LATIN AMERICA THERMOPLASTIC ELASTOMERS MARKET 2023-2030

Chemicals & Materials | Plastic

LATIN AMERICA THERMOPLASTIC ELASTOMERS MARKET 2023-2030

Market by Material Type, Industry Vertical, and Country Outlook | Forecast 2023-2030

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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:

      Market CAGR during the forecasting years 2023-2030

      Detailed data highlighting key insights, industry components, and market strategies

      Comprehensive information and estimation of the thermoplastic elastomers market revenue growth in Latin America and its influence on the parent market

      In-depth study of forthcoming trends in consumer behavioral patterns

      A meticulous analysis of the competitive landscape, vendor scorecard, and Porter’s Five Forces

      A wide-ranging study of factors that will challenge the LA thermoplastic elastomers market’s growth during the upcoming years

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Table of Content

1. 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

List of Tables

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)

List of Figures

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)

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