Brazil Thermoplastic Elastomers Market Size & Outlook
Brazil thermoplastic elastomers market, 2018-2030 (US$M)
Related Markets
Brazil thermoplastic elastomers market highlights
- The Brazil thermoplastic elastomers market generated a revenue of USD 683.1 million in 2023 and is expected to reach USD 1,136.7 million by 2030.
- The Brazil market is expected to grow at a CAGR of 7.5% from 2024 to 2030.
- In terms of segment, automotive was the largest revenue generating application in 2023.
- Medical is the most lucrative application segment registering the fastest growth during the forecast period.
Thermoplastic elastomers market data book summary
| Market revenue in 2023 | USD 683.1 million |
| Market revenue in 2030 | USD 1,136.7 million |
| Growth rate | 7.5% (CAGR from 2023 to 2030) |
| Largest segment | Automotive |
| Fastest growing segment | Medical |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Automotive, Electrical & Electronics, Industrial, Medical, Consumer Goods |
| Key market players worldwide | Basf SE, Arkema SA, DuPont de Nemours Inc, Covestro AG, China Petrochemical Development, Dynasol Group, Ems-Chemie Holding AG, Evonik Industries AG, LG Chem, LCY Chemical, The Lubrizol Corp, LyondellBasell Industries NV Class A, Tosoh Corp, Avient Corp, Teknor Apex, Dow Chemical, TSRC,Inc/dba Frank Parsons Co |
Other key industry trends
- In terms of revenue, Brazil accounted for 2.7% of the global thermoplastic elastomers market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil thermoplastic elastomers market is projected to lead the regional market in terms of revenue in 2030.
- Brazil is the fastest growing regional market in Latin America and is projected to reach USD 1,136.7 million by 2030.
Automotive was the largest segment with a revenue share of 44.97% in 2023. Horizon Databook has segmented the Brazil thermoplastic elastomers market based on automotive, electrical & electronics, industrial, medical, consumer goods covering the revenue growth of each sub-segment from 2018 to 2030.
As the largest economy in CSA, Brazil is experiencing a rising demand for electricity, driven by its expanding industrial sector, growing urban population, and increasing economic activities. To meet this demand sustainably, Brazil is shifting toward renewable energy sources, particularly solar and wind power.
The Brazilian government actively promotes renewable energy projects to reduce reliance on fossil fuels and minimize environmental impact, which is expected to boost the TPE market. In March 2023, Brazil announced plans to invest BRL 50 billion (approximately USD 9.5 billion) in its power grid to enhance the integration of renewable energy sources, thereby focusing on wind and solar power.
These investments will help expand renewable energy capabilities, particularly in the North of Minas Gerais and the Northeast region. The development of hybrid renewable energy complexes, combining different renewable sources under one network, is a key initiative.
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Thermoplastic Elastomers Market Scope
Thermoplastic Elastomers Market Companies
| Name | Profile | # Employees | HQ | Website |
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Brazil thermoplastic elastomers market size, by application, 2018-2030 (US$M)
Brazil Thermoplastic Elastomers Market Outlook Share, 2023 & 2030 (US$M)
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