TPE Gaskets are the type of gaskets which consist of thermoplastics and elastomeric properties. A gasket is a compressible material, or a combination of materials, which when clamped between two stationary members prevents the passage of the media across those members. The gasket material selected must be capable of sealing mating surfaces, resistant to the medium being sealed and able to withstand the application temperatures and pressures.
Conventional plastics are being replaced by TPE Gaskets due to its high performance properties such as high flexibility, slip resistance, electric absorption, ergonomic comfort, soft texture and due to their recyclable characteristics. Elastomeric alloys contribute for major share in the global market. Europe has seen the fastest adoption rate for this product and it is estimated to follow the same trend during the forecast period. TPE gaskets have seen manufacturers majorly from European and American region; this fact does not mean that the APAC region has low demand. The key trend observed in this market is that product manufacturers now prefer sourcing TPE materials and mould it themselves for their gasket and sealing needs. This trend has seen the market for TPE materials grow up in the past five years and hence we have included raw material suppliers as well in our study.
The thermoplastic elastomer gaskets market has been segmented on the various products it is used in such as refrigerators, dishwashers, washing machines, dryers, commercial Freezers and by gaskets’ application in window & door systems, food industry, consumer goods and industrial. TPE Gaskets have seen recent growth owing to the demand from sectors such as construction, consumer goods, industrial and others.
Automotive & Construction sectors have seen the largest application for TPE gaskets, with Europe pre-dominating the demand scenario followed by North America. A detailed qualitative analysis of the factors responsible for driving and restraining growth of the TPE Gaskets market and future opportunities are provided in the report.
Europe region is projected to register fastest growth rate during the forecast period and accounted for xx% of the TPE Gaskets market. It is estimated to continue in the future due to huge investments from key players. The companies are adopting various growth strategies and also investing in R&D extensively to develop technically advanced unique products. North America is considered as next major consumer for TPE Gaskets. The study forecasts that TPE Gaskets market will increase at a CAGR of x.x% during the forecast period 2016 and 2021, to attain an anticipated value of $xx.x million by the end of the forecast period.