The Global Thermoplastic Elastomers for Automobile Market was valued at USD 8,237 Million in 2025 and is projected to reach USD 12,358 Million by 2034, growing at a Compound Annual Growth Rate (CAGR) of 6.2% during the forecast period (2024–2034). This robust growth is fueled by the automotive industry’s relentless pursuit of lightweighting, design flexibility, and manufacturing efficiency, alongside the accelerating global transition to electric vehicles.

As automakers innovate to meet stringent emissions standards and consumer demand for more comfortable, durable vehicles, the focus turns to the material science pioneers enabling this transformation. In this blog, we profile the Top 10 Companies in the Thermoplastic Elastomers for Automobile Industry—a dynamic mix of global chemical giants and specialized compounders shaping the future of automotive components.

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🔟 1. Kraton Corporation

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

Kraton Corporation is a leading global producer of styrenic block copolymers, a foundational chemistry for many TPEs. Their materials are essential for automotive applications such as soft-touch interior surfaces, weather seals, and adhesives. Kraton’s innovative solutions are critical for lightweighting and enhancing acoustic and vibration damping in modern vehicles.

Innovation Initiatives:

• Development of high-performance SBCs for exterior and interior applications

• Focus on sustainable and circular polymer solutions

• Strong R&D partnerships with global automotive OEMs and Tier-1 suppliers

Download FREE Sample Report: Thermoplastic Elastomers for Automobile Market – View in Detailed Research Report

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9️⃣ 2. DuPont de Nemours, Inc.

Headquarters: Wilmington, Delaware, USA
Key Offering: Thermoplastic Polyurethanes (TPU), Engineering Polymers

DuPont is a powerhouse in high-performance materials, with its TPU offerings playing a vital role in the automotive sector. DuPont TPUs are known for their exceptional abrasion resistance, mechanical strength, and flexibility, making them ideal for applications like instrument panel skins, airbag covers, and cable jacketing, especially in electric vehicles.

Innovation Initiatives:

• Advanced TPU grades for demanding under-the-hood and exterior applications

• Commitment to developing materials with recycled content

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8️⃣ 3. Mitsubishi Chemical Group

Headquarters: Tokyo, Japan
Key Offering: Thermoplastic Elastomers, Engineering Plastics

Mitsubishi Chemical Group offers a diverse portfolio of TPEs, including its proprietary TPE-E (Thermoplastic Polyester Elastomer) materials. These high-performance elastomers excel in applications requiring excellent heat and chemical resistance, such as constant velocity joint boots, air ducts, and connectors in hybrid and electric vehicles.

Innovation Initiatives:

• Development of high-heat resistance TPEs for electrified powertrains

• Expansion of sustainable material solutions across its portfolio

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7️⃣ 4. Avient Corporation

Headquarters: Avon Lake, Ohio, USA
Key Offering: Specialty Elastomers, Color and Additive Masterbatches

Avient Corporation is a specialist in providing tailored material solutions. Through strategic acquisitions, including the engineered materials business of DSM, Avient offers a wide range of high-performance TPEs like TPVs and TPUs. They are a key partner for automakers seeking customized materials for specific performance and aesthetic requirements.

Innovation Initiatives:

• Expertise in color matching and functional additives for automotive TPEs

• Focus on lightweighting solutions and sustainable material alternatives

Download FREE Sample Report: Thermoplastic Elastomers for Automobile Market – View in Detailed Research Report

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6️⃣ 5. INEOS Styrolution

Headquarters: Frankfurt, Germany
Key Offering: Styrenic Polymers, TPE Compounds

INEOS Styrolution is a leading global supplier of styrenic plastics, which form the base for many TPEs. The company provides advanced styrenic-based TPE compounds that offer a strong balance of properties and processability for automotive interior trim, console components, and functional parts.

Innovation Initiatives:

• Development of lightweight and high-flow materials for complex part designs

• Investment in advanced recycling technologies for styrenics

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5️⃣ 6. Kuraray Co., Ltd.

Headquarters: Tokyo, Japan
Key Offering: Thermoplastic Elastomers, SEPTON™ and HYBRAR™ TPEs

Kuraray is renowned for its high-performance hydrogenated styrenic block copolymers, sold under the SEPTON™ and HYBRAR™ brands. These TPEs offer superior elasticity, clarity, and heat resistance, making them suitable for high-end automotive applications like glass run channels, interior trim, and vibration damping components.

Innovation Initiatives:

• Focus on TPEs with excellent weatherability and compression set

• Development of materials for noise, vibration, and harshness (NVH) reduction

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4️⃣ 7. LG Chem

Headquarters: Seoul, South Korea
Key Offering: Engineering Plastics, TPE Compounds

As a major chemical company with deep ties to the global automotive industry, LG Chem produces a range of TPE materials. Their compounds are used in various automotive components, benefiting from the company’s strong position in the Asian market and its focus on materials for electric vehicles.

Innovation Initiatives:

• Integration of TPE solutions with battery and EV component offerings

• Strong focus on R&D for next-generation automotive materials

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3️⃣ 8. HEXPOL TPE

Headquarters: Malmö, Sweden
Key Offering: Thermoplastic Elastomer Compounds, Dryflex TPEs

HEXPOL TPE is a global compounding specialist focused exclusively on thermoplastic elastomers. Their Dryflex® TPEs are used in a wide array of automotive seals, grips, and interior components. The company is known for its customer-centric approach and ability to develop custom compounds for specific applications.

Innovation Initiatives:

• Expertise in developing TPEs for overmolding onto various substrates

• Growing portfolio of TPEs based on renewable and recycled raw materials

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2️⃣ 9. Celanese Corporation

Headquarters: Irving, Texas, USA
Key Offering: Engineering Thermoplastics, TPEs

Celanese is a leading global chemical and specialty materials company. Its portfolio includes high-performance TPEs used in demanding automotive environments. Celanese’s materials often find use in under-the-hood applications, fluid handling systems, and components requiring chemical resistance.

Innovation Initiatives:

• Development of TPEs that withstand high temperatures and aggressive fluids

• Focus on material solutions that enable vehicle electrification

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1️⃣ 10. SABIC

Headquarters: Riyadh, Saudi Arabia
Key Offering: Thermoplastics, Specialty Compounds

SABIC is a global leader in the chemical industry, offering a broad portfolio that includes thermoplastic elastomer compounds. Their materials are used across the automotive sector for interior and exterior applications. SABIC’s scale and global reach make it a key supplier to major OEMs worldwide.

Innovation Initiatives:

• Investment in circular economy solutions, including certified circular polymers

• Development of lightweight materials to improve fuel efficiency and EV range

Get Full Report Here: Thermoplastic Elastomers for Automobile Market – View in Detailed Research Report

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🚗 Outlook: The Future of Automotive TPEs Is Smarter and More Sustainable

The thermoplastic elastomers market for automobiles is undergoing a significant transformation. While traditional applications in seals and trim remain vital, the industry is innovating rapidly to support vehicle electrification, enhanced user experience, and circular economy goals.

📈 Key Trends Shaping the Market:

• Accelerated demand for high-heat and flame-retardant TPEs for electric vehicle battery components and charging infrastructure

• Increased use of overmolding and multi-material design for sophisticated interior touchpoints and haptic feedback

• Growing focus on bio-based, recycled-content, and more easily recyclable TPE formulations

• Continued substitution of thermoset rubbers to improve manufacturing efficiency and sustainability

Get Full Report Here: Thermoplastic Elastomers for Automobile Market – View in Detailed Research Report

The companies listed above are not only supplying essential materials—they’re pioneering the advanced material solutions that will define the next generation of automobiles.