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Global Thermoplastic Elastomers (TPE) Material Market Growth 2025-2031
Dec 2025
Chemicals and Materials
Pages: 143
LPI43415
The global Thermoplastic Elastomers (TPE) Material market size is predicted to grow from US$ 12170 million in 2025 to US$ 18920 million in 2031; it is expected to grow at a CAGR of 7.6% from 2025 to 2031.
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The impact of the latest U.S. tariff measures and the corresponding policy responses from countries worldwide on market competitiveness, regional economic performance, and supply chain configurations will be comprehensively evaluated in this report.
Thermoplastic elastomers (TPE), sometimes referred to as thermoplastic rubbers (TPR), are a class of copolymers or a physical mix of polymers (usually a plastic and a rubber) that consist of materials with both thermoplastic and elastomeric properties.
While most elastomers are thermosets, thermoplastic elastomers are not, in contrast making them relatively easy to use in manufacturing, for example, by injection moulding. Thermoplastic elastomers show advantages typical of both rubbery materials and plastic materials. The benefit of using thermoplastic elastomers is the ability to stretch to moderate elongations and return to its near original shape creating a longer life and better physical range than other materials.
The principal difference between thermoset elastomers and thermoplastic elastomers is the type of cross-linking bond in their structures. In fact, crosslinking is a critical structural factor which imparts high elastic properties.
The classification of thermoplastic elastomers (TPE) material includes Styrenic Block Copolymers (TPS or TPE-S), Thermoplastic Vulcanizates (TPV), etc. In 2023, Styrenic Block Copolymers (TPS or TPE-S) accounted for a share of 79% in the global thermoplastic elastomers (TPE) material market.
Tthermoplastic elastomers (TPE) material is widely used for Footwear, Automobile, Building & Construction and Other. In thermoplastic elastomers (TPE) material market, the Automobile Industry holds an important share in terms of Application.
Asia-Pacific is the largest consumption place, with a consumption market share nearly 53% in 2023.
Market competition is intense. Kraton Polymers, INEOS Styrolution, Sinopec, LCY Technology Corp, Avient Corporation, etc. are the leaders of the industry, with high-end customers. The top five manufacturers held 39% of the market, in terms of thermoplastic elastomers (TPE) material revenue in 2023.
Market Trends
Enhanced Environmental Awareness
With the improvement of environmental awareness and the popularization of the concept of sustainable development, more and more downstream industries have begun to pay attention to the environmental performance and recyclability of products.
As a recyclable material, TPE can effectively reduce plastic pollution and meet the requirements of green development, so the market demand continues to increase.
Technological innovation drive
With the continuous advancement of materials science, TPE modification technology is also constantly innovating.
Modified TPE can improve its performance, such as enhancing wear resistance and UV resistance, so that it can better meet the needs of different application scenarios.
Expanded application areas
The flexibility of TPE makes it suitable for a variety of industries, including medical, electronics, automobiles, and toys.
With the continuous development of these industries, the application scenarios of TPE are also expanding.
Infinity Market Research newest research report, the Thermoplastic Elastomers (TPE) Material Industry Forecast looks at past sales and reviews total world Thermoplastic Elastomers (TPE) Material sales in 2024, providing a comprehensive analysis by region and market sector of projected Thermoplastic Elastomers (TPE) Material sales for 2025 through 2031. With Thermoplastic Elastomers (TPE) Material sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Thermoplastic Elastomers (TPE) Material industry.
This Insight Report provides a comprehensive analysis of the global Thermoplastic Elastomers (TPE) Material landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Thermoplastic Elastomers (TPE) Material portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms unique position in an accelerating global Thermoplastic Elastomers (TPE) Material market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Thermoplastic Elastomers (TPE) Material and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Thermoplastic Elastomers (TPE) Material.
This report presents a comprehensive overview, market shares, and growth opportunities of Thermoplastic Elastomers (TPE) Material market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
Styrenic Block Copolymers (TPS or TPE-S)
Thermoplastic Vulcanizates (TPV)
Others
Segmentation by Application:
Footwear
Automobile
Building & Construction
Other
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the companys coverage, product portfolio, its market penetration.
Kraton Polymers
Dynasol
LG Chem
INEOS Styrolution
Avient Corporation
Asahi Chemical
Versalis
Mitsubishi Chemical
Sibur
Kumho Petrochemical
ExxonMobil
JSR
Kuraray
Sinopec
LCY Technology Corp
TSRC
CNPC
ChiMei
Key Questions Addressed in this Report
What is the 10-year outlook for the global Thermoplastic Elastomers (TPE) Material market?
What factors are driving Thermoplastic Elastomers (TPE) Material market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Thermoplastic Elastomers (TPE) Material market opportunities vary by end market size?
How does Thermoplastic Elastomers (TPE) Material break out by Type, by Application?
Thermoplastic Elastomers TPE Material Market Scope
| Report Attribute | Details |
|---|---|
| Market Size (Start Year) | USD XX Million |
| Market Size (End Year) | USD XX Million |
| Compound Annual Growth Rate (CAGR) | USD XX Million |
| Forecast Period | USD XX Million |
| Base Year | USD XX Million |
| Historical Data | USD XX Million |
| Key Players | USD XX Million |
REPORT COVERAGE
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
SEGMENT COVERED
By component, deployment, organization size, application, and industry.
REGIONAL SCOPE
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
COUNTRY SCOPE
Includes key countries across all major regions.
📘 Frequently Asked Questions
1. What is the market size of Global Thermoplastic Elastomers TPE Material Market?
Answer: The global Thermoplastic Elastomers (TPE) Material market size is predicted to grow from US$ 12170 million in 2025 to US$ 18920 million in 2031; it is expected to grow at a CAGR of 7.6% from 2025 to 2031.
2. Which regions are analyzed in the Global Thermoplastic Elastomers TPE Material Market report?
Answer: The Global Thermoplastic Elastomers TPE Material Market report covers major regions such as Europe, Asia-Pacific, Middle East & Africa. Each region is analyzed for trends, opportunities, and market dynamics.
3. What methodology is used for forecasting of Global Thermoplastic Elastomers TPE Material Market?
Answer: The Global Thermoplastic Elastomers TPE Material Market report uses a mix of primary research, secondary data, and expert analysis to build its forecasts. Models include both qualitative and quantitative approaches.
4. Are emerging markets analyzed separately in the Global Thermoplastic Elastomers TPE Material Market?
Answer: Yes, the Global Thermoplastic Elastomers TPE Material Market report highlights high-growth emerging regions with dedicated insights. These include untapped opportunities, risks, and potential for expansion.
5. Does the report include competitive benchmarking of Global Thermoplastic Elastomers TPE Material Market?
Answer: Yes, Global Thermoplastic Elastomers TPE Material Market report compares major players based on revenue, product portfolio, innovation, and regional presence. This helps assess competitive positioning.
6. Can I access country-level data within the Global Thermoplastic Elastomers TPE Material Market report?
Answer: Yes, Global Thermoplastic Elastomers TPE Material Market report includes detailed data by country, especially for key markets. This allows for localized insights and decision-making.
7. Can I get customized insights or data from the Global Thermoplastic Elastomers TPE Material Market report?
Answer: Yes, we offer customization options to align with your specific business needs. You can request tailored sections or regional breakdowns.
🔐 Secure Payment Guaranteed
Safe checkout with trusted global payment methods.
🌟 Why Choose Infinity Market Research?
At Infinity Market Research, we dont just deliver data — we deliver clarity, confidence, and competitive edge.
In a world driven by insights, we help businesses unlock the infinite potential of informed decisions.
Here why global brands, startups, and decision-makers choose us:
Industry-Centric Expertise
With deep domain knowledge across sectors — from healthcare and technology to manufacturing and consumer goods — our team delivers insights that matter.
Custom Research, Not Cookie-Cutter Reports
Every business is unique, and so are its challenges. Thats why we tailor our research to your specific goals, offering solutions that are actionable, relevant, and reliable.
Data You Can Trust
Our research methodology is rigorous, transparent, and validated at every step. We believe in delivering not just numbers, but numbers that drive real impact.
Client-Centric Approach
Your success is our priority. From first contact to final delivery, our team is responsive, collaborative, and committed to your goals — because you re more than a client; you re a partner.
