Asia Pacific thermoplastic elastomers (TPE) market is expected to reach USD 7.82 billion, according to a new report by Grand View Research, Inc. High rate of product utilization in automotive component production is expected to remain a key factor driving market growth over the next seven years. Favorable regulatory initiatives by environmental agencies to curtail carbon emission by improving fuel efficiency has compelled major automotive OEMs to adapt plastics as substitute to metals and alloys in various components. Rising consumer preference towards high performance and light weight passenger cars has been driving plastics innovation in automotive industry. These factors have led to increased TPE consumption for manufacturing advanced and fuel efficient cars. They exhibit design flexibility, lower fabrication costs and shorter processing times compared to thermoset plastics, thus gaining wide acceptance in terms of their application consumption. The market is expected to exhib
http://www.grandviewresearch.com/industry-analysis/asia-pacific-thermoplastic-elastomers-tpe-market
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