Thermoplastic Polyester Elastomer Market Size

Thermoplastic Polyester Elastomer Market size is anticipated to reach USD 542 Billion by the end of 2036, growing at a CAGR of 6% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of thermoplastic polyester elastomer was USD 292 Billion. The growth of this market is driven by the growing demand for lighter materials in the automotive sector. Thermoplastic Polyester Elastomer is a popular option for automotive applications because of its exceptional mechanical performance and lightweight characteristics. In addition, the properties of TPEE in terms of flexibility, durability, and chemical resistance make it suitable for use in a variety of automotive components such as seals, gaskets, hoses, or interior trims. As per the recent survey, parts, services, and maintenance-related searches account for over 25% of all automobile searches. Therefore, the adoption of TPEE is expected to increase as the automotive components sector continues to focus on fuel efficiency and sustainability.

Furthermore, TPEE exhibits exceptional chemical stability in a range of environmental circumstances, including ozone, water mist, and outside air. Also, excellent anti-fatigue qualities are exhibited by thermoplastic polyester elastomers or TPEE. They have superior rip strength and tolerance to high temperatures up to 140°C. They are perfect for blow molding applications like extrusions and industrial tubes because of their characteristics.