Global Thermoplastic Elastomers (TPE) Market Report 2022: Recovery of Automotive Industry and Growing Penetration of EVs Driving Growth - ResearchAndMarkets.com
The global thermoplastic elastomers market is estimated to be USD 24.7 billion in 2022 and is projected to reach USD 33.9 billion by 2027, at a CAGR of 6.5%.
- The global thermoplastic elastomers market is estimated to be USD 24.7 billion in 2022 and is projected to reach USD 33.9 billion by 2027, at a CAGR of 6.5%.
- Thermoplastic elastomers provide the characteristics of both plastics and elastomers.
- The eco-friendly property of thermoplastic elastomers, increasing demand from automotive industry, and the advance development in the thermoplastic elastomer processing industry to boost the demand of thermoplastic elastomers in forecast period.
- The rising trend of electric vehicles and economic growth of in countries such as China and India are the key factors driving the growth of the thermoplastic elastomers market in Asia-Pacific region.