Global Thermoplastic Elastomers Market Size & Outlook
The global thermoplastic elastomers market size was estimated at USD 30,376.5 million in 2025 and is projected to reach USD 57,637.4 million by 2033, growing at a CAGR of 8.6% from 2026 to 2033.
Revenue, 2025 (US$M)
$30,376.5
Forecast, 2033 (US$M)
$57,637.4
CAGR, 2026 - 2033
8.6%
Report Coverage
Worldwide
Global thermoplastic elastomers market, 2021-2033 (US$M)
Related Markets
Global thermoplastic elastomers market highlights
- The global thermoplastic elastomers market generated a revenue of USD 30,376.5 million in 2025 and is expected to reach USD 57,637.4 million by 2033.
- The market is expected to grow at a CAGR (2026 - 2033) of 8.6% by 2033.
- In terms of segment, automotive accounted for a revenue of USD 12,928.4 million in 2025.
- Medical is the most lucrative application segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2025.
- Country-wise, India is expected to register the highest CAGR from 2026 to 2033.
Global data book summary
| Market revenue in 2025 | USD 30,376.5 million |
| Market revenue in 2033 | USD 57,637.4 million |
| Growth rate | 8.6% (CAGR from 2026 to 2033) |
| Largest segment | Automotive |
| Fastest growing segment | Medical |
| Historical data covered | 2021 - 2024 |
| Base year for estimation | 2025 |
| Forecast period covered | 2026 - 2033 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Industrial, Consumer Goods, Electrical & Electronics, Medical, Automotive |
Other key industry trends
- In terms of revenue, the North America accounted for 34.2% of the global thermoplastic elastomers market in 2025.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2033.
- By country, India is the fastest growing regional market and is projected to reach USD 3,736.6 million by 2033.
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Thermoplastic Elastomers Market Scope
Thermoplastic elastomers market segmentation & scope
Thermoplastic Elastomers Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Dow Chemical | View profile | - | - | |
| China Petrochemical Development | View profile | 1001-5000 | Kaohsiung, T'ai-wan, Taiwan, Asia | https://www.cpdc.com.tw/ |
| TSRC,Inc/dba Frank Parsons Co | View profile | 251-500 | Ashland, Virginia, United States, North America | http://frankparsons.com |
| LCY Chemical | View profile | 501-1000 | Taiwan, Jiangsu, China, Asia | http://www.lcygroup.com/lcy/en/ |
| Tosoh Corp | View profile | 14266 | 3-8-2 Shiba, Minata-ku, Tokyo, Japan, 105-8623 | http://www.tosoh.com |
| Dynasol Group | View profile | 1001-5000 | Madrid, Madrid, Spain, Europe | http://dynasolgroup.com/ |
| Ems-Chemie Holding AG | View profile | 2736 | Via Innovativa 1, Domat/Ems, Switzerland, 7013 | https://www.ems-group.com |
| LG Chem | View profile | 10001+ | Seoul, Seoul-t'ukpyolsi, South Korea, Asia | https://www.lgchem.com |
| The Lubrizol Corp | View profile | 5001-10000 | Wickliffe, Ohio, United States, North America | http://www.lubrizol.com/ |
| DuPont de Nemours Inc | View profile | 24000 | 974 Centre Road, Building 730, Wilmington, DE, United States, 19805 | https://www.dupont.com |
| LyondellBasell Industries NV Class A | View profile | 20000 | One Vine Street, 4th Floor, London, United Kingdom, W1J0AH | https://www.lyondellbasell.com |
| Teknor Apex | View profile | 1001-5000 | Pawtucket, Rhode Island, United States, North America | http://www.teknorapex.com/ |
| Avient Corp | View profile | 9300 | 33587 Walker Road, Avon Lake, OH, United States, 44012 | https://www.avient.com |
| Covestro AG | View profile | 17520 | Kaiser-Wilhelm-Allee 60, Leverkusen, NW, Germany, 51373 | https://www.covestro.com/en |
| Arkema SA | View profile | 11039 | 420 rue d’Estienne d’Orves, Colombes, France, 92700 | https://www.arkema.com |
| Evonik Industries AG | View profile | 33409 | Rellinghauser Strasse 1-11, Essen, NW, Germany, 45128 | https://www.evonik.com |
| Basf SE | View profile | 111855 | Carl-Bosch-Strasse 38, Ludwigshafen am Rhein, Germany, 67056 | https://www.basf.com |
Global thermoplastic elastomers market size, by regions, 2021-2033 (US$M)
Top 10 countries: Thermoplastic elastomers market size, 2025 (US$M)
Global thermoplastic elastomers market share, by material, 2025 & 2033 (%, US$M)
Thermoplastic elastomers market: Opportunity assessment by country
Global thermoplastic elastomers market, by region, 2025 (US$M)
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