World demand to rise 5.2% annually through 2019 Global demand for thermoplastic elastomers (TPEs) is forecast to rise 5.2 percent per year to 6.7 million metric tons in 2019, valued at more than $24 billion. Advances will be driven by ongoing product innovation on the part of TPE manufacturers, which will allow these materials to continue to displace traditional elastomers and thermoplastics in a variety of applications. Additionally, TPE demand will benefit from the ongoing push to reduce motor vehicle weight, particularly as fuel economy standards around the world become more stringent. Growth will also be boosted by an improved economic outlook in North America and Western Europe, while advances in developing countries will benefit from increased adoption of TPEs over competing materials. Limiting further gains, however, will be a high degree of maturity in slower growing markets such as footwear and motor vehicle bumpers. Asia/Pacific to claim half of world demand by 2019 The Asia/Pacific region will remain the largest market for TPEs, rising at an above average pace to account for half of total world demand in 2019. China, the world’s largest consumer of TPEs in volume terms, will see nearly eight percent annual growth. Regional gains will also benefit from robust expansion in India and Southeast Asia, although growth in the Japanese market will be sluggish. The Africa/Mideast region, which currently has the world’s lowest TPE consumption levels per capita, will also produce above average advances in demand. TPE demand in North America and Western Europe will slow from the recovery-enhanced 2009-2014 performance, yet will still see healthy growth; however, these regions are expected to account for a smaller share of global TPE demand. TPVs, POEs to be fastest growing TPE products Styrenic block copolymers (SBCs) will remain the leading TPE product type through 2019. However, SBC demand will rise at a below average pace compared to TPEs overall, limited by a high degree of market saturation in many large volume applications. The fastest growth is expected for thermoplastic vulcanizates (TPVs), which are penetrating new applications in motor vehicle, consumer, and medical product markets. Strong gains are also forecast for polyolefin elastomers (POEs), a relatively new TPE product class which is gaining rapid acceptance as a performance additive for plastics and packaging adhesives. Continued strength in the motor vehicle industry will bolster demand for thermoplastic polyolefins (TPOs), although advances will be restrained by maturity in applications such as automotive bumper fascia. Study coverage This Freedonia industry study analyzes the 5.2 million metric ton world TPE industry. It presents historical demand data (2004, 2009 and 2014) and forecasts (2019 and 2024) by market (e.g., motor vehicles; consumer goods; asphalt and roofing; adhesives, sealants and coatings; industrial products) and product (e.g., styrenic block copolymers, thermoplastic polyolefins, polyolefin elastomers, thermoplastic polyurethanes, thermoplastic vulcanizates, copolyester elastomers) for six world regions and 16 major countries. The study also considers market environment factors, details industry structure, evaluates company market share, and profiles 40 industry players, including Kraton Performance Polymers, LyondellBasell, and Sinopec. Source：https://www.freedoniagroup.com/industry-study/world-thermoplastic-elastomers-3326.htm