DALLAS—Global demand for thermoplastic elastomers should rise at an 8.1-percent average annual growth rate to $23.9 billion by 2018, according to a new study by a market research firm.
The Asia-Pacific region shows the highest demand for TPEs, and that won't change in the 2013-18 period, said the study by MarketsandMarkets, the Dallas-based researcher. That region accounted for 42.4 percent of the world's total TPE sales in 2012, a global market totaling $15.1 billion.
The North American market will rank second in 2018, the study said, while Europe will show rates of 6.7 percent in growth of revenue and 5.1 percent in consumption in the five-year period.
MarketsandMarkets said a category of other individual companies will achieve the highest average growth rate in the period, 10.1 percent, resulting from rising consumption by end-user markets for TPEs.
The report is for sale at the research firm's website, www.marketsandmarkets.com.