India TPEs market to grow 7% annually from 2016-2025

Research and Markets' latest report, "India Thermoplastic Elastomers Market - Forecast and Opportunities, 2011-2025," estimates the market of thermoplastic elastomers in India to grow at a CAGR of around 7% during the period 2016-2025. Key players in the India market are BASF, DuPont & Basell Polyolefins India.

Thermoplastic elastomers (TPEs) are unique and eco-friendly thermoplastics that are not only recyclable but can also be re-molded and re-shaped. TPEs offer various other advantages such as resistance to chemicals, UV, oxidation and providing soft-touch to materials. These properties enable replacement of rubber and conventional plastic materials with TPEs in various applications.

Styrenic block copolymers dominated India thermoplastic elastomers market in 2015, and the segment is expected to continue dominating the market through 2025 owing to its wide range of applications in various industries, ranging from automotive to consumer durables.

During the forecast period, the automotive industry is expected to emerge as the largest end user of TPEs in India, on account of increasing consumer preference for high performance and lightweight automobiles in the country. A major share in the demand for thermoplastic elastomers emanates from Tamil Nadu, Maharashtra, National Capital Region (NCR), Gujarat, Karnataka and Andhra Pradesh, among others.