The global thermoplastic elastomers market is estimated to grow steadily from 2017 to 2021 and witness a CAGR of 7.78% during the forecast period, according to a new report titled “Global Thermoplastic Elastomers Market 2017-2021” from Technavio. Based on product type, the global TPE market is segmented into styrenics, polyolefin blends and alloys, thermoplastic polyurethanes (TPU), thermoplastic vulcanizates (TPV), thermoplastic copolyesters, thermoplastic polyamides. The styrenics segment accounted for the major shares and dominated this market in 2016. Factors such as the growth of the major end-user sectors in countries like Brazil, India, and China and the rising focus of the emerging countries toward infrastructure development that leads to a rise in the adoption of TPE materials for bitumen modification in pavement and roofing applications will drive the growth of this market segment in the coming years. In terms of end-user industry, the global TPE market is segmented into automotive, construction and infrastructure, consumer electronics and appliances, healthcare, packaging, footwear and others. The automotive industry is expected to be the major end-user sector to the TPE market during the forecast period. This mainly results from the increased usage of TPE products for replacing rubber for manufacturing interior and exterior ancillaries, sealing systems, and under-the-hood components. The growth of the automotive industry in the emerging economies and the rising demand for hybrid and electric vehicles will increase the demand for TPE from automotive manufacturers in the next few years. The market also can be segmented into Americas, APAC, Europe, ROW, in terms of geography. APAC will be the major revenue contributor to the thermoplastic elastomers market during the forecast period. The growth of the automotive industry in the developing countries such as India, the emergence of China as one of the major manufacturing hubs, and the increased adoption of soft touch TPEs by the consumer electronics industry in countries and regions such as Japan, Hong Kong, Malaysia, Taiwan, and South Korea will be the major drivers for the market growth in APAC. Based on the report, the replacement of conventional materials is one of the major factors driving this market. TPEs are increasingly replacing conventionally used materials, including EPDM (M-class), NBR, PVC, and conventional plastics in various applications, such as automotive, electronics, healthcare, and packaging. However, the prices of volatile raw materials are one of the major factors restricting the growth of this market. Constant fluctuations in the prices of raw materials used for manufacturing TPEs poses a challenge to the manufacturers. Styrene, butadiene, ethylene, and polypropylene, the major raw materials used for producing TPEs, are produced from petrochemicals, such as ethane, butane, propane, and naphtha. The price of these petrochemicals depends on the price of the crude oil. The key players in the market stated in the report include China Petroleum & Chemical Corporation (Sinopec), Dynasol, LCY Chemical, LyondellBasell Industries, and PolyOne. Other prominent players in the market are Arkema, BASF, Covestro, DuPont, Evonik, Huntsman, and TSRC.