Asia
Pacific thermoplastic elastomers Market strategic research study
offers company accounts, industry investors, and industry members with
consequential insights to enable them to make reliable strategic decisions
regarding the opportunities in the global market.
Asia Pacific thermoplastic
elastomers Market research report offers detail overview of industry with all
the requisite data to support tactical business decisions and come up with
strategic growth plans. This study also proposes a comprehensive insight into
the development policies and plans in addition to manufacturing processes and
cost structures.
KEY BENEFITS
1. Asia Pacific thermoplastic elastomers
market analysis based on current industry scenario and expected future trends
to enable stakeholders take strategic decisions.
2. Analysis of the factors impacting the Asia
Pacific thermoplastic elastomers market to understand business opportunities.
3. Identification of key investment pockets
for various applications, type and geographies.
4. Identification of the Asia Pacific
thermoplastic elastomers market top key players and their strategic moves.
5. Evaluation of Asia Pacific thermoplastic
elastomers market trends to provide deep-dive intelligence into every market
segment.
6. Competitive analysis to effectively plan
and execute a business plan.
7. Asia Pacific thermoplastic elastomers
market micro-level analysis based on application, type and geography.
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Industry Insights
Asia Pacific thermoplastic
elastomers market size was USD 4.63 billion in 2014 and is anticipated to reach
over USD 7.82 billion by 2022. It is expected to witness substantial growth over
the forecast period owing to growing automotive manufacturing in countries such
as India, China, Indonesia and Thailand. The introduction of government
policies that support investment along with private players emphasizing on
enhancing technologies is anticipated to further fuel market demand.
TPEs have superior
properties such as moisture resistance, excellent elasticity and flexibility
and tactile grip and hence are widely used in automotive components. Demand
from other industries such as footwear, medical devices, and electronics is
expected to remain a key driving factor for growth over the forecast period. Growth
in demand is expected owing to the ease of recycling and processing with negligible
emission is anticipated to result in higher demand. They have replaced
thermosets in varied applications including medical devices and electronic
components. TPE are gaining prominence mainly on account of the high degree of
purity, low level of extractable compounds, cost effectiveness and recycling
ability. They are popularly known as an ideal substitute for latex and PVC
owing to above-mentioned factors.
Block copolymers and
ionomers are the major raw materials for manufacturing TPE. Block copolymer
process utilizes SBS rubber (styrene-butadiene-styrene) formed by combining a
long block of polybutadiene with a short block of polystyrene where as ionomer
process includes copolymers of ethylene and methacrylic acid. Increasing
disposable income, rapid industrialization, and economic progress has progressively
fostered automotive, electronics and consumer goods sectors, resulting in
higher demand for component manufacturing end-uses. This aspect is likely to
boost market growth, especially in India and China.
Improvement in the
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 to increasing demand for
transparent product packaging in different markets including consumer goods,
electronics and medical applications. Other growing industries are projected to
boost thermoplastic elastomers in personal care products, footwear, wire and
cable, clothing applications and sports and leisure equipment.
Market players may have to
confront major 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 Insights
SBC 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 including footwear, advanced
materials and paving & roofing is expected to further improve industry
growth over the forecast period.
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 period amongst
all products from 2015 to 2022. TPV is broadly used in fluid handling, consumer
goods and 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-mentioned applications.
Regional Insights
China TPE market was the
market leader in Asia Pacific with an estimated revenue exceeding 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 is anticipated to further augment the regional market demand from 2015 to
2022.
Competitive Insights
The market is fragmented
with numerous players including BASF, DuPont, Arkema, Huntsman Corporation, Dow
Chemical Co. Other key participants include Bayer Material Science, Advanced
Elastomer Systems L.P., EMS Group, China Petroleum & Chemical Corporation,
Dynasol Elastomer LLC, Kraton Polymer LLC, Evonik Industries,LG Chemicals,
LyondellBasell Industries, LCY Chemical Corporation,Lubrizol Corporation,
PolyOne Corporation, Nippon Polyurethane Industry Company Ltd,Teknor APEX
Company, Kraiburg TPE,TSRC Corporation, Polymax TPE and RTP Company.
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