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The TPEE market share in the automotive industry is expected to increase to USD 139.26 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.77%.
This TPEE market in automotive industry research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the thermoplastic polyester elastomer (TPEE) in automotive industry market segmentation by type (injection molding grade, extrusion grade, and blow molding grade) and geography (APAC, Europe, North America, Middle East and Africa, and South America). The thermoplastic polyester elastomer in automotive industry market report also offers information on several market vendors, including Celanese Corp., Cesium Inc., Chang Chun Group, Eastman Chemical Co., Koninklijke DSM NV, Kraton Corp., LCY Chemical Corp., Mitsubishi Chemical Corp., Radici Partecipazioni Spa, SABIC, SK Chemicals Co. Ltd., Spiratex, and DuPont de Nemours Inc. among others.
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The superior quality of TPEE and better performance is notably driving the TPEE in automotive industry market growth, although factors such as stringent safety legislation on production may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the TPEE market in automotive industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key TPEE Market Driver in Automotive Industry
One of the key factors driving the global TPEE market growth in automotive industry is the superior quality of TPEE and better performance due to their rapid processing and lower scrap or wastage rates. These advantages make TPEE products better than thermoplastic materials. In addition, thermoplastic polyester elastomer has the ability to withstand multiple flex cycles and show resistance to a variety of solvents and lubricants. It has a strong impact strength even at low temperatures and can withstand temperatures up to 300 degrees F. Other factors such as the superior texture of TPEE and its performance from other materials will further drive the growth of the market over the forecast period.
Key TPEE Market Trend in Automotive Industry
Increasing opportunities in APAC is one of the key TPEE market trends in automotive industry that is expected to impact the industry positively in the forecast period. TPEEs are used as hoses, insulators, seals, and bushes in the automotive industry owing to their properties such as elasticity, strength, and efficiency at high temperatures. The rapid growth of the automotive industry in APAC will drive the demand for TPEE. Moreover, the automotive industry in China records high sales due to its strong government support and ad-hoc tax incentives. The growing preferences for high-efficiency automobiles in countries such as China and India will boost the demand for TPEE in the automotive industry in the forecast years.
Key TPEE Market Challenge in Automotive Industry
One of the key challenges to the global TPEE market growth in automotive industry is the stringent safety legislation on production. For instance, in North America, regulations by agencies such as the US-EPA and the FDA had a significant impact on TPEE manufacturers and importers. These regulatory bodies have drawn up a list of hazardous raw materials that are used in the production of TPEE. Similarly, in the European Union, the ECHA implemented the Registration, Evaluation, Authorisation, and Restriction of Chemicals legislation, which affected the TPEE market in the automotive industry of the European Union. Such regulations require manufacturers and importers of TPEE materials to maintain a record of the environmental, health, and physiochemical properties of chemical substances. Vendors find it challenging to comply with such stringent regulations, which may limit the growth of the market in focus during the forecast period.
This TPEE market in automotive industry analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global TPEE market in automotive industry as a part of the global chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the TPEE market in automotive industry during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the TPEE market in automotive industry encompasses successful business strategies deployed by the key vendors. The TPEE market in automotive industry is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The TPEE market in automotive industry forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the TPEE market in automotive industry, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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51% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for TPEE in automotive industry in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The rise in the manufacturing sector, as TPEE contributes to lighter vehicle weight, due to the growing need in industries such as automotive, industrial machinery, packaging, and electrical and electronics industries will facilitate the TPEE market growth in automotive industry in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 affected the production and demand for TPEE and also created disruptions in the supply chain and market distribution due to the lockdown imposed in the region in 2020. However, by Q4 2020, the rules of lockdown in the region were relaxed, which led to the resumption of business activities of companies operating in the automotive industry resulting in increased demand for TPEE in 2021. Therefore, the regional market is expected to register growth during the forecast period.
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The TPEE market share growth in automotive industry by the injection molding grade segment will be significant during the forecast period. The demand for injection molding grades is on the rise in automobile components as they offer high corrosion resistance and better design flexibility, as well as ensure safety. Therefore, automobile companies, including BMW have been focusing on improving the fuel efficiency of their vehicles by using lightweight and high-performance elements such as TPEE in vehicles. Such factors are expected to propel the growth of this segment in the coming years.
This report provides an accurate prediction of the contribution of all the segments to the growth of the TPEE market size in automotive industry and actionable market insights on post COVID-19 impact on each segment.
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TPEE Market Scope in Automotive Industry |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.77% |
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Market growth 2022-2026 |
$ 139.26 million |
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Market structure |
Fragmented |
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YoY growth (%) |
5.42 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 51% |
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Key consumer countries |
US, Canada, China, Japan, Germany, and UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Celanese Corp., Cesium Inc., Chang Chun Group, Eastman Chemical Co., Koninklijke DSM NV, Kraton Corp., LCY Chemical Corp., Mitsubishi Chemical Corp., Radici Partecipazioni Spa, SABIC, SK Chemicals Co. Ltd., Spiratex, and DuPont de Nemours Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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