Market Trends: Automotive Industry Keeps Thermoplastic Elastomers Market Strong
About 40% of all TPE products consumed worldwide are used in the manufacturing of vehicles.
In the course of several product innovations, thermoplastic elastomers (TPEs) are increasingly replacing standard plastics and conventional elastomers. Due to far-reaching options for the combination of elastic and thermoplastic phases, TPEs are among the most dynamically developing materials. They are mainly used in the automotive industry, but new applications are continuously being found in other sectors. Revenues generated with TPE amounted to $16.7 billion in 2014; market research company Ceresana forecasts annual revenues generated with TPE to increase by 4.7% per year until 2022.