Thermoplastic Polyester Elastomer Market Size
Time of issue:2020-06-17 09:19
source:
author:
Industry Insights
The global thermoplastic polyester elastomer market size was estimated at USD 845.2 million in 2016. Rising substitution of thermosets and other conventionally heavy materials such as metals and wood is expected to remain a key driving factor for the industry over the forecast period.
The industry has remained a relatively niche segment in the global thermoplastic elastomers market, on account of low manufacturer & consumer awareness and the vast platform of homopolymers and copolyester types included under the overall umbrella of TPEs. However, these small family of high-performance plastics are rapidly gaining attention in the industry owing to good dimensional stability, and high stiffness among other properties.
U.S. TPEE market revenue by end-use, 2014 - 2025 (USD Million)
However, the ability of all TPEs to process in a manner similar to thermoplastics and imitate the texture & performance of thermoset rubbers has made them ace demanding application trials over the last decade. Thermoplastic polyester elastomer (TPEE) products are also gaining favor on account of their faster processing & lower scrap or wastage rates.
Numerous automobile manufacturers are integrating these materials into high-performance components, such as the recently developed DuPont Hytrel which can flex in multiple directions through several cyclic processes. The product is currently utilized in the Constant Velocity Joint (CVJ) boot, an automotive component that is subject to an average of 150,000 miles of pounding, and a wide range of temperatures.
Engineering applications necessitate a fine equilibrium between performance & cost. Mechanical, electrical, thermal, and other physical properties determine the selection of polymers, which is either polybutylene terephthalate (PBT) or polyethylene terephthalate(PET).
PBT elastomers are particularly well-suited to injection molding, and consequently the process is responsible for a majority of its consumption. TPEE is also consumed in extrusion processes, typically for cable & wire or fiber optics. PET similarly possesses excellent color stability, creep even at elevated temperatures and wear properties.
Around 90% of resins are compounded with reinforcements, fillers, and other additives. This blurs the distinction between base resin properties of each polymer, yet the process is also responsible for technological developments in FDA-acceptable and flame-retardant blends. Novel alloys combining the properties of polyesters with polycarbonates have also been developed and may witness widespread commercialization over the forecast period.
Regulatory agencies play a crucial role in formulating processing guidelines, standardizing reins properties & quality and ensuring consumer safety among other factors. Bodies such as the U.S. Environmental Protection Agency, U.S. Food & Drug Administration, National Sanitation Foundation, Underwriter’s Laboratory and others are a few associations responsible for regulating & standardizing such products, while also controlling pollution and emission levels.
End-use Insights
TPEE usage in automotive applications has increased exponentially as a result of high usage of electronic & electrical devices such as electric motors housings for seating & windows, passenger airbags, safety belt tensioners and more. Newly developed grades with enhanced hydrolytic stability are also finding application in under-the-hood components.
Other automotive applications such as connectors, plugs, and housing components that must endure increasingly stressful demands of the industry are also being molded. Polyester resins have benefited from improvements in mold design, better understanding of flow behavior in molds, increased robotics, and increased computer simulation, which have improved the efficiency and economics of the production of large, molded parts.
TPEE market volume by end-use, 2016 (%)
Regional Insights
China, India and Southeast Asia are expected to be the primary growth markets in Asia Pacific. Growing manufacturing sector shall drive TPEE compounds demand in automotive, industrial machinery, packaging and electrical & electronics industries. Asia Pacific occupied largest share of over 30% volume in 2016 and the thermoplastic polyester elastomer market is steadily growing at over 5.7% CAGR.
Europe is anticipated to remain an important market, with over 24% of the revenue share in 2016. Though the region’s growth is likely to be restrained due to various macro-environmental factors such as debt crisis, rising unemployment and stalled industrial output, an optimistic scenario across Eastern Europe for manufacturing and consumerism shall drive its growth. The region is characterized by stringent environmental regulations from agencies such as ECHA, European Commission and various federal level agencies.
North America is also likely to remain a key player numerous automobile manufacturers preferring plastic vehicle parts, which help the company to achieve low-cost production, and increase their bottom line. The region is a slow-growing market owing to saturation of end-use industries and relatively lower customer base as compared to Asia Pacific.
Other emerging economies such as Central & South America (CSA) and Middle East & Africa (MEA) are also growing at high rates similar to Asia Pacific; these regions benefit from expanding end-use industries and relatively low penetration of thermoplastic compounds as compared to other regions.
DOWREN NEW MATERIAL (HENAN) CO.,LTD
TELL:Selina.Liu +86-0393-8993626 / +86 18137458807
ADD:150 meters north of the intersection of Zhongyuan Road and Pushang Road, Puyang City,Henan Province
EMAIL:dowren@dowren.com
Wechat ID