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Global market for TPEs expected to grow by 6.2 per cent CAGR

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The global market for TPEs is expected to grow at a compound annual growth rate (CAGR) of 6.2 per cent from 2019 to 2024, according to a new market study from Smithers Rapra.

The major growth for TPEs will depend largely on the success of the world’s automotive industry, given that the consumption in this market represents of 43 per cent of the global demand for TPEs in 2019.

This is set to grow at 6.6 per cent CAGR from 2019 to 2024.

The TPEs global market volumes have grown for 3.59 million tonnes in 2014 to an estimated 4.76 million tonnes in 2019, with the market being forecast to reach 6.42 million tonnes in 2024.

Regional growth is also strong, with the Asia-Pacific region leading in terms of size and showing a good growth rate, as it has already done for some time.

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