MEA Thermoplastic Elastomers Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 5.50 % |
| Market Concentration | High |
Major Players_Market.webp)
*Disclaimer: Major Players sorted in no particular order |
MEA Thermoplastic Elastomers Market Analysis
The Middle-East and Africa thermoplastic elastomer market is estimated to witness a healthy growth, at an estimated CAGR of over 5.5%, over the forecast period. The major factors driving the growth of the market studied are extensive demand from the automotive industry and advancement in processing industry.
- Growing demand for bio-based thermoplastic elastomers are likely to create opportunities for the market in the coming years.
- Market saturation in applications are expected to hinder the market demand in the future.
- Saudi Arabia is expected to dominate the market and is also likely to witness highest CAGR during the forecast period.
MEA Thermoplastic Elastomers Market Trends
This section covers the major market trends shaping the MEA Thermoplastic Elastomers Market according to our research experts:
Increasing Usage in the Automotive and Transportation Applications
- Thermoplastic elastomers (TPE) are high-performance materials, whose application in the automotive industry is rapidly increasing. TPE serve the automotive industry in a myriad of applications, some of which include the manufacturing of high-quality automotive instrument panels, wheel covers, dashboard components, pillar trims, door liners and handles, seat backs, and seat belt components, among others.
- The automotive industry places particularly high requirements on the materials used. Under extreme stresses, the materials must be dimensionally stable and must not warp, even when faced with great temperature variations.
- TPEs are special types of plastic, which are not only cheaper than metals but also help to make automobiles more energy-efficient by reducing the weight, in addition to providing durability, corrosion resistance, toughness, design flexibility, resiliency, and high performance at low cost. The light weight of TPE enables more fuel-efficient vehicles. Every 10% reduction in vehicle weight is estimated to result in a 5-7% reduction in fuel usage.
- Growing demand for lightweight and high-performance plastics in the automotive industry, to provide increased efficiency and design flexibility, is primarily responsible for the growth of the TPE market. High-performance thermoplastic elastomers offer manufacturers advantages of design and the comparable strength of steel, which help in reducing the weight and controlling greenhouse gas emissions.
- All the aforementioned factors, in turn, are expected to drive the demand for thermoplastic elastomer during the forecast period.
Saudi Arabia to Dominate the Market
- The market openness and investment opportunities were limited in Saudi Arabia, when compared with other emerging economies. However, the government, in its 10th development plan, is reforming its economic strategies, with investments in diversified sectors, and trying to attract private investments into the country, in order to make it a diversified economy that is not dependent on oil.
- The country has generated large-scale projects worth USD 800 billion, to boost its infrastructure in the coming years. The government has expansive plans for the development of social infrastructure, transportation, and energy and utility construction in the country. The country's primary growth in construction has been largely powered by the massive investments done by the government, and an increased inflow of FDI.
- The other major end-user industry is automotive. Saudi is focusing on establishing itself as the new automotive hub in the Middle East. Although the country is a large importer of vehicles and auto parts, it is now trying to attract original equipment manufacturers (OEMs) to open their production plants in the country, to develop the domestic auto industry.
- Moreover, the country is experiencing a steady growth in new car sales in the market, which is expected to reach one million units by 2020, growing at a rate of 6.7% per annum. According to the General Authority for Statistics, the automotive industry is expected to witness a growth rate of around 4-5% annually, over the next decade.
- Owing to the aforementioned factors, the market for thermoplastic elastomer in the country is expected to witness huge demand in the coming years.
MEA Thermoplastic Elastomers Industry Overview
The Middle-East and Africa thermoplastic elastomer market is consolidated in nature. The key players in the market include DuPont, BASF SE, Covestro AG, and LCY GROUP, among others.
MEA Thermoplastic Elastomers Market Leaders
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DuPont
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BASF SE
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Covestro AG
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LCY GROUP
*Disclaimer: Major Players sorted in no particular order
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MEA Thermoplastic Elastomers Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Extensive Demand from the Automotive Industry
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4.1.2 Advancement in Processing Industry
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4.2 Restraints
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4.2.1 Market Saturation in Applications
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4.3 Industry Value-Chain Analysis
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4.4 Porter's Five Forces Analysis
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4.4.1 Bargaining Power of Suppliers
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4.4.2 Bargaining Power of Consumers
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4.4.3 Threat of New Entrants
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4.4.4 Threat of Substitute Products and Services
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Product Type
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5.1.1 Styrenic Block Copolymer (TPE-S)
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5.1.2 Thermoplastic Olefin (TPE-O)
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5.1.3 Elastomeric Alloy (TPE-V or TPV)
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5.1.4 Thermoplastic Polyurethane (TPU)
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5.1.5 Thermoplastic Copolyester
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5.1.6 Thermoplastic Polyamide
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5.2 Application
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5.2.1 Automotive & Transportation
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5.2.2 Building & Construction
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5.2.3 Footwear
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5.2.4 Electricals & Electronics
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5.2.5 Medical
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5.2.6 Household Appliances
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5.2.7 HVAC
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5.2.8 Adhesive, Sealant & Coating
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5.2.9 Other Applications
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5.3 Geography
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5.3.1 Saudi Arabia
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5.3.2 South Africa
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5.3.3 Rest of Middle-East and Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 Arkema Group
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6.4.2 BASF SE
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6.4.3 Covestro AG
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6.4.4 DSM
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6.4.5 DuPont
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6.4.6 Evonik Industries AG
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6.4.7 Exxon Mobil Corporation
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6.4.8 Huntsman International LLC
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6.4.9 LANXESS
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6.4.10 LCY GROUP
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6.4.11 LG Chem
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6.4.12 Mitsubishi Chemical Corporation
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6.4.13 SABIC
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6.4.14 Sumitomo Chemicals Co. Ltd
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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7.1 Growing Demand for Bio-based Thermoplastic Elastomers
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7.2 Increasing Applications in the Medical Industry
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MEA Thermoplastic Elastomers Industry Segmentation
The Middle-East and Africa thermoplastic elastomer market report includes:
| 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 & Transportation | |
| Building & Construction | |
| Footwear | |
| Electricals & Electronics | |
| Medical | |
| Household Appliances | |
| HVAC | |
| Adhesive, Sealant & Coating | |
| Other Applications |
| Geography | |
| Saudi Arabia | |
| South Africa | |
| Rest of Middle-East and Africa |
MEA Thermoplastic Elastomers Market Research FAQs
What is the current Middle-East and Africa Thermoplastic Elastomer (TPE) Market size?
The Middle-East and Africa Thermoplastic Elastomer (TPE) Market is projected to register a CAGR of greater than 5.5% during the forecast period (2024-2029)
Who are the key players in Middle-East and Africa Thermoplastic Elastomer (TPE) Market?
DuPont, BASF SE, Covestro AG and LCY GROUP are the major companies operating in the Middle-East and Africa Thermoplastic Elastomer (TPE) Market.
What years does this Middle-East and Africa Thermoplastic Elastomer (TPE) Market cover?
The report covers the Middle-East and Africa Thermoplastic Elastomer (TPE) Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Middle-East and Africa Thermoplastic Elastomer (TPE) Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Middle-East and Africa Thermoplastic Elastomer (TPE) Industry Report
Statistics for the 2024 Middle-East and Africa Thermoplastic Elastomer (TPE) market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Middle-East and Africa Thermoplastic Elastomer (TPE) analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
