Global TPE market growing 8%, set to reach $24bn
ERJ staff report (PR)
Dallas, Texas – The global market for thermoplastic elastomers (TPEs) is on track to be worth $23.9 billion (€17.6 billion) by 2018, according to a report highlighted by RnR Market Research. This represents a compound annual growth rate (CAGR) of 8.1 percent, from $15.1 billion in 2012.
The European market is expected to grow at a rate of 6.7 percent in revenue terms and 5.1 percent in consumption terms from 2013 to 2018, found the report titled “Thermoplastic Elastomers Market By Types (SBC, TPO, TPV, TPU, COPE, PEBA), Applications & Geography – Trends & Forecasts To 2018”.
However, the Asia Pacific region dominates the global thermoplastic elastomer market, having accounted for 42.4 percent of the global thermoplastic elastomer revenue in 2012, said the Dallas-based market research supplier. The region, it added, is expected to have the highest market revenue in 2018, followed by the North American market.
ROW, a collection of individual country markets, is expected to be the fastest growing market in the future, growing at a CAGR of 10.1 percent from 2013 to 2018, owing to rising consumption in this region where the end-user markets of TPEs are growing steadily.