- In 2017, Mitsubishi Chemical Corporation developed a new grade of thermoplastic copolyester elastomer (TPC) known as TEFABLOC™, providing scratch and oil resistance. The company also begun production of styrenic thermoplastic elastomer (TPS) at Mitsubishi Chemical Performance Polymers (Thailand) Co., Ltd in 2018.
- Kidman Resources has signed an agreement with LG Chem Ltd. to supply lithium hydroxide. Kidman will supply 12,000 tons of lithium hydroxide a year to various chemicals companies for 10 years.
- DowDuPont Transportation & Advanced Polymers is planning to increase production capacity at Shenzhen site. DowDuPont Specialty Products Division is also likely to invest nearly $42 million to install three new production lines, expected to be operational by the end of 2019.
- LG Chem is planning to build a new facility for electric vehicle battery in Nanjing in China by 2020. The company also plans to invest around 2 trillion South Korean won on second car battery plant in China with production likely to begin in 2019.
The report provides detailed profiles of the key players in the thermoplastic copolyester elastomers market.
Thorough research has been conducted on the leading players including DowDuPont Inc., Celanese Corporation, DSM Engineering Plastics, Toyobo, Teijin Industries, DIC Corporation, Mitsubishi Chemicals, Tosoh Corporation, Samyang Corporation, LG Chem. Ltd., Chang-Chung Group, SK Chemicals, and Shinkong Group.
Top 5 Players Account for Over 50% Share in Thermoplastic Copolyester Elastomers Market
Top players in the thermoplastic copolyester elastomers market are focusing on product differentiation and expanding production capacity. The leading players continue to focus on strengthening their position in Asia Pacific, based on the growing demand for fuel-efficient and lightweight vehicles.
The intense competition among the key players in thermoplastic copolyester elastomers market is resulting in value added product offering with increased investment in the research and development activities. DSM, DuPont, Shinkong, and Chang-Chung Group are among the leading players in thermoplastic copolyester elastomers market.
Increasing Application of Thermoplastic Copolyester Elastomers in Automotive Industry Creating Sustained Opportunities
Usage of thermoplastic copolyester elastomers is growing in the automotive industry, owing to their superior physical and chemical properties. The automotive industry is using thermoplastic copolyester elastomers on a large scale to manufacture automotive parts where resistance to chemical, heat and oil is required.
Thermoplastic copolyester elastomers are finding significant applications in automotive hot charge air ducts in advanced petrol and diesel engines that need to withstand high temperatures for a very long period. Further, Constant Velocity Joint (CVJ) boots are being produced on a large scale using thermoplastic copolyester elastomers as it is subject to wide range of temperatures.
Several regulatory bodies have introduced emission standards that are accelerating the usage of low-weight material to increase fuel efficiency and high-performance in the automotive industry. This, in turn, is driving the demand for thermoplastic copolyester elastomers.
Copolyester Thermoplastic Elastomers (COPE) provide flexibility at a lower temperature, eliminating the chances of a splinter in automobile airbags. Growing emphasis on safety norms and mandates on airbags as a safety accessory are creating opportunities for stakeholders in the thermoplastic copolyester elastomers market.
The future of thermoplastic copolyester elastomers market is likely to be closely aligned with the broader trends in the automotive industry. The last couple of years have been positive for the automotive industry, with resurgence in the US well-complemented by steady sales in China and India.
Thermoplastic Elastomers (TPE) Emerging as a Feasible Alternative in Healthcare Sector
Healthcare sector is moving away from polyvinyl chloride (PVC) and silicone rubber owing to mounting environmental and health concerns. Thermoplastic elastomers are emerging as a more sustainable alternative to thermoset rubber owing to their recyclability and cost-efficiency.
TPEs are rapidly replacing rubber and PVC in medical devices as they are non-allergenic, thereby, eliminating concerns for individuals with latex sensitivity. These factors are fuelling adoption of TPEs in dental, surgical, and medical applications.
With technological advancements, TPEs have gained increased acceptance and improved performance in the medical sector.
Overmolding, along with other technological advances, is creating opportunities for thermoplastic elastomers in healthcare applications including syringe plungers, orthopedics, face masks, needle shields, breathable bags, and other home-use medical devices.
Additionally, thermoplastic copolyester elastomers (TPC) have resistance to oil and chemicals, this has increased its utility in various industries including the medical sector. This is leading to the drastic shift towards replacing PVC with thermoplastic copolyester elastomers.
Meanwhile, ongoing research and development on thermoplastic copolyester elastomers in the medical sector is likely to open avenues for TPC.
Avail customized purchase options for your needs
Fluctuation in Raw Material Prices Remains a Longstanding Challenge
Volatility in raw material prices is likely to adversely affect the thermoplastic copolyester elastomers market in the future.
This is likely to make it difficult for manufacturers to maintain regular supply for use in various industries. Fluctuating price structure of crude oil is directly impacting the overall production cost of the thermoplastic copolyester elastomers.
Variation in the exchange rate of key producers and exporters dealing in thermoplastic copolyester elastomers is also significantly impacting the development of the product. Rising crude oil prices are also likely to increase petrochemical costs along with the market price for plastic and other downstream chemicals.
Product commoditization is also another major challenge in thermoplastic copolyester elastomers market. Commoditization of thermoplastic elastomer is escalating price competition among the market players, resulting in a decline in the profits.
Moreover, the price pressure is likely to worsen in coming years owing to the rising preference for establishing global supplier relationship by end users. This will provide end use industries with better bargaining power.
The thermoplastic copolyester elastomers, also known as TPCs and COPE, are a type of thermoplastic elastomers. Thermoplastic copolyester elastomers are used in modifying the properties of rigid thermoplastics.
These elastomers consist of polymers that are cross-linked materials made of elastomers and thermoplastic. Thermoplastic copolyester elastomers are replacing other materials such as general rubbers and metals in various industries.
An Adaptive Approach to Modern-day Research Needs
About the Report
The report on the thermoplastic copolyester elastomers market offers actionable and valuable insights on the market along with the historical data and forecast. The report also covers important factors impacting the growth of the thermoplastic copolyester elastomers market.
Market dynamics including drivers, key trends, growth opportunities, and challenges are also highlighted in the report on thermoplastic copolyester elastomers market.
The market overview is also provided on the thermoplastic copolyester elastomers market from the perspective of key regions and countries. The study also includes details on the key players in the thermoplastic copolyester elastomers market.
The report offers a segment-wise analysis of the thermoplastic copolyester elastomers market to identify growth opportunities across various regions.
The report on the thermoplastic copolyester elastomers market is segmented on the basis of the application. This segment is further divided into sub-segments to provide a better understanding of the market.
On the basis of the application, the market is segmented into Automotive Air Ducts, CVJ Boots, Medical, Electrical (wires & cables), Consumer goods, Industrial, and Other application.
Interested to Procure The Data
Additional Questions Answered
Along with the key insights on the thermoplastic copolyester elastomers market, the report also provides answers to some important questions.
- Which region is likely to account for the highest market share in thermoplastic copolyester elastomers market?
- What will be the revenue share of automotive air ducts in the thermoplastic copolyester elastomers market?
- What factors are expected to impact the growth in the thermoplastic copolyester elastomers market?
- What will be the market share of the medical sector in thermoplastic copolyester elastomers market?
The report on the thermoplastic copolyester elastomers market is based on the extensive research methodology to offer insights and forecast on the market.
Analysts employ both primary as well as secondary research methodologies to provide details on the market size along with the competitive landscape in the thermoplastic copolyester elastomers market.
The bottom-up and top-down approaches were also used to obtain information on the thermoplastic copolyester elastomers market. The interviews were also conducted with industry experts and various market participants including service providers, vendors, and distributors.
The information collected on the market through various data sources is also cross-checked and verified through valid data sources. Future prospects in the market are also discussed in the report to help leading players in thermoplastic copolyester elastomers market plan growth strategies.
Need an Exclusive Report for your Unique Requirement?
- Related Reports -
- Our Clients -
- Evaluate How Fact.MR's Report Can Help. -
Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.