Global growth of thermoplastics elastomers to be boosted by developing automotive industry

19-Jun-15

Global thermoplastics elastomers market is expected to witness high growth on account of developing automotive industry over the forecast period, as per Grand View Research. Thermoplastics elastomers possess high flexibility feature and can be used in any complex structure. This property is expected to replace synthetic and natural rubber over the forecast period. Thermoplastics elastomers are environment friendly in nature and can be easily melted & reused without any harmful residue release. Synthetic and natural rubber releases heavy PVCs toxic residue into the atmosphere. Therefore, this is expected to further replace synthetic & natural rubber over the forecast period. Thermoplastics elastomers offer resistance towards oxidation, chemicals and give enhanced finishing to end use products. Growing demand for EPDM & EPR replacements in rubber industry is expected to drive global thermoplastics elastomers market over the forecast period. Surging demand from end use industries for cosmetic cases, cable jacketing, switch contact points, rubber seals, headphones cables and rubber gaskets is expected to positively impact global thermoplastic elastomers demand over the forecast period. Bio based thermoplastics elastomers are expected to establish as upcoming market opportunity in the global market. Fluctuating raw material price is expected to hinder global thermoplastics elastomers market growth over the forecast period. Global thermoplastics elastomers market is segmented on the basis of product and application. Product segment is categorized as thermoplastic polyurethane, polyether block amide elastomers, styrenic block copolymers, thermoplastic polyolefins, copolyester ether elastomers and thermoplastic vulcanizates. Application segment includes medical, engineering, building & construction, wires & cables, plastics, personal care, automotive and footwear. North America and Europe were the biggest thermoplastic elastomers market followed by Asia Pacific. Asia Pacific is expected to be the fastest and largest growing thermoplastics elastomers market over the forecast period owing to industrial development along with its chemical industry expansion. Emerging countries such as Japan, China, Indonesia, Malaysia, Vietnam and India are further expected to boost regional l thermoplastics elastomers market owing to rapid growth in end use industries including automotive, rubber and petrochemicals.