Thermoplastic Polyester Elastomer (TPEE) Market Size & Share, by Grade (Injection Molding Grade, Extrusion Molding Grade, Blow Molding Grade); Application (Automotive Components, Industrial Products, Consumer Products); End-use (Medical, Industrial, Automotive) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5886
  • Published Date: Mar 19, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024- 2036

Thermoplastic Polyester Elastomer Market size is anticipated to reach USD 542 Billion by the end of 2036, growing at a CAGR of 6% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of thermoplastic polyester elastomer was USD 292 Billion. The growth of this market is driven by the growing demand for lighter materials in the automotive sector. Thermoplastic Polyester Elastomer is a popular option for automotive applications because of its exceptional mechanical performance and lightweight characteristics. In addition, the properties of TPEE in terms of flexibility, durability, and chemical resistance make it suitable for use in a variety of automotive components such as seals, gaskets, hoses, or interior trims. As per the recent survey, parts, services, and maintenance-related searches account for over 25% of all automobile searches. Therefore, the adoption of TPEE is expected to increase as the automotive components sector continues to focus on fuel efficiency and sustainability.

Furthermore, TPEE exhibits exceptional chemical stability in a range of environmental circumstances, including ozone, water mist, and outside air. Also, excellent anti-fatigue qualities are exhibited by thermoplastic polyester elastomers or TPEE. They have superior rip strength and tolerance to high temperatures up to 140°C. They are perfect for blow molding applications like extrusions and industrial tubes because of their characteristics.


Thermoplastic Polyester Elastomer Market
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Thermoplastic Polyester Elastomer Sector: Growth Drivers and Challenges

Growth Drivers

  • Increased Adoption of Sustainable and Eco-friendly Materials – Sustainability of the environment is increasingly a concern for consumers and regulatory authorities. Compared to traditional materials such as PVC or rubber, TPEE is a recyclable material which makes it an environmentally friendly option. In addition, TPEE production requires less energy and produces less greenhouse gas emissions than other materials, contributing to the overall carbon footprint of the production process. The growing preference for products made from sustainable materials is being driven by the increasing awareness of environmental issues among consumers. To meet TPEE market needs, they are compelled to adopt environmentally friendly materials such as TPEE in response to this shift in consumer behavior.
  • Growing Use in the Electrical & Electronics Industry - The market is expanding faster as a result of the electrical and electronics industries' growing need for TPEE. TPEE is a good material for cables, connections, and other electronic components because of its exceptional electrical insulating qualities and tolerance to high temperatures. Also, TPEE is lightweight, which is advantageous for portable electronic devices including smartphones, tablets, laptops, wearable devices, Bluetooth speakers, and others where weight reduction is desirable without compromising on durability or performance. Therefore, the growing penetration of these products is also propelling the growth of the TPEE market. As per a report, for the first time since 2018, the anticipated 2022 global smartphone penetration rate was 68%.
  • Rising Technological Advances in the Production of TPEE - As the demand for thermoplastic polyester elastomer foams that exhibit outstanding mechanical properties, eco-friendliness, and affordability, the companies are striving to develop advanced TPEE. To reduce dependency on fossil fuels and promote environmental sustainability, research & development of bio-based TPEE formulations derived from renewable sources such as biodiesel or biodegradable additives is also being undertaken. For instance, through supercritical carbon dioxide (scCO2) foaming, an institute created a lightweight, environmentally friendly TPEE foam system with adjustable cellular textures and superior performance. Also, advanced processing technologies, such as injection molding of multiple components foam extrusion, and 3D printing have been adopted to produce composite TPEE products with enhanced performance and flexibility in their design.

Challenges

  • Fluctuating Raw Material Prices - Volatility in the prices of raw materials used in TPEE production, such as polyesters and polyether, can impact the overall cost production of manufacturing and subsequently affect market growth.
  • Intense Competition from Alternatives may Hinder Market Growth
  • Limited Awareness in Developing Regions may Hamper Market Growth

Thermoplastic Polyester Elastomer Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~ 6%

Base Year Market Size (2023)

 ~ USD 292 Billion

Forecast Year Market Size (2036)

 ~ USD 542 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Thermoplastic Polyester Elastomer Segmentation

Grade (Injection Molding Grade, Extrusion Molding Grade, Blow Molding Grade)

Injection molding grade segment in the thermoplastic polyester elastomer market is anticipated to hold a share of 47% during the forecast period. The injection molding process is a highly efficient production method for the manufacturing of complex TPEE parts with high accuracy and consistency. Injection molding also enables the production of TPEE parts with intricate geometric shapes and details, making it possible for designers to develop new products that are more functional and attractive. In particular, this flexibility in design has contributed to the increased adoption of injection-molded TPEE for a wide range of applications. In addition, it can be used in a broad range of applications across industries such as automobiles, electronics, consumer goods, health care, and equipment. Therefore, these factors contribute to the growth of the injection molding grade segment.

Application (Automotive Components, Industrial Products, Consumer Products)

Automotive components segment in the thermoplastic polyester elastomer market is expected to hold a share of 44% during the forecast period. The rising plastics consumption in automotive components, along with parallel increases in the production of passenger cars, heavy-duty vehicles, and electric vehicles is propelling the growth of the segment. For instance, global investments in the manufacture of electric vehicles increased by 50% between 2021 and 2022, totalling over USD 425 billion. Because of the product's biocompatibility, electronic vehicles (EVs) are becoming more and more commonplace worldwide, which is predicted to increase TPEE use and production in the automotive sector. High-quality automotive instrument panels, seat backs, airbag deployment doors, air intake ducting, wheel covers, dashboard components, door liners and handles, pillar trim, and consumer goods components are just a few of the many uses for TPEE in the automotive industry. As a result of the above-mentioned elements, the market is predicted to witness growth in this segment over the course of projection period.

Our in-depth analysis of the global market includes the following segments:

          Grade

  • Injection Molding Grade
  • Extrusion Molding Grade
  • Blow Molding Grade

          Application

  • Automotive Components
  • Industrial Products
  • Consumer Products

          End-use

  • Medical
  • Industrial
  • Automotive

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Thermoplastic Polyester Elastomer Industry - Regional Synopsis

North America Market Forecast

North American thermoplastic polyester elastomer market is poised to hold the largest share of 35% by the end of 2036. The growing demand for lightweight, durable, eco, and environmentally friendly materials such as TPEE is driving the growth of the market in this region due to North America's role as a major automotive production and innovation center. For instance, in 2022, almost 14.8 million automobiles were manufactured in North America. One of the key factors that accelerates market growth in this region is an increasing emphasis on sustainability and environment protection across industry sectors there. In addition, to meet the evolving consumer demands and industry trends, companies in this region have a track record of focusing on innovation and product development. The adoption of advanced materials such as TPEE, which contribute to the growth of the market in the region, is driven by this emphasis on innovation.

APAC Market Statistics

Thermoplastic polyester elastomer market for Asia Pacific is anticipated to grow significantly with a share of 28% during the forecast period. The need for TPEE compounds in the automotive, industrial machinery, packaging, and electrical & electronics industries is anticipated to grow as the manufacturing sector expands. The steadily expanding automobile manufacturers cover the product voids in the regional market. Bangladesh, China, Indonesia, and India are anticipated to be the primary forces behind the expansion of the regional market. Furthermore, a strong foundation of electrical and electronics manufacturing in South Korea and China is probably going to affect the market's growth by influencing the need for thermoplastic polyester elastomers.

Research Nester
Thermoplastic Polyester Elastomer Market Size
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Companies Dominating the Thermoplastic Polyester Elastomer Landscape

top-features-companies
    • DuPont
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • DSM
    • Toyobo
    • Taiwan Changchun
    • Jiangyin Hetron
    • Celanese
    • SK Chemicals
    • LG Chem
    • SABIC
    • RadiciGroup

In-the-news

In The News

  • November 2020 - With the help of Covestro's sustainable cast elastomer solution, the offshore sector may lessen its carbon footprint and environmental effect. The cardyon® brand polyols, which contain CO2, serve as the foundation for the polyurethane elastomers and provide comparable good performance to elastomers based on petrochemicals. These precursors can be produced from carbon dioxide up to 20 percent by weight owing to a new technique from Covestro, which replaces the corresponding amount of typically utilized fossil raw materials.
  • October 2021 - DuPont announced that it would present new DuPontTM LiveoTM Pharma TPE Tubing at three major industry events: October 19–21 in New York, USA; October 19–21 at INTERPHEX in Nanjing, China; and November 19–21 at CPhI in Milan, Italy. With the addition of a variety of extruded pharma tubing based on thermoplastic elastomer (TPE) technology, intended for fluid transport and single-use bioprocessing applications, and adhering to the same high-quality and high-performance standards as the LiveoTM Silicone Pharma Tubing product lines, the launch represents a significant milestone for the brand.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 5886
  • Published Date: Mar 19, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increased adoption of sustainable and eco-friendly materials, growing use in the electrical & electronics industry, and growing technological advances in the production of TPEE are the major factors driving the growth of the thermoplastic polyester elastomer market.

The market size of thermoplastic polyester elastomer is anticipated to attain a CAGR of 6% over the forecast period, i.e., 2024-2036.

The major players in the market are DuPont, DSM, Toyobo, Taiwan Changchun, Jiangyin Hetron, Celanese, SK Chemicals, LG Chem, SABIC, RadiciGroup, and others.

The injection molding grade segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North America region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Thermoplastic Polyester Elastomer Market Report Scope
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