Thermoplastic Polyester Elastomer Market To Hit Value .3 Billion By 2030 |Grand View Research, Inc.Posted by Mrudula Anil Karmarkar on March 2nd, 2023 The global thermoplastic polyester elastomer market size is expected to reach USD 2.3 billion by 2030, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 5.2% from 2022 to 2030. The thermoplastic polyester elastomer market is expected to witness significant growth over the forecast period owing to the increasing adoption of TPEE for lightweight automobiles, wearable electronics, and others. Increasing product and technological innovations in raw materials and end-use products are slated to foster global market growth. TPEEs are gradually replacing almost all conventional materials such as wood, natural and synthetic rubber, engineered plastics and metals in automotive, construction, household appliance and consumer goods, electronics and several other end-use industries. Rising TPEE applications in automobile manufacturing to reduce vehicle density and improve fuel efficiency, thereby eliminating carbon emissions are further projected to drive product usage in creating light-weight, fuel-efficient cars. TPEEs are also increasingly being used to develop tough, chemical and UV resistant, light-weight sports/leisure equipment and clothing. Development of unique wearable and miniaturized electronics has also contributed to TPEE market growth in recent years. Numerous electronics manufacturers have realized the benefits of integrating lightweight and sustainable materials such as TPEE into wearable electronics to provide non-tacky, soft-touch feel of advanced materials into high-end consumer gadgets. Major players in the market are involved in mergers and acquisitions for thermoplastic polyester elastomers that provide improved features. For instance, in February 2022, Celanese Corporation announced the acquisition of DuPont’s mobility and materials business segment for USD 11 billion. With this acquisition, Celanese will acquire a portfolio of engineered thermoplastics and elastomers. To Request Sample Copy of this report, click the link: Increasing adoption of thermoplastic polyester elastomer (TPEE) for lightweight automobiles, wearable electronics, and others is expected to drive the market.The U.S., which is a major market in North America, is characterized by technological advancements in TPEE production methods and high awareness among consumers regarding the health and environmental effects of plastics. Regulatory policies framed by EPA, FDA, and other relative agencies are likely to act as a restraint force for growth, but the impact of this factor is expected to be mitigated by sustainability and alternative production processes through the life cycle of the product. Thermoplastic Polyester Elastomer Market Report Highlights
There is a growing demand for TPEE in electronic housings, connectors, electronic devices, and gadgets among other similar applications. The sector is expanding at a rapid pace in the U.S. on account of the increasing preference for lightweight wearables and electronics, along with technological innovations that have transformed the landscape. TPEE compounds facilitate increased fuel efficiency by reducing the vehicle’s weight and density by substituting conventional components inside and around the vehicle. In order to reduce the impact of carbon emissions and greenhouse gases (GHG) on the environment and human health, regulatory bodies across various nations have imposed numerous stringent regulations. U.S. Environment Protection Agency (EPA) has also determined control techniques and guidelines regarding carbon emissions from various automotive vehicles, mentioned in the Clean Air Act, effective from October 2008. Thus, the corresponding demand for fuel-efficient cars and industrial machinery created from TPEE components has also risen. List of Key Players of Thermoplastic Polyester Elastomer Market
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