- In April 2023, Asahi Kasei Plastics North America, Inc., a key player in advanced engineered polymers and polypropylene, merged with Asahi Kasei Asaclean Americas, a leading supplier of purging compounds and concentrates. This merger, resulting in the formation of APNA headquartered in Fowlerville, Michigan, is expected to enhance their manufacturing capabilities, streamline operations, and strengthen their position in the thermoplastic elastomers market by offering more efficient and high-quality production services
- In January 2023, Arkema signed a long-term agreement with ENGIE to supply 300 GWh/year of renewable biomethane in France, one of Europe’s largest private biomethane deals. This partnership aligns with Arkema's commitment to sustainability, as it will significantly reduce the carbon footprint of its bio-based Rilsan polyamide 11 and Pebax Rnew elastomers. The deal positions Arkema to meet growing demand for eco-friendly materials, strengthening its market presence in the bio-based thermoplastic elastomers segment
- In May 2021, Avient announced the addition of three proprietary thermoplastic elastomer (TPE) formulations with antimicrobial additives to its GLS TPE portfolio. These formulations, tested in accordance with JIS Z2801 and ASTM G21-15 standards, provide enhanced protection for molded plastic parts by inhibiting bacterial growth (99.9% or more) and resisting fungal and mold growth. This innovation strengthens Avient's position in the TPE market by addressing growing demand for antimicrobial materials, particularly in industries such as healthcare, consumer goods, and food packaging
Frequently Asked Questions
Asia-Pacific is the fastest growing region in the global thermoplastic elastomers market due to increasing industrialization, rising demand for sustainable materials, and growing awareness of TPE's superior properties.
Rising adoption of bio-based thermoplastic elastomer is emerging as a pivotal trend driving the global thermoplastic elastomers market.
The major factor driving the growth of the thermoplastic elastomers market is expansion of automotive industry.
The primary challenge includes fluctuating raw material prices.
The automotive segment is expected to dominate the global thermoplastic elastomers market holding a major market share in 2025.
