The report on the thermoplastic copolyester elastomers market offered by Fact.MR provides key insights, historical data and forecast on the market. The report also offers in-depth analysis of the thermoplastic copolyester elastomers market. The report on the thermoplastic copolyester elastomers market also focuses on the qualitative and quantitative data along with the macroeconomic and micro-economic factors leading to the growth of the thermoplastic copolyester elastomers market. The study also covers market dynamics such as the key trends, market drivers, challenges, and growth opportunities in the thermoplastic copolyester elastomers market.
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Increasing Application of Thermoplastic Copolyester Elastomers in Automotive Industry Creating Sustained Opportunities
Usage of thermoplastic copolyester elastomers is growing in the automotive industry, owing to their superior physical and chemical properties. The automotive industry is using thermoplastic copolyester elastomers on a large scale to manufacture automotive parts where resistance to chemical, heat and oil is required.
Thermoplastic copolyester elastomers are finding significant applications in automotive hot charge air ducts in advanced petrol and diesel engines that need to withstand high temperatures for a very long period. Further, Constant Velocity Joint (CVJ) boots are being produced on a large scale using thermoplastic copolyester elastomers as it is subject to wide range of temperatures.
Several regulatory bodies have introduced emission standards that are accelerating the usage of low-weight material to increase fuel efficiency and high-performance in the automotive industry. This, in turn, is driving the demand for thermoplastic copolyester elastomers.
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Fluctuation in Raw Material Prices Remains a Longstanding Challenge
Volatility in raw material prices is likely to adversely affect the thermoplastic copolyester elastomers market in the future. This is likely to make it difficult for manufacturers to maintain regular supply for use in various industries. Fluctuating price structure of crude oil is directly impacting the overall production cost of the thermoplastic copolyester elastomers.
Variation in the exchange rate of key producers and exporters dealing in thermoplastic copolyester elastomers is also significantly impacting the development of the product. Rising crude oil prices are also likely to increase petrochemical costs along with the market price for plastic and other downstream chemicals.
Market Structure
The report offers a segment-wise analysis of the thermoplastic copolyester elastomers market to identify growth opportunities across various regions. The report on the thermoplastic copolyester elastomers market is segmented on the basis of the application. This segment is further divided into sub-segments to provide a better understanding of the market.
On the basis of the application, the market is segmented into Automotive Air Ducts, CVJ Boots, Medical, Electrical (wires & cables), Consumer goods, Industrial, and Other application.
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