The global copolyester market is set for "moderate to high" growth in 2019, with demand approaching 400 million pounds, according to a new report from Irish research firm Fact.MR.
Markets for copolyester — a type of thermoplastic elastomer (TPE) — are expected to grow at an annual rate of 4.5 percent from 2019-27, according to the report. Demand for the materials is likely to benefit from broader developments in the automotive industry, especially a growing focus on improving fuel efficiency.
Automakers "are rapidly moving" towards copolyesters for production of new high-temperature resistant air ducts, officials said in the report. Copolyester demand from the auto industry will also be influenced by growing focus on passenger safety, as more governments have mandated the inclusion of more airbags in vehicles. Use of copolyesters as a cost-effective material for airbag manufacturing will create significant opportunities for stakeholders, according to the report.
Copolyester demand is expected to grow significantly in the U.S., Europe and Japan as a result of rising demand for high-performance materials. China, Brazil and India also hold great potential for copolyester makers because of their growing auto market, along with emission regulations on the auto sector.
Copolyesters also are rapidly replacing rubber and metals in electrical, consumer goods and medical manufacturing, according to the report. Medical device makers are shifting towards non-latex solutions because of environmental and biohazard concerns and skin sensitivity issues. Copolyesters also are replacing materials such as PVC and silicone rubber in medical devices, officials said.
The report identifies DowDuPont, Royal DSM, Shinkong and Chang-Chung Group as leading players in the global copolyester field.