CLEVELAND—Demand for custom thermoplastic elastomers in the U.S. will grow at a 4.5-percent clip during the next five years, according to market research company Freedonia Group Inc.
The firm said TPEs will benefit from their use in the motor vehicle market, where they are valued for their ability to reduce vehicle weight and cut costs while providing enhanced aesthetics and innovative design features.
Freedonia said TPE consumption in the U.S., which stood at 920 million tons in 2007 and grew at a 1-percent pace in the 2007-2012 percent, will rise to 1.2 billion pounds by 2017.
For more information about the study, Custom Thermoplastic Compounding, visit Freedonia's website, www.freedoniagroup.com.