Thermoplastic Elastomers Market on a Growth Trajectory to $40.6 Billion by 2031 Amid 6.4% CAGR Expansion
                     Thermoplastic 
Elastomers Market 
Global Forecast to 2031
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Key Segmentations
By Type 
• Styrenic Block Copolymers 
• Thermoplastic Polyurethane Elastomers 
• Thermoplastic Vulcanizates  
• Polyether Block Amide
 
By Sector  
              
• Overview            
• Automotive            
• Medical Devices                  
• Footwear       
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Market Growth – Option 3
2031
Market Size of 
$40.6 Billion
According to a recent report by 
Meticulous Research®, the 
thermoplastic elastomers (TPE) 
CAGR of 
market is anticipated to surpass 
6.4% $40.6 billion by 2031, growing at 
a compound annual growth rate 
(CAGR) of 6.4% between 2024 
and 2031. Key factors driving this 
market expansion include the 
increasing utilization of TPE in 
medical devices and its growing 
application within the automotive 
2031 sector. 
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Key Vendors
1 6
Arkema S.A. Teknor Apex
2 7
BASF SE The Lubrizol Corporation 
3
Dow Inc. Top 10 8 Kraton Corporation
Vendors
4 9
Convestro AG  Asahi Kasei Corporation
5 10
Huntsman Corporation Zeon Corporation
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Regional Analysis
EUROPE
NORTH AMERICA
30.5% l 6.6%
35.6% l 5.8%
• North America 
• Europe  ASIA-PACIFIC
• Asia-Pacific 
28.7% l 8.6%
• Latin America
LATIN AMERICA
• Middle East & 
MIDDLE EAST & AFRICA
Africa 3.4% l 8.3%
1.9% l 7.7%
MARKET SHARE% 2023e       CAGR% (2022–2031)
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