Styrenic block copolymers (SBCs) will remain the leading thermoplastic elastomer (TPE) through 2019, according to a newly released report – "World Thermoplastic Elastomers" – from US market researcher Freedonia (Cleveland, Ohio; www.freedoniagroup.com). However, demand for SBCs will grow below the average pace of TPEs overall, limited by a high degree of market saturation in many large-volume applications.

Continuing substitution of traditional elastomers and thermoplastics in various applications, the ongoing trend for vehicle lightweighting, and rising adoption of TPEs in developing countries will drive future growth, according to Freedonia. However, gains will also be limited by the highly mature and slower growing markets of footwear and motor vehicle bumpers. The fastest growth is expected for thermoplastic vulcanisates (TPVs), which Freedonia said are penetrating new applications in motor vehicle, consumer and medical product markets.

Global demand for TPEs is forecast to rise by 5.2% per year to reach 6.7m t in 2019, valued at more than USD 24 bn. Asia-Pacific will remain the largest market, growing at an annual rate of 6.5% to reach 3.3m t by 2019. China, the world’s largest consumer of TPEs in volume terms, will see growth of nearly 8% per year. Southeast Asia and India will see robust expansion in TPE use, but the Japanese market will remain sluggish.

Demand in the Middle East and Africa, where per capita consumption of TPE is the lowest in the world, will also rise above average rates. Western Europe and North America will see healthy growth of 3.6% and 3.8%, respectively through 2019, although the pace has slowed from that seen in 2009-2014. Freedonia expects these two regions to account for a smaller share of global TPE demand.