The Global Thermoplastic Elastomers Market size is estimated to be USD 26.9 billion in 2023 and is projected to reach USD 35.3 billion in terms of value by 2028, at a CAGR of 5.6% between 2023 and 2028, as per the recent study by MarketsandMarkets™. The recovery of automotive sector across the world is driving the thermoplastic elastomers market during the forecast period.
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Bridgestone Retail Operations (BSRO), a subsidiary of Bridgestone Americas, announced that Andrew Richards is the company’s 2023 Automotive Service Excellence (ASE) Master Technician of the Year. Richards was recently honored at an awards ceremony held by the National Institute for Automotive Service Excellence.
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The International Trade Commission’s (ITC) issues affirmative preliminary determination on dumped truck and bus tires from Thailand.
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Toyo Tire U.S.A. Corp. (Toyo Tires®) announces the all-new Toyo® Proxes® R DOT competition tire, designed for dry road racing and high-performance driving on the track. The Proxes R builds upon the legacy of its predecessor, the Proxes® RR, offering racers quicker lap times, improved stability, and heightened responsiveness. The Proxes R has a new tread compound and reinforced sidewall for more grip and precision. Grassroots racers, track day enthusiasts, and those honing their skills at high-performance driving experiences will enjoy the exhilarating feeling of the Proxes R while achieving their best laps of the day.
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Market by Regions
The southern region of India, especially Kerala and Tamil Nadu, boasts extensive natural rubber plantations. Leveraging their production capabilities, these states cater to both domestic and international markets. Cities like Chennai and Bengaluru serve as significant hubs for automotive and electronics manufacturing, driving demand for rubber compounds and contributing to increased revenue in the region.
The Injection Molders Market in Europe is poised for robust growth, with a projected compound annual growth rate (CAGR) of 4.1% expected throughout the forecast period. Over this time frame, the market’s value is forecasted to experience significant expansion, surging from an estimated US$ 2,330.1 million in 2023 to reach a projected US$ 3,481.2 million by 2033 according to Future Market Insights. This growth trajectory underscores the sustained demand for injection molding services in Europe, driven by factors such as technological advancements, diverse industrial applications, and the region’s evolving manufacturing landscape.
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TotalEnergies Corbion, producers of Luminy® PLA, has joined the United Nations Global Compact initiative, committing to ten principles on human rights, labor, environment, and anti-corruption. The UN Global Compact aims to align businesses with sustainability principles and accelerate the achievement of the UN Sustainable Development Goals (SDG’s). This voluntary initiative relies on CEO commitments to implement universal sustainability principles.
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Chase Corporation announced the successful completion of its acquisition by affiliates of KKR, a leading global investment firm, for $127.50 per share. As a result of the completion of the transaction, Chase common stock has ceased trading and will no longer be listed on the NYSE American.
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Albemarle Corporation announced that Cynthia Lima has been promoted to senior vice president, chief external affairs and communications officer.
“We operate in an increasingly interconnected world, where our ability to engage with key stakeholders and the communities where we live and work is critical to our success,” said Albemarle CEO Kent Masters. “Cynthia’s leadership in navigating complex global issues across our footprint is evident today and will be increasingly valued as Albemarle continues to grow.”
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Milliken & Company received a gold rating on its 2023 EcoVadis assessment. EcoVadis provides trusted business sustainability ratings for more than 100,000 organizations representing more than 200 industries. Milliken’s 2023 EcoVadis score, assessed across its specialty chemical, textile, floor covering, and healthcare operations, places the company in the top 2% of organizations rated.
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