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Automotive Thermoplastic Elastomers Market Growth Projection from 2019 to 2025

Author : Rahul Varpe | Published Date : 2019-10-07 

North America, driven by Canada and the U.S automotive thermoplastic elastomers market may witness significant growth owing to developed automotive sector and strict regulations regarding plastic use. Increase in environmental awareness in consumer has propel fuel efficient car demand.  Rise in population along with increasing automobile products innovation.  Growing sports and luxury car demand may have positive influence on automotive thermoplastic elastomers demand in automotive sector.

Europe driven by UK, France and Germany automotive thermoplastic elastomers market   may grow significantly. Positive outlook towards automobile sector accompanied with high standard of living increase in spending on luxury & sports car is likely to drive industry growth in this region.

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TPE can be extruded, moulded and re- used like plastic whereas it also has elastic properties of elastomer. It returns to original form due to cross linking bond in thermoplastic imparting high elastic property. Commercial grade thermoplastic elastomers are styrene block copolymers (TPE-s), Vulcanised Elastomeric alloys (TPE-V or TPV), Thermoplastic olefins (TPE-o), Thermoplastic polyester (TPE-e), Thermoplastic polyamide and Thermoplastic Polyurethane (TPU).

TPE products are manufactured by three methods which includes extrusion & injection compression and blow moulding. Injection moulding is used to produce solid complex shape products. It also finds application in accurate precision and high-volume products ranging from medium to low sizes. Blow moulding has wide application scope in hollow shapes such as bottles, pottery and containers manufacturing Compression moulding is used in automobile body parts, kitchen ware and toys production.

Automotive thermoplastic elastomers are easily moulded and used in radiator hose, wire cable, bumper guard, under hood, seat covers, window encapsulation and internal automotive parts production. They are light in weight and improves automotive fuel efficient. Global automotive industry is poised to surpass 110 million units by 2024. Increasing consumers spending on luxury cars with aesthetic features and high quality automotive parts is likely to stimulate product demand. Expanding automotive sector mainly in India and China should fuel automotive thermoplastic elastomers demand thereby propelling industry growth.

Stringent government regulations led by EPA regarding fuel consumption and pollutant emission due to rising environmental concerns may favour product demand. Increasing recycle & re- usable polymer promotion is likely to drive automotive thermoplastic elastomers demand.

Styrene copolymers, polyurethane, polyester and olefins availability is dependent on petroleum industry. Fluctuating raw materials price may hamper industry profitability thereby affecting automotive thermoplastic elastomers price trends.

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Global automotive thermoplastic elastomers market share is consolidated.  Major players operating in this market are Bayer, Dow, BASF, Arkema, Huntsman, Asahi Kasei, TSRC and Sinopec.

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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