The global thermoplastic polyester elastomer market revenue is expected to expand at a lucrative CAGR over the forecast period. Rising demand for thermoplastic polyester elastomer in end-use industries such as automotive, medical, consumer goods, and electronics and electronics owing to its properties such as high strength and stability is expected to be a major factor driving revenue growth of the market. Moreover, increasing R&D activates by thermoplastic polyester elastomer manufacturers is expected to support revenue growth over the forecast period.
The global thermoplastic polyester elastomer market report has been segmented on the basis of application and region.
On the basis of application, the global target market has been segmented into automotive, electrical & electronics, industrial, packaging, consumer goods, medical, and others (footwear and sports equipment). The electrical & electronics segment is expected to witness higher growth rate over the forecast period. Growing demand for thermoplastic polyester elastomers in electronics owing to insulation and heat distortion properties is expected to propel revenue growth of segment over the forecast period.
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On the basis of region, the global thermoplastic polyester elastomer market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America market is expected to grow at a steady rate over the forecast period. Growing demand for thermoplastic polyester elastomer in automobiles to lower the cost of production is expected to support revenue growth of North America thermoplastic polyester elastomer market. Moreover, the growing electronics industry in the US and Canada is expected to drive revenue growth of Asia Pacific thermoplastic polyester elastomer market.
Key players operating in the global thermoplastic polyester elastomer market include E. I. du Pont de Nemours and Company, BASF SE, Covestro AG, Teijin Limited, Distrupol Limited, Celanese Corporation, LG Chem Ltd., Mitsubishi Engineering Plastics Corp., Koninklijke DSM N.V., and SK Chemicals Co., Ltd.