kraton Corporation, Exxon Mobil Corporation, TSRC, Polyone, LCY Group, Celanese Corporation, LG Chem, Asahi Kasei Corporation, Teknor Apex and The Lubrizol Corporation among others.