The global thermoplastic elastomer market will grow at an average annual rate of 5% or more over the next five years
The global thermoplastic elastomer market will grow at an average annual rate of 5% or more over the next five years
The world's thermoplastic elastomer (TPE) market will grow at an annual rate of more than 5 per cent in the next five years, according to a recent study published by Smithers Pira, a market research firm based in lyserhead, UK.
The company noted that the TPE industry has grown at a compound annual growth rate of 5.4 per cent since 2012, with the market expected to reach 4.24m tonnes in 2017. Although the TPE industry is maturing, it will continue to grow at 5.5 per cent over the next five years, with the market expected to reach 5.53 million tonnes by 2022.
The report predicts that SBS, which has long dominated the global TPE market, will slowly cede market share to other products. The styrene thermoplastic elastomer (TPS) will remain the most important TPE product in 2022, but the situation may not last long. The impact factors include price increases and the lack of significant progress in the development of pipeline technology. In addition, due to the low entry threshold for the TPS market, 2017 will continue to have excess capacity in 2022, especially in Asia, especially in China.
The automobile industry is the main final application department of TPE. 2012 -- 2017, the average annual growth rate of this sector is about 5.9%, higher than the average growth rate, and the market size will reach 1.84 million tons in 2017, accounting for 43.4% of the total market. The company further predicts that TPE consumption in the auto industry will reach 24.60 million tons in 2022, accounting for 44.4% of the market share, with a compound annual growth rate of 6.0%.
The growth rate of medical applications will also be higher than the average growth rate, which is also true to a certain extent. And the growth of electrical and household goods, construction, sports and leisure, toys and power lines is lower than average, but still higher than GDP growth in all regions.
