Thermoplastic Polyester Elastomer (TPEE) Market Emerging Trend, Outlook and Future Scope Analysis 2032

Market Summary:

The global Thermoplastic Polyester Elastomer (TPEE) Market had a value of USD 1.9 billion in 2022 and is projected to increase to USD 3.08 billion by 2032, showing a substantial compound annual growth rate (CAGR) of 5.5% throughout the forecast period. The primary drivers of this revenue expansion are the growing demand for environmentally friendly materials across various industries and the increased requirement for lightweight materials in diverse applications.

TPEEs belong to the category of thermoplastic elastomers, renowned for their exceptional mechanical and physical characteristics, rendering them suitable for a wide array of industries. These materials exhibit remarkable chemical resistance, high strength, flexibility, and outstanding resilience against Ultraviolet (UV) radiation, ozone, and weathering, making them particularly well-suited for use in sectors such as automotive, electrical and electronics, medical, and more.

Furthermore, the rising interest in eco-friendly materials plays a significant role in boosting market revenue. As consumer environmental consciousness continues to rise, there is a noticeable shift towards sustainable and eco-friendly materials. TPEEs offer an attractive alternative to traditional materials as they are both recyclable and reusable.

Additionally, the increased demand for TPEEs from industries like automotive, electrical and electronics, and the medical sector is expected to be a driving force behind market revenue growth during the forecast period. In the automotive sector, these materials are utilized in the manufacturing of interior and exterior components, while in the electrical and electronics field, they find application in the production of cables, wires, and various other components.

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Strategic Developments:

·         In 2021, DSM Engineering Plastics B.V. announced a collaboration with Clariter Group, a leading company in the chemical recycling of plastics, to develop a sustainable solution for post-consumer recycled (PCR) thermoplastic polyester elastomers (TPE-E).

·         In 2020, BASF SE announced the launch of its new thermoplastic elastomer (TPE) product line, Elastollan®, which is used in a variety of applications such as automotive, consumer goods, and sports equipment.

·         In 2020, EMS-GRIVORY announced the launch of a new TPE-E product line, Grivory® HTV-6H1 black, which is used in automotive applications such as engine compartment covers, air intake manifolds, and oil filter housings.

·         In 2019, Lanxess AG expanded its portfolio of TPE-E products with the launch of the Durethan® BC 700 HTS series, which is used in applications requiring high temperature resistance and low moisture absorption.

·         In 2019, Evonik Industries AG announced the launch of a new TPE-E product line, VESTAMID® HTplus, which is used in high-temperature applications such as automotive engine components and industrial machinery.

Thermoplastic Polyester Elastomer (TPEE) Market Report Scope

Leading Key Players in the Market:

The global Thermoplastic Polyester Elastomer market is moderately consolidated, with several large and medium-sized players accounting for a significant portion of market revenue. These companies are adopting various strategies such as mergers & acquisitions, strategic agreements & contracts, developing and launching new products, and expanding their market reach through partnerships and collaborations. Some of the major companies operating in the global Thermoplastic Polyester Elastomer market are:

·         BASF SE

·         DuPont de Nemours, Inc.

·         Lanxess AG

·         EMS-GRIVORY

·         Kuraray Co., Ltd.

·         Teijin Limited

·         Arkema SA

·         UBE Industries, Ltd.

·         DSM Engineering Plastics B.V.

·         Evonik Industries AG

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