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 2037. 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.
