Middle East And Africa Thermoplastic Elastomers Market 2023-2030
Market Outlook
Triton Market Research’s report implies that the thermoplastic elastomers market in the Middle East and Africa is projected to register a compound annual growth rate of 6.35% in value and 2.59% in volume during the forecast years 2023-2030. Turkey, Saudi Arabia, South Africa, the UAE, and Rest of Middle East & Africa are reviewed in the region.
In Turkey, thermoplastic elastomers (TPEs) find widespread applications across various industries, including consumer goods, medical equipment, power tools, housewares, shoe insoles, and motorcycle grips. They are also employed in advanced processing techniques like over-molding and two-shot molding. TPEs are available in a wide range nationwide, from ultra-soft gel-like materials to rigid materials. The ongoing advancements associated with TPEs are widening their application scope across various industries.
The automotive sector stands as South Africa’s largest manufacturing industry. In recent years, several vehicle manufacturers have expanded their production and exports, capitalizing on the incentives provided by the government’s Automotive Production and Development Plan (APDP). Besides this, the rising demand for housing and an influx of new residents in urban areas is driving the construction industry. The expansion in these end-user industries expands the application scope of TPE for various purposes, thereby generating opportunities for the thermoplastic elastomers market.
Competitive Outlook
The prominent firms in the thermoplastic elastomers market consist of Asahi Kasei Corporation, Covestro AG, The Dow Chemical Company, Kraton Corporation, and Evonik Industries AG.
1. Middle East And Africa 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. Middle East & Africa 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. Middle East And Africa 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. Middle East And Africa Thermoplastic Elastomers Market – By Country Outlook
5.1. United Arab Emirates
5.1.1. United Arab Emirates Thermoplastic Elastomers Market Forecast & Prospects
5.2. Saudi Arabia
5.2.1. Saudi Arabia Thermoplastic Elastomers Market Forecast & Prospects