The Global Thermoplastic Elastomers (TPE) Market was valued at USD 13.03 Billion in 2024 and is projected to reach USD 17.91 Billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 4.8% during the forecast period (2024–2032). This growth is being driven by increasing demand from the automotive and footwear industries, the push for lightweight and sustainable materials, and expanding applications in the medical and construction sectors.

As industries worldwide seek versatile materials that combine the processing ease of plastics with the elasticity of rubber, the spotlight is on the key polymer producers who are driving innovation, sustainability, and performance. In this blog, we profile the Top 10 Companies in the Thermoplastic Elastomers Industry—a mix of chemical giants, specialty compounders, and sustainability pioneers shaping the future of advanced materials.

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🔟 1. DuPont de Nemours, Inc.

Headquarters: Wilmington, Delaware, USA
Key Offering: Hytrel® TPC-ET, Engage® Polyolefin Elastomers, Versollan® TPEs

DuPont is a global leader in high-performance polymers, with a significant portfolio of specialized TPEs. Their Hytrel® thermoplastic polyester elastomers are renowned for their exceptional toughness and resistance to chemicals and temperature, making them ideal for automotive, industrial, and consumer applications. The company’s extensive R&D capabilities focus on developing materials for electrification, sustainability, and advanced manufacturing.

Innovation Initiatives:

• Development of bio-based and recycled content TPE formulations

• Advanced materials for electric vehicle components and lightweighting

• Strategic partnerships with automotive OEMs and consumer goods brands

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9️⃣ 2. Arkema SA

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

Arkema is a pioneer in bio-based high-performance polymers, with its Pebax® Rnew® line derived from castor oil. These materials offer a unique combination of lightness, flexibility, and energy return, dominating applications in sports equipment, consumer electronics, and medical devices. The company’s strong commitment to sustainability drives its innovation in circular and bio-circular materials.

Innovation Initiatives:

• World’s first bio-based TPEs with up to 100% renewable carbon content

• Expansion of production capacity for high-performance polymers in Asia and North America

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8️⃣ 3. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: Elastollan® TPU, Styroflex® SBC, Ultramid® TPE

BASF is one of the world’s largest chemical producers, with a comprehensive TPE portfolio serving virtually every major industry. Their Elastollan® thermoplastic polyurethanes are particularly strong in automotive interiors, wire and cable, and footwear. BASF’s global production network and deep application development expertise make it a key supplier to multinational customers.

Innovation Initiatives:

• Development of TPEs with enhanced UV stability and weatherability

• Digital solutions for material selection and additive manufacturing

• Focus on closed-loop recycling and mass balance approaches

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7️⃣ 4. ExxonMobil Corporation

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

ExxonMobil is a major player in polyolefin-based elastomers, leveraging its integrated upstream and downstream operations. Vistamaxx® polymers enhance the flexibility, toughness, and elasticity of polypropylene and other thermoplastics, widely used in automotive parts, packaging, and hygiene products. The company’s scale ensures consistent quality and supply security for global customers.

Innovation Initiatives:

• Advanced polymer modifiers for lightweight automotive composites

• Expansion of specialty elastomers production capacity in Singapore and the U.S.

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Thermoplastic Elastomers (TPE) Market – View in Detailed Research Report

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6️⃣ 5. Dow Chemical Company

Headquarters: Midland, Michigan, USA
Key Offering: Engage™ Polyolefin Elastomers, Versify™ Plastomers & Elastomers

Dow is a leading producer of polyolefin elastomers, with technology platforms that enable tunable material properties for specific applications. Their Engage™ products are particularly valued in automotive exterior parts and polymer modification. Dow’s strength in feedstock integration and process technology gives it a competitive edge in cost and performance.

Innovation Initiatives:

• Development of TPEs for 3D printing and additive manufacturing

• Solutions for circular economy through advanced recycling technologies

• Partnerships for sustainable footwear and packaging applications

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5️⃣ 6. Kraton Corporation

Headquarters: Houston, Texas, USA
Key Offering: Cariflex™ ISPR, Sylvalite™ RE, NEXAR™ TPEs

Kraton is a leading global producer of styrenic block copolymers (SBCs), a foundational TPE technology. Their products are essential in adhesives, sealants, paving, roofing, and footwear. The company’s recent focus on innovation has yielded high-performance TPEs for medical and consumer applications, including sustainable alternatives.

Innovation Initiatives:

• Circular and bio-based SBC technologies under the CirKular+™ portfolio

• Expansion of hydrogenated styrenic block copolymer capacity in Europe

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4️⃣ 7. LG Chem

Headquarters: Seoul, South Korea
Key Offering: LUCENE® Polyolefin Elastomers, Solar EVA

LG Chem is a major Asian producer of TPEs, with strong positions in electronics, automotive, and industrial applications. The company’s integrated petrochemical operations provide stable access to key raw materials. LG Chem has been aggressively expanding its high-value specialty chemical portfolio, including advanced TPEs for electric vehicle batteries and renewable energy applications.

Innovation Initiatives:

• Development of TPEs for next-generation battery components and encapsulation

• Expansion of POE production for solar panel and automotive applications

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3️⃣ 8. Avient Corporation

Headquarters: Avon Lake, Ohio, USA
Key Offering: GLS™ TPEs, ColorMatrix™, Edge™ TPEs

Avient is a premier specialty thermoplastic materials company formed from the combination of PolyOne and Clariant’s masterbatch business. Their GLS™ TPE division is a leader in custom-compounded solutions for consumer, medical, and industrial markets. Avient excels at creating application-specific formulations with precise color, feel, and performance characteristics.

Innovation Initiatives:

• ReSound™ BIO and ReSound™ R recycled content TPEs

• Advanced soft-touch materials for consumer electronics and tools

• Specialized medical-grade TPEs with enhanced biocompatibility

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2️⃣ 9. Mitsubishi Chemical Group

Headquarters: Tokyo, Japan
Key Offering: TEFABLOC™ TPU, NOVATEC® PP, IUPILON® PC

Mitsubishi Chemical is a diversified chemical giant with significant TPE capabilities, particularly in thermoplastic polyurethanes and engineering polymers. The company’s materials are known for their precision and reliability, serving demanding applications in electronics, automotive, and medical devices. Their global technical support network provides deep application development expertise.

Innovation Initiatives:

• Development of high-heat and chemical-resistant TPU grades

• Bio-based material initiatives aligned with carbon neutrality goals

• Advanced polymer alloys for weight reduction and performance enhancement

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1️⃣ 10. Kuraray Co., Ltd.

Headquarters: Tokyo, Japan
Key Offering: SEPTON® SBS/SEBS, HYBRAR® SIS, KURARITY® acrylic TPE

Kuraray is a specialist in high-performance elastomers, particularly known for its SEPTON® series of hydrogenated styrenic block copolymers. These materials offer excellent heat resistance, weather ability, and mechanical properties for automotive, medical, and consumer applications. Kuraray’s focus on specialty chemicals gives it strong positions in niche, high-value TPE markets.

Innovation Initiatives:

• Development of transparent and super-soft TPE grades

• Expansion of medical-grade TPE portfolio for healthcare applications

• Sustainable material solutions using mass balance and bio-based feedstocks

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

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🌍 Outlook: The Future of Thermoplastic Elastomers Is Sustainable and High-Performance

The thermoplastic elastomers market is undergoing a significant transformation. While traditional applications in automotive and footwear continue to drive volume, the industry is investing heavily in sustainable alternatives, advanced manufacturing technologies, and high-value specialized formulations.

📈 Key Trends Shaping the Market:

• Rapid expansion of bio-based and recycled content TPE formulations across all regions

• Regulatory push for lightweight materials in automotive and packaging to meet sustainability targets

• Digitalization of material selection and additive manufacturing with TPEs

• Brand-manufacturer alliances for developing application-specific sustainable solutions

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

The companies listed above are not only supplying essential materials to global industries—they’re driving the innovation and sustainability transition across manufacturing sectors.