CLEVELAND (Oct. 5, 2:20 p.m. ET) — Global demand for thermoplastic elastomers is forecast to rise 6.3 percent per year to 5.6 million metric tons in 2015, according to a new market study.
The market is growing more quickly than it did from 2005-2010 thanks to a rebound in motor vehicle production, according to “World Thermoplastic Elastomers,” a report from Cleveland-based Freedonia Group Inc.
The Asia/Pacific region will continue to be the largest and fastest-growing market for TPEs through 2015, when it will account for nearly half of global demand. The annual growth rate in China will average 8 percent annually, down from 13.1 percent from 2005-2010.
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