The global thermoplastic polyamide elastomers market was valued at US$ 1,535.18 Mn in 2018 and is anticipated to expand at a CAGR of 5.8% from 2019 to 2027, according to a new research report titled ‘Thermoplastic Polyamide Elastomers Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’’ published by Transparency Market Research (TMR) . Rise in demand for thermoplastic polyamide elastomers in the manufacture of winter sports accessories is fueling the market. North America accounts for major share of the global thermoplastic polyamide elastomers market, led by the increase in usage of these elastomers in the consumer goods industry in the region.
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Increase in Awareness about Health Benefits of Sports & Fitness Activities
Consumers are becoming increasingly aware about the benefits of fitness. This is apparent from the rise in number of health care and fitness centers across the globe. Consumers’ preference for high quality athletic footwear is anticipated to fuel the demand for thermoplastic polyamide elastomers. Technological advancement in the athletic footwear industry allows manufacturers to produce footwear that is light in weight, durable, fashionable, and comfortable. Various manufacturers are striving to design footwear with high energy returns. Growth in demand for running shoes, cleated shoes, and ski boots is anticipated to drive the demand for thermoplastic polyamide elastomers in the near future. Added toughness and flexibility of thermoplastic polyamide elastomers makes them ideal for usage in applications such as running and cleated shoes. Customers’ preference for branded footwear is encouraging major athletic footwear manufacturers to incorporate more features that provide high energy return and durability. This, in turn, is projected to augment the demand for advanced thermoplastic elastomers such as thermoplastic polyamide elastomers.
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Increase in Demand for Thermoplastic Polyamide Elastomers in Medical Industry
Thermoplastic polyamide elastomers offer benefits across various aspects of medical device design and manufacturing. Superior properties of thermoplastic polyamide elastomers such as high sterilization resistance, easy blending with other polymers, high torque transference, impact resistance, and resistance to harsh chemicals are fuelling the demand for thermoplastic polyamide elastomers in the medical industry. Demand for thermoplastic polyamide elastomers has been rising in applications such as tubing, catheters, grips, seals, vial closures, drug delivery or monitoring patches, and connectors. Governing bodies across the globe are focusing on enacting stricter regulations on the consumption of plastics owing to the health concerns. Thermoplastic polyamide elastomers are recyclable and do not pose much threat to the environment. Advancements in medical science and technology are anticipated to propel the demand for thermoplastic polyamide elastomers during the forecast period. Thermoplastic polyamide elastomers enable molding technologies on a range of substrates. This may not be feasible with conventional elastomers. Design flexibility of thermoplastic polyamide elastomers helps manufacturers achieve device miniaturization and improved applicability. Emerging applications of thermoplastic polyamide elastomers in fluid delivery systems, including dynamic-seal gaskets and static seal stoppers, are anticipated to offer lucrative opportunities for the thermoplastic polyamide elastomers in the near future.
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High Focus on Consumer Goods Industry
Increase in sales of products, such as apparel and accessories, including variety of sports gear and equipment, especially in developed regions, is expected to boost the demand for thermoplastic polyamide elastomers. Sports accessories such as running shoe components, cleated shoe components, equipment components, apparel, and ski boots require advanced materials that offer high energy return and durability. This has encouraged major manufacturers operating in the sportswear industry to opt for thermoplastic polyamide elastomers as key materials in the manufacture of sports accessories. Thermoplastic polyamide elastomers are also employed in home appliance tubing and components applications.
North America Dominates Global Thermoplastic Polyamide Elastomers Market
In terms of demand, North America is estimated to account for dominant share of the global thermoplastic polyamide elastomers during the forecast period. Prominent presence of manufacturers of athletic footwear such as Nike, New Balance, Skechers, and Reebok is the major factor driving the demand for thermoplastic polyamide elastomers in North America. High penetration of the athletic footwear industry in the U.S. can be ascribed to the increase in participation of public in fitness activities such as running, hiking, trailing, and aerobics. Rise in investment in sports infrastructure is also likely to trigger the demand for thermoplastic polyamide elastomers in North America.
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Moderate to High Degree of Competition among Established Players
The global thermoplastic polyamide elastomers market is moderately fragmented. Therefore, moderate to high competition exists among leading producers of thermoplastic elastomers. Major players operating in the global thermoplastic polyamide elastomers market adopt various strategies such as mergers, acquisitions, partnerships, and product launches in order to strengthen their position. Global manufacturers are focusing on expanding their product portfolios through research and development activities. Suppliers of thermoplastic polyamide elastomers focus on forward integration in order to achieve product differentiation. Key players profiled in the report on the global thermoplastic polyamide elastomers include Arkema S.A, Evonik Industries AG, BASF SE, PolyOne, SABIC, LG Chem Ltd, UBE INDUSTRIES,LTD, EMS-CHEMIE HOLDING AG, RTP Company, Inc, KRAIBURG, and Kuraray America, Inc.