Saudi Arabia Thermoplastic Elastomers Market Size & Outlook
Saudi Arabia thermoplastic elastomers market, 2018-2030 (US$M)
Related Markets
Saudi Arabia thermoplastic elastomers market highlights
- The Saudi Arabia thermoplastic elastomers market generated a revenue of USD 223.9 million in 2023 and is expected to reach USD 400.7 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 8.7% 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 223.9 million |
| Market revenue in 2030 | USD 400.7 million |
| Growth rate | 8.7% (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, Saudi Arabia accounted for 0.9% 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 Middle East & Africa, Saudi Arabia thermoplastic elastomers market is projected to lead the regional market in terms of revenue in 2030.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 400.7 million by 2030.
Automotive was the largest segment with a revenue share of 37.29% in 2023. Horizon Databook has segmented the Saudi Arabia thermoplastic elastomers market based on automotive, electrical & electronics, industrial, medical, consumer goods covering the revenue growth of each sub-segment from 2018 to 2030.
Saudi Arabia is significantly investing in innovative infrastructure projects under its Vision 2030 initiative, which aims to diversify the economy and reduce reliance on oil. The country is focusing on developing smart cities, advanced transportation systems, and modern industrial zones.
These ambitious projects require a wide array of high-performance materials, including TPEs. TPEs are increasingly used in electrical & electronic applications within construction and infrastructure projects, due to their flexibility, durability, and resistance to extreme environmental conditions.
In 2022, Saudi Arabia initiated construction on the Line, a USD 200 trillion city project that is part of the larger Neom "gigaproject." As these large-scale developments move forward, TPEs play a crucial role in the insulation of cables, protective coatings for electronic components, and sealing applications, ensuring reliability and safety in smart infrastructure systems.
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 |
|---|
Saudi Arabia thermoplastic elastomers market size, by application, 2018-2030 (US$M)
Saudi Arabia 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
