In Asian countries, the thermoplastic elastomer price trend outlook remained skeptical as the demand from the automotive and its derivative sectors remained lackluster, leading to reduced production rates to prevent oversupply. Despite simulation in the industrial growth, the outlook of a number of Asian countries, such as China, India, and Singapore, remained bleak, with some minimal fluctuations throughout the first quarter of 2024.
In the conclusive quarter of 2023, there were regular variations in the Asian thermoplastic elastomer market. The pricing patterns of thermoplastic elastomer raw materials have an adverse impact on market movements. The thermoplastic elastomer market in China fluctuated more on the lower end of the price range on account of a substantial fall in the purchasing potential of consumers.
The thermoplastic elastomer (TPE) industries also struggled with unhealthy rates of procurement from the automotive sector despite a rise in sales. Additionally, excessive supply of the product caused the thermoplastic elastomer (TPE) price graph to experience a downfall.