TPEs: Widely Used Globally
The global demand for thermoplastic elastomers (TPEs) is set to increase by approximately 4% per year to a projected 10 million metric tons in 2025. Continued product innovation and global demand for emerging markets are set to increase TPE use. This growth will certainly be aligned with the improved economic conditions in North America and Western Europe, and the Asia and Pacific regions will continue to have strong demand. Other markets, including Africa and the Middle East, will also show increased demand through 2025. All markets will continue to grow as TPEs continue to replace other materials, such as PVC and other plastics, silicone, natural rubber, and even metals and wood.
TPE USES IN NORTH AMERICAN MARKET
Thermoplastic elastomers have a wide variety of uses in modern industry and commerce. Their chemical formula is very adaptable so that they can be formulated to be used in a variety of applications. Since they are also recyclable, thermoplastics are perfect substances for manufacturers in the modern world.