NORTH AMERICA THERMOPLASTIC ELASTOMERS MARKET FORECAST 2023-2032

The North America thermoplastic elastomers market growth evaluation constitutes the assessment of the United States and Canada. The United States electronics market holds the top position in terms of size and is anticipated to maintain its leading position in the foreseeable future. This is attributed to the adoption of advanced technology, the proliferation of R&D centers, and the growing consumer demand. The electronics industry also experiences a rapid pace of innovation, technological advancements, and increased R&D activities, resulting in a significant need for newer and faster electronic products. To cater to this demand and focus on developing high-end goods, there has been a notable surge in the establishment of manufacturing plants and development centers in the United States. As a result, the demand for thermoplastic elastomers is expected to witness a boom over the upcoming years.

In addition, the United States stands as one of the primary consumers of thermoplastic elastomers worldwide, particularly in the tire and automotive-related sectors. Over the past decade, the country’s automobile industry has undergone substantial expansion. This growth can be traced back to the early 1920s when the United States recognized the need to produce synthetic rubber due to its heavy reliance on the global natural rubber supply, which was severed during the onset of World War II. Collaborating with various United States-based enterprises, the government successfully commercialized GR-S (Government Rubber-Styrene), a versatile synthetic rubber. Hence, the aforementioned factors are set to augment the North America thermoplastic elastomers market growth during the forecast period. 

The North America thermoplastic elastomers market is segmented into material type and end-user. The material type segment includes polystyrene, polyolefin, elastomeric alloy, polyurethane, polyamide, and other material types. Polystyrene is a rigid and transparent resin known for its hardness and stiffness. It is produced through the polymerization of styrene and is widely regarded as one of the most commonly used plastics. 

While it remains solid at room temperature, polystyrene transforms into a flowable state when heated above 100 °C and regains rigidity upon cooling. The material can be easily dissolved by various chlorinated solvents as well as aromatic hydrocarbon solvents. Moreover, polystyrene finds extensive application in the food-service industry, where it is utilized for rigid trays, disposable eating plates, containers, bowls, and others.

Some of the top firms operating in the North America thermoplastic elastomers market are Advanced Elastomer Systems LP, Covestro AG, The Dow Chemical Company, etc.

Advanced Elastomer Systems LP, headquartered in the United States, is a leading global supplier of thermoplastic elastomers (TPEs). With the capacity to manufacture over 50,000 metric tons of TPEs per annum, the AES manufacturing plant in Newport, Wales, employs around 70 workers as well as contractors. Additionally, the company’s products include NBR, EPDM, and NR types.