DUBLIN--(BUSINESS WIRE)--Sep 4, 2018--The "North America Thermoplastic Elastomers (TPE) Market - Segmentation by Product Type, Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.

The North American thermoplastic elastomers (TPE) market was valued at USD 4.3 billion in 2017 is expected to expand at a CAGR of 5.22% during 2018-2023.

The thermoplastic elastomers (TPE) market will benefit from the growing automotive industry and increasing R&D efforts. Also, growing segments, such as bio TPEs, are emerging commercially and will prove to be very effective due to cleanliness of the bio material and harmless wastage.

Growing Demand from Automotive Industry

TPEs are not only cheaper than metals but also help to make automobiles more energy-efficient by reducing the weight, in addition to providing durability, corrosion resistance, toughness, design flexibility, resiliency, and high performance at low cost.

The light weight of TPE (special plastics) helps in making more fuel-efficient vehicles. Every 10% reduction in vehicle weight is estimated to result in a 5-7% reduction in fuel usage.

North America is witnessing huge demand for lightweight automobiles, driven by the growing consumer preference for high-quality fuel-efficient automobiles, thus increasing the utilization of TPE resins for manufacturing automobiles.

Other Key Highlights

Rising Demand from the Building & Construction Sector United States to Lead the Market

Notable Market Development

Mitsui Chemicals to set up production plant for Milastomer in the United States.

Key Topics Covered

1. Introduction

2. Executive Summary

3. Market Insights

4. Market Dynamics

5. Market Segmentation and Analysis

6. Regional Market Analysis

7. Competitive Landscape

8. Company Profiles

BASF SE Lyondell Basell Ineos Olefins & Polymers Total Petrochemicals Akzonobel N.V. Bayer MS ExxonMobil Chemical Co. Afton Chemical Corporation Chemtura Corp. SINOPEC Corp. Braskem SA Innospec Inc. Cummins Inc. Total SAA Total Petrochemicals & Refining USA Inc. Evonik Industries Chevron Phillips Chemical Co. SABIC SIBUR Mitsui Chemicals Mitsubishi Chemical Holdings Corporation Wanhua Chemical Group Company Limited Schulman Incorporated Royal DSM Arkema SA DowDuPont Huntsman Corporation PolyOne Corporation LG Chemicals Nippon Kraton Dynasol Dushanzi

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Related Topics:Rubber

KEYWORD: NORTH AMERICA

INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 09/04/2018 04:56 PM/DISC: 09/04/2018 04:56 PM

http://www.businesswire.com/news/home/20180904005876/en