Thermoplastic Polyester Elastomer Market Size, Share & Trends Analysis Report By Type (Injection Molding, Extrusion Molding), By End-use (Medical, Industrial), By Region, And Segment Forecasts, 2023 - 2030

Thermoplastic Polyester Elastomer Market Size, Share & Trends Analysis Report By Type (Injection Molding, Extrusion Molding), By End-use (Medical, Industrial), By Region, And Segment Forecasts, 2023 - 2030

Thermoplastic Polyester Elastomer Market Growth & Trends

The global thermoplastic polyester elastomer market size is expected to reach USD 2.28 billion by 2030, registering a CAGR of 5.34% from 2023 to 2030, according to a new study by Grand View Research, Inc. The primary reason driving the growth of the market is the rising use of thermoplastic polyester elastomer (TPEE) for lightweight materials in the automotive industry.

The rising healthcare expenditure is expected to boost the production of advanced lightweight equipment, surgical instruments, and other medical products including plastic syringes, instruments, surgical gloves, and others is expected to drive the market growth in the medical industry. The demand for halogen-free polymers, along with the development in the medical industry toward wearable health gadgets and medical tools are the primary market drivers.

The market is expected to witness significant growth in the electrical & electronics industry Due to its characteristics such as abrasion resistance, flexibility, tear resistance, and creep resistance, thermoplastic elastomers are utilized in several electrical equipment.TPEE is used in components such as connectors, smartphone buttons, welding cable sheaths, phone covers, wire & cable jackets, electrical flexible buttons, and other electrical parts. The need for electronic components and devices comprising TPEEs is anticipated to boost owing to the growth of upcoming technologies including 5G, IoT, and electric cars.

The development of unique TPEE materials that foster higher performance of automotive parts such as door handle seals, airbag accessories, lock assemblies, and others is anticipated to drive industry growth over the forecast period. TPEE is widely used to modify the properties of rigid thermoplastics by improving their impact strength. Increasing application in the automotive industry accounting for the demand for safe, lightweight, and cost-effective MUV/SUV models with high fuel efficiency and emphasis on comfort and aesthetics is expected to fuel the market growth.

Thermoplastic Polyester Elastomer Market Report Highlights

• Based on end-use, the automotive segment dominated the market in 2022. The need for TPEE in external, interior, sealing systems, and under-the-hood components is expected to increase due to rapidly increasing automotive markets
• Based on type, the injection molding segment dominated the market and accounted for a revenue share of over 68.0% in 2022. Injection molding is a versatile and cost-effective manufacturing method for a wide range of products. TPEE injection molding is widely employed in several industries, including automotive, healthcare, and electrical & electronics
• Asia Pacific dominated the overall market and is expected to grow over the forecast period. The growth in automotive production in the region is expected to boost the TPEE demand as it offers increased fuel efficiency by lowering car weight and density of the vehicle
• For Instance, in June 2023, MM Polytrade Ltd announced the acquisition of Celanese's business in thermoplastic co-polyesters (TPC) and hotmelt polyesters manufactured in the Ferrara Donegani plant, as well as some assets present in the Forl compounding plant, through its existing subsidiary Taro Plast

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