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ALBANY, NY, USA - A newly released market research report says that between 2012 and 2018, the global demand for thermoplastic elastomers will grow at a compound annual growth rate of 5%, and the total annual growth rate of demand will reach 6.4%.
Global TPE consumption reached 3.4 million tons in 2011 and will rise to 4.9 million tons by 2018, according to the report, published by Transparency Market Research. The market value will increase from $9.9 billion in 2011 to $15.3 billion in 2018.
The study identifies styrene block copolymers as the largest segment of TPE, accounting for about 48% of the total in 2011. Demand for this material, which is mainly used in paving, roofing and footwear, is expected to continue to stagnate over the next five years as the market approaches saturation.
It is predicted that thermoplastic vulcanized rubber will be the fastest growing product, with an annual increase in demand of 6.6% by 2018.
The drivers of TPE growth include the growing demand for lightweight and high-performance materials in the automotive industry. The shift toward replacing PVC with TPE in large end-use industries is expected to drive demand for TPE higher over the next five years, Transparency Market Research said in its report.
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