THERMOPLASTIC ELASTOMERS MARKET ANALYSIS

Thermoplastic Elastomers Market, By Type (Styrene Block Copolymers, Thermoplastic Polyolefin, Thermoplastic Polyurethanes, Thermoplastic Polyamides, and Others), By Application (Photovoltaic Applications, Household Appliances, Wire & Cables , Adhesives, Sealants and Coatings, Footwear, and Others), By End Use Industry (Automotive, Transportation, Building & Construction, Electrical and Electronics, Medical & Healthcare, and Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Jun 2024
Code : CMI847
Pages :147
Formats :
Excel and PDF
Industry : Specialty and Fine Chemicals

Market Challenges: Fluctuation in raw material prices

Fluctuations in the prices of raw materials have been posing challenges for the growth of the global thermoplastic elastomers market recently. Thermoplastic elastomers are polymers that have both thermoplastic and rubber-like properties. They are primarily derived from petrochemical sources and require raw materials such as crude oil, natural gas and their derivatives.

Market Opportunities: Increasing R&D investment

Investing more heavily in research and development could open up tremendous opportunities for growth in the global thermoplastic elastomers market. Thermoplastic elastomers are a versatile class of polymers with applications across many industries, however they still have unrealized potential. With dedicated R&D efforts, manufacturers may be able to expand the material's performance capabilities, enabling new end uses. For example, developing thermoplastic elastomers with enhanced mechanical strength, resistance to chemicals and solvents, or operating temperatures could result in their adoption in more demanding applications like automotive under-the-hood components. This would represent a major market expansion.