Market Revenue Asia Pacific Thermoplastic Elastomers Market | Seite 2

Increasing disposable income, rapid industrialization, and economic progress hasprogressively fostered
automotive, electronics and consumer goodssectors, resulting in higher demand for component manufacturing
end-uses. This aspect is likely to boost market growth, especially in India and China.Improvementinthe
production process has propelled demand for biodegradable and recyclable TPE producing less scrap material.
Additionally, packaging application segment is expected to witness exponential growth owing toincreasing
demand for transparent product packaging in different markets includingconsumer goods, electronics and
medical applications. Other growing industries are projected to boost thermoplastic elastomers inpersonal care
products, footwear, wire and cable, clothing applications and sports and leisure equipment.
Market players may have to confrontmajor barriers to substitute rubber materials. Key companies are gradually
undertaking new product development and innovation to allow entry into new marketplaces where rubber
remains the dominant‘most applications.Product InsightsSBC accounted for 50% of the overall volume and
emerged as the largest application segment in 2014. Demand for hydrogenated SBC is catching momentum in
sealants,adhesives, coatings,films and coating applications on account of its superior pressure sensitivity. Rising
demand from applications includingfootwear, advanced materials and paving & roofing is expected to further
improve industry growth over the forecast period.
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TPO finds its widespread applications in automotive industry such as fascia systems, instrument panels and
bumpers. It emerged as the second most consumed product in the market. Key automotive OEMs are
increasingly adopting plastics in automotive components as a substitute for alloys and metals in order to reduce
weight, improve structural strength and gain chemical resistance.TPV is estimated to experience the highest
growth at a CAGR of 7.4% over the forecast periodamongst all products from 2015 to 2022. TPV is broadly used
in fluid handling, consumer goodsand automotive applications. Growing usage of TPV in the automotive sector,
such as interiors and under the hood components, on account of its high oil and heat resistance, is anticipated
to be an important driving factor for market growth over the forecast period. TPU is mostly used in construction,
hose & tubing, wire & cables and automotive. Its superior thermal insulation and acoustic properties, when
compared to thermoset PU, plays a vital role contributing toits consumption in the above-men tioned
applications.
Regional Insights
China TPE market was the market leader in Asia Pacific with anestimated revenueexceeding USD 2 billion in
2014. The market in the region experiences a high demand for TPU and TPV in automotive and medical
applications respectively. Thermoplastics consumption in automotive applications is used as an alternative to
alloys and metals owing to favourable government policies. In addition, increasing production of passenger cars