THERMOPLASTIC ELASTOMERS MARKET ANALYSIS

Market Concentration and Competitive Landscape

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Growing Demand from Medical Industry

The medical industry has emerged as a significant end use segment for thermoplastic elastomers as well. Manufacturers are utilizing these materials for a variety of medical devices and applications due to advantages such as flexibility, improved tactile properties, and excellent chemical resistance. Catheters, tubing, and other implantable medical devices are making extensive use of thermoplastic elastomers. Their flexibility and low tackiness reduce patient discomfort compared to other materials. They also provide improved sealing for enteral feeding tubes. The material is seeing strong demand for use in stopcocks, syringe plungers, tubing for respiratory applications, and other components that come into contact with human skin or tissues. Thermoplastic elastomers are easier to sterilize than natural rubber goods, reducing the risk of contamination or infection. With the global population aging significantly, medical device usage is projected to keep growing substantially in the coming decades. As a result, the demand for high performance elastomers like thermoplastic elastomers is expected to keep rising sharply to support this industry.