Thermoplastic Elastomers Market Size , Share , Trends , Analysis and Forecasts To 2021
Market Research analysts forecast the global thermoplastic elastomers market to grow at a CAGR of 7.78 % during the period 2017-2021 .
The following companies as the key players in the global thermoplastic elastomers market : China Petroleum & Chemical Corporation ( Sinopec ), Dynasol , LCY Chemical , LyondellBasell Industries , and PolyOne .
Other Prominent Vendors in the market are : Arkema , BASF , Covestro , DuPont , Evonik , Huntsman , and TSRC .
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Commenting on the report , an analyst team said : The latest trend gaining momentum in the market is increasing applications of thermoplastic copolyesters and TPVs . There is an increasing usage of copolyesters and TPVs over the other TPEs by automotive manufacturers in recent years . Although all types of TPEs can be used to replace natural rubber and EPDM in automotive applications , the majority of the manufacturers prefer copolyesters and TPVs over other counterparts . This is due to their superior chemical and physical properties , such as lightweight , abrasion resistance , and excellent electrical properties .
According to the report , one of the major drivers for this market is replacement of conventional materials . TPEs are increasingly replacing conventionally used materials , such as EPDM ( M-class ), NBR , PVC , and conventional plastics in various applications , including automotive , electronics , healthcare , and packaging . The replacement of traditional materials with TPEs is significant in the automotive industry . Conventional materials are used in a range of applications , including sealing systems of door and window seals , and for manufacturing ancillaries of automotive interiors , such as instrument and door panels .
Further , the report states that one of the major factors hindering the growth of this market is volatile raw material prices . Constant fluctuations in the prices of raw materials used for manufacturing TPEs poses a challenge to the manufacturers . Styrene , butadiene , ethylene , and polypropylene , the major raw materials used for producing TPEs , are produced from petrochemicals , such as ethane , butane , propane , and naphtha . The price of these petrochemicals depends on the price of the crude oil .