Germany Thermoplastic Elastomers Market Size & Outlook
Germany thermoplastic elastomers market, 2018-2030 (US$M)
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Germany thermoplastic elastomers market highlights
- The Germany thermoplastic elastomers market generated a revenue of USD 1,381.6 million in 2023 and is expected to reach USD 1,891.5 million by 2030.
- The Germany market is expected to grow at a CAGR of 4.6% 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 1,381.6 million |
| Market revenue in 2030 | USD 1,891.5 million |
| Growth rate | 4.6% (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, Germany accounted for 5.5% 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 Europe, Germany thermoplastic elastomers market is projected to lead the regional market in terms of revenue in 2030.
- France is the fastest growing regional market in Europe and is projected to reach USD 1,078.0 million by 2030.
Automotive was the largest segment with a revenue share of 43.83% in 2023. Horizon Databook has segmented the Germany thermoplastic elastomers market based on automotive, electrical & electronics, industrial, medical, consumer goods covering the revenue growth of each sub-segment from 2018 to 2030.
Germany is one of the most prominent automotive markets in Europe. According to the International Organization of Motor Vehicle Manufacturers, the country produced over 4.1 million vehicles in 2023. As a leading producer of passenger cars in the European Union (EU), Germany holds over 29% of the European automotive market.
These factors are expected to drive the thermoplastic elastomers (TPE) market growth over the forecast period. TPEs are extensively used in automotive applications, including seals, gaskets, weather stripping, interior trim, exterior body parts, HVAC components, vibration dampening, and wire insulation.
Their durability, flexibility, weather resistance, and aesthetic appeal contribute to enhanced vehicle performance, comfort, and reliability.
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Thermoplastic Elastomers Market Scope
Thermoplastic Elastomers Market Companies
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Germany thermoplastic elastomers market size, by application, 2018-2030 (US$M)
Germany Thermoplastic Elastomers Market Outlook Share, 2023 & 2030 (US$M)
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