TPEs expected to reach 5.5m tones by 2020 according to industry report

According to Smithers Rapra consultants, commodity applications are leading to a significant global rise in the global thermoplastic elastomers (TPEs) market. As stated in the European Rubber Journal the consultancy has examined trends and technologies impacting the TPE market in a new report, titled “The Future of Thermoplastic Elastomers to 2020”.

TPEs expected to reach 5.5m tones by 2020 according to industry report 1According to the study, the global consumption has reached in 2015 4,200 kilotonnes (kt), which is up from 3,700kt in 2013, and with a growth rate (CAGR) of 5.5 percent is expected to reach 5,500kt in 2020. According to ERJ, Smithers Rapra have also analyzed future trends in the automotive, building and construction, industrial, footwear, medical and healthcare sectors.

TPEs expected to reach 5.5m tones by 2020 according to industry report 2The results reveal, that the automotive and building and construction markets account to more than half of global TPE consumption. The recession has however strongly impacted these two markets and only the automotive sector seems to have made a partial recovery.

The author of the report Patrick Ellis has said that “average growth rates are now settling down and with possible exceptions, they are nowhere near as high as they were ten years ago.” He also noted that “this is a sign that TPEs are beginning to become a mature market as their acceptance increases globally”.

Automotive and other transportation applications are expected to continue to dominate the end-use market, increasing their market share to 44 percent in 2020. Rising stars are medical and hygiene applications, as well as those for wire and cable. They are showing high CAGRs for the 2015-20 period and will jointly occupy more than 15 percent market share in 2020.

ERJ further states, that, according to the report, there is also expected to be an increased emphasis on bio-based TPEs and TPE-based rubber.

Asia shall continue to be the largest and fastest growth market, and China shall remain the dominant player in that region. Both Europe and North America are in slight recession.

For Asia/Pacific growth has been estimated at 7.3 percent, North America – at 4 percent and Europe’s forecast is for 3.2 percent to 2020.

Link to the report

Article source: European Rubber Journal

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