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Global Olefinic Thermoplastic Elastomers Market Drivers
The global olefinic thermoplastic elastomers market is driven by the increasing demand from various end use industries, especially from the automotive industry. There has been an increasing demand for the use of lightweight materials in the automotive manufacturing in order to improve the fuel economy, thus driving the global olefinic thermoplastic elastomers market. Olefinic thermoplastic elastomers has also been utilized for the manufacture of bumpers, interior and exterior trims and floor mats and also for grips and seals.
Moreover, the global olefinic thermoplastic elastomers market is driven by increasing usage as films in the packaging industry due to the versatility of compound to get moulded into different forms.
Global Olefinic Thermoplastic Elastomers Market Restraints
In some extreme temperature and environmental conditions, olefinic thermoplastic elastomers undergo deformation and are not easily recovered. Hence, under such conditions, conventional materials are preferred over olefinic thermoplastic elastomers, which act as a restraint for the market growth.
One of the major factors restraining the growth of the olefinic thermoplastic elastomers market is the volatility in the raw material prices that in turn creating price pressure on manufacturers.
Global Olefinic Thermoplastic Elastomers Market Trends
The trend driving the global olefinic thermoplastic elastomers industry is product innovation by the major market participants. The chemical market is mainly consolidated with a few of the major players dominating the market. There has been constant investment on research and development activities by the manufacturers, for the development of materials such as advanced olefinic thermoplastic elastomers to substitute traditional elastomers such as rubber and thermoplastics in a wide variety of applications.
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Global Olefinic Thermoplastic Elastomers Market Regional Outlook
North America is projected to hold dominant share in the global olefinic thermoplastic elastomers market. This is attributed to the large automotive OEM base in the region. The U.S. is expected to dominate the North America olefinic thermoplastic elastomers market. Asia Pacific and Latin America are identified to be the high growth regions in the global olefinic thermoplastic elastomers market and are expected to exhibit increasing adoption of olefinic thermoplastic elastomers over the conventional materials, thus expanding at a relatively high CAGR over the forecast period, 2017-2027. Asia Pacific has also exhibited a substantial increase in automotive production over the past few years, which in turn is driving the Asian olefinic thermoplastic elastomers market. Europe is estimated to remain as a lucrative region in the global olefinic thermoplastic elastomers market throughout the forecast period. The olefinic thermoplastic elastomers market in Japan is also projected to exhibit positive growth over the forecast period. However, Middle East and Africa is estimated to register sluggish growth.
Global Olefinic Thermoplastic Elastomers Market Participants
Examples of some of the market participants identified across the value chain of the global olefinic thermoplastic elastomers market are: The Dow Chemical Company, BASF SE, DuPont, Evonik Industries AG, Exxon Mobil Corporation, Mitsui Chemicals Inc., Preferred Plastics, Inc. and Hallstar among others.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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The global olefinic thermoplastic elastomers market can be segmented on the basis of application, product type and region.
On the basis of application, the global olefinic thermoplastic elastomers market can be segmented into the following categories:
- Automotive Industry
- Building and construction
- Electrical and electronics
- Food and beverage
- Consumer Products
On the basis of product type, the global olefinic thermoplastic elastomers can be segmented as:
- Thermoplastic polyolefin
- Thermoplastic vulcanizates
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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