TPE Market in India to Cross USD 900 Million by 2025
Market report: India Thermoplastic Elastomers Market By Type (Styrenic Block Copolymers, Thermoplastic Olefins, Thermoplastic Polyurethanes, etc.), By End Use Application (Automotive, Consumer Durables, etc.), Competition Forecast and Opportunities, 2011 – 2025, August 2016, PDF, 140 p., from USD 2,500.
According to a TechSci Research report, the TPE market in India is projected to cross USD 900 million by 2025 and to grow at a CAGR of around 7 % during 2016 – 2025. Styrenic block copolymers dominated India’s TPE market in 2015, and the segment is expected to continue dominating the market through 2025. During the forecast period, automotive industry is expected to emerge as the largest end user of TPEs in India, on account of increasing consumer preference for high performance and lightweight automobiles in the country. A major share in the demand for thermoplastic elastomers emanates from Tamil Nadu, Maharashtra, National Capital Region (NCR), Gujarat, Karnataka and Andhra Pradesh, among others.
Growing preference for recyclable and environment friendly polymers coupled with escalating demand from automotive and consumer durables sectors to drive India thermoplastic elastomers market through 2025, the report says. During 2011 – 2015, the production of passenger cars in India grew at a CAGR of 2.67 %, while the production of two-wheelers in the country exhibited a CAGR of 5.34 % during the same period. Regulatory intervention by environmental agencies aimed at carbon emission reduction through an increase in fuel efficiency has also made major automotive OEMs in India to increasingly opt for plastics as a substitute to metals and alloys in automotive components. Consequently, TPE demand has been growing from the country automobile sector over the last five years, and the … .
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