CLEVELAND (Dec. 26, 2007) — Spurred on by huge demand from China, world use of thermoplastic elastomers will rise an average of 6.3 percent annually through 2011 to 3.7 million metric tons, according to a new study by Freedonia Group.
The Cleveland-based market research company said China will expand its share of the world market for TPEs by 3 percent to more than 33 percent by 2011. Freedonia said China — the world's largest TPE market — will expand and diversify rapidly in the period.
The U.S. will continue to be the world's largest manufacturer of some products such as olefinic-based TPEs. Worldwide, TPE sales will remain concentrated in the developed markets of the U.S., Western Europe and Japan, especially for high-performance materials like copolyester elastomers and thermoplastic vulcanizates, the report said.
However, the developing countries will show the highest growth rates.
For other details and or purchase the report, visit the company's Web site, www.freedoniagroup.com.