In May 2019, ExxonMobil, a key company in the elastomers market, doubled its manufacturing capacity of specialty elastomers. This expansion is attributed to the fact that the demand for thermoplastic elastomers, a major segment of the specialty elastomers, is expected to witness a lucrative growth. The expansion will help the company to capture high thermoplastic elastomers market share, and the future foresees more market players to venture into the business, in order to capitalize on the demand influx. According to a recently published report by IndustryARC, the Thermoplastic Elastomers market valuation is projected to reach $23.93 billion by the end of 2023, with a CAGR of 5.96% during the forecast period 2018-2023.
The business strategies of other market players and their revenues in 2017 are meticulously documented in the thermoplastic elastomers market research report. Furthermore, the report provides a peek into business opportunities in all segments and facts, figures, and statistics along with the trends and challenges that are disrupting the thermoplastic elastomers market. The IndustryARC report is titled, “Thermoplastic Elastomers Market: By Type (Carbon Thermoplastic Elastomers, Stainless Thermoplastic Elastomers, Alloy Thermoplastic Elastomers, Tool Thermoplastic Elastomers and Others), By End-User (Construction, Machinery, Automotive and Transportation, Kitchenware and Domestic Appliances, Electrical and Electronics, Healthcare, Energy and Others) and By Geography Forecast (2018-2023).”
Thermoplastic Elastomers Market: Geographical Analysis & Leading Segments
North America had the maximum thermoplastic elastomers market revenue share with a valuation of $4,497.47 million in 2017. Major application drivers for the regional market are the expanding packaged food sector in Latin American countries and increased ship-building in the U.S. and Mexico. These applications use major crunch of thermoplastic elastomers in the region. Furthermore, the U.S. is a major marketplace due to on-going construction activities that require thermoplastic elastomers in paints and coatings that are integral parts of the construction project.
The thermoplastic elastomers market research report has an in-depth assessment of the application segment. According to the application analysis by the analyst, the automotive application segment offered maximum opportunities to the players in the thermoplastic elastomers market. The application of thermoplastic elastomers in the automotive industry is projected to witness a CAGR of 5.07% through 2023.
“Due to rising disposable income, there is an augmented demand for vehicles and an upsurge in vehicle production with the advent of electric and autonomous trucks can be seen, which will create opportunities in the thermoplastic elastomers market.”; highlights by analyst in the report.
Thermoplastic Elastomers Market: Trends and Growth Drivers
· Increasing Application of Thermoplastic Elastomers in Medical & Hygiene –
There is an increasing demand of thermoplastic polymers in sealing and liquid handling equipment in the pharmaceutical sector. As thermoplastic polymers are superior and sustainable than conventional thermosets polymer which was previously used for the same purpose. The demand the influx from the medical industry is boosting the revenue in thermoplastic elastomers market.
· Packaging Industry Supporting the Thermoplastic Elastomers Market –
The thermoplastic elastomers market is projected to witness revenue of more than $500 million by the end of 2023 as the demand from packaging industry is expected to grow at a CAGR of more than 5% during the forecast period. This is due to growing flexible packaging market, which is proving to be a profitable marketplace for thermoplastic elastomers.
· Thermoplastic Elastomers Market Gaining Foothold in the Footwear Sector –
The easy economic processing, value for money, and aesthetic versatility are some traits that are increasing the application of thermoplastic elastomers in footwear sector. Thermoplastic elastomers are used in the footwear industry to produce various types of soles, shoe platforms, wooden soles, and rubber boots.
Thermoplastic Elastomers Market: Competitive Landscape
Some of the key companies identified in Thermoplastic Elastomers Market intelligence report that are striving to capitalize on the customer-base are A. Schulman, Inc. (U.S.), BASF (Germany), BAYER (Germany), Berkshire Hathaway (Lubrizol), Dow Chemical Company (U.S.), E. I. du Pont de Nemours and Company (U.S.), Dynasol (U.S.), Exxon Mobil Corporation (U.S.), Huntsman Corporation (U.S.), Kraton Polymers (U.S.), Kuraray (Japan), LCY Chemical (Taiwan), and LG Chemicals (South Korea).
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a) Plastics in Electric Vehicles Market
b) Specialty Polymers Market
c) Polyurethanes Market
What can you expect from the report?
The thermoplastic elastomers market report is prepared with the main agenda to cover the following 20 points:
1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisitions Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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Response: Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:
1. Increase the level of data in application or end user industry.
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3. Find out market shares for other smaller companies or companies which are of interest to you.
4. Company profiles can be requested based on your interest.
5. Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end use segment.
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About IndustryARC: IndustryARC is a research and consulting firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.