Market by Material Type, Industry Vertical, and Country Outlook | Forecast 2023-2030
According to Triton’s research report, the thermoplastic elastomers market in Latin America is anticipated to propel at a CAGR of 6.30% in revenue and 2.55% in volume during the forecasted period 2023-2030.
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The
countries considered in the region are:
•
Brazil
•
Mexico
•
Rest of Latin America
In Latin America, the reviewed market’s growth is primarily boosted by
increasing demand from the construction and medical industries. In the coming
years, the industrial demand is expected to expand further, resulting in the
high adoption of biomaterial-based thermoplastic elastomers. However,
government restrictions on TPE usage for commercial purposes could be a
restraining factor in the upcoming years.
Mexico leads the market with the majority of
share. In 2021,
Mexico’s GDP grew significantly, and a similar growth trajectory is anticipated
in the coming years. However, consumer spending is anticipated to rise at a
slower pace due to the impact of rising inflation on purchasing power. Mexico holds
the distinction of being the largest automobile manufacturer in Latin America.
In recent years, the country has witnessed growing demand for commercial and
passenger vehicles, leading to a high demand for TPE for tire production.
Hence, the above-mentioned factors are expected to open for the thermoplastic
elastomers market.
Brazil has grappled with economic instability in recent years due to political turmoil, soaring inflation, declining export prices, and diminished confidence levels. These factors have led to a contraction in the economy. Nonetheless, there has been a gradual GDP recovery, and this upward trend is anticipated to continue over the forecast period. Notably, the automotive sector in the country has experienced robust growth, poised to drive demand for thermoplastic elastomers in automotive applications.
With its beneficial
properties like improved flame resistance, structural strength, and flexibility
in various formulations, TPE has become the preferred material for many
electrical insulation applications. Its composites find extensive use in
electrical cabinets and enclosures. Composites like polycarbonate/TPE,
glass-reinforced, carbon fiber-reinforced, stainless steel fiber-reinforced,
and others with enhanced impact and flame resistance are widely utilized in
consumer electronics, industrial electronics, household appliances, and food
handling equipment.
The market is sectioned into industrial vertical
and material type.
The industrial vertical segment includes electrical & electronics, medical,
building & construction, industrial, automotive, consumer goods, and other
industry verticals.
The notable companies in the market comprise
Evonik Industries AG, Lubrizol Corporation, Karton Corporation, and LG Chem
Ltd.
Evonik Industries AG is a global leader in producing and marketing
specialty chemical products. The company offers a range of intermediates and
polymer materials for industries, including rubber, plastics, and agriculture.
In addition, it supplies chemicals used in animal nutrition, consumer goods,
and healthcare-related products. With a global presence, the company operates
in multiple regions, including Latin America.
Key
deliverables of the report:
â—Ź
Market CAGR during the forecasting years 2023-2030
â—Ź
Detailed data highlighting key insights, industry components, and
market strategies
â—Ź
Comprehensive information and estimation of the thermoplastic
elastomers market revenue growth in Latin America and its influence on the
parent market
â—Ź
In-depth study of forthcoming trends in consumer behavioral
patterns
â—Ź
A meticulous analysis of the competitive landscape, vendor
scorecard, and Porter’s Five Forces
â—Ź
A wide-ranging study of factors that will challenge the LA
thermoplastic elastomers market’s growth during the upcoming years
Want to get specific insights? Our team of analysts
can customize this report based on your preferences. Connect with us here.
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VIEW REPORT1. LATIN
AMERICA THERMOPLASTIC ELASTOMERS MARKET - SUMMARY
2. INDUSTRY
OUTLOOK
2.1. PARENT
MARKET ANALYSIS
2.2. IMPACT
ANALYSIS ON THE THERMOPLASTIC ELASTOMERS MARKET
2.2.1. COVID-19
IMPACT
2.2.2. IMPACT
OF RUSSIA-UKRAINE WAR
2.3. PORTER’S
FIVE FORCES ANALYSIS
2.3.1. THREAT
OF NEW ENTRANTS
2.3.2. THREAT
OF SUBSTITUTES
2.3.3. BARGAINING
POWER OF BUYERS
2.3.4. BARGAINING
POWER OF SUPPLIERS
2.3.5. THREAT
OF COMPETITIVE RIVALRY
2.4. MARKET
MATURITY ANALYSIS
2.5. INDUSTRY
COMPONENTS
2.5.1. RAW
MATERIALS MANUFACTURER
2.5.2. POLYMER
COMPOUNDING
2.5.3. END-USER
2.6. REGULATORY
FRAMEWORK
2.7. KEY
MARKET STRATEGIES
2.7.1. COLLABORATIONS
2.7.2. PRODUCT
LAUNCHES
2.7.3. MERGERS
& ACQUISITIONS
2.7.4. BUSINESS
DIVESTITURES & EXPANSIONS
2.8. MARKET
DRIVERS
2.8.1. APPLICATION
OF THERMOPLASTIC ELASTOMER AS A SUBSTITUTE FOR THERMOSET ELASTOMER
2.8.2. INTRODUCTION
OF 3-D PRINTING TECHNOLOGY
2.8.3. GROWING
DEMAND IN THE AUTOMOTIVE SECTOR
2.9. MARKET
CHALLENGES
2.9.1. REDUCED
VOLUME CONSUMPTION DUE TO THE LIGHTWEIGHT AND MINIATURIZATION TRENDS
2.9.2. PRICE
FLUCTUATIONS IN RAW MATERIALS
2.10. MARKET
OPPORTUNITIES
2.10.1. LIGHTWEIGHT
MATERIALS SUPPORT PRODUCT WEIGHT REDUCTION
2.10.2. GROWING
USE OF THERMOPLASTIC ELASTOMERS IN RECYCLABILITY IMPROVEMENT PROJECTS
2.10.3. THERMOPLASTIC
ELASTOMERS SUPPORT IN CO2 EMISSION REDUCTION
2.11. ANALYST
PERSPECTIVE
3. LATIN
AMERICA THERMOPLASTIC ELASTOMERS MARKET – BY MATERIAL TYPE
3.1. POLYSTYRENE
3.2. POLYAMIDE
3.3. POLYOLEFIN
3.4. POLYURETHANE
3.5. ELASTOMERIC
ALLOY
3.6. OTHER
MATERIAL TYPES
4. LATIN
AMERICA THERMOPLASTIC ELASTOMERS MARKET – BY INDUSTRY VERTICAL
4.1. MEDICAL
4.2. BUILDING
& CONSTRUCTION
4.3. INDUSTRIAL
4.4. CONSUMER
GOODS
4.5. ELECTRICAL
& ELECTRONICS
4.6. AUTOMOTIVE
4.7. OTHER
INDUSTRY VERTICALS
5. LATIN
AMERICA THERMOPLASTIC ELASTOMERS MARKET – BY COUNTRY OUTLOOK
5.1. BRAZIL
5.1.1. BRAZIL
THERMOPLASTIC ELASTOMERS MARKET FORECAST & PROSPECTS
5.2. MEXICO
5.2.1. MEXICO
THERMOPLASTIC ELASTOMERS MARKET FORECAST & PROSPECTS
5.3. REST
OF LATIN AMERICA
5.3.1. REST
OF LATIN AMERICA THERMOPLASTIC ELASTOMERS MARKET FORECAST & PROSPECTS
6. COMPETITIVE
LANDSCAPE
6.1. ARKEMA
SA
6.1.1. OVERVIEW
6.1.2. PRODUCT
PORTFOLIO
6.1.3. KEY
STRENGTHS
6.1.4. KEY
CHALLENGES
6.2. BASF
SE
6.2.1. OVERVIEW
6.2.2. PRODUCT
PORTFOLIO
6.2.3. KEY
STRENGTHS
6.2.4. KEY
CHALLENGES
6.3. ASAHI
KASEI CORPORATION
6.3.1. OVERVIEW
6.3.2. PRODUCT
PORTFOLIO
6.3.3. KEY
STRENGTHS
6.3.4. KEY
CHALLENGES
6.4. COVESTRO
AG
6.4.1. OVERVIEW
6.4.2. PRODUCT
PORTFOLIO
6.4.3. KEY
STRENGTHS
6.4.4. KEY
CHALLENGES
6.5. DYNASOL
GROUP
6.5.1. OVERVIEW
6.5.2. PRODUCT
PORTFOLIO
6.5.3. KEY
STRENGTHS
6.5.4. KEY
CHALLENGES
6.6. THE
DOW CHEMICAL COMPANY
6.6.1. OVERVIEW
6.6.2. PRODUCT
PORTFOLIO
6.6.3. KEY
STRENGTHS
6.6.4. KEY
CHALLENGES
6.7. EVONIK
INDUSTRIES AG
6.7.1. OVERVIEW
6.7.2. PRODUCT
PORTFOLIO
6.7.3. KEY
STRENGTHS
6.7.4. KEY
CHALLENGES
6.8. LG
CHEM LTD
6.8.1. OVERVIEW
6.8.2. PRODUCT
PORTFOLIO
6.8.3. KEY
STRENGTHS
6.8.4. KEY
CHALLENGES
6.9. LUBRIZOL
CORPORATION
6.9.1. OVERVIEW
6.9.2. PRODUCT
PORTFOLIO
6.9.3. KEY
STRENGTHS
6.9.4. KEY
CHALLENGES
6.10. KRATON
CORPORATION
6.10.1. OVERVIEW
6.10.2. PRODUCT
PORTFOLIO
6.10.3. KEY
STRENGTHS
6.10.4. KEY
CHALLENGES
7. RESEARCH
METHODOLOGY & SCOPE
7.1. RESEARCH
SCOPE & DELIVERABLES
7.2. SOURCES
OF DATA
7.3. RESEARCH
METHODOLOGY
TABLE
1: LATIN AMERICA THERMOPLASTIC ELASTOMERS MARKET, BY COUNTRY OUTLOOK, 2023-2030
(IN $ MILLION)
TABLE
2: LATIN AMERICA THERMOPLASTIC ELASTOMERS MARKET, BY COUNTRY OUTLOOK, 2023-2030
(IN KILOTON)
TABLE
3: REGULATORY FRAMEWORK
TABLE
4: LIST OF COLLABORATIONS
TABLE
5: LIST OF PRODUCT LAUNCHES
TABLE
6: LIST OF MERGERS & ACQUISITIONS
TABLE
7: LIST OF BUSINESS DIVESTITURES & EXPANSIONS
TABLE
8: LATIN AMERICA THERMOPLASTIC ELASTOMERS MARKET, BY MATERIAL TYPE, 2023-2030 (IN
$ MILLION)
TABLE
9: LATIN AMERICA THERMOPLASTIC ELASTOMERS MARKET, BY INDUSTRY VERTICAL,
2023-2030 (IN $ MILLION)
TABLE
10: LATIN AMERICA THERMOPLASTIC ELASTOMERS MARKET, BY COUNTRY OUTLOOK,
2023-2030 (IN $ MILLION)
TABLE
11: LATIN AMERICA THERMOPLASTIC ELASTOMERS MARKET, BY COUNTRY OUTLOOK,
2023-2030 (IN KILOTON)
FIGURE 1: INDUSTRY COMPONENTS
FIGURE 2: LATIN AMERICA THERMOPLASTIC ELASTOMERS
MARKET, BY MATERIAL TYPE, 2022 & 2030 (IN %)
FIGURE 3: LATIN AMERICA THERMOPLASTIC ELASTOMERS
MARKET, BY POLYSTYRENE, 2023-2030 (IN $ MILLION)
FIGURE 4: LATIN AMERICA THERMOPLASTIC ELASTOMERS
MARKET, BY POLYAMIDE, 2023-2030 (IN $ MILLION)
FIGURE 5: LATIN AMERICA THERMOPLASTIC ELASTOMERS
MARKET, BY POLYOLEFIN, 2023-2030 (IN $ MILLION)
FIGURE 6: LATIN AMERICA THERMOPLASTIC ELASTOMERS
MARKET, BY POLYURETHANE, 2023-2030 (IN $ MILLION)
FIGURE 7: LATIN AMERICA THERMOPLASTIC ELASTOMERS
MARKET, BY ELASTOMERIC ALLOY, 2023-2030 (IN $ MILLION)
FIGURE 8: LATIN AMERICA THERMOPLASTIC ELASTOMERS
MARKET, BY OTHER MATERIAL TYPES, 2023-2030 (IN $ MILLION)
FIGURE 9: LATIN AMERICA THERMOPLASTIC ELASTOMERS
MARKET, BY INDUSTRY VERTICAL, 2022 & 2030 (IN %)
FIGURE 10: LATIN AMERICA THERMOPLASTIC ELASTOMERS
MARKET, BY MEDICAL, 2023-2030 (IN $ MILLION)
FIGURE 11: LATIN AMERICA THERMOPLASTIC ELASTOMERS
MARKET, BY BUILDING & CONSTRUCTION, 2023-2030 (IN $ MILLION)
FIGURE 12: LATIN AMERICA THERMOPLASTIC ELASTOMERS
MARKET, BY INDUSTRIAL, 2023-2030 (IN $ MILLION)
FIGURE 13: LATIN AMERICA THERMOPLASTIC ELASTOMERS
MARKET, BY CONSUMER GOODS, 2023-2030 (IN $ MILLION)
FIGURE 14: LATIN AMERICA THERMOPLASTIC ELASTOMERS
MARKET, BY ELECTRICAL & ELECTRONICS, 2023-2030 (IN $ MILLION)
FIGURE 15: LATIN AMERICA THERMOPLASTIC ELASTOMERS
MARKET, BY AUTOMOTIVE, 2023-2030 (IN $ MILLION)
FIGURE 16: LATIN AMERICA THERMOPLASTIC ELASTOMERS
MARKET, BY OTHER INDUSTRY VERTICALS, 2023-2030 (IN $ MILLION)
FIGURE 17: LATIN AMERICA THERMOPLASTIC ELASTOMERS
MARKET, BY COUNTRY OUTLOOK, 2022 & 2030 (IN %)
FIGURE 18: BRAZIL THERMOPLASTIC ELASTOMERS MARKET
2023-2030 (IN $ MILLION)
FIGURE 19: MEXICO THERMOPLASTIC ELASTOMERS MARKET
2023-2030 (IN $ MILLION)
FIGURE 20: REST OF LATIN AMERICA THERMOPLASTIC
ELASTOMERS MARKET 2023-2030 (IN $ MILLION)