Automotive Thermoplastic Elastomers industry analysis research and trends report for 2017- 2024

Automotive Thermoplastic Elastomers (TPE) Market size may have positive outlook in manufacturing bumper, internal lining, foot mats and external styling car body.

TPE can be extruded, moulded and re- used like plastic whereas it also has elastic properties of elastomer. It returns to original form due to cross linking bond in thermoplastic imparting high elastic property. Commercial grade thermoplastic elastomers are styrene block copolymers (TPE-s), Vulcanised Elastomeric alloys (TPE-V or TPV), Thermoplastic olefins (TPE-o), Thermoplastic polyester (TPE-e), Thermoplastic polyamide and Thermoplastic Polyurethane (TPU).

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TPE products are manufactured by three methods which includes extrusion & injection compression and blow moulding. Injection moulding is used to produce solid complex shape products. It also finds application in accurate precision and high-volume products ranging from medium to low sizes. Blow moulding has wide application scope in hollow shapes such as bottles, pottery and containers manufacturing Compression moulding is used in automobile body parts, kitchen ware and toys production. 

Automotive thermoplastic elastomers are easily moulded and used in radiator hose, wire cable, bumper guard, under hood, seat covers, window encapsulation and internal automotive parts production. They are light in weight and improves automotive fuel efficient. Global automotive industry is poised to surpass 110 million units by 2024. Increasing consumers spending on luxury cars with aesthetic features and high quality automotive parts is likely to stimulate product demand. Expanding automotive sector mainly in India and China should fuel automotive thermoplastic elastomers demand thereby propelling industry growth.

Styrene block copolymers (TPE-s) are light in weight, cheap and recyclable & reusable thereby replacing Ethylene Propylene Diene Monomer (EPDM) in automotive sector. Initially TPE-s was used in fixed seals and fixed glass encapsulation whereas later scope widened to glass run channels, belt lines and door seals. They exhibit high fire & flame resistance and are used as covering for electrical cable insulation in car.

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Thermoplastic polyurethane is extensively used in caster wheels and automobile instrument panel due to high elasticity, shear strength and abrasion resistance properties TPU is also used in synthetic leather production which is used in car seat covers. It provides high structural integrity level and has wide application scope in vehicle body side moulding. TPV has high thermal resistance and used in high performance tires manufacturing in turn extend tire life & strength thereby promoting automotive thermoplastic elastomers demand.

Thermoplastic olefins are tough and scratch resistant which is likely to promote its usage in insulation panes in cars, bumpers and interior head liners in car ceiling. TPO absorbs noise & vibration and is used in vibration dampers and interior liners in car ceiling. Rise in high quality automotive demand along with large scale automotive production may stimulate automotive thermoplastic elastomers demand.

Vulcanised Elastomeric alloys have high resistance to harsh climate, chemical exposure and are light weight. Therefore, TPV is used as in suspension bellows, plugs, bumpers and cable jackets and slowly replacing EPDM.

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Asia Pacific led by Japan, China and India, automotive thermoplastic elastomers market size may witness significant growth due to rapid industrialisation and, increase in population Government initiatives along with foreign investments and availability of skilled & cheap labour has led OEM to shift their manufacturing base mainly in India and China thereby contributing towards regional growth. Japanese automobile company Toyota, Mazda, Mitsubishi and Honda are trendsetters in quality improvement & management in automotive sector. Expanding automotive sector may propel automotive thermoplastic elastomers demand.

Stringent government regulations led by EPA regarding fuel consumption and pollutant emission due to rising environmental concerns may favour product demand. Increasing recycle & re- usable polymer promotion is likely to drive automotive thermoplastic elastomers demand.

Styrene copolymers, polyurethane, polyester and olefins availability is dependent on petroleum industry. Fluctuating raw materials price may hamper industry profitability thereby affecting automotive thermoplastic elastomers price trends.

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