Market Size of Asia-Pacific Thermoplastic Elastomer (TPE) Industry
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Study Period | 2018 - 2028 |
Base Year For Estimation | 2021 |
Forecast Data Period | 2024 - 2028 |
Historical Data Period | 2018 - 2020 |
CAGR | > 6.50 % |
Market Concentration | High |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
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APAC Thermoplastic Elastomers Market Analysis
The Asia-Pacific thermoplastic elastomer market is estimated to witness a healthy growth, at an estimated CAGR of over 6.5%, over the forecast period. The major factors driving the growth of the market studied are extensive demand from the automotive industry and growing application in the HVAC industry.
- Growing demand for bio-based thermoplastic elastomers are likely to create opportunities for the market in the coming years.
- Volatility in raw material prices are expected to hinder the market demand in the future.
- China is expected to dominate the market and is also likely to witness highest CAGR during the forecast period.