Introduction to South Korea Thermoplastic Elastomer Industry
Thermoplastic elastomers, also known as TPEs, are a class of copolymers or a physical mix of polymers that have both thermoplastic and elastomeric properties. TPEs can be repeatedly softened and reshaped by increasing temperature, and rehardened by decreasing temperature without any significant change in material properties. Unlike thermosetting polymers that solidify permanently when heated, TPEs retain the properties of elasticity despite melting when exposed to heat.
Major Types of TPEs
There Are Mainly Four Types Of Tpes That Are Commonly Used:
Styrenic Block Copolymers (SBCs) – Made from polystyrene and polybutadiene, SBCs have high tensile strength and oil/chemical resistance. They are used in applications like footwear, cables, and adhesive tapes.
Polyurethanes (TPUs) – These have high flexibility, abrasion resistance and softness. TPUs find applications in flexible foams, adhesives and coatings.
Copolyester Elastomers (COPEs) – Known for excellent hydrolytic stability and abrasion resistance. Used in automotive sector, medical tubing and wire and cable jacketing.
Polyamide Elastomers (PEs) – Have high melting point, rigidity and low moisture absorption. Used in hose and tube assemblies, sporting goods and fabrics.
South Korea’s Rapid Growth In TPE Production
South Korea has emerged as a major global hub for Thermoplastic Elastomer production over the last two decades. The country now accounts for over 15% of the global TPE market, second only to the USA. Some key factors that have contributed to South Korea’s TPE industry growth include:
– Large international conglomerates like LG Chem, Dow Chemical and BASF setting up extensive TPE manufacturing plants in Korea.
– Availability of raw materials and monomers required for TPE synthesis from large petrochemical industries in the country.
– Focus on R&D and investment in developing innovative TPE formulations suited for automotive, electronics and medical applications.
– Skilled workforce and strong manufacturing base to support mass production of TPE compounds.
– Duty exemptions and tax benefits offered by the government to promote the petrochemical industry.
– Proximity to major Asian consumer markets like China, Japan and Southeast Asian countries.
In 2020, South Korea’s TPE production capacity was estimated at over 1.2 million tons. Majority of this output was exported with Europe and USA being the largest buyers. Domestic demand is primarily from automotive, construction and consumer goods manufacturing sectors.
Leading The Way In Specialty South Korea Thermoplastic Elastomer Industry Development
While commodity TPE grades can be manufactured by many countries, South Korea has cemented its position as an innovation leader in specialty TPE formulations. Continuous R&D efforts by Korean companies have resulted in development of high-performance TPEs targeted at niche application areas:
– Bio-Based Tpes: Companies like SK Innovation and Dow are producing TPEs containing up to 30% plant-based bioplastics, reducing dependence on petroleum.
– Self-Healing Tpes: LG Chem has formulated TPUs with the ability to repair surface scratches or cuts when exposed to heat without leaving a trace.
– Plasticizer-Free Tpes: To overcome drawbacks of phthalate plasticizers, Hanwha Chemical developed non-phthalate SBCs for food contact and medical use.
– Conductive Tpes: With fillers like graphene and carbon nanotubes, borealis added electrical conductivity to TPEs for electronic device components.
– Flame Retardant Tpes: Using inorganic compounds, LG crafted highly flame resistant TPEs meeting Aircraft Interior Fire Resistance standards.
This focused approach on new product development has given Korean TPE makers an advantage in high-value markets like transportation, medical and wearables that demand innovative material solutions.
Driven by Automotive Electrification Trends
A major factor propelling South Korea’s TPE industry growth is the shift towards electric vehicles (EVs) and connected/autonomous cars. Korean auto giants Hyundai and Kia have committed massive investments in EV production. This opens huge opportunities for domestic TPE producers to supply lightweight, durable and cost-effective polymer components.
Key polymer applications in EVs and connectivity systems include wire and cable insulation, seals and gaskets, bumpers and cladding. TPE manufacturers are developing specialized elastomer grades with enhanced low temperature flexibility, greater heat resistance and reduced emissions profile. Niche TPE applications under research include sensors, hoses, gaskets and seals for advanced driver-assistance systems.
The rapidly evolving automotive landscape in Korea is stimulating collaborations between OEMs, parts makers and resin suppliers. Joint R&D on innovative TPE applications and closed-loop recycling systems will define the future direction of this specialization.
Overall, Driven by a strong manufacturing culture and focus on advanced materials innovation, South Korea has risen to become a dominant global player in thermoplastic elastomers. Continuous improvements in TPE production capabilities and development of high-performance specialty grades have created a competitive advantage. With huge investments planned in strategic sectors like EVs and healthcare, Korea’s TPE industry looks set for further growth and technology leadership in the decades ahead. Continued focus on sustainability and developing solutions for emerging application areas will help cement this position on the global stage.
*Note:
1.Source: CoherentMI, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it