Cruising Ahead: Thermoplastic Copolyester Elastomers Revolutionizing the Automotive Sector

PUNE, MAHARASHTRA, INDIA, August 29, 2023/EINPresswire.com/ -- Prismane Consulting is excited to announce the launch of a new edition of its report, "Global Thermoplastic Copolyester Elastomers Market - 2023". The Global Thermoplastic Copolyester Elastomers Market study report represents months of diligent research, analysis, and collaboration among Prismane Consulting's dedicated team of consultants. This comprehensive study delves into the worldwide Thermoplastic Copolyester elastomers market, focusing on applications and end-use scenarios across various global economies. Key application sectors covered in the report comprise Automotive, Electrical & Electronics, Industrial, Medical, Personal Care, and more.

Thermoplastic Copolyester Elastomers are a category of thermoplastic elastomers and have emerged as a remarkable class of materials with a unique combination of plastic and rubber-like properties, rendering them invaluable in a wide range of industrial applications. Characterized by their exceptional physical, mechanical, and dynamic attributes, TPCs are swiftly gaining traction as substitutes for metals and traditional rubbers in various high-strength applications.

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Market Landscape:
The TPC market has witnessed steady growth, with global production capacity over 340 kilo tons in 2022. The United States, Japan, South Korea, and Western Europe experienced higher capacity utilization rates between 2016 and 2022. However, China faced challenges stemming from lower capacity utilization rates and idle production facilities, contributing to a global average capacity utilization between 50-55%. The COVID-19 pandemic further impacted the industry, with decreased automotive demand causing a 16% decline in global car production. A semiconductor chip shortage added to the woes for automotive manufacturers.
The global Thermoplastic Copolyester elastomers demand exceeded 150 kilo tons in 2022 and is projected to surpass 230 kilo tons by 2032, demonstrating a Compound Annual Growth Rate of 4% from 2023 to 2032.

Following are highlights of the key market trends pertaining to the demand growth of Thermoplastic Copolyester elastomers.

A Greener Future:
In an era characterized by global environmental consciousness, TPCs are poised to play a pivotal role in meeting the objectives of agreements like the Paris Climate Agreement. The shift towards these high-performance materials aligns with the automotive industry's pursuit of reduced greenhouse gas emissions. As a result, TPCs are expected to be a key enabler in the ongoing transition towards sustainability, offering solutions that merge performance and ecological responsibility.

Automotive Sector and Sustainability:
The automotive industry remains a pivotal driver of TPC demand, particularly for high-performance engineering components. TPC's ability to replace metals in various components, such as CVJ boots and air ducts, contributes to weight reduction and fuel efficiency, aligning with the industry's quest for lower emissions and enhanced energy efficiency. As the automotive sector shifts production to Asia-Pacific, TPC demand is anticipated to rise, driven by countries like China and India.

Manufacturing and Versatility:
TPCs are synthesized through a polycondensation process of long-chain ether or ester diols with chain extenders like butanediol and terephthalic acid. This chemical reaction results in a material with a blend of hard segments akin to polybutylene terephthalate (PBT) and soft segments of amorphous polyether. The ratio and molecular weight of these segments influence the final material properties, allowing for a wide spectrum of variations to suit diverse applications. TPCs are processed using established methods like injection moulding, compression moulding, extrusion, and rotational moulding, with processing conditions tailored to the melting temperatures and resulting morphology of the polymers.

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Regional Market Dynamics:

Asia-Pacific led the Thermoplastic Copolyester elastomers capacity landscape in 2022, accounting for over 60% of global capacity, which is further projected to rise to 67% by 2032. China and Taiwan together emerged as the dominant TPC producers in the region with an installed capacity of around 160 kilo tons in 2022. Notable manufacturers like Chang-Chung Group, Shinkong Group, Blue Ridge Tunhe Polyester Company, Hengli Group Shanghai, and Yitan New Material Co., Ltd. collectively controlled around 90% of China's total capacity. The Asia-Pacific region, with its burgeoning automotive industry, is projected to grow at a CAGR of 6% from 2023 to 2032, demand crossing the 100-kilo kilo ton by 2032.

Topics Covered
The report covers the following topics:
• Capacity Analysis
• Production
• Net Trade Analysis
• Demand Composition, by Applications
• Pricing Analysis
• Market Dynamics and much more.

Key Questions Answered
The Global Thermoplastic Copolyester Elastomers Market study answers the following key questions:
• How big is the Thermoplastic Copolyester Market?
• How is the demand for Thermoplastic Copolyester Elastomer evolving?
• What will the Thermoplastic Copolyester Elastomers Market size be in 2032 and at what rate will it grow?
• What trends, challenges and barriers are influencing its growth?
• What opportunities and target markets exist for Thermoplastic Copolyester Elastomers Market
To know more about Thermoplastic Copolyester elastomers visit www.prismaneconsulting.com or write to us at [email protected]

Tejas Shah
Prismane Consulting Private Limited
[email protected]