Asia-Pacific Thermoplastic Elastomer Market Introduction and Overview
According to SPER Market Research, the Asia-Pacific Thermoplastic Elastomer Market is estimated to reach USD 20.45 billion by 2033 with a CAGR 8.85%.
The report includes an in-depth analysis of the Asia-Pacific Thermoplastic Elastomer Market, including market size and trends, product mix, distribution channels, and supplier analysis. A polymer known as a thermoplastic elastomer (TPE) combines the qualities of plastic and rubber. Similar to rubber, TPEs are elastic, flexible, and able to stretch without losing their shape, which makes them perfect for applications requiring both durability and flexibility. In contrast to conventional rubber, TPEs have thermoplastic behavior, meaning that when heated, they may melt and change shape, making processing and manufacturing simpler. TPEs are widely used in a variety of industries, such as consumer electronics, household products, medical devices, and automotive parts, due to their flexibility and plastic-like manufacturing.
- A multinational corporation based in France, Arkema S.A. manufactures chemicals and sophisticated materials. Its three primary business segments—coating solutions, industrial specialty, and high-performance materials—offer a broad variety of goods.
Market Opportunities and Challenges
Opportunities: The need for thermoplastic elastomers has been spurred by the increased need for robust, lightweight, and reasonably priced materials in a variety of industries, including consumer goods, construction, and the automotive sector. The region's growing infrastructure and growing building activity are expected to support market expansion. TPEs are also being adopted more quickly because to strict environmental laws and the drive for sustainable solutions. Thermoplastic elastomers are widely used in the electronics industry. Smartphones, OLED TVs, tablets, and other electronic devices are experiencing the fastest market growth in the consumer electronics sector. In the near future, the market for thermoplastic elastomers is expected to be driven by the rising demand for electronic devices due to the middle class's increased disposable income.
Challenges: There are many different types of thermoplastic elastomers available on the market. Regarding cost and performance standards, they differ. A certain type of thermoplastic elastomer is chosen based on the profit margin of the applications. The recent trend of simplifying the procedure of choosing a certain type of thermoplastic elastomer is posing a challenge to the expansion of various thermoplastic elastomer types. By focusing on specific types and enabling them to perform the activities of other types, the number of thermoplastic elastomer types that are available is reduced.
Market Competitive Landscape
The market for thermoplastic elastomers in Asia-Pacific is modertely consolidated. Arkema S.A., Avient Corporation, BASF SE, Bayer MaterialScience LLC, China Petroleum & Chemical Corporation, Huntsman Corporation, Kraton Polymers LLC, LG Chem, LyondellBasell Industries N.V., Nippon Polyurethane Industry Co. Ltd, Teknor Apex, Others are some of the major companies in the market.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Material, By Application |
| Regions covered | Australia, China, India, Japan, South Korea, Rest of Asia-Pacific |
| Companies Covered | Arkema S.A., Avient Corporation, BASF SE, Bayer MaterialScience LLC, China Petroleum & Chemical Corporation, Huntsman Corporation, Kraton Polymers LLC, LG Chem, LyondellBasell Industries N.V., Nippon Polyurethane Industry Co. Ltd, Teknor Apex, Others. |
COVID-19 Impact on Asia-Pacific Thermoplastic Elastomer Market
The Asia-Pacific Thermoplastic Elastomer (TPE) market was greatly affected by the COVID-19 epidemic, which resulted in both demand changes and interruptions. At first, transit restrictions and industrial closures severely affected supply chains, especially in large production centers like China. Delivery of completed goods and the availability of raw materials were delayed as a result. At the same time, economic slowdowns, plant closures, and a decline in consumer spending resulted in decreased demand for TPEs from key consumers like the automotive, construction, and consumer electronics industries. However, because TPEs are utilized in medical equipment like tubing, seals, and personal protective equipment (PPE) like masks and gloves, which witnessed a spike in demand during the pandemic, the healthcare industry saw an increase in demand for these materials.
Key Target Audience:
- Automotive Industry
- Consumer Goods Manufacturers
- Medical Device Manufacturers
- Packaging Industry
- Electronics and Electrical Industry
- Construction Industry
- Footwear Industry
- Adhesives and Sealants Manufacturers
Our in-depth analysis of the Asia-Pacific Thermoplastic Elastomer Market includes the following segments:
| By Material: | Poly StyrenesPoly OlefinsPoly Ether ImidesPoly UrethanesPoly EstersPoly Amides |
| By Application: | AutomotiveElectrical & ElectronicsIndustrialMedicalConsumer GoodsOthers |
Key Topics Covered in the Report:
- Asia-Pacific Thermoplastic Elastomer Market Size (FY’2024-FY’2033)
- Overview of Asia-Pacific Thermoplastic Elastomer Market
- Segmentation of Asia-Pacific Thermoplastic Elastomer Market By Material (Poly Styrenes, Poly Olefins, Poly Ether Imides, Poly Urethanes, Poly Esters, Poly Amides)
- Segmentation of Asia-Pacific Thermoplastic Elastomer Market By Application (Automotive, Electrical & Electronics, Industrial, Medical, Consumer Goods, Others)
- Expansion Analysis of Asia-Pacific Thermoplastic Elastomer Market
- Problems and Obstacles in Asia-Pacific Thermoplastic Elastomer Market
- Competitive Landscape in the Asia-Pacific Thermoplastic Elastomer Market
- Impact of COVID-19 and Demonetization on Asia-Pacific Thermoplastic Elastomer Market
- Details on Current Investment in Asia-Pacific Thermoplastic Elastomer Market
- Competitive Analysis of Asia-Pacific Thermoplastic Elastomer Market
- Prominent Players in the Asia-Pacific Thermoplastic Elastomer Market
- SWOT Analysis of Asia-Pacific Thermoplastic Elastomer Market
- Asia-Pacific Thermoplastic Elastomer Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Asia-Pacific Thermoplastic Elastomer Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Asia-Pacific Thermoplastic Elastomer Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Asia-Pacific Thermoplastic Elastomer Market
7. Asia-Pacific Thermoplastic Elastomer Market, By Material (USD Million) 2020-2033
7.1. Asia-Pacific Thermoplastic Elastomer Market Size, Share and Forecast, By Material, 2020-2026
7.2. Asia-Pacific Thermoplastic Elastomer Market Size, Share and Forecast, By Material, 2027-2033
7.3. Poly Styrenes
7.4. Poly Olefins
7.5. Poly Ether Imides
7.6. Poly Urethanes
7.7. Poly Esters
7.8. Poly Amides
8. Asia-Pacific Thermoplastic Elastomer Market, By Application (USD Million) 2020-2033
8.1. Asia-Pacific Thermoplastic Elastomer Market Size, Share and Forecast, By Application, 2020-2026
8.2. Asia-Pacific Thermoplastic Elastomer Market Size, Share and Forecast, By Application, 2027-2033
8.3. Automotive
8.4. Electrical & Electronics
8.5. Industrial
8.6. Medical
8.7. Consumer Goods
8.8. Others
9. Asia-Pacific Thermoplastic Elastomer Market Forecast, 2020-2033 (USD Million)
9.1. Asia-Pacific Thermoplastic Elastomer Market Size and Market Share
10. Asia-Pacific Thermoplastic Elastomer Market, By Region, 2020-2033 (USD Million)
10.1. Asia-Pacific Thermoplastic Elastomer Market Size and Market Share By Region (2020-2026)
10.2. Asia-Pacific Thermoplastic Elastomer Market Size and Market Share By Region (2027-2033)
10.3. Australia
10.4. China
10.5. India
10.6. Japan
10.7. South Korea
10.8. Rest of Asia-Pacific
11. Company Profile
11.1. Arkema S.A.
11.1.1. Company details
11.1.2. Financial outlook
11.1.3. Product summary
11.1.4. Recent developments
11.2. Avient Corporation
11.2.1. Company details
11.2.2. Financial outlook
11.2.3. Product summary
11.2.4. Recent developments
11.3. BASF SE
11.3.1. Company details
11.3.2. Financial outlook
11.3.3. Product summary
11.3.4. Recent developments
11.4. Bayer MaterialScience LLC
11.4.1. Company details
11.4.2. Financial outlook
11.4.3. Product summary
11.4.4. Recent developments
11.5. China Petroleum & Chemical Corporation
11.5.1. Company details
11.5.2. Financial outlook
11.5.3. Product summary
11.5.4. Recent developments
11.6. Huntsman Corporation
11.6.1. Company details
11.6.2. Financial outlook
11.6.3. Product summary
11.6.4. Recent developments
11.7. Kraton Polymers LLC
11.7.1. Company details
11.7.2. Financial outlook
11.7.3. Product summary
11.7.4. Recent developments
11.8. LG Chem
11.8.1. Company details
11.8.2. Financial outlook
11.8.3. Product summary
11.8.4. Recent developments
11.9. LyondellBasell Industries N.V.
11.9.1. Company details
11.9.2. Financial outlook
11.9.3. Product summary
11.9.4. Recent developments
11.10. Nippon Polyurethane Industry Co. Ltd
11.10.1. Company details
11.10.2. Financial outlook
11.10.3. Product summary
11.10.4. Recent developments
11.11. Teknor Apex
11.11.1. Company details
11.11.2. Financial outlook
11.11.3. Product summary
11.11.4. Recent developments
11.12. Others
12. Conclusion
13. Reference Links
14. List of Abbreviations