The Thermoplastic Elastomers Market was valued at USD 25.44 billion in 2024, projected to reach USD 41.97 billion by 2032 with a CAGR of 6.46%. TPEs offer sustainability advantages, replacing traditional rubber in automotive and healthcare. The U.S. market size was USD 7.27 billion in 2024, expected to reach USD 12.54 billion by 2032, driven by key end-use industries and innovation from top manufacturers.

Styrenic Block Copolymers (SBCs) led the polymer foam market in 2024, popular for their low cost and superior properties in adhesives and packaging. The automotive sector dominated the TPE market in 2024, accounting for 28% of global revenue due to TPEs’ lightweight and durable properties. North America held 38.04% market share in 2024, driven by automotive and healthcare industries.

Recent developments include Mitsui Chemicals expanding TPE production capacity for automotive and medical industries. Kraiburg TPE launched recyclable TPEs for sustainable packaging. The market offers sustainability advantages, cross-industry flexibility, cost-effective production, and design versatility. SNS Insider provides market research and consulting services to help clients navigate changing circumstances with confidence.

Read more at GlobeNewswire: Thermoplastic Elastomers Market to Reach USD 41.97 Billion