Thermoplastics are plastic polymer that becomes soft on heating and hard when cooled. They can be moulded to any shape by heating at room temperature. They are used extensively in end-user industries, owing to their properties like wear-tear resistance, scratch resistance, heat stability, etc.
Polypropylene is the most produced thermoplastic, followed by Polyvinyl chloride.Market Dynamics
Currently, the global market for Thermoplastics production is estimated around 242.67 million tonnes and is expected to grow at a CAGR of around 4.1% to reach to 301.66 million tonnes by 2022.
Thermoplastics find application in number of industries like packaging, Electrical & electronics, building & construction, automotive & transportation, Sports & leisure, furniture & bedding, and a number of other segments.
Recent advancements and technological innovations in thermoplastic elastomers have made them quite apt for under-the-hood applications, such as clamps, belts & hoses and fuel lines. Increased demand for such products have fuelled the growth of global market for thermoplastics.
Inspite of all the market drivers that we have analysed so far, strict regulatory standards related to environmental concerns such as carbon emissions, along with other macro & micro economic factors like product commoditization and fluctuation of crude oil prices, are expected to hinder the growth of the global market.Market Segmentation
Amongst all the thermoplastics, elastomers accounts for the largest market share, where Styrenic block copolymers are the high-performers. SBCs are elastomers that are engineered to improve the performance of end products in several industries. The rubber and the footwear industry are an important end user of SBCs.
By end-user, the automotive industry segment leads the global market for thermoplastics. Thermoplastics are used in the manufacturing of wipers, exterior filler panels, body seals, rocker panels, door & window handles, vibration damping pads of automobiles and other exterior parts.
Currently, Asia-Pacific dominates the global market for thermoplastics in terms of market share, followed by North America and Europe. Owing to the increasing disposable income and growing purchasing power across emerging economies, the developing regions of Asia Pacific and South America are expected to witness the fastest growth in the years to come.
Over the forecasted period, Middle East region is expected to emerge as the largest exporter given its competitive pricing globally, while China will emerge as the largest consumption market.
In the Asia Pacific region, apart from China, India and Japan are also major markets for thermoplastic attributing to the rapid development in manufacturing & construction industry.Key Players
The leading players in the global market for thermoplastics are - Asahi Kasei Corporation (China),Arkema SA (France), Covestro AG (Germany), Kraton Corporation (U.S.), Evonik Industries AG (Germany), Lubrizol Corporation (U.S.), PolyOne Corporation (U.S.), LyondellBasell Industries N.V. (Netherlands), Teknor Apex Company (U.S.), Sinopec Group (China), Tosoh Corporation (Japan), The Dow Chemical Company (U.S.), and others.Report Contents
> Market segments
> Market Drivers, Restraints and Opportunities
> Market Size & Forecast 2016 to 2022
> Supply & Demand Value Chain
> Market - Current Trends
> Competition & Major Companies
and R&D Status
> Porters Five Force Analysis
> Strategic and Critical Success Factor Analysis of Key PlayersRegional Analysis:
> North America
>> US and Canada
> Latin America
>> Mexico, Brazil, Argentina and Rest of Latin America
> Western Europe
>> EU5 (Germany, France, Italy, Spain, U.K.)
>> Nordic Countries (Denmark, Finland, Norway, and Sweden)
>> Benelux (Belgium, The Netherlands, and Luxembourg)
>> Rest of Western Europe
> Eastern Europe
>> Rest of Eastern Europe
> Asia Pacific
>> Australia and New Zealand
>> Rest of Asia Pacific
> Middle East and Africa
>> GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
>> South Africa
>> North Africa
>> Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.Report Highlights:
> Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
> Consumer and Pricing Analysis
> Market dynamics of the industry
> Market Segmentation
> Estimated Market Sizing in terms of volume and value
> Recent trends in Market and impact
> Research Status and Technology
> Extensive Industry Structure Coverage
Publisher Name : Market Litmus