Italy Thermoplastic Elastomers Market Size & Outlook
Italy thermoplastic elastomers market, 2018-2030 (US$M)
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Italy thermoplastic elastomers market highlights
- The Italy thermoplastic elastomers market generated a revenue of USD 596.6 million in 2023 and is expected to reach USD 821.0 million by 2030.
- The Italy market is expected to grow at a CAGR of 4.7% 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.
Thermoplastic elastomers market data book summary
| Market revenue in 2023 | USD 596.6 million |
| Market revenue in 2030 | USD 821.0 million |
| Growth rate | 4.7% (CAGR from 2023 to 2030) |
| Largest segment | Automotive |
| Fastest growing segment | Electrical & Electronics |
| 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, Italy accounted for 2.4% 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 34.85% in 2023. Horizon Databook has segmented the Italy thermoplastic elastomers market based on automotive, electrical & electronics, industrial, medical, consumer goods covering the revenue growth of each sub-segment from 2018 to 2030.
TPEs are used in footwear to enhance durability, flexibility, and wear resistance. When used in outsoles and midsoles, TPEs improve product quality and extend the lifespan of footwear, thus aligning with consumer expectations.
This trend of TPE usage strengthens the competitiveness of Italian footwear companies and is expected to drive growth in the global TPE market. According to ANCI SERVIZI SRL, Italy leads the EU footwear market, producing 161.9 million pairs of footwear annually as of 2022 and accounting for a third of the EU's total production.
Globally, Italy ranks 12th, supported by 3,700 footwear companies. This strong positioning of the Italy footwear market is expected to directly boost the demand for TPEs in the region over the forecast period.
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Thermoplastic Elastomers Market Scope
Thermoplastic Elastomers Market Companies
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Italy thermoplastic elastomers market size, by application, 2018-2030 (US$M)
Italy Thermoplastic Elastomers Market Outlook Share, 2023 & 2030 (US$M)
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