세계 열가소성 엘라스토머 시장 규모는 2023년 625만톤에서 2031년 849만톤에 이를 전망이고 예측기간 동안 복합 연간 성장률(CAGR) 3.9%의 성장이 전망되고 있습니다. 양말 산업의 활황이 열가소성 엘라스토머 시장의 성장을 뒷받침하고 있습니다. 이 성장은 전자상거래 사이트를 통한 양말 판매 및 스포츠 이벤트 증가로 인한 것입니다. 열가소성 탄성중합체의 운송부품으로의 전개 증가는 시장 성장을 뒷받침하고 있습니다. 예를 들어 Alliance for Automotive Manufacturers에 따르면 2022년 자동차 부품 제조에 대한 투자는 430억 달러에 달했습니다.
운송 부문의 강력한 성장은 항공기 생산 확대, 전기 자동차 제조 허브 개발을 위한 여러 정부의 이니셔티브, 새로운 선박과 관련된 진행 중인 제조 활동 등 다양한 요인 때문입니다. 새로운 양말 제품에 대한 소비자 수요 증가, 소비자 선호 변화, 제조 기술의 진보는 세계 수준에서 양말 산업의 성장에 영향을 미치는 주요 요인입니다. 따라서 세계 수준의 운송 부문과 양말 부문의 건전한 성장은 뛰어난 내화학성을 제공하는 열가소성 엘라스토머에 대한 수요를 높이고 시장 성장을 보완하고 있습니다.
게다가 최근 열가소성 엘라스토머 개발을 위한 새로운 시설이 개설됨으로써 세계 시장에서의 제품 공급이 촉진되어 장기적으로 시장 성장의 유리한 기회가 생길 전망입니다. 예를 들어(2022년) 10월, Audia Elastomers는 중국 상숙에 새로운 제조 공장을 출시했습니다. Audia Elastomers의 새로운 제조 시설은 열가소성 엘라스토머(TPE)를 포함한 다양한 엘라스토머를 생산합니다. 그러나 열가소성 엘라스토머에는 몇 가지 성능상의 제약이 있으며 시장 성장을 억제하고 있습니다.
운송 산업에서는 열가소성 엘라스토머를 채택하는 것이 필수적입니다. 이 재료는 시스템의 총 비용에서 열경화성 재료와는 대조적으로 가볍고 비용 효율적이며 내구성이 뛰어난 뛰어난 이점을 보장하기 위해 운송 제품 제조업체에게 점점 더 바람직한 재료와 되어 있습니다. 열가소성 엘라스토머는 민간 항공기, 승용차, 여객선 등의 운송 제품에 사용됩니다. 새로운 운송 제조 시설 개발, 상업 항공 활동 활성화, 항공기 생산 증가, 업그레이드된 운송 차량 모델의 기술 혁신의 급증은 세계 수준에서 운송 부문의 성장을 가속하는 주요 변수의 일부입니다.
예를 들어, 세계 항공기 제조업체인 Airbus에 따르면 A330 항공기 생산은 2022년월3기에 도달했습니다. 또한 에어버스는 2024년 A330 항공기 생산을 4대 늘리는 데 주력하고 있습니다. 게다가 에어버스는 611대의 민간항공기를 납품했으며, 이는 2022년 661대이며 연간 성장률은 8%입니다. 따라서 활황을 보이고 있는 수송산업은 범퍼, 에어덕트, 고압 및 저압 파이프의 제조를 위한 열가소성 엘라스토머의 채용을 촉진하고 있으며, 이것이 시장 성장의 주요 촉진요인이 되고 있습니다.
열가소성 엘라스토머는 에틸렌 비닐 아세테이트(EVA) 폼과 같은 기존 재료보다 상당히 높은 유연성을 발휘하여 양말 미드솔을 제조하는 데 이상적입니다. 또한, 열가소성 엘라스토머는 복잡한 형상으로 성형할 수 있으므로 쿠션성, 충격 흡수성, 지지성을 높일 수 있습니다. 양말 부문은 전자상거래를 통한 판매 확대, 양말 브랜드 광고 홍보비 확대, 경기 유행에 따른 편안한 양말 수요 증가, 급속한 도시화 등 주요 요인으로 인해 수요의 성장을 경험하고 있습니다.
World Footwear Yearbook 2023이 최근 발표한 통계에 따르면(2022년) 세계 양말 생산은 239억족으로 전년대비 성장률은 7.6%였습니다. 마찬가지로 Sports & Fitness Industry Association(SFIA)에 따르면 스포츠 용품 산업은 2021년에 기록적 매출을 달성했으며, 2020년부터 15.8% 증가, 2019년 팬데믹 전 수치에서 16.4% 증가 되어 있습니다. 이후 강화된 양말 부문은 우수한 감쇠 특성을 보장하는 열가소성 엘라스토머에 대한 수요에 박차를 가하여 시장 성장을 가속하고 있습니다.
이 보고서는 세계 열가소성 엘라스토머 시장에 대한 조사 분석을 통해 시장 규모와 예측, 시장 역학, 주요 기업 상황과 전망 등의 정보를 제공합니다.
Global thermoplastic elastomers market is projected to witness a CAGR of 3.9% during the forecast period 2024-2031, growing from 6.25 million tons in 2023 to 8.49 million tons in 2031. The flourishing footwear industry is augmenting the demand for thermoplastic elastomers market growth. This growth is attributed to footwear sales through e-commerce sites and increasing sports events. The increasing deployment of thermoplastic elastomers in transport parts bolstered market growth. For instance, according to the Alliance for Automotive Manufacturers, in 2022, investments in automotive parts manufacturing reached USD 43 billion.
The robust growth of the transportation sector is ascribed to various factors, including the production expansion of aircraft, multiple government initiatives to develop electric vehicle manufacturing hubs, and the ongoing manufacturing activities associated with the new marine vessels. The increasing consumer demand for a new range of footwear, shifting consumer preferences, and advancements in manufacturing technologies are some of the prime attributes influencing the growth of the footwear industry at the global level. Thus, the robust growth of the transportation and footwear sectors at the global level is boosting the demand for thermoplastic elastomers to ensure superior chemical resistance, which, in turn, is supplementing the market growth.
In addition, the recent opening of new facilities for thermoplastic elastomer development will boost the supply of products in the global market, thereby creating a lucrative opportunity for market growth in the long run. For instance, in October 2022, Audia Elastomers launched a new manufacturing plant in Changshu, China. The new manufacturing facility of Audia Elastomers is manufacturing a range of elastomers, including thermoplastic elastomers (TPEs). However, thermoplastic elastomers have several performance limitations, restraining the market's growth.
In the transportation industry, deploying thermoplastic elastomers is vital as the material ensures superior benefits, such as being lightweight, cost-effective, and highly durable, as opposed to thermoset materials in the total system cost, thereby making it increasingly desirable for transport product manufacturers. Thermoplastic elastomers are employed in transportation products such as commercial aircraft, passenger vehicles, cruise ships, and others. The development of new transport manufacturing facilities, rising commercial flight activities, increasing aircraft production, and surging innovations in the upgraded transport vehicle models are some of the prominent variables fostering the transportation sector's growth at the global level.
For instance, according to Airbus, a global aircraft manufacturer, the production of A330 aircraft reached 3 per month in 2022. Moreover, Airbus is focusing on increasing the production of A330 aircraft by 4 in 2024. Furthermore, Airbus delivered 611 commercial aircraft units, and in 2022, it was 661 units, an annual growth rate of 8%. Hence, the booming transportation industry is fueling the adoption of thermoplastic elastomers for manufacturing bumpers, air ducts, and high & low-pressure pipes, which forms a major aspect accelerating the market growth.
Thermoplastic elastomers are ideal for manufacturing footwear midsoles as TPEs serve significantly higher levels of flexibility than traditional materials such as ethylene-vinyl acetate (EVA) foams. Additionally, thermoplastic elastomers can be molded into complex shapes for enhanced cushioning, shock absorbency, and support. The footwear sector is experiencing significant demand growth due to several key factors, including the growing sales facilitated by e-commerce, extensive spending on advertising by footwear brands, rising demand for athletic, trendy, and comfortable footwear, and rapid urbanization.
According to the recent statistics published by the World Footwear Yearbook 2023, 2022 global footwear production was 23.9 billion pairs, representing a year-on-year growth rate of 7.6%. Likewise, according to the Sports & Fitness Industry Association (SFIA), the sporting goods industry experienced record-breaking sales in 2021, with a 15.8% increase in revenue from 2020 and a 16.4% increase since 2019 pre-pandemic numbers. Henceforth, the bolstering footwear sector is spurring the demand for thermoplastic elastomers to ensure superior damping properties, propelling the market growth.
The thermoplastic elastomers are equipped with beneficial technical properties such as specific gravity at 0.89-1.0, shore hardness of 60A-75D, low-temperature limit at -60°C, high-temperature limit at 120°C, compression set resistance at 100 °C, and resistance to hydrocarbon fluids. Thus, due to the above technical properties, thermoplastic elastomers are often deployed in various applications such as transport parts, construction extruded seals, and electrical and electronic components.
For instance, according to the recent data published by Invest India, in 2022, the production of electronic components in India was valued at USD 11 billion and is projected to reach USD 18 billion by 2026. Therefore, the superior technical properties associated with thermoplastic elastomers augment the adoption of TPEs across various applications, thereby proliferating the market growth.
The regional economic growth of the Asia-Pacific is driven by the expansion of the various end-use industries such as medical equipment, transportation, building & construction, and industrial. Prominent variables, such as increasing spending power of people, flexible trade regulations, easy availability of raw materials, and ease of import-export policies, are some of the favorable aspects fostering the growth of the transportation sector in the Asia Pacific region.
According to the recent report published by the Organisation Internationale des Constructeurs d'Automobiles (OICA), in 2022, the Asia Pacific region held the highest manufacturing share in the global automotive share, which was 58.8% of the global automotive share. Moreover, in 2021, the production of automobiles in the Asia-Pacific region was 46,768,800 units, whereas in 2022, it was 50,020,793, representing a year-on-year growth rate of 7%. Thus, the booming transportation sector in the Asia-Pacific region is boosting the adoption of thermoplastic elastomers to ensure superior durability, thereby supplementing the market growth in the region.
The COVID-19 pandemic in 2020 restrained the supply of raw materials, labor movement, and halt in the production of non-essential industrial products. As a result, the demand for thermoplastic elastomers declined. Furthermore, the demand revenue losses incurred by various end-use industries, such as transportation, industrial, and building and construction, resulted in the decline in the growth of the thermoplastic elastomers industry.
For instance, according to the statistics published by the Organisation Internationale des Constructeurs d'Automobiles (OICA), in 2019, the global production of automotive was 92,175,805 units and in 2020, it was 77,621,582, a decline of 15.8%. However, the sudden surge in the need for medical equipment boosted the demand for thermoplastic elastomers. Additionally, favorable government measures across various countries efficiently promoted the resurgence of various end-use industries, including thermoplastic elastomers, thereby accelerating the market growth in the years 2021 and 2022.
The Russia and Ukraine war had a strong impact on respective economies. Since Russia is among the major trade partners of Europe, the supply chain disruption strongly impacted the production activities in the region. As a result, there was a shortage of automotive components in the European countries during 2022, ultimately resulting in a decline in automotive production in the region.
For instance, according to the recent data published by the Organisation Internationale des Constructeurs d'Automobiles (OICA), in 2021, the automotive production in Netherlands was 107,021 units and in 2022, it was 101,670 units, an annual decline of 5% as compared to 2021. However, the procurement of materials from local sources and other prominent markets such as China and India aided the growth of the thermoplastic elastomers market despite the impact of the Russia-Ukraine war in the first half of 2022.
The major players with a strong market share in the global thermoplastic elastomers industry include: BASF SE, Arkema, Covestro AG, Asahi Kasei Corporation., DuPont., Dow, Huntsman International LLC., The Lubrizol Corporation, Mitsubishi Chemical Corporation., and KRATON CORPORATION. The prominent players operating in the manufacturing of thermoplastic elastomers have highly advanced R&D capabilities to ensure frequent innovations in developing novel product ranges.
In September 2023, Trinseo, a manufacturer of materials in the United States, launched APILON 52 XB-75A CRISTALLO, a new range of thermoplastic elastomers. APILON 52 XB-75A CRISTALLO is an ester-based transparent thermoplastic polyurethane (TPU) ideal for application in the footwear industry. The prime focus of Trinseo with the launch of a new range of products was to increase the product revenue share in the global market.
In June 2023, Avient, headquartered in the United States, introduced a new product for halogen-free flame-retardant thermoplastic elastomer (TPE) named reSound BIO biobased and reSound REC. The launch of the new product was focused on applications in the electrical and electronics industry.
In February 2023, Teknor Apex, a United States-based company involved in the manufacturing of the materials, introduced Monprene S3 CP-15170 BLK, a type of thermoplastic elastomer. Monprene TPEs include the performance benefits of thermoset rubber in combination with the processability of a thermoplastic. The primary focus of introducing a new range of products was to increase the distribution of thermoplastic elastomers in the global market.
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Companies mentioned above DO NOT hold any order as per market share and can be changed as per
information available during research work.