Abstract
Global demand to rise 5.9% annually through 2013
World demand for thermoplastic elastomers (TPEs) is forecast to rise 5.9
percent per year through 2013 to 4.75 million metric tons. Value gains will
expand 6.6 percent per year over the same period. Gains will be exaggerated to
some extent by the fact that growth will be arising from a weak
recession-plagued 2008. Growth prospects through 2013 will be very strong in
the BRIC nations of Brazil, Russia, India and China. Some developed nations
such as Canada will see strong growth in their TPE sectors due to a healthy
projected recovery in their respective motor vehicle industries from heavy
declines experienced during 2008. Growth in the US, Japan and Western Europe
will lag the global average through 2013.
China to expand share of global TPE market
China will expand its share of the world TPE market from 32 percent in 2008 to
36 percent in 2013. In the largest volume styrenic block copolymer (SBC)
product segment, China will see an increase in its share of world demand to 47
percent in 2013, indicative of the country' s dominance in the manufacturing of
SBC consuming products such as footwear. The US will remain the world' s
leading national market for thermoplastic vulcanizates (TPVs).
Sales to remain concentrated in developed markets
Excluding China, global TPE sales will remain heavily concentrated in the
developed markets of the US, Western Europe and Japan, particularly for higher
performance materials such as copolyester elastomers (COPEs) and TPVs. Most
developing markets have initially focused on low cost SBCs due to their
existing positions in styrene-butadiene and polybutadiene rubber, but some
such as China are also significantly diversifying into compounded
thermoplastic polyolefins (TPOs) and thermoplastic polyurethanes (TPUs).
Motor vehicles to continue as largest market for TPEs
Motor vehicles will remain the largest market for TPEs at the global level,
with demand of around 1.2 million metric tons in 2013. Through 2013, olefenics
(TPOs and TPVs) will continue to see increasing penetration in motor vehicles
in both interior and exterior applications. Specific areas of growth include
soft-touch TPO trim, TPO airbag covers, TPV body seals, two-shot TPO or TPV
overmolding of larger parts such as door panels, TPV weather seals and TPO
exterior panels that eliminate the need for paint.
Study coverage
Details on these and other findings are contained in the new Freedonia
industry study, World Thermoplastic Elastomers, presents historical demand
data (1998, 2003 and 2008) and forecasts for 2013 and 2018 by thermoplastic
elastomer product, market, world region and for 15 countries. The study also
considers market environment factors, evaluates company market share and
profiles industry competitors.
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