BASF SE And The Dow Chemical Company Are Dominating The Market For Global Thermoplastic Elastomers Market in 2016

Global Thermoplastic Elastomers Market is expected to reach 7,505.08 tonnes by 2024 from 5,100.00 tonnes in 2016, at a CAGR of 5.1% in the forecast period 2017 to 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024. Styrene-isoprene-styrene market with highest market share  has the largest market segment in thermoplastic elastomers market.

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The global thermoplastic elastomers market is highly concentrated to a few big players and rest to local players who cater to domestic markets only. BASF SE dominates thermoplastic elastomers market, accounting for the highest market share in 2016, followed by The Dow Chemical Company and LyondellBasell Industries. Other players in this market include Arkema Sa, Evonik Industries AG, Covestro AG, China Petrochemical Corporation, Huntsman International Llc., Tosoh Corporation, Kraton Corporation, Exxon Mobil Corporation, TSRC, Polyone, LCY Group, Celanese Corporation, LG Chem, Asahi Kasei Corporation, Teknor Apex, The Lubrizol Corporation, among others holds 44.1% of the global thermoplastic elastomers market in 2016.

BASF SE:

Founded in 1865 and headquartered at Ludwigshafen, Germany. BASF create chemistry for a sustainable future. The company operates in five business segment namely chemicals, performance products, functional materials & solutions, agricultural solutions and oil & gas.

The Dow Chemical Company:

Founded in 1897 and headquartered at Midland, Michigan, U.S. Dow combines the power of science and technology to passionately innovate what is essential to human progress. The company operates in five business segment namely performance plastic, performance materials & chemicals, infrastructure solution, consumer solution and agriculture sciences. The performance plastic segment offer wide variety of thermoplastic elastomers.

LyondellBasell Industries:

Founded in 2007 and headquartered at Rotterdam, Netherlands. LyondellBasell is one of the largest plastics, chemicals and refining companies in the world. Company produces materials and products that are key to advancing solutions to modern challenges like enhancing food safety through lightweight and flexible packaging, protecting the purity of water supplies through stronger and more versatile pipes, and improving the safety, comfort and fuel efficiency of many of the cars and trucks on the road.

Recent Developments:

  1. In July, 2017, LyondellBasell launched a new grade in its “Purell” family of products. Purell "KT MR 07” is the first polybutene-1 (PB-1)-based resin that targets markets in flexible and transparent healthcare applications, such as medical tubing and intravenous (IV) infusion bags