Thermoplastic copolyester elastomers market witnessed moderate growth in 2018, with demand surpassing 170 thousand tons, according to Fact.MR’s latest study. Thermoplastic copolyester elastomers demand is likely to benefit from broader developments in the automotive industry, especially the growing focus on improving fuel efficiency.
Automotive manufacturers are rapidly moving towards thermoplastic copolyester elastomers for production of new high-temperature resistant air ducts. Thermoplastic copolyester elastomers are also facilitating manufacturers to produce air ducts in a single material and using a single process. Focus on weight and cost reduction, while improving process efficiency are among the key factors that will continue to support adoption of thermoplastic copolyester elastomers in end-use industries.
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North America to Remain Lucrative in Thermoplastic Copolyester Elastomers Market
North America is witnessing growing demand for thermoplastic copolyester elastomers in the automotive sector in manufacturing lightweight and fuel-efficient cars. Thermoplastic copolyester elastomers are finding significant applications in manufacturing hot charge air ducts and CVJ boots in automobiles.
The report by Fact.MR opines that the demand for thermoplastic copolyester elastomers in North America is expected to exceed 60 thousand tons in 2018. Regulatory requirements are becoming increasingly stringent in automotive, medical, and consumer goods industries in North America. This is driving the demand for recyclable and flexible raw material for manufacturing various products in these industries, thereby, resulting in growing demand for thermoplastic copolyester elastomers.
Key Segments of Thermoplastic Copolyester Elastomers Market
- CVJ Boots
- Air Ducts
- Consumer goods
- Electrical (wires & cables)
- Industrial Applications
- North America
- Latin America