Summary

Mexico Thermoplastic Elastomer Market Summary

The Mexico thermoplastic elastomer market size was valued at USD 428.05 million in 2024 and is expected to reach USD 871.65 million by 2033, growing at a CAGR of 8.4% from 2025 to 2033. The rise in demand for various end-products of industries such as consumer goods, electrical and electronics, medical, and automotive in North America is driving the demand for TPEs in the country.

The thermoplastic elastomers (TPE) market in Mexico is projected to experience consistent growth, fueled by increasing demand from major sectors including automotive, construction, consumer goods, and electronics. TPEs provide a distinctive blend of flexibility, durability, and recyclability, making them suitable for lightweight vehicle parts, ergonomic consumer products, and adaptable seals in infrastructure applications. The country’s growing manufacturing sector, enhanced trade ties with the U.S., and a rising inclination towards sustainable and cost-effective materials further contribute to this growth. Changes in regulations and sustainability goals set by original equipment manufacturers (OEMs) are driving the adoption of recyclable and halogen-free TPE formulations across various industries.

Moreover, the swift growth of urban areas, investments in infrastructure, and the rise in production of vehicles and appliances are driving the use of thermoplastic elastomers in Mexico. As industries that utilize these materials place more importance on performance, design versatility, and adherence to environmental standards, TPEs are becoming more favorable compared to conventional materials. With continuous improvements in processing technologies and an increasing awareness of circular economy concepts, the market is set for steady growth in the coming years.

Mexico Thermoplastic Elastomer Market Report Segmentation

This report forecasts volume & revenue growth at the country level and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the Mexico thermoplastic elastomer market report on the basis of grade, material, and applications:

• Grade Outlook (Volume, Kilotons; Revenue, USD Million, 2021 - 2033)
• Styrenic Block Copolymers
• Thermoplastic Polyolefins
• Thermoplastic Vulcanizates
• Thermoplastic Polyurethanes
• Thermoplastic Copolyester Elastomers
• Thermoplastic Polyamides
• Material Outlook (Volume, Kilotons; Revenue, USD Million, 2021 - 2033)
• Polystyrenes
• Poly Olefins
• Poly Ether Imides
• Polyurethanes
• Poly Esters
• Polyamides
• Applications Outlook (Volume, Kilotons; Revenue, USD Million, 2021 - 2033)
• Automotive
• Electrical & Electronics
• Industrial
• Medical
• Consumer Goods
• Other Applications

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Table of Contents

Table of Contents

Chapter 1 Methodology and Scope
1.1 Market Segmentation & Scope
1.2 Market Definitions
1.3 Information procurement
1.3.1 Information analysis
1.3.2 Market formulation & data visualization
1.3.3 Data validation & publishing
1.4 Research Scope and Assumptions
1.4.1 List of Data Sources
Chapter 2 Executive Summary
2.1 Market Snapshot 2024
2.2 Segment Snapshot (1/3)
2.3 Segment Snapshot (2/3)
2.4 Segment Snapshot (3/3)
2.5 Competitive Landscape Snapshot
Chapter 3 Mexico Thermoplastic Elastomer Market: Variables and Trends
3.1 Market Lineage Outlook
3.1.1 Global Elastomer Market Outlook
3.2 Industry Value Chain Analysis
3.2.1 Major Raw Material Trends
3.2.1.1 Styrenic Block Copolymers
3.2.1.2 Thermoplastic Polyolefin Elastomer
3.2.1.3 Thermoplastic Vulcanizates
3.2.1.4 Thermoplastic Polyurethane Elastomer
3.2.1.5 Thermoplastic Copolyester Elastomer
3.2.1.6 Thermoplastic Polyamide Elastomer
3.2.2 Technology Trends
3.2.2.1 Shift Toward Advanced Compounding & Blending Techniques
3.2.2.2 Adoption of Dynamic Vulcanization (TPV)
3.2.2.3 Expansion of SEBS and Olefin-Based TPEs for Soft-Touch Applications
3.2.2.4 Emergence of 3D Printing-Compatible TPEs
3.2.2.5 Advancements in Injection Molding Techniques
3.2.2.6 Shift Toward Eco-Friendly and Recyclable TPEs
3.2.2.7 Automation & Digitalization in TPE Processing
3.3 Regulatory Framework
3.3.1 Policies and Incentive Plans
3.3.2 Standards & Compliances
3.3.3 Safety
3.4 Trade Analysis (HS Code: 390390)
3.4.1 Import Tariffs and Conditions
3.4.2 Import Market Size, in Volume (Kg) and Value (USD)
3.4.2.1 Annual Import Trend Analysis, 2018 to 2024
3.4.2.2 Total Import Volume (Kg) and Value (USD), 2024
3.4.2.3 Import Unit Price Condition Analysis
3.4.3 List of Key Exporting Countries and Suppliers
3.4.3.1 List of Key Exporting Countries
3.4.3.2 List of Key Suppliers
3.5 Market Dynamics
3.5.1 Market Driver Analysis
3.5.1.1 Robust Automotive Manufacturing & Lightweighting Trends
3.5.1.2 Thriving Manufacturing Hub & Nearshoring Momentum
3.5.2 Market Restraint Analysis
3.5.2.1 Limited Domestic High Performance TPE Production
3.5.3 Industry Challenges
3.5.4 Industry Opportunities
3.6 Market Business Environment Analysis
3.6.1 Industry Analysis: Porter’s Five Forces Model
3.6.2 Macroeconomic Environment Analysis
Chapter 4 Mexico Thermoplastic Elastomer Market: Grade Estimates & Trend Analysis
4.1 Grade Movement Analysis & Market Share Volume, 2024 & 2033
4.2 Grade Movement Analysis & Market Share Revenue, 2024 & 2033
4.3 Mexico Thermoplastic Elastomer Market Estimates & Forecasts, by Grade (Kilotons) (USD Million)
4.3.1 Styrenic Block Copolymers
4.3.1.1 Mexico Styrenic Block Copolymers Market Estimates & Forecasts, 2021 - 2033 (Kilotons) (USD Million)
4.3.2 Thermoplastic Polyolefins
4.3.2.1 Mexico Thermoplastic Polyolefins Market Estimates & Forecasts, 2021 - 2033 (Kilotons) (USD Million)
4.3.3 Thermoplastic Vulcanizates
4.3.3.1 Mexico Thermoplastic Vulcanizates Market Estimates & Forecasts, 2021 - 2033 (Kilotons) (USD Million)
4.3.4 Thermoplastic Polyurethanes
4.3.4.1 Mexico Thermoplastic Polyurethanes Market Estimates & Forecasts, 2021 - 2033 (Kilotons) (USD Million)
4.3.5 Thermoplastic Copolyester Elastomer
4.3.5.1 Mexico Thermoplastic Copolyester Elastomer Market Estimates & Forecasts, 2021 - 2033 (Kilotons) (USD Million)
4.3.6 Thermoplastic Polyamides
4.3.6.1 Mexico Thermoplastic Polyamides Market Estimates & Forecasts, 2021 - 2033 (Kilotons) (USD Million)
Chapter 5 Mexico Thermoplastic Elastomer Market: Material Estimates & Trend Analysis
5.1 Material Movement Analysis & Market Share Volume, 2024 & 2033
5.2 Material Movement Analysis & Market Share Revenue, 2024 & 2033
5.3 Mexico Thermoplastic Elastomer Market Estimates & Forecasts, by Material (Kilotons) (USD Million)
5.3.1 Polystyrenes
5.3.1.1 Mexico Thermoplastic Elastomer Market Estimates & Forecasts, by Polystyrenes, 2021 - 2033 (Kilotons) (USD Million)
5.3.2 Poly Olefins
5.3.2.1 Mexico Thermoplastic Elastomer Market Estimates & Forecasts, by Poly Olefins, 2021 - 2033 (Kilotons) (USD Million)
5.3.3 Poly Ether Imides
5.3.3.1 Mexico Thermoplastic Elastomer Market Estimates & Forecasts, by Poly Ether Imides, 2021 - 2033 (Kilotons) (USD Million)
5.3.4 Polyurethanes
5.3.4.1 Mexico Thermoplastic Elastomer Market Estimates & Forecasts, by Polyurethanes, 2021 - 2033 (Kilotons) (USD Million)
5.3.5 Poly Esters
5.3.5.1 Mexico Thermoplastic Elastomer Market Estimates & Forecasts, by Poly Esters, 2021 - 2033 (Kilotons) (USD Million)
5.3.6 Poly Amides
5.3.6.1 Mexico Thermoplastic Elastomer Market Estimates & Forecasts, by Poly Amides, 2021 - 2033 (Kilotons) (USD Million)
Chapter 6 Mexico Thermoplastic Elastomer Market: Applications Estimates & Trend Analysis
6.1 Applications Movement Analysis & Market Share Volume, 2024 & 2033
6.2 Applications Movement Analysis & Market Share Revenue, 2024 & 2033
6.3 Mexico Thermoplastic Elastomer Market Estimates & Forecasts, by Applications (Kilotons) (USD Million)
6.3.1 Automotive
6.3.1.1 Mexico Thermoplastic Elastomer in Automotive Market Estimates & Forecasts, 2021 - 2033 (Kilotons) (USD Million)
6.3.2 Electrical & Electronics
6.3.2.1 Mexico Thermoplastic Elastomer in Electrical & Electronics & Dryers Market Estimates & Forecasts, 2021 - 2033 (Kilotons) (USD Million)
6.3.3 Industrial
6.3.3.1 Mexico Thermoplastic Elastomer in Industrial Market Estimates & Forecasts, 2021 - 2033 (Kilotons) (USD Million)
6.3.4 Medical
6.3.4.1 Mexico Thermoplastic Elastomer in Medical Market Estimates & Forecasts, 2021 - 2033 (Kilotons) (USD Million)
6.3.5 Consumer Goods
6.3.5.1 Mexico Thermoplastic Elastomer in Consumer Goods Market Estimates & Forecasts, 2021 - 2033 (Kilotons) (USD Million)
6.3.6 Other applications
6.3.6.1 Mexico Thermoplastic Elastomer in Other Applications Market Estimates & Forecasts, 2021 - 2033 (Kilotons) (USD Million)
Chapter 7 Mexico Thermoplastic Elastomer Market: Competitive Landscape
7.1 Recent Developments & Their Impact Analysis, by Key Market Participants
7.2 Company Categorization
7.3 Vendor Landscape
7.3.1 List of Key Distributors and Channel Partners
7.3.2 List of Potential Customers/Key End Users
7.4 Company Market Share Analysis, 2024
7.5 Strategy Mapping
7.5.1 Expansions
7.5.2 Mergers & Acquisitions
7.5.3 Product Launches
7.5.4 Partnerships/Collaborations
7.6 Company Heat Map Analysis
Chapter 8 Mexico Thermoplastic Elastomer Market: Company Profiles
8.1 Participant’s Overview
8.2 Financial Performance
8.3 Product Benchmarking
8.4. ExxonMobil Chemical
8.5. Hexpol TPE
8.6. Mitsui Chemicals
8.7. Teknor Apex
8.8. Lubrizol Advanced Materials
8.9. Celanese Corporation
8.10. DIC Corporation
8.11. BASF SE
8.12. DSM Engineering Materials (DSM-Firmenich)
8.13. KRAIBURG TPE GmbH & Co. KG