The fast growing demand for lightweight, high-performance materials in the automotive field is the main reason for the great popularity of thermoplastic elastomers, and the automotive industry is the largest end-use market in the thermoplastic elastomer market, accounting for nearly 50% of the total TPE market consumption.

Automotive and construction and other end-use markets are gradually replacing PVC with thermoplastic polyurethane, and this shift is also one of the important factors driving the growth of the TPE market.

However, the market instability caused by the instability of the raw material market and the environmental concerns caused by environmental issues are the main factors hindering the development of the elastomer market.

At the same time, the above reasons are also forcing the world to develop bio-based alternatives to synthetic thermoplastic elastomers to meet the market's growing demand for clean thermoplastic elastomers, which is also a more economical solution.