Market Forecast by Regions and Countries (North America, Europe, LATAM, Middle East, Asia and Africa), By Products (Thermoplastic Polyurethane, Thermoplastic Vulcanizates, Thermoplastic Polyolefins, Copolymer Esters, Styrene Block Copolymer, Others), By End users (Automotive & Transportation, Building & Construction, Appliances & Whitegoods, Footwear, Others) And Competitive Landscape
| Product Code: ETC13408465 | Publication Date: Apr 2025 | Updated Date: Oct 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Bhawna Singh | No. of Pages: 190 | No. of Figures: 80 | No. of Tables: 40 |
According to 6Wresearch internal database and industry insights, the Global Thermoplastic Elastomers Market was valued at USD 22.9 Billion in 2024 and is expected to reach USD 33.4 Billion by 2031, growing at a compound annual growth rate of 4.30% during the forecast period (2025-2031).
According to 6Wresearch internal database and industry insights, the Global Thermoplastic Elastomers Market was valued at USD 22.9 Billion in 2024 and is expected to reach USD 33.4 Billion by 2031, growing at a compound annual growth rate of 7.2% during the forecast period (2025-2031).
| Report Name | Global Thermoplastic Elastomers Market |
| Forecast Period | 2025-2031 |
| Market Size | USD 33.4 Billion by 2031 |
| CAGR | 7.2% |
| Growing Sector | Automotive & Transportation |
Global Thermoplastic Elastomers Market report thoroughly covers the market by regions and countries, products, end-users, and applications. The market report provides an unbiased and detailed analysis of ongoing market trends, opportunities/high growth areas, and market drivers, helping stakeholders devise and align their market strategies according to the current and future market dynamics.
The global thermoplastic elastomers market is expected to grow robustly. The market growth is driven by growing demand for flexible, lightweight, and eco-friendly materials in multiple industries. The TPE adoption is mainly driven by increasing infrastructure activities and a rise in automation production. Further, innovations, growing environmental regulations, and innovations in polymer blends are creating growth opportunities. The rise in growing economies and the enhancement of advanced manufacturing processes are further fueling Global Thermoplastic Elastomers Market growth.
Below mentioned are some growth drivers and their impact on market dynamics:
| Drivers | Primary Segments Affected | Why It Matters |
| Lightweight & Fuel Efficiency | End Users (Automotive & Transportation) | Reduces vehicle weight, lowers emissions. |
| Sustainable & Recyclable Materials | Products (Thermoplastic Polyurethane, etc.) | Meets environmental regulations, lowers waste. |
| Growing Construction Sector | End Users (Building & Construction) | Boosts demand for flexible, durable sealing solutions. |
| Advanced Manufacturing Processes | Regions (Asia-Pacific, North America) | Enables cost-effective, large-scale production. |
| Increasing Consumer Appliances | End Users (Appliances & Whitegoods) | Drives demand for flexible, heat-resistant components. |
Global Thermoplastic Elastomers Market is expected to register a CAGR of 7.2% during the forecast period of 2025-2031. Major key drivers of this market include increasing demand of thermoplastic elastomers in construction and automotive sectors, driven by their lightweight and durable properties. Furthermore, increasing concerns regarding the environment are encouraging manufacturers to opt for environmentally friendly materials like thermoplastic elastomers. The growing usage of TPES in consumer goods and footwear is increasing their market presence. The material’s ease of processing and ability to replace traditional rubber increase its appeal across multiple high-growth sectors globally.
Below mentioned are some major restraints and their influence on market dynamics:
| Restraints | Primary Segments Affected | What This Means |
| Volatile Raw Material Prices | All Products | This Impacts production cost and pricing of the product. |
| Stringent Environmental Norms | All Regions | It Increases compliance and certification costs. |
| Intense Competition | End Users | Pressures margins and innovation cycles. |
| Technical Limitations | Products | Restricts usage in high-temperature or heavy-load applications. |
| Supply Chain Disruptions | Regions & Products | Causes delays and inventory shortages. |
Despite increasing demand, the Global Thermoplastic Elastomers Industry encounters obstacles, including fluctuating raw material prices that directly affect manufacturing costs and profitability. Additionally, technical constraints in extreme heat or heavy-load scenarios limit their applicability in some industrial sectors. Adherence to environmental and safety regulations complicates production processes. Fierce rivalry from substitute polymers and cost-effective regional competitors exerts additional pressure on price. Also, the amalgamation of TPEs for targeted high-performance results frequently necessitates substantial research and development effort, potentially constraining smaller entities.
Here are few market trends present in the market:
Following are key investment opportunities present in the market:
Here are top players significantly contributing to Global Thermoplastic Elastomers Market share:
| Company Name | Kuraray Co., Ltd. |
|---|---|
| Established Year | 1926 |
| Headquarters | Tokyo, Japan |
| Official Website | Click Here |
Kuraray is a global leader in TPE innovation, known for its advanced SEPTON® styrene block copolymers and polymer blends. The company’s thermoplastic elastomers are widely used across automotive, medical, and consumer goods industries, emphasizing sustainability and high performance.
| Company Name | Kraton Corporation |
|---|---|
| Established Year | 1952 |
| Headquarters | Houston, Texas, United States |
| Official Website | Click Here |
Kraton is a major producer of styrenic block copolymers and TPE compounds, serving industries such as automotive, adhesives, and footwear. The company focuses on developing sustainable and high-performance materials that deliver durability and flexibility in demanding applications.
| Company Name | BASF SE |
|---|---|
| Established Year | 1865 |
| Headquarters | Ludwigshafen, Germany |
| Official Website | Click Here |
BASF provides a comprehensive range of thermoplastic elastomers, including polyurethanes and vulcanizates, catering to sectors like construction, automotive, and consumer goods. The company’s TPE portfolio emphasizes innovation, process efficiency, and recyclability.
| Company Name | Celanese Corporation |
|---|---|
| Established Year | 1918 |
| Headquarters | Irving, Texas, United States |
| Official Website | Click Here |
Celanese delivers engineered thermoplastic elastomers and copolymer esters that offer lightweight, durable, and high-performance solutions. The company serves industrial, automotive, and consumer markets, focusing on innovation and sustainability.
| Company Name | Dynasol Elastomers S.A. de C.V. |
|---|---|
| Established Year | 2000 |
| Headquarters | Mexico City, Mexico |
| Official Website | Click Here |
Dynasol Elastomers specializes in styrenic block copolymers and thermoplastic vulcanizates (TPVs), offering flexible, high-performance TPE solutions. Its products are widely used in the automotive, footwear, and industrial sectors, with a focus on versatility and sustainability.
Numerous governmental initiatives globally advocate for the utilization of sustainable and energy-efficient materials. The U.S. Environmental Protection Agency’s (EPA) Sustainable Materials Management program promotes the utilization of recyclable polymers to reduce landfill trash. The European REACH law enforces rigorous chemical safety regulations for polymer additives. The China Green Building Action Plan further advocates for the utilization of sustainable construction materials, hence augmenting TPE demand in insulation and sealing applications. These policies jointly compel manufacturers to innovate and adhere to environmental and safety norms.
The Global Thermoplastic Elastomers Market outlook remains strong with growing uses in automotive lightweighting, consumer electronics, and sustainable construction. Continued R&D on bio-based polymers and smart materials is set to unlock new opportunities. TPE integration with IoT and wearables will drive innovation, while rising infrastructure projects in developing regions will uphold demand. Revenue is expected to rise steadily through 2031, influenced by regulations and shifting end-user needs.
The report offers a comprehensive study of the subsequent market segments and their leading categories.
According to Guneet Kaur, Senior Research Analyst, 6Wresearch, Asia is the fastest-growing region due to rapid industrialization, expanding automotive production, and a booming construction sector. Increasing infrastructure development and demand for cost-effective, high-performance materials across developing nations continue to drive significant market growth.
Thermoplastic Vulcanizates (TPVs) are growing swiftly due to their excellent elasticity, resistance to oil and heat, and recyclability. Their rising demand in automotive under-the-hood applications and sealing systems positions them as an ideal choice for sustainable and durable polymer solutions across industries.
The footwear industry is rapidly adopting TPEs for lightweight, flexible, and durable soles. Their soft texture, design adaptability, and recyclability make them ideal for both sports and casual footwear, supporting growing consumer demand for comfort, aesthetics, and eco-friendly alternatives.
The report subsequently covers the market by the following segments and subsegments:
North America
| Global Thermoplastic Elastomers Market |
| 1 Executive Summary |
| 2 Introduction |
| 2.1 Key Highlights of the Report |
| 2.2 Report Description |
| 2.3 Market Scope & Segmentation |
| 2.4 Research Methodology |
| 2.5 Assumptions |
| 3 Global Thermoplastic Elastomers Market Overview |
| 3.1 Global Regional Macro Economic Indicators |
| 3.2 Global Thermoplastic Elastomers Market Revenues & Volume, 2021 & 2031F |
| 3.3 Global Thermoplastic Elastomers Market - Industry Life Cycle |
| 3.4 Global Thermoplastic Elastomers Market - Porter's Five Forces |
| 3.5 Global Thermoplastic Elastomers Market Revenues & Volume Share, By Regions, 2021 & 2031F |
| 3.6 Global Thermoplastic Elastomers Market Revenues & Volume Share, By Products, 2021 & 2031F |
| 3.7 Global Thermoplastic Elastomers Market Revenues & Volume Share, By End users, 2021 & 2031F |
| 4 Global Thermoplastic Elastomers Market Dynamics |
| 4.1 Impact Analysis |
| 4.2 Market Drivers |
| 4.3 Market Restraints |
| 5 Global Thermoplastic Elastomers Market Trends |
| 6 Global Thermoplastic Elastomers Market, 2021 - 2031 |
| 6.1 Global Thermoplastic Elastomers Market, Revenues & Volume, By Products, 2021 - 2031 |
| 6.1.1 Overview & Analysis |
| 6.1.2 Global Thermoplastic Elastomers Market, Revenues & Volume, By Thermoplastic Polyurethane, 2021 - 2031 |
| 6.1.3 Global Thermoplastic Elastomers Market, Revenues & Volume, By Thermoplastic Vulcanizates, 2021 - 2031 |
| 6.1.4 Global Thermoplastic Elastomers Market, Revenues & Volume, By Thermoplastic Polyolefins, 2021 - 2031 |
| 6.1.5 Global Thermoplastic Elastomers Market, Revenues & Volume, By Copolymer Esters, 2021 - 2031 |
| 6.1.6 Global Thermoplastic Elastomers Market, Revenues & Volume, By Styrene Block Copolymer, 2021 - 2031 |
| 6.1.7 Global Thermoplastic Elastomers Market, Revenues & Volume, By Others, 2021 - 2031 |
| 6.2 Global Thermoplastic Elastomers Market, Revenues & Volume, By End users, 2021 - 2031 |
| 6.2.1 Overview & Analysis |
| 6.2.2 Global Thermoplastic Elastomers Market, Revenues & Volume, By Automotive & Transportation, 2021 - 2031 |
| 6.2.3 Global Thermoplastic Elastomers Market, Revenues & Volume, By Building & Construction, 2021 - 2031 |
| 6.2.4 Global Thermoplastic Elastomers Market, Revenues & Volume, By Appliances & Whitegoods, 2021 - 2031 |
| 6.2.5 Global Thermoplastic Elastomers Market, Revenues & Volume, By Footwear, 2021 - 2031 |
| 6.2.6 Global Thermoplastic Elastomers Market, Revenues & Volume, By Others, 2021 - 2031 |
| 6.3.1 Overview & Analysis |
| 7 North America Thermoplastic Elastomers Market, Overview & Analysis |
| 7.1 North America Thermoplastic Elastomers Market Revenues & Volume, 2021 - 2031 |
| 7.2 North America Thermoplastic Elastomers Market, Revenues & Volume, By Countries, 2021 - 2031 |
| 7.2.1 United States (US) Thermoplastic Elastomers Market, Revenues & Volume, 2021 - 2031 |
| 7.2.2 Canada Thermoplastic Elastomers Market, Revenues & Volume, 2021 - 2031 |
| 7.2.3 Rest of North America Thermoplastic Elastomers Market, Revenues & Volume, 2021 - 2031 |
| 7.3 North America Thermoplastic Elastomers Market, Revenues & Volume, By Products, 2021 - 2031 |
| 7.4 North America Thermoplastic Elastomers Market, Revenues & Volume, By End users, 2021 - 2031 |
| 8 Latin America (LATAM) Thermoplastic Elastomers Market, Overview & Analysis |
| 8.1 Latin America (LATAM) Thermoplastic Elastomers Market Revenues & Volume, 2021 - 2031 |
| 8.2 Latin America (LATAM) Thermoplastic Elastomers Market, Revenues & Volume, By Countries, 2021 - 2031 |
| 8.2.1 Brazil Thermoplastic Elastomers Market, Revenues & Volume, 2021 - 2031 |
| 8.2.2 Mexico Thermoplastic Elastomers Market, Revenues & Volume, 2021 - 2031 |
| 8.2.3 Argentina Thermoplastic Elastomers Market, Revenues & Volume, 2021 - 2031 |
| 8.2.4 Rest of LATAM Thermoplastic Elastomers Market, Revenues & Volume, 2021 - 2031 |
| 8.3 Latin America (LATAM) Thermoplastic Elastomers Market, Revenues & Volume, By Products, 2021 - 2031 |
| 8.4 Latin America (LATAM) Thermoplastic Elastomers Market, Revenues & Volume, By End users, 2021 - 2031 |
| 9 Asia Thermoplastic Elastomers Market, Overview & Analysis |
| 9.1 Asia Thermoplastic Elastomers Market Revenues & Volume, 2021 - 2031 |
| 9.2 Asia Thermoplastic Elastomers Market, Revenues & Volume, By Countries, 2021 - 2031 |
| 9.2.1 India Thermoplastic Elastomers Market, Revenues & Volume, 2021 - 2031 |
| 9.2.2 China Thermoplastic Elastomers Market, Revenues & Volume, 2021 - 2031 |
| 9.2.3 Japan Thermoplastic Elastomers Market, Revenues & Volume, 2021 - 2031 |
| 9.2.4 Rest of Asia Thermoplastic Elastomers Market, Revenues & Volume, 2021 - 2031 |
| 9.3 Asia Thermoplastic Elastomers Market, Revenues & Volume, By Products, 2021 - 2031 |
| 9.4 Asia Thermoplastic Elastomers Market, Revenues & Volume, By End users, 2021 - 2031 |
| 10 Africa Thermoplastic Elastomers Market, Overview & Analysis |
| 10.1 Africa Thermoplastic Elastomers Market Revenues & Volume, 2021 - 2031 |
| 10.2 Africa Thermoplastic Elastomers Market, Revenues & Volume, By Countries, 2021 - 2031 |
| 10.2.1 South Africa Thermoplastic Elastomers Market, Revenues & Volume, 2021 - 2031 |
| 10.2.2 Egypt Thermoplastic Elastomers Market, Revenues & Volume, 2021 - 2031 |
| 10.2.3 Nigeria Thermoplastic Elastomers Market, Revenues & Volume, 2021 - 2031 |
| 10.2.4 Rest of Africa Thermoplastic Elastomers Market, Revenues & Volume, 2021 - 2031 |
| 10.3 Africa Thermoplastic Elastomers Market, Revenues & Volume, By Products, 2021 - 2031 |
| 10.4 Africa Thermoplastic Elastomers Market, Revenues & Volume, By End users, 2021 - 2031 |
| 11 Europe Thermoplastic Elastomers Market, Overview & Analysis |
| 11.1 Europe Thermoplastic Elastomers Market Revenues & Volume, 2021 - 2031 |
| 11.2 Europe Thermoplastic Elastomers Market, Revenues & Volume, By Countries, 2021 - 2031 |
| 11.2.1 United Kingdom Thermoplastic Elastomers Market, Revenues & Volume, 2021 - 2031 |
| 11.2.2 Germany Thermoplastic Elastomers Market, Revenues & Volume, 2021 - 2031 |
| 11.2.3 France Thermoplastic Elastomers Market, Revenues & Volume, 2021 - 2031 |
| 11.2.4 Rest of Europe Thermoplastic Elastomers Market, Revenues & Volume, 2021 - 2031 |
| 11.3 Europe Thermoplastic Elastomers Market, Revenues & Volume, By Products, 2021 - 2031 |
| 11.4 Europe Thermoplastic Elastomers Market, Revenues & Volume, By End users, 2021 - 2031 |
| 12 Middle East Thermoplastic Elastomers Market, Overview & Analysis |
| 12.1 Middle East Thermoplastic Elastomers Market Revenues & Volume, 2021 - 2031 |
| 12.2 Middle East Thermoplastic Elastomers Market, Revenues & Volume, By Countries, 2021 - 2031 |
| 12.2.1 Saudi Arabia Thermoplastic Elastomers Market, Revenues & Volume, 2021 - 2031 |
| 12.2.2 UAE Thermoplastic Elastomers Market, Revenues & Volume, 2021 - 2031 |
| 12.2.3 Turkey Thermoplastic Elastomers Market, Revenues & Volume, 2021 - 2031 |
| 12.3 Middle East Thermoplastic Elastomers Market, Revenues & Volume, By Products, 2021 - 2031 |
| 12.4 Middle East Thermoplastic Elastomers Market, Revenues & Volume, By End users, 2021 - 2031 |
| 13 Global Thermoplastic Elastomers Market Key Performance Indicators |
| 14 Global Thermoplastic Elastomers Market - Export/Import By Countries Assessment |
| 15 Global Thermoplastic Elastomers Market - Opportunity Assessment |
| 15.1 Global Thermoplastic Elastomers Market Opportunity Assessment, By Countries, 2021 & 2031F |
| 15.2 Global Thermoplastic Elastomers Market Opportunity Assessment, By Products, 2021 & 2031F |
| 15.3 Global Thermoplastic Elastomers Market Opportunity Assessment, By End users, 2021 & 2031F |
| 16 Global Thermoplastic Elastomers Market - Competitive Landscape |
| 16.1 Global Thermoplastic Elastomers Market Revenue Share, By Companies, 2024 |
| 16.2 Global Thermoplastic Elastomers Market Competitive Benchmarking, By Operating and Technical Parameters |
| 17 Top 10 Company Profiles |
| 18 Recommendations |
| 19 Disclaimer |