H1 2023: In the first half of 2023, Thermoplastic Elastomer (TPE) prices experienced fluctuations in the Asia Pacific region. Initially, there was an upward trajectory in TPE prices during the H1 2023 This was driven by a stock-up of TPE in the Chinese market in January, resulting from reduced consumption in downstream sectors. February witnessed a price surge in China due to increased orders from the Chinese market, prompting retailers to replenish their inventories. Although there was a slight increase in TPE prices in the Asian market in April 2023, the situation remained optimistic initially but stabilized by the end of June 2023. Despite the region's sluggish economic growth, the resurgence in demand from Southeast Asia's downstream automotive sector played a pivotal role in the upward movement of thermoplastic elastomer (TPE) pricing. The production remained moderate due to lower feedstock styrene prices, but the supply was constrained as fewer production units operated during the Labor Day holidays. Despite the initial increase in demand from the automotive industry, it eventually receded towards the conclusion of the second quarter of 2023.
The Asia Pacific Thermoplastic Elastomer (TPE) market has reached around 1970 thousand tonnes in 2022 and is expected to grow at a CAGR of 5.75% during the forecast period until 2032.
Thermoplastic Elastomers (TPE) represent a unique type of synthetic rubber that combines the advantages of plastic production and recyclability with rubber-like properties. TPEs can be stretched to at least twice their original length at room temperature and typically exhibit a low modulus. Unlike thermoset rubbers, TPEs undergo only physical cross-linking, which is reversible with heat, making them a reusable option. TPEs are processable without the constant need for stabilizers or reinforcing agents during manufacturing. Similar to plastics, thermoplastic elastomers are primarily fabricated through melting processes, the extent of which is determined by the material's flow at elevated temperatures. TPEs find applications across various industries, including automotive, construction, electronics, and more. In the automotive sector, TPEs are utilized for weather seals, shock dust boots, bumpers, interior and exterior components, trims, air ducts, pipe grommets, glass encapsulation, drive belts, high- and low-pressure pipes, motor scooter mats, and O-rings. Based on type, TPU market is divided into Styrenic Block Copolymers (Inc. SBS, SIS, SEBS, SEPS, etc), Thermoplastic Polyolefin Elastomers (POEs TPV TPEs), Others [Copolyester Thermoplastic Elastomers (COPEs) & Polyether-Block-Amide (PEBA), Thermoplastic Urethanes (TPUs)]
Within the construction industry, TPEs are employed to manufacture pipe seals, glazing seals, hydraulic seals (simple or co-moulded), and extruded seals for doors and windows. In consumer products, TPEs find use in refrigerator magnetic seals, power tool handles, smartphone covers, push-button panels, remote control covers, and shock-absorbing guards for vacuum cleaners. In the medical sector, TPE applications encompass breathing tubes, ventilation masks, bags, valves, syringe seals, tips, and catheters. In electronics, TPEs are used for technology condenser sheaths, plugs, loose sockets, specialist cables, and mobile phone components. Thermoplastic Elastomer (TPE) consumption is expected to reach around 3350 thousand tonnes by 2032.
In the Asia Pacific region, the Thermoplastic Elastomer (TPE) market is divided into China, Japan, Singapore, South Korea, Taiwan, Rest of APAC. Anticipated key growth markets in Asia Pacific include China, India, and Southeast Asia, where the widespread application of versatile thermoplastic elastomers (TPE) and polymers across industries is expected. The adaptability of TPE and other polymers in molding to desired shapes enhances their utilization across diverse sectors. Additionally, the burgeoning middle class in the region is foreseen to drive increased demand for vehicles. In the specific context of the thermoplastic elastomers (TPE) market, China dominates in terms of market share, while India exhibits the fastest growth rate within the Asia-Pacific region.
The Thermoplastic Elastomer (TPE) market is segmented into sectors based on the end usage such as Automotive, Construction Industry, Plastic Engineering, Wire & Cable, and Others. However, Automotive industry is the biggest end-user market of Thermoplastic Elastomer (TPE), holding a share of approximately 52% of the market share in 2022.
Significant companies for Asia Pacific Thermoplastic Elastomer (TPE) are LCY Chemical Corp , Dynasol Group , LG Botian, Arkema (Suzhou) Polyamides Co., Ltd, Shandong Dawn Polymer Co., Ltd Asahi Kasei Chemicals, Kraton Formosa Polymers Corporation (KFPC), Kumho Petrochemical, Lee Chang Yung Chemical Corp, Kraton JSR Elastomers, TSRC Corporation, TSRC Corporation, Kraiburg, INEOS Styrolution, Zeon Corporation, Keyuan Petrochemicals, En Chuan Chemical, Kuraray Co., Ltd, Kuraray GC Advanced Materials Co. Ltd, LG Chem, SABIC SK Nexlene Company, Mitsui Elastomers Singapore Pte Ltd, and Others.
Years considered for this report:
Historical Period: 2015- 2021
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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The objective of the Study:
• To assess the demand-supply scenario of Thermoplastic Elastomer (TPE), which covers the production, demand, and supply of Thermoplastic Elastomer (TPE) around Asia Pacific region.
• To analyze and forecast the market size of Thermoplastic Elastomer (TPE).
• To classify and forecast the Asia Pacific Thermoplastic Elastomer (TPE) market based on end-use and regional distribution.
• To examine Asia Pacific competitive developments such as new capacity expansions, mergers & acquisitions, etc., of the Thermoplastic Elastomer (TPE) market.
To extract data for the Asia Pacific Thermoplastic Elastomer (TPE) market, primary research surveys were conducted with Thermoplastic Elastomer (TPE) manufacturers, suppliers, distributors, wholesalers, and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for the Asia Pacific Thermoplastic Elastomer (TPE) market over the coming years.
ChemAnalyst calculated Thermoplastic Elastomer (TPE) demand around Asia by analyzing the historical data and demand forecast, which was carried out considering the production of raw material to produce Thermoplastic Elastomer (TPE). ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources, such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Thermoplastic Elastomer (TPE) manufacturers and other stakeholders
• Organizations, forums, and alliances related to Thermoplastic Elastomer (TPE) distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Thermoplastic Elastomer (TPE) manufacturers, customers, and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Asia Pacific Thermoplastic Elastomer (TPE) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
1970 thousand tonnes
Market size Volume by 2032
3350 thousand tonnes
Growth Rate
CAGR of 5.75% from 2023 to 2032
Base Year
2022
Estimated Year
2023
Historic Data
2015 – 2021
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by Type, Demand by End-Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Manufacturing Process, Foreign Trade.
Segments covered
By End-Use: (Automotive, Construction Industry, Plastic Engineering, Wire & Cable, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
China, Japan, Singapore, South Korea, Taiwan, Rest of APAC
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Thermoplastic Elastomer (TPE) market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a real-time basis for Thermoplastic Elastomer (TPE).
3. Capacity By Location
To better understand the regional supply of Thermoplastic Elastomer (TPE) by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Thermoplastic Elastomer (TPE) by the leading players and forecast how it will grow in the coming years.
6. Demand by Type
Learn about the various types: Styrenic Block Copolymers (Inc. SBS, SIS, SEBS, SEPS, etc), Thermoplastic Polyolefin Elastomers (POEs TPV TPEs), Others [Copolyester Thermoplastic Elastomers (COPEs) & Polyether-Block-Amide (PEBA), Thermoplastic Urethanes (TPUs)] and their demands. It will allow you to choose which type to concentrate on when designing your strategy.
7. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Automotive, Construction Industry, Plastic Engineering, Wire & Cable, and Others) are creating a market and the forecast for the growth of the Thermoplastic Elastomer (TPE) market.
8. Demand by Region
Analyzing the change in demand of Thermoplastic Elastomer (TPE) in different regions, i.e., China, Japan, Singapore, South Korea, Taiwan, Rest of APAC, which can direct you in mapping the regional demand.
9. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Thermoplastic Elastomer (TPE). Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
10. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Thermoplastic Elastomer (TPE).
11. Manufacturing Process
Discover insights into the intricate manufacturing process of Thermoplastic Elastomer (TPE).
12. Country-wise Export
Get details about quantity of Thermoplastic Elastomer (TPE) exported by major countries.
13. Country-wise Import
Get details about quantity of Thermoplastic Elastomer (TPE) imported by major countries.
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What is the expected Asia Pacific market size of Thermoplastic Elastomer (TPE) in terms of volume for 2032?
Ans:
The Asia Pacific market size of Thermoplastic Elastomer (TPE) is expected to reach approximately 3350 thousand tonnes by 2032, with an expected CAGR of 5.75%.
Q2.
What are the major end-use industries of Thermoplastic Elastomer (TPE)?
Ans:
Thermoplastic Elastomer (TPE) is used in a wide range of end use industries including Automotive, Construction Industry, Plastic Engineering, Wire & Cable, and Others.
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