Market by Material Type, Industry Vertical, and Country Outlook | Forecast 2023-2030
Triton’s analysis states that the Asia-Pacific thermoplastic elastomers market is estimated to register with a CAGR of 6.46% in revenue and 2.70% in volume during the forecast period 2023-2030.
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The
countries examined in the studied region include:
•
China
•
Japan
•
South Korea
•
India
•
Australia
•
ASEAN Countries
•
Rest of Asia-Pacific
The Asia-Pacific region is
expected to grow significantly due to the increasing demand for construction
materials. This surge in infrastructure development coincides with a rapid
increase in urbanization, spurring a greater need for affordable housing and commercial
properties. In this regard, rapid urbanization is anticipated to surge TPE
demand in the coming years. Moreover, the region has witnessed an increased
demand for styrene-butadiene, primarily driven by the booming packaging sector.
Hence, such industrial developments open significant opportunities for the
Asia-Pacific thermoplastic elastomers market.
China
captures the highest share of the studied market. The nation’s TPE market comprises numerous
local small-to-medium-sized players, with several Tier 1 players acquiring or
partnering with local rubber manufacturers. Despite China’s status as the
world’s largest consumer of TPE, its vehicles per capita remain comparatively
low compared to many other nations. This lower ratio can be attributed to
various factors, including the rising labor cost. Nevertheless, the growing
global demand for tires has prompted Chinese manufacturers to produce
environmentally friendly tires, elevating the demand for thermoplastic
elastomers. This, in turn, supports the reviewed market’s expansion to a large
extent.
Japan, the world’s third-largest economy, has emerged as a prominent
player in the global automotive industry. This is owing to substantial
investments in automotive research and development, benefitting the studied
market. Japan is progressively embracing energy-efficient vehicles to enhance
cost-effectiveness and explore future technologies. However, domestic tire demand
in Japan remains modest, resulting in a slower thermoplastic elastomers market
growth compared to other Asian nations.
Thermoplastic elastomers (TPEs) are advanced materials progressively
replacing conventional plastics and traditional elastomers due to their
exceptional performance. TPEs are at the forefront of material development,
offering extensive opportunities to combine elastic and thermoplastic
properties. Approximately 40% of global TPE consumption is in the automotive
sector, primarily utilized in belts, hoses, bellows, gaskets, sound insulation,
flooring, and instrument panel coverings.
The
market growth is assessed in terms of industry vertical and material type. Based on industry vertical, it is sectioned into automotive, medical,
building & construction, consumer goods, electrical & electronics,
industrial, and other industry verticals.
The
renowned companies in the market consist of Dynasol Group, Asahi Kasei
Corporation, Arkema SA, BASF SE, Covestro AG, and The Dow Chemical Company.
Asahi Kasei Corporation is primarily involved in various industries, including chemicals, fibers, housing, construction materials, electronics, and healthcare. Its product portfolio encompasses a wide range, including acrylonitrile, polymers, styrene, foam insulation panels, diagnostic reagents, foundation systems, adipic acid, polystyrene, membrane filtration systems, functional additives, ion-exchange membranes, and medical devices. These products are offered under brands such as Roica, Bemberg, Eltas, Lamous, and Bemliese. Asahi Kasei operates in multiple regions, headquartered in Tokyo, Japan.
Key
deliverables of the report:
â—Ź
Market CAGR during the forecasting years 2023-2030
â—Ź
Detailed data highlighting key insights, industry components, and
market strategies
â—Ź
Comprehensive information and estimation of the thermoplastic
elastomers market revenue growth in the Asia-Pacific and its influence on the
parent market
â—Ź
In-depth study of forthcoming trends in consumer behavioral
patterns
â—Ź
A meticulous analysis of the competitive landscape, vendor
scorecard, and Porter’s Five Forces
â—Ź
A wide-ranging study of factors that will challenge the APAC
thermoplastic elastomers market’s growth during the upcoming years
Want to get specific insights? Our team of
analysts can customize this report based on your preferences. Connect with us here.
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VIEW REPORT1. ASIA-PACIFIC
THERMOPLASTIC ELASTOMERS MARKET - SUMMARY
2. INDUSTRY
OUTLOOK
2.1. PARENT
MARKET ANALYSIS
2.2. IMPACT
ANALYSIS ON THE THERMOPLASTIC ELASTOMERS MARKET
2.2.1. COVID-19
IMPACT
2.2.2. IMPACT
OF RUSSIA-UKRAINE WAR
2.3. PORTER’S
FIVE FORCES ANALYSIS
2.3.1. THREAT
OF NEW ENTRANTS
2.3.2. THREAT
OF SUBSTITUTES
2.3.3. BARGAINING
POWER OF BUYERS
2.3.4. BARGAINING
POWER OF SUPPLIERS
2.3.5. THREAT
OF COMPETITIVE RIVALRY
2.4. MARKET
MATURITY ANALYSIS
2.5. INDUSTRY
COMPONENTS
2.5.1. RAW
MATERIALS MANUFACTURER
2.5.2. POLYMER
COMPOUNDING
2.5.3. END-USER
2.6. REGULATORY
FRAMEWORK
2.7. KEY
MARKET STRATEGIES
2.7.1. COLLABORATIONS
2.7.2. PRODUCT
LAUNCHES
2.7.3. MERGERS
& ACQUISITIONS
2.7.4. BUSINESS
DIVESTITURES & EXPANSIONS
2.8. MARKET
DRIVERS
2.8.1. APPLICATION
OF THERMOPLASTIC ELASTOMER AS A SUBSTITUTE FOR THERMOSET ELASTOMER
2.8.2. INTRODUCTION
OF 3D PRINTING TECHNOLOGY
2.8.3. GROWING
DEMAND IN THE AUTOMOTIVE SECTOR
2.9. MARKET
CHALLENGES
2.9.1. REDUCED
VOLUME CONSUMPTION DUE TO THE LIGHTWEIGHT AND MINIATURIZATION TRENDS
2.9.2. PRICE
FLUCTUATIONS IN RAW MATERIALS
2.10. MARKET
OPPORTUNITIES
2.10.1. LIGHTWEIGHT
MATERIALS SUPPORT PRODUCT WEIGHT REDUCTION
2.10.2. GROWING
USE OF THERMOPLASTIC ELASTOMERS IN RECYCLABILITY IMPROVEMENT PROJECTS
2.10.3. THERMOPLASTIC
ELASTOMERS SUPPORT IN CO2 EMISSION REDUCTION
2.11. ANALYST
PERSPECTIVE
3. ASIA-PACIFIC
THERMOPLASTIC ELASTOMERS MARKET – BY MATERIAL TYPE
3.1. POLYSTYRENE
3.2. POLYAMIDE
3.3. POLYOLEFIN
3.4. POLYURETHANE
3.5. ELASTOMERIC
ALLOY
3.6. OTHER
MATERIAL TYPES
4. ASIA-PACIFIC
THERMOPLASTIC ELASTOMERS MARKET – BY INDUSTRY VERTICAL
4.1. MEDICAL
4.2. BUILDING
& CONSTRUCTION
4.3. INDUSTRIAL
4.4. CONSUMER
GOODS
4.5. ELECTRICAL
& ELECTRONICS
4.6. AUTOMOTIVE
4.7. OTHER
INDUSTRY VERTICALS
5. ASIA-PACIFIC
THERMOPLASTIC ELASTOMERS MARKET – BY COUNTRY OUTLOOK
5.1. CHINA
5.1.1. CHINA
THERMOPLASTIC ELASTOMERS MARKET FORECAST & PROSPECTS
5.2. JAPAN
5.2.1. JAPAN
THERMOPLASTIC ELASTOMERS MARKET FORECAST & PROSPECTS
5.3. INDIA
5.3.1. INDIA
THERMOPLASTIC ELASTOMERS MARKET FORECAST & PROSPECTS
5.4. SOUTH
KOREA
5.4.1. SOUTH
KOREA THERMOPLASTIC ELASTOMERS MARKET FORECAST & PROSPECTS
5.5. ASEAN
COUNTRIES
5.5.1. ASEAN
COUNTRIES THERMOPLASTIC ELASTOMERS MARKET FORECAST & PROSPECTS
5.6. AUSTRALIA
& NEW ZEALAND
5.6.1. AUSTRALIA
& NEW ZEALAND THERMOPLASTIC ELASTOMERS MARKET FORECAST & PROSPECTS
5.7. REST
OF ASIA-PACIFIC
5.7.1. REST
OF ASIA-PACIFIC THERMOPLASTIC ELASTOMERS MARKET FORECAST & PROSPECTS
6. COMPETITIVE
LANDSCAPE
6.1. ARKEMA
SA
6.1.1. OVERVIEW
6.1.2. PRODUCT
PORTFOLIO
6.1.3. KEY
STRENGTHS
6.1.4. KEY
CHALLENGES
6.2. BASF
SE
6.2.1. OVERVIEW
6.2.2. PRODUCT
PORTFOLIO
6.2.3. KEY
STRENGTHS
6.2.4. KEY
CHALLENGES
6.3. ASAHI
KASEI CORPORATION
6.3.1. OVERVIEW
6.3.2. PRODUCT
PORTFOLIO
6.3.3. KEY
STRENGTHS
6.3.4. KEY
CHALLENGES
6.4. COVESTRO
AG
6.4.1. OVERVIEW
6.4.2. PRODUCT
PORTFOLIO
6.4.3. KEY
STRENGTHS
6.4.4. KEY
CHALLENGES
6.5. DYNASOL
GROUP
6.5.1. OVERVIEW
6.5.2. PRODUCT
PORTFOLIO
6.5.3. KEY
STRENGTHS
6.5.4. KEY
CHALLENGES
6.6. THE
DOW CHEMICAL COMPANY
6.6.1. OVERVIEW
6.6.2. PRODUCT
PORTFOLIO
6.6.3. KEY
STRENGTHS
6.6.4. KEY
CHALLENGES
6.7. EVONIK
INDUSTRIES AG
6.7.1. OVERVIEW
6.7.2. PRODUCT
PORTFOLIO
6.7.3. KEY
STRENGTHS
6.7.4. KEY
CHALLENGES
6.8. LG
CHEM LTD
6.8.1. OVERVIEW
6.8.2. PRODUCT
PORTFOLIO
6.8.3. KEY
STRENGTHS
6.8.4. KEY
CHALLENGES
6.9. LUBRIZOL
CORPORATION
6.9.1. OVERVIEW
6.9.2. PRODUCT
PORTFOLIO
6.9.3. KEY
STRENGTHS
6.9.4. KEY
CHALLENGES
6.10. KRATON
CORPORATION
6.10.1. OVERVIEW
6.10.2. PRODUCT
PORTFOLIO
6.10.3. KEY
STRENGTHS
6.10.4. KEY
CHALLENGES
7. RESEARCH
METHODOLOGY & SCOPE
7.1. RESEARCH
SCOPE & DELIVERABLES
7.2. SOURCES
OF DATA
7.3. RESEARCH
METHODOLOGY
TABLE
1: ASIA-PACIFIC THERMOPLASTIC ELASTOMERS MARKET, BY COUNTRY OUTLOOK, 2023-2030
(IN $ MILLION)
TABLE
2: ASIA-PACIFIC THERMOPLASTIC ELASTOMERS MARKET, BY COUNTRY OUTLOOK, 2023-2030
(IN KILOTON)
TABLE
3: REGULATORY FRAMEWORK
TABLE
4: LIST OF COLLABORATIONS
TABLE
5: LIST OF PRODUCT LAUNCHES
TABLE
6: LIST OF MERGERS & ACQUISITIONS
TABLE
7: LIST OF BUSINESS DIVESTITURES & EXPANSIONS
TABLE
8: ASIA-PACIFIC THERMOPLASTIC ELASTOMERS MARKET, BY MATERIAL TYPE, 2023-2030
(IN $ MILLION)
TABLE
9: ASIA-PACIFIC THERMOPLASTIC ELASTOMERS MARKET, BY INDUSTRY VERTICAL,
2023-2030 (IN $ MILLION)
TABLE
10: ASIA-PACIFIC THERMOPLASTIC ELASTOMERS MARKET, BY COUNTRY OUTLOOK, 2023-2030
(IN $ MILLION)
TABLE
11: ASIA-PACIFIC THERMOPLASTIC ELASTOMERS MARKET, BY COUNTRY OUTLOOK, 2023-2030
(IN KILOTON)
FIGURE 1: INDUSTRY COMPONENTS
FIGURE 2: ASIA-PACIFIC THERMOPLASTIC ELASTOMERS
MARKET, BY MATERIAL TYPE, 2022 & 2030 (IN %)
FIGURE 3: ASIA-PACIFIC THERMOPLASTIC ELASTOMERS MARKET,
BY POLYSTYRENE, 2023-2030 (IN $ MILLION)
FIGURE 4: ASIA-PACIFIC THERMOPLASTIC ELASTOMERS
MARKET, BY POLYAMIDE, 2023-2030 (IN $ MILLION)
FIGURE 5: ASIA-PACIFIC THERMOPLASTIC ELASTOMERS
MARKET, BY POLYOLEFIN, 2023-2030 (IN $ MILLION)
FIGURE 6: ASIA-PACIFIC THERMOPLASTIC ELASTOMERS
MARKET, BY POLYURETHANE, 2023-2030 (IN $ MILLION)
FIGURE 7: ASIA-PACIFIC THERMOPLASTIC ELASTOMERS
MARKET, BY ELASTOMERIC ALLOY, 2023-2030 (IN $ MILLION)
FIGURE 8: ASIA-PACIFIC THERMOPLASTIC ELASTOMERS
MARKET, BY OTHER MATERIAL TYPES, 2023-2030 (IN $ MILLION)
FIGURE 9: ASIA-PACIFIC THERMOPLASTIC ELASTOMERS
MARKET, BY INDUSTRY VERTICAL, 2022 & 2030 (IN %)
FIGURE 10: ASIA-PACIFIC THERMOPLASTIC ELASTOMERS
MARKET, BY MEDICAL, 2023-2030 (IN $ MILLION)
FIGURE 11: ASIA-PACIFIC THERMOPLASTIC ELASTOMERS
MARKET, BY BUILDING & CONSTRUCTION, 2023-2030 (IN $ MILLION)
FIGURE 12: ASIA-PACIFIC THERMOPLASTIC ELASTOMERS
MARKET, BY INDUSTRIAL, 2023-2030 (IN $ MILLION)
FIGURE 13: ASIA-PACIFIC THERMOPLASTIC ELASTOMERS
MARKET, BY CONSUMER GOODS, 2023-2030 (IN $ MILLION)
FIGURE 14: ASIA-PACIFIC THERMOPLASTIC ELASTOMERS
MARKET, BY ELECTRICAL & ELECTRONICS, 2023-2030 (IN $ MILLION)
FIGURE 15: ASIA-PACIFIC THERMOPLASTIC ELASTOMERS
MARKET, BY AUTOMOTIVE, 2023-2030 (IN $ MILLION)
FIGURE 16: ASIA-PACIFIC THERMOPLASTIC ELASTOMERS
MARKET, BY OTHER INDUSTRY VERTICALS, 2023-2030 (IN $ MILLION)
FIGURE 17: ASIA-PACIFIC THERMOPLASTIC ELASTOMERS
MARKET, BY COUNTRY OUTLOOK, 2022 & 2030 (IN %)
FIGURE 18: CHINA THERMOPLASTIC ELASTOMERS MARKET
2023-2030 (IN $ MILLION)
FIGURE 19: JAPAN THERMOPLASTIC ELASTOMERS MARKET
2023-2030 (IN $ MILLION)
FIGURE 20: INDIA THERMOPLASTIC ELASTOMERS MARKET
2023-2030 (IN $ MILLION)
FIGURE 21: SOUTH KOREA THERMOPLASTIC ELASTOMERS
MARKET 2023-2030 (IN $ MILLION)
FIGURE 22: ASEAN COUNTRIES THERMOPLASTIC ELASTOMERS
MARKET 2023-2030 (IN $ MILLION)
FIGURE 23: AUSTRALIA & NEW ZEALAND THERMOPLASTIC
ELASTOMERS MARKET 2023-2030 (IN $ MILLION)
FIGURE 24: REST OF ASIA-PACIFIC THERMOPLASTIC
ELASTOMERS MARKET 2023-2030 (IN $ MILLION)