Europe Thermoplastic Elastomer (TPE) Market Size (2024 - 2029)

The European thermoplastic elastomer market is anticipated to experience growth, driven by increasing demand in construction materials and medical applications. Despite challenges such as market saturation in certain applications, the market is poised for expansion, particularly with the rising interest in bio-based alternatives. Germany is expected to lead the market in terms of growth rate during the forecast period.

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Market Size of Europe Thermoplastic Elastomer (TPE) Industry

Mining Chemicals Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 3.50 %
Market Concentration High

Major Players

Mining Chemicals Market Major Players

*Disclaimer: Major Players sorted in no particular order

Europe Thermoplastic Elastomers Market Analysis

The European thermoplastic elastomer (TPE) market is projected to register a CAGR of over 3.5% during the forecast period.

In 2020, COVID-19 affected the market. The European thermoplastic elastomer market suffered from declining automotive industries and the government-imposed lockdown, which halted construction and automotive manufacturing. Thermoplastic elastomers make gaskets, plastics, pipes, coatings, belts, and hoses. However, the market recovered in 2021 with the demand for gowns, drapes, gloves, and other thermoplastic elastomer-based medical items.

  • Over the short term, the increasing demand for thermoplastic elastomers in the construction industry materials, like rubber-based tool grips, pipes, plastics, and gaskets, is expected to drive the market's growth.
  • However, market saturation in the applications of thermoplastic elastomers is expected to hinder the market's growth in the future.
  • The growing demand for bio-based thermoplastic elastomers will likely create opportunities for the market in the coming years.
  • Germany is expected to dominate the market and will likely witness the highest CAGR during the forecast period.

Europe Thermoplastic Elastomers Industry Segmentation

Thermoplastic elastomers (TPEs) are elastic materials that possess elasticity similar to cross-linked rubber and find their major applications in end-user industries, such as construction, automotive, and electronics. It is mainly produced from mechanical blending and dynamically vulcanized blending.

The European thermoplastic elastomer (TPE) market is segmented by product type, application, and geography. By product type, the market is segmented into styrenic block copolymer, thermoplastic olefin, elastomeric alloy, thermoplastic polyurethane, thermoplastic copolyester, and thermoplastic polyamide. By application, the market is segmented into automotive and transportation, building and construction, footwear, electrical and electronics, medical, household appliances, HVAC, adhesive, sealant and coating, and other applications. The report also covers the market size and forecasts for the thermoplastic elastomer (TPE) market in five countries across the European region. For each segment, the market sizing and forecasts have been done based on revenue (USD million).

Product Type
Styrenic Block Copolymer (TPE-S)
Thermoplastic Olefin (TPE-O)
Elastomeric Alloy (TPE-V or TPV)
Thermoplastic Polyurethane (TPU)
Thermoplastic Copolyester
Thermoplastic Polyamide
Application
Automotive and Transportation
Building and Construction
Footwear
Electrical and Electronics
Medical
Household Appliances
HVAC
Adhesives, Sealants, and Coatings
Other Applications
Geography
Germany
United Kingdom
Italy
France
Spain
Rest of Europe
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Europe Thermoplastic Elastomer (TPE) Market Size Summary

The European thermoplastic elastomer (TPE) market is poised for steady growth, driven by its increasing application across various industries. TPEs, known for their combination of plastic and rubber properties, are extensively used in the automotive and electric vehicle sectors due to their lightweight, flexibility, and durability. These materials are crucial for components such as seals, hoses, and interior parts, contributing to vehicle efficiency and performance. The automotive industry, a significant segment of the European economy, benefits from TPEs' cost-effectiveness and ability to meet stringent material standards. Additionally, the construction industry is witnessing a rise in TPE usage for applications like pipes and gaskets, further propelling market expansion. Despite challenges like market saturation, the demand for bio-based TPEs presents new opportunities for growth.

Germany stands out as a dominant force in the European TPE market, supported by its robust automotive and aerospace industries. The country's significant production of vehicles and aircraft underscores the critical role of TPEs in these sectors. The aerospace industry utilizes TPEs for their resilience and versatility, while the construction sector benefits from their durability and ease of maintenance. The market's partially consolidated nature, with key players like DuPont, BASF SE, and Covestro AG, highlights ongoing innovations and strategic developments, such as the introduction of bio-attributed TPEs. These advancements align with the growing trend towards sustainable materials, positioning the European TPE market for continued growth and adaptation in the coming years.

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Europe Thermoplastic Elastomer (TPE) Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Demand from the Construction Industry

      2. 1.1.2 Growing Applications in the HVAC Industry

    2. 1.2 Restraints

      1. 1.2.1 Market Saturation in Applications

      2. 1.2.2 Unfavorable Conditions Arising due to the Impact of COVID-19

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Product Type

      1. 2.1.1 Styrenic Block Copolymer (TPE-S)

      2. 2.1.2 Thermoplastic Olefin (TPE-O)

      3. 2.1.3 Elastomeric Alloy (TPE-V or TPV)

      4. 2.1.4 Thermoplastic Polyurethane (TPU)

      5. 2.1.5 Thermoplastic Copolyester

      6. 2.1.6 Thermoplastic Polyamide

    2. 2.2 Application

      1. 2.2.1 Automotive and Transportation

      2. 2.2.2 Building and Construction

      3. 2.2.3 Footwear

      4. 2.2.4 Electrical and Electronics

      5. 2.2.5 Medical

      6. 2.2.6 Household Appliances

      7. 2.2.7 HVAC

      8. 2.2.8 Adhesives, Sealants, and Coatings

      9. 2.2.9 Other Applications

    3. 2.3 Geography

      1. 2.3.1 Germany

      2. 2.3.2 United Kingdom

      3. 2.3.3 Italy

      4. 2.3.4 France

      5. 2.3.5 Spain

      6. 2.3.6 Rest of Europe

Europe Thermoplastic Elastomer (TPE) Market Size FAQs

The Europe Thermoplastic Elastomer (TPE) Market is projected to register a CAGR of greater than 3.5% during the forecast period (2024-2029)

DuPont, BASF SE, Covestro AG, KRATON CORPORATION and SABIC are the major companies operating in the Europe Thermoplastic Elastomer (TPE) Market.

Europe TPE Market Report Snapshots

Europe Thermoplastic Elastomers Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)