The global thermoplastic elastomers (TPEs) market is estimated to have grown at a CAGR of 5.45% since 2012 to reach 4.24 million tonnes in 2017, even though it is an increasingly mature market. It is anticipated to witness a CAGR of 5.58% in the coming years to hit 5.53 million tonnes in 2022, according to a recent market report from Smithers Rapra titled “The Future of Thermoplastic Elastomers to 2022”. Styrene-block-copolymer-based materials (TPS), which have dominated the global TPEs market for a long period of time, are projected to gradually lose market share to other olefinic-based elastomers during the forecast period. In 2022, TPS will still be the most important TPE product, but this may not last for very long, owing to its higher price and a lack of significant technical developments. Furthermore, the low barriers to market-entry for TPS is ensuring that there will continue to be overcapacity for this material during the forecast period, especially in Asia and in particular China, said the report. In terms of end use, the automotive sector remains the major end-use application for TPEs. This segment grew at an above-average rate of 5.9% between 2012 and 2017 and reached 1.84 million tones or 43.4% of the total market in 2017. It is expected to have a consumption of 2.46 million tonnes in 2022, accounting for a market share of 44.4% and a CAGR of 6%. The demand for TPEs in medical application is also likely to witness above-average growth for the future, and to a lesser extent packaging. Appliances and houseware, building and construction, sports, leisure, and toys, and wire and cable are showing less-than-average growth but are nevertheless growing above regional GDPs, said the report. In terms of geography, the Asia-Pacific region accounts for an estimated 49.7% in 2017, and is expected to reach a market share of 53.1% by 2022. The NAFTA region is the second-largest market, but its estimated market share of 25.5% is likely to recede slightly to 24.5% by 2022. The European market share is third in line with a market share of 19.7% in 2017, which will likely fall to 17.8% in 2022. The South American market is faring rather badly and will do so right up to 2022.