The Europe Thermoplastic Elastomer Market would witness market growth of 6.6% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 851.0 Kilo Tonnes, showcasing a growth of 5.2% (2019-2022).
The industrial applications of thermoplastic elastomers extend to various sectors, including construction, electronics, and manufacturing. Their versatility allows for the creation of components such as seals, gaskets, conveyor belts, and industrial hoses. TPEs' ability to withstand challenging environmental conditions and their durability has increased adoption in diverse industrial settings. TPEs find applications in weather seals, gaskets, and profiles in the construction industry due to their excellent weathering resistance and durability. Maintaining flexibility even in low temperatures contributes to their effectiveness in sealing applications, making them valuable in constructing doors, windows, and roofing systems.
In addition, the electronics industry has embraced TPEs for their electrical insulating properties and the ability to provide soft-touch surfaces. TPEs are used to manufacture cable insulation, connectors, and electronic device housings. Their capacity to meet specific flame retardancy requirements further enhances their suitability for electronic applications. Due to their excellent electrical insulating properties, TPEs have become a preferred choice for cable insulation in the electronics industry. These materials protect cables from electrical interference and provide insulation to prevent short circuits. TPE-based cable insulation is known for its flexibility, allowing for easy installation and bending of cables in various electronic devices.
Moreover, as per the data provided by Eurostat, over the past five years, the passenger automobile fleet in practically all EU Member States has increased, surpassing the EU's total of 250 million cars. Poland has the most cars per thousand people, followed by Italy and Luxembourg. The number of battery-only electric passenger automobiles in the European Union Member States surpassed 1.9 million in 2021, representing an increase of approximately 37 times compared to 2013 and 5 times over 2018. The periods of greatest growth were observed from 2020 to 2021 (75.5%) and from 2019 to 2020 (83.0%). Therefore, increasing growth in the automotive sector in Europe will drive the demand for thermoplastic elastomers in the region.
The Germany market dominated the Europe Thermoplastic Elastomer Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,166.2 million by 2030. The UK market is exhibiting a CAGR of 5.7% during (2023 - 2030). Additionally, The France market would experience a CAGR of 7.4% during (2023 - 2030).
Based on Material, the market is segmented into Polystyrenes, Polyolefins, Polyurethanes, Polyetherimides, Polyesters and Polyamides. Based on Application, the market is segmented into Automotive, Industrial, Electrical Electronics, Medical, Consumer Goods and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Thermoplastic Elastomer Market will Hit USD 40.6 Billion by 2030, at a CAGR of 6.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Arkema S.A., BASF SE, China Petrochemical Corporation (Sinopec Group), Evonik Industries AG (RAG-Stiftung), Huntsman Corporation, The Dow Chemical Company, Covestro AG, Mitsubishi Chemical Holdings Corporation, DuPont de Nemours, Inc., and Asahi Kasei Corporation
By Material (Volume, Kilo Tonnes, USD billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD billion, 2019-2030)
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 