Triton Market Research’s report infers that Europe thermoplastic elastomers market will display a compound annual growth rate of 6.14% in revenue and 2.39% in volume during 2023-2030. Germany, Italy, the United Kingdom, Spain, France, and the Rest of Europe are taken into consideration in the region.
The thermoplastic elastomers market in the United Kingdom is thriving due to the growing disposable income and rising demand for passenger cars and fleets for private and commercial purposes. Additionally, the increasing adoption of electric vehicles and the demand for smart tires are expected to elevate the demand for TPE in the tire industry, thereby opening opportunities for the studied market.
Furthermore, France ranks third in the region for tire manufacturing, hosting prominent automobile manufacturers on the continent. Some of the world’s leading tire companies, such as Michelin, Goodyear, Continental, and Bridgestone, have a strong presence in the country. Passenger vehicles dominate the French automotive industry, followed by commercial vehicles. The growing automobile production is anticipated to drive the thermoplastic elastomers market.
Competitive Outlook
The key companies in the thermoplastic elastomers market include The Dow Chemical Company, Evonik Industries AG, LG Chem Ltd, Lubrizol Corporation, and Kraton Corporation.
1. Europe Thermoplastic Elastomers Market - Summary
2. Industry Outlook
2.1. Parent Market Analysis
2.2. Impact Analysis On The Thermoplastic Elastomers Market
2.2.1. Covid-19 Impact
2.2.2. Impact Of Russia-ukraine War
2.3. Porter’s Five Forces Analysis
2.3.1. Threat Of New Entrants
2.3.2. Threat Of Substitutes
2.3.3. Bargaining Power Of Buyers
2.3.4. Bargaining Power Of Suppliers
2.3.5. Threat Of Competitive Rivalry
2.4. Market Maturity Analysis
2.5. Industry Components
2.5.1. Raw Materials Manufacturer
2.5.2. Polymer Compounding
2.5.3. End-user
2.6. Regulatory Framework
2.7. Key Market Strategies
2.7.1. Collaborations
2.7.2. Product Launches
2.7.3. Mergers & Acquisitions
2.7.4. Business Divestitures & Expansions
2.8. Market Drivers
2.8.1. Application Of Thermoplastic Elastomer As A Substitute For Thermoset Elastomer
2.8.2. Introduction Of 3-d Printing Technology
2.8.3. Growing Demand In The Automotive Sector
2.9. Market Challenges
2.9.1. Reduced Volume Consumption Due To The Lightweight And Miniaturization Trends
2.9.2. Price Fluctuations In Raw Materials
2.10. Market Opportunities
2.10.1. Lightweight Materials Support Product Weight Reduction
2.10.2. Growing Use Of Thermoplastic Elastomers In Recyclability Improvement Projects
2.10.3. Thermoplastic Elastomers Support In Co2 Emission Reduction
2.11. Analyst Perspective
3. Europe Thermoplastic Elastomers Market – By Material Type
3.1. Polystyrene
3.2. Polyamide
3.3. Polyolefin
3.4. Polyurethane
3.5. Elastomeric Alloy
3.6. Other Material Types
4. Europe Thermoplastic Elastomers Market – By Industry Vertical
4.1. Medical
4.2. Building & Construction
4.3. Industrial
4.4. Consumer Goods
4.5. Electrical & Electronics
4.6. Automotive
4.7. Other Industry Verticals
5. Europe Thermoplastic Elastomers Market – By Country Outlook