Market Analysis: Thermoplastic Elastomers Compounds Market, Thermoplastic Edgeband Market, Various Fire Rated Composite Sandwich PanelsMarket for 2023-2030

SEATTLE, WASHINGTON, USA, July 11, 2023/EINPresswire.com/ -- The Thermoplastic Elastomers (TPE) Compounds Market is expected to grow from USD 11.10 Billion in 2022 to USD 19.70 Billion by 2030, at a CAGR of 8.50% during the forecast period.The global Thermoplastic Elastomers (TPE) Compounds market is expected to grow significantly in the forecast period from 2023-2030, driven by the increasing demand for TPE compounds in various end-use industries such as automotive, construction, footwear, and medical devices. The TPE compounds offer excellent properties such as flexibility, durability, and ease of processing, making them ideal for various applications. The growing demand for lightweight and fuel-efficient vehicles is also expected to drive the demand for TPE compounds in the automotive industry.The major factors driving revenue growth in the TPE compounds market include the increasing demand for biodegradable TPE compounds, growing investments in research and development activities, and the rising demand for TPE compounds in Asia-Pacific and North America.

There are different types of TPE compounds available in the market, but the most commonly used are:

• Styrenic block copolymers (TPE-S)
• Thermoplastic Vulcanizates (TPV)

Styrenic block copolymers (TPE-S) offer excellent flexibility, high elongation, low compression set, and good weather resistance. TPVs, on the other hand, provide a higher level of hardness and chemical resistance than TPE-S. Apart from these two types, there are other TPE compounds available, such as TPO, TPU, TPSiV, COPE, and SEBS, which exhibit specific properties such as conductivity, flame resistance, or improved heat stability.

Thermoplastic elastomers (TPE) compounds are widely used in various industries including footwear, automobile, building & construction, and others. In the footwear industry, TPE compounds are used as a substitute for rubber in the production of shoe soles, providing better slip resistance and durability. In the automobile industry, TPE compounds are used in the manufacturing of parts such as weather-stripping, dashboard components, and seals. In the building & construction industry, TPE compounds are used for window seals, roofing membranes, and cable insulation.

The report further estimates that the market share of the Thermoplastic Elastomers (TPE) Compounds market in the Asia Pacific region will be around 55% by 2030, followed by North America with a market share of around 25%, and Europe with a market share of around 15%. The rest of the world is expected to account for the remaining 5% of the market share. However, it is essential to note that these estimates are subject to various factors such as economic conditions, regulatory policies, and technological advancements, which may have an impact on the market share in the different regions.

The global market for thermoplastic elastomers (TPE) compounds is highly competitive with major players such as Kraton Polymers, Dynasol, LG Chem, INEOS Styrolution, Avient Corporation, Asahi Chemical, Versalis, Mitsubishi Chemical, Sibur, Kumho Petrochemical, ExxonMobil, JSR, Kuraray, Sinopec, LCY Technology Corp, TSRC, CNPC, and ChiMei leading the market. These companies provide a wide range of TPE compounds that are used in diverse applications such as automotive, consumer goods, building and construction, medical devices, and others.

The TPE compounds market is growing significantly as companies strive to provide innovative solutions for various end-use applications. In 2020, Kraton Polymers had a revenue of $1.7 billion, LG Chem had a revenue of $23.6 billion, and ExxonMobil had a revenue of $181.5 billion.

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The Thermoplastic Edgeband Market is expected to grow from USD 3.80 Billion in 2022 to USD 8.10 Billion by 2030, at a CAGR of 11.40% during the forecast period.The Thermoplastic Edgeband market is experiencing a steady growth trajectory, driven by the high demand for durable, cost-effective, and visually appealing solutions for furniture and fittings. The market includes a wide range of thermoplastic edgebanding materials, including PVC, ABS, melamine, and acrylics. The factors driving revenue growth in the Thermoplastic Edgeband market include the rapid growth of the furniture industry, the increasing popularity of DIY home projects, and the rising demand for environmentally sustainable edgebanding materials.The furniture industry is a major target market for Thermoplastic Edgeband products. As consumer demand for aesthetically pleasing, high-quality furniture continues to grow, manufacturers are turning to edgebanding materials to enhance the durability, appearance, and functionality of their products.

The Asia-Pacific region is expected to dominate the thermoplastic edgeband market with a significant market share percentage valuation. The growing demand for furniture products in emerging economies such as China and India is driving the market growth in this region. North America and Europe are also expected to witness substantial growth in the thermoplastic edgeband market owing to the rise in construction activities and increasing demand for custom-designed furniture. However, the Latin American and Middle Eastern regions are anticipated to experience moderate growth due to the economic instability and political uncertainties in those regions. Overall, the global market share percentage valuation of the thermoplastic edgeband market is expected to increase at a significant rate over the coming years in all regions due to the increasing usage of plastic materials in furniture production.

The thermoplastic edgeband market is highly competitive due to the presence of several established players such as Surteco Group SE, Fritz EGGER, REHAU Group, Teknaform Inc., MKT, Tece Dekor A.S., Scanwolf, Dongguan Huali, Sinowolf Plastic, Dongguan Xiongyi, Zhejiang Wellscom, Guangzhou Jiade, Dongguancity Hexing, and Guangzhou Young.

Sales revenue figures of a few of the above-listed companies are as follows:

- Surteco Group SE – €700 million (2020)
- Fritz EGGER – €2.84 billion (2020)
- REHAU Group – €3.5 billion (2019)
- Teknaform Inc. – $10 million (estimated)

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The Various Fire Rated Composite Sandwich Panels Market is expected to grow from USD 13.30 Billion in 2022 to USD 17.30 Billion by 2030, at a CAGR of 3.89% during the forecast period.The global market for Various Fire Rated Composite Sandwich Panels is primarily driven by the growing need for safety and fire resistance in construction applications. The increasing awareness about the potential risks and hazards associated with fire in buildings has led to the adoption of fire-rated composite sandwich panels. These panels offer excellent fire resistivity, thermal insulation, and sound insulation properties, thereby making them ideal for use in construction of industrial buildings, warehouses, and commercial structures.In addition, the rising demand for energy-efficient construction materials is also contributing to the growth of the Various Fire Rated Composite Sandwich Panels market. These panels are lightweight, durable, and offer superior insulation properties, which help to reduce energy consumption and improve indoor comfort levels.

The market for fire rated composite sandwich panels is growing rapidly across various regions such as North America, APAC, Europe, the USA, and China. In North America, the market is projected to grow due to stringent building codes and regulations related to fire safety. The APAC region is expected to grow at a significant rate due to rapid urbanization and industrialization. In Europe, the market is driven by the increase in infrastructure activities. The USA market is driven by the growth of the construction industry and increasing demand for energy-efficient building materials. The market in China is growing due to increasing investments in the construction sector and favorable government initiatives towards fire safety.The Asia Pacific region is expected to hold the largest market share of around 40% by 2030, followed by North America with a market share of approximately 30% and Europe with a market share of around 20%. The Middle East and Africa and South America are also expected to witness growth in the Various Fire Rated Composite Sandwich Panels market due to the growing construction industry and increasing infrastructure development activities.

The global market for fire-rated composite sandwich panels is highly competitive, with several companies offering a wide range of products. Some of the key players in this market include Kingspan, Metecno, Assan Panel, Isopan, Cornerstone Building Brands, ArcelorMittal, TATA Steel, Romakowski, Lattonedil, Marcegaglia, Ruukki, Tonmat, Italpannelli, Silex, Zhongjie Group, Alubel, Changzhou Jingxue, Nucor Building Systems, Isomec, AlShahin, Arconic, 3A Composites, Mulk Holdings, Mitsubishi Chemical Corporation, Jyi Shyang, Yaret, CCJX, Seven, Goodsense, and HuaYuan.

Some of the top players in this market, such as Kingspan, Metecno, and Assan Panel, have reported high sales revenue figures in recent years. For instance, Kingspan reported a revenue of €4.4 billion in 2020, while Assan Panel reported a revenue of $1 billion in the same year. Metecno also reported a revenue of €330 million in 2020.

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Mohit Patil
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