Thermoplastic elastomers come with physical properties that belong toboth rubber and thermoplastics, thereby making them flexible and soft.Thermoplastic elastomers are treated with the techniques of generalthermoplastic, for instance blow molding, injection molding, and extrusion.Thermoplastic elastomers are converted into plastics when it is exposed to heatand becomes elastic when it cools down.
The key end use industries for thermoplastic elastomers are consumerelectronics, medical and food, consumer goods, construction, and automotive.One of the key factors working in favor of the global thermoplastic elastomers market isits increased use in the automotive industry.
E.I. du Pont de Nemours and Company, KRATON Corporation, Exxon MobilCorporation, Celenese Corporation, BASF SE, and Arkema Group are some names toreckon with in the global thermoplastic elastomers market.
Asia Pacific to Gain Prominence Due to High Demandfrom End Use Industries
Considering the segmentation based on regions, the global thermoplasticelastomers market is split into the key regions of Asia Pacific, Middle Eastand Africa, Europe, Latin America, and North America. These regionalclassifications are likely to provide a glimpse of the local market at a microlevel.
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Asia Pacific is estimated to be one of the leading regions in the globalthermoplastic elastomers market over the assessment tenure. High demands fromvarious end use industries like footwear industries, building and construction,and automotive is likely to encourage growth of the global thermoplastic elastomersmarket. India and China are two significant regions for the Asia Pacificthermoplastic elastomers market that contribute substantially for the growth ofthe market in forthcoming years.
Increased Demand for Automotive Industry to PropelGrowth of the Market
The global thermoplastic elastomers market is estimated to ride high onthe ability of the product to be customized as per the specific needs of eachmedical application. Medical devices are often exposed to a wide range offluids and liquids that lessen effectiveness of this type of devices. In aneffort to avert this, manufacturers of medical equipment opt for use ofthermoplastic elastomer materials over other materials such as phthalate, PVC,and latex-based materials. Thermoplastic elastomers are highly resistant tovarious chemicals, which escalates their increased uptake. Suchpreferences open up new opportunities of growth for the global thermoplasticelastomers market during the period of review, 2018 to 2026.
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In addition, thermoplastic elastomers find use in prosthetic cushions,caps, seals, tubing, closures, anti-slip surfaces or handles, dental andmedical hoods, caps, and many more. Such wide application of thermoplasticelastomers is likely to offer copious growth opportunities for the globalthermoplastic elastomers market in forthcoming years.
In addition, automotive industry is estimated to generate considerableopportunity for the expansion of the global thermoplastic elastomers market inyears to come. Owing to its versatility, ease of processing, and lightweightproperties make it suitable for use in the automotive industry.
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