Europe Thermoplastic Elastomers Market Size & Outlook
Europe thermoplastic elastomers market, 2018-2030 (US$M)
Related Markets
Europe thermoplastic elastomers market highlights
- The Europe thermoplastic elastomers market generated a revenue of USD 5,981.3 million in 2023.
- The market is expected to grow at a CAGR of 5.4% from 2024 to 2030.
- In terms of segment, automotive was the largest revenue generating application in 2023.
- Electrical & Electronics is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, France is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 5,981.3 million |
| Market revenue in 2030 | USD 8,651.8 million |
| Growth rate | 5.4% (CAGR from 2023 to 2030) |
| Largest segment | Automotive |
| Fastest growing segment | Electrical & Electronics |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, Europe region accounted for 23.8% of the global thermoplastic elastomers market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 14,813.0 million by 2030.
Automotive was the largest segment with a revenue share of 40.27% in 2023. Horizon Databook has segmented the Europe thermoplastic elastomers market based on automotive, electrical & electronics, industrial, medical, consumer goods covering the revenue growth of each sub-segment from 2018 to 2030.
Europe is one of the leading manufacturers of automobiles and is expected to continue its dominance in the sector over the forecast period.
The rising demand for lightweight electric and hybrid vehicles along with the presence of major automotive manufacturers, including AUDI AG, BMW AG, MercedesBenz AG, JAGUAR LAND ROVER LIMITED, ASTON MARTIN, Volkswagen, Volvo Car Corporation, FCA Italy S.p.A., Ferrari S.p.A., Automobili Lamborghini S.p.A., and Porsche Austria GmbH & Co. in the region is projected to expand the automotive industry, which, in turn, is expected to drive the demand for TPE in the automotive industry over the forecast period.
The rising geriatric population in European countries that are prone to sepsis, urinary incontinence, and interstitial cystitis is driving the need for medical tubing for catheters, resulting in a higher demand for TPE. For instance, according to the European Commission, in 2023, 448.8 million people in the EU were above the age of 65 years, which is 21.3% of the total population.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Thermoplastic Elastomers Market Scope
Thermoplastic Elastomers Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Europe thermoplastic elastomers market size, by country, 2018-2030 (US$M)
Europe Thermoplastic Elastomers Market Outlook Share, 2023 & 2030 (US$M)
Related regional statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
