The global thermoplastic polyamide elastomers market wasvalued at US$ 1,535.18 Mn in 2018 and is anticipated to expand at a CAGR of5.8% from 2019 to 2027, according to a new research report titled‘Thermoplastic Polyamide Elastomers Market: Global Industry Analysis,Size, Share, Growth, Trends, and Forecast, 2019–2027’’ published byTransparency Market Research (TMR) . Rise in demand for thermoplastic polyamideelastomers in the manufacture of winter sports accessories is fueling themarket. North America accounts for major share of the global thermoplasticpolyamide elastomers market, led by the increase in usage of these elastomersin the consumer goods industry in the region.
Increase in Awareness about Health Benefits ofSports & Fitness Activities
Consumers are becoming increasingly aware about the benefits of fitness.This is apparent from the rise in number of health care and fitness centersacross the globe. Consumers’ preference for high quality athletic footwear isanticipated to fuel the demand for thermoplastic polyamide elastomers.Technological advancement in the athletic footwear industry allowsmanufacturers to produce footwear that is light in weight, durable,fashionable, and comfortable. Various manufacturers are striving to designfootwear with high energy returns. Growth in demand for running shoes, cleatedshoes, and ski boots is anticipated to drive the demand for thermoplasticpolyamide elastomers in the near future. Added toughness and flexibility ofthermoplastic polyamide elastomers makes them ideal for usage in applicationssuch as running and cleated shoes. Customers’ preference for branded footwearis encouraging major athletic footwear manufacturers to incorporate morefeatures that provide high energy return and durability. This, in turn, isprojected to augment the demand for advanced thermoplastic elastomers such asthermoplastic polyamide elastomers.
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Increase in Demand for Thermoplastic PolyamideElastomers in Medical Industry
Thermoplastic polyamide elastomers offer benefits across various aspectsof medical device design and manufacturing. Superior properties ofthermoplastic polyamide elastomers such as high sterilization resistance, easyblending with other polymers, high torque transference, impact resistance, andresistance to harsh chemicals are fuelling the demand for thermoplasticpolyamide elastomers in the medical industry. Demand for thermoplasticpolyamide elastomers has been rising in applications such as tubing, catheters,grips, seals, vial closures, drug delivery or monitoring patches, andconnectors. Governing bodies across the globe are focusing on enacting stricterregulations on the consumption of plastics owing to the health concerns.Thermoplastic polyamide elastomers are recyclable and do not pose much threatto the environment. Advancements in medical science and technology areanticipated to propel the demand for thermoplastic polyamide elastomers duringthe forecast period. Thermoplastic polyamide elastomers enable moldingtechnologies on a range of substrates. This may not be feasible withconventional elastomers. Design flexibility of thermoplastic polyamideelastomers helps manufacturers achieve device miniaturization and improvedapplicability. Emerging applications of thermoplastic polyamide elastomers influid delivery systems, including dynamic-seal gaskets and static sealstoppers, are anticipated to offer lucrative opportunities for thethermoplastic polyamide elastomers in the near future.
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High Focus on Consumer Goods Industry
Increase in sales of products, such as apparel and accessories,including variety of sports gear and equipment, especially in developedregions, is expected to boost the demand for thermoplastic polyamideelastomers. Sports accessories such as running shoe components, cleated shoecomponents, equipment components, apparel, and ski boots require advancedmaterials that offer high energy return and durability. This has encouragedmajor manufacturers operating in the sportswear industry to opt for thermoplasticpolyamide elastomers as key materials in the manufacture of sports accessories.Thermoplastic polyamide elastomers are also employed in home appliance tubingand components applications.
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North America Dominates Global ThermoplasticPolyamide Elastomers Market
In terms of demand, North America is estimated to account for dominantshare of the global thermoplastic polyamide elastomers during the forecastperiod. Prominent presence of manufacturers of athletic footwear such as Nike,New Balance, Skechers, and Reebok is the major factor driving the demand forthermoplastic polyamide elastomers in North America. High penetration of theathletic footwear industry in the U.S. can be ascribed to the increase inparticipation of public in fitness activities such as running, hiking,trailing, and aerobics. Rise in investment in sports infrastructure is alsolikely to trigger the demand for thermoplastic polyamide elastomers in NorthAmerica.
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Moderate to High Degree of Competition amongEstablished Players
The global thermoplastic polyamide elastomers market is moderatelyfragmented. Therefore, moderate to high competition exists among leadingproducers of thermoplastic elastomers. Major players operating in the globalthermoplastic polyamide elastomers market adopt various strategies such asmergers, acquisitions, partnerships, and product launches in order tostrengthen their position. Global manufacturers are focusing on expanding theirproduct portfolios through research and development activities. Suppliers of thermoplasticpolyamide elastomers focus on forward integration in order to achieve productdifferentiation. Key players profiled in the report on the global thermoplasticpolyamide elastomers include Arkema S.A, Evonik Industries AG, BASF SE,PolyOne, SABIC, LG Chem Ltd, UBE INDUSTRIES,LTD, EMS-CHEMIE HOLDING AG, RTPCompany, Inc, KRAIBURG, and Kuraray America, Inc.
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