Thermoplastic Elastomers (TPE) Market 2015-2019
Outlook of the Thermoplastic Elastomers TPE market Technavios market research analyst predicts the TPE market to witness a steady growth at a CAGR of around 8%, in terms of revenue, during the forecast period. The increased use of TPE products as a replacement for traditional materials in the automotive industry is driving the market growth. TPE, in comparison to natural rubber and EPDM, provides the manufacturer with increased design flexibility and reduced cost and enhanced long-term weather-resistance advantages. It also helps the manufacturers in reducing the overall weight of the vehicle and addressing the demand for lighter vehicles with increased fuel efficiency. The growth of the construction sector in China is also anticipated to fuel the market growth during the forecast period. TPE is used for paving and roofing applications and in adhesives and sealants within the construction sector. The entry of major construction players from the EU in the Chinese market has f