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Thermoplastic Polyamide Elastomer Market Size
Thermoplastic Polyamide Elastomer Market size is estimated to record appreciable growth between 2024 and 2032, driven by the surging demand for polyamide block copolymers worldwide. Given their lightweight, thermoplastic elastomers offer one of the best combinations of processability and performance. Other crucial properties include relatively high service temperature due to robust hydrogen bonding amid domains, resulting in improved solvent resistance, good heat aging, and low creep.
According to a report by Cox Automotive, all EVs would account for more than 10% of total vehicle sales in 2024. This will positively reflect the growth outlook of the TPE market during the forecast period. The current situation of global inflation has limited people's expenditure on leisure activities, impeding the sales of sports goods. Major end-use industries, such as automotive and wire & cable, are also dealing with high commodity prices, labor shortages, and increased raw material costs, further hampering the market revenue to some extent.
Thermoplastic Polyamide Elastomer Market Trends
The growing demand for TPE in various industries such as automotive, electronics, consumer goods, and medical devices due to its exceptional properties, including high flexibility, chemical resistance, and durability is increasing its appeal. Several manufacturers are focusing on developing biobased and sustainable materials to serve the high demand for eco-friendly products. To cite an instance, in April 2022, DowDuPont Inc. introduced ‘Dupont Liveo pharma tubing’, a TPE tubing for the biopharmaceutical sector for expanding its supply capacity of silicone elastomers and tubing as well as enhancing its single-use pharma product lines.
The rising advancements in material science and manufacturing technologies are encouraging the development of several compounds with enhanced performance characteristics. Moreover, there has been increasing adoption of TPE in 3D printing and additive manufacturing processes. The shift towards innovative and sustainable solutions driven by technological advancements and evolving consumer preferences will also positively influence the industry growth.
Thermoplastic Polyamide Elastomer Market Analysis
The polyether-amide (PEBA) product segment in the thermoplastic polyamide elastomer industry is expected to witness significant growth from 2024 to 2032. This is on account of multiple product features, such as outstanding flex fatigue and low-temperature flexibility, in addition to good resistance against chemicals, weathering, wear, and heat. Additionally, the increasing demand for lightweight and high-performance materials in industries like automotive, sports equipment, and medical devices is fueling the adoption of PEBA-based TPAE products.
The sports & leisure application segment is touted to account for a commendable share of the TPE market by 2032. This rise is credited to the multiple applications of TPE, such as in flying discs owing to the properties of flexibility, reliability, and sturdiness. TPE materials are engineered to have an excellent wet grip, further serving as an ideal product for usage in waterski clips and surf pads. These elastomers also possess outstanding springs for diving fins, propulsion, and for perfect seals in watercraft dry compartments.
North America thermoplastic polyamide elastomer market is projected to expand at notable pace from 2024 to 2032, owing to the high product demand in automotive and electronics sectors along with the escalating healthcare expenditure in the region. As per the Office for National Statistics, the healthcare spending in the U.K. was approximately £283 billion in 2022. The well-established manufacturing infrastructure and technological advancements are supporting the development and adoption of TPE materials. The increasing emphasis on sustainable and eco-friendly materials in the region is boosting the demand for biobased TPE compounds. Furthermore, the increasing investments in R&D activities to enhance properties and expand application scope will drive the regional market growth.
Thermoplastic Polyamide Elastomer Market Share
Leading players operating in the thermoplastic polyamide elastomer industry are engaging in various inorganic strategies, such as mergers & acquisitions, R&D initiatives, and collaboration with other companies to offer innovative products and services.
Some of the major TPE companies are:
- LANXESS Corporation
- Solvay S.A.
- Polyone
- LG Chem
- Evonik Industry
- BASF SA
- Arkhema
- NYCOA
- Nexeo Solutions
- RTP company
Thermoplastic Polyamide Elastomer Industry News:
- In March 2023, Arkema SA and Engie SA inked a deal for 300 GWh/year of renewable biomethane in France to lower the carbon footprint of their 3D printing materials, including bio-based high-performance Rilsan polyamide 11 and Pebax elastomers.