Introduction to South Korea Thermoplastic Elastomer Market
Thermoplastic elastomers (TPEs), also known as thermoplastic rubbers, are a class of copolymers or a physical mix of polymers that consist of materials with both thermoplastic and elastomeric properties. Thermoplastic elastomers differ from conventional thermoset elastomers because they can be recycled, reprocessed or reshaped by heating and mechanical processes using conventional plastic forming equipment.
South Korea Thermoplastic Elastomer Market
South Korea has developed a robust Thermoplastic Elastomer industry over the past few decades. According to a 2020 industry report, South Korea was the fourth largest producer of TPEs globally, accounting for over 8% of worldwide production. Major South Korean TPE producers include LG Chem, SK Global Chemical, and Kolon Industries. These companies have made large investments in TPE manufacturing facilities and R&D centers to develop new materials and applications.
Common Types of Thermoplastic Elastomers Produced in South Korea
Styrenic Block Copolymers (SBCs)
SBCs are the largest and most common type of TPE produced in South Korea. They consist of hard polystyrene end blocks connected by a soft polybutadiene or polyisoprene mid block. SBCs offer strength, flexibility and easier processing compared to other elastomers. Major applications include footwear, adhesives, sealants and roofing membranes.
Thermoplastic Polyurethanes (TPUs)
TPUs are highly elastic materials with high tear and abrasion resistance. South Korean companies produce TPUs using polyols and diisocyanates or polyester polyols. Common applications include hoses, cables, medical devices and home furnishings.
Thermoplastic Vulcanizates (TPVs)
TPVs are composed of dispersed rubber domains cross-linked with vinyl groups within a continuous plastic matrix. They can be fabricated and recycled like plastics while maintaining rubber-like properties. TPVs are widely used in automotive parts, hoses and sport equipment in South Korea.
Major End Use Applications and Trends
Automotive
The automotive industry is a prominent end user of TPEs in South Korea thanks to high domestic car production. TPEs are favored for applications like hoses, gaskets, weather-stripping and exterior/interior trim due to their flexibility, durability and design versatility.
Footwear
Footwear manufacturers utilize TPEs for shoe outsoles and midsoles to provide flexibility, abrasion resistance and lightweight designs. Supported by a thriving athletic shoe industry, footwear represents a major TPE application sector.
Medical Devices
Biocompatible TPEs are increasingly employed in medical devices for their flexibility, tear resistance and ability to be sterilized. Common uses include tubing, catheters, syringe plungers and orthopedic devices. Growth in Korea’s medical devices industry aids the TPE market.
Wire and Cable Insulation
Thermoplastic polyurethanes offer desirable physical properties for wire and cable insulation including cut-through and wear resistance. Their recyclability is also an advantage, driving demand within Korea’s electronics and automotive cable industries.
Continued Innovation and Market Potential
South Korean TPE producers continue innovating materials for emerging applications in e-mobility, renewable energy, aerospace, defense and more.
In Summary, opportunities exist in developing biodegradable TPE formulations and conducting further lifecycle assessment studies. As vehicle electrification, 5G infrastructure and healthcare devices expand, the demand outlook for high performance thermoplastic elastomers in South Korea remains very positive.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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