The Global Thermoplastic Elastomers (TPE) Market was valued at USD 14.01 Billion in 2022 and is projected to reach USD 18.71 Billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 4.2% during the forecast period (2023–2029). This robust growth is propelled by escalating demand from key end-use industries like automotive, footwear, and construction, alongside the accelerating adoption of bio-based and recyclable TPEs to meet stringent sustainability mandates globally.

As industries worldwide pivot towards lightweighting, enhanced performance, and circular economy principles, the focus intensifies on the material innovators at the forefront of this transformation. In this blog, we profile the Top 10 Companies in the Thermoplastic Elastomers Industry—a blend of chemical giants, specialty compounders, and technology pioneers shaping the next generation of versatile, high-performance materials.

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🔟 1. Kraton Corporation

Headquarters: Houston, Texas, USA
Key Offering: Styrenic Block Copolymers (SBCs), Specialty Polymers

Kraton is a global leader in styrenic block copolymers, a dominant segment within the TPE market. Their innovative polymers are critical for applications requiring high elasticity, adhesion, and durability, serving markets from adhesives and roofing to high-performance footwear.

Sustainability and Innovation Initiatives:

• Development of CIRCLE™ products, bio-based and recyclable SBS polymers

• Commitment to sustainable sourcing and reducing environmental footprint

• R&D focus on enhancing polymer performance for circular economy applications

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9️⃣ 2. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: Elastollan® (TPU), Styroflex® (SBC), Other Engineered TPEs

BASF is a chemical powerhouse with a comprehensive portfolio of high-performance TPEs. Its Elastollan brand of Thermoplastic Polyurethanes is renowned for its abrasion resistance and versatility, used extensively in automotive, sports, and industrial applications.

Sustainability and Innovation Initiatives:

• Expansion of bio-based and compostable TPE offerings

• Integration of recycled content into TPE compounds

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8️⃣ 3. Dow Chemical Company

Headquarters: Midland, Michigan, USA
Key Offering: Engage® (POE), Versify® (Elastomers), Affinity® (Polyolefin Elastomers)

Dow is a key player in polyolefin elastomers (POEs) and other advanced TPEs. Its materials are essential for lightweight automotive parts, flexible packaging, and consumer goods, offering a unique balance of softness, toughness, and processability.

Sustainability and Innovation Initiatives:

• Advancing circular economy through partnerships for advanced recycling of plastics

• Development of TPEs with improved recyclability for mono-material packaging solutions

Download FREE Sample Report: Thermoplastic Elastomers (TPE) Market – View in Detailed Research Report

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7️⃣ 4. Arkema SA

Headquarters: Colombes, France
Key Offering: Pebax® (TPE), Rilsan® (Polyamide-based TPE)

Arkema specializes in high-performance specialty TPEs, particularly its renowned Pebax® elastomers. These materials are known for their exceptional lightweight properties and energy return, making them ideal for high-end sports equipment, medical devices, and electronics.

Sustainability and Innovation Initiatives:

• Pioneering bio-circular Pebax® Rnew® elastomers derived from castor beans

• Focus on developing materials for sustainable mobility and consumer goods

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6️⃣ 5. DuPont de Nemours, Inc.

Headquarters: Wilmington, Delaware, USA
Key Offering: Hytrel® (TPC-ET), DuPont™ Liveo® (Healthcare TPEs)

DuPont offers a robust portfolio of engineering-grade TPEs, including Hytrel® thermoplastic polyester elastomers. These materials excel in demanding applications requiring high temperature resistance and mechanical strength, such as automotive under-the-hood components and industrial hose/tubing.

Sustainability and Innovation Initiatives:

• Investment in bio-derived and renewable content for specialty polymers

• Development of TPEs compliant with stringent food-contact and medical regulations

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5️⃣ 6. ExxonMobil Chemical

Headquarters: Spring, Texas, USA
Key Offering: Vistamaxx® (Performance Polymers), Exact™ (Plastomers)

ExxonMobil is a major supplier of polyolefin-based elastomers and plastomers that function as key modifiers and standalone TPEs. Their products enhance the flexibility, toughness, and clarity of polypropylene and polyethylene compounds used in packaging and automotive.

Sustainability and Innovation Initiatives:

• Advanced recycling initiatives to transform plastic waste into raw materials for new polymers

• Focus on improving the sustainability profile of their hydrocarbon-based feedstocks

Download FREE Sample Report: Thermoplastic Elastomers (TPE) Market – View in Detailed Research Report

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4️⃣ 7. LG Chem

Headquarters: Seoul, South Korea
Key Offering: Lucene® (POE), Hi-zex® (Polyethylene)

LG Chem is a leading force in the Asian TPE market, producing a wide array of polyolefin elastomers and other advanced materials. The company’s products are critical for automotive interior and exterior parts, wire and cable, and consumer products.

Sustainability and Innovation Initiatives:

• Aggressive expansion of eco-friendly product portfolio, including bio-balanced materials

• Strategic investments in electric vehicle battery components and lightweight materials

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3️⃣ 8. Mitsubishi Chemical Group

Headquarters: Tokyo, Japan
Key Offering: TEFABLOC™ (TPV), DURABLEX™ (Olefin-based TPE)

Mitsubishi Chemical offers a diverse range of TPEs, including thermoplastic vulcanizates (TPVs) known for their rubber-like properties and chemical resistance. Their materials are extensively used in automotive seals, grips, and industrial components.

Sustainability and Innovation Initiatives:

• Development of TPEs using mass balance approaches for certified sustainable content

• Focus on creating materials that support carbon neutrality goals

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2️⃣ 9. HEXPOL AB

Headquarters: Malmö, Sweden
Key Offering: Dryflex® (TPE), Mellki® (TPV), TPE Compounding Solutions

HEXPOL is a world-leading polymer compounding group with a strong focus on custom TPE formulations. They specialize in tailoring materials to specific customer requirements across the medical, automotive, and consumer goods sectors.

Sustainability and Innovation Initiatives:

• Expertise in developing TPEs with recycled rubber and plastic content

• Strong focus on creating recyclable TPE compounds for a circular economy

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1️⃣ 10. Avient Corporation

Headquarters: Avon Lake, Ohio, USA
Key Offering: Dynalon® (TPE), GLS™ Thermoplastic Elastomers, Color and Additive Solutions

Avient is a premier provider of specialized and sustainable material solutions, including a wide range of custom-colored and performance-enhanced TPEs. They serve diverse markets with a strong emphasis on innovation and sustainability.

Sustainability and Innovation Initiatives:

• Industry-leading portfolio of TPEs with post-consumer recycled (PCR) content

• Development of biodegradable and bio-based TPE alternatives

Get Full Report Here: Thermoplastic Elastomers (TPE) Market – View in Detailed Research Report

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🌍 Outlook: The Future of Thermoplastic Elastomers Is Sustainable and Smart

The TPE market is undergoing a significant evolution. While conventional TPEs continue to dominate in volume, the industry is intensely focused on developing bio-based, recyclable, and smart material solutions to meet the demands of a resource-conscious world.

📈 Key Trends Shaping the Market:

• Rapid expansion of bio-based TPE production capacities in North America and Europe

• Regulatory and consumer push for higher recyclability and use of recycled content in products

• Integration of smart functionalities like self-healing and sensing capabilities into TPEs

• Strategic collaborations between material suppliers and brand owners for sustainable product development

Get Full Report Here: Thermoplastic Elastomers (TPE) Market – View in Detailed Research Report

The companies listed above are not only supplying essential materials to global industries—they are pioneering the sustainable material revolution that is critical for a greener future.