The global thermoplastic elastomers market size valued USD 2586.6 million in 2020 and expected to reach USD 38423.4 million by 2027, at a CAGR of 5.8% during the forecast period 2021 to 2027. Thermoplastic elastomers (TPE) are plastic that exhibit the properties of vulcanized elastomers (rubber) at room temperature, but can be processed like thermoplastic plastics when heated. TPEs are unique, eco-friendly thermoplastics that are not only recyclable but can also be re-molded and re-shaped, thereby eliminating wastage quite extensively. These offer various other advantages in terms of physical attributes & characteristics such as resistance to chemicals, UV, oxidation, and providing soft-touch to materials. These properties are increasingly driving rubber and conventional plastic material replacement by TPEs in their respective applications. Several federal bodies such as FDA, US Pharmacopeia regulate product applications in numerous end-use industries to ensure utmost consumer health and safety. These regulations affirm TPE utilization for commercial applications by providing guidelines for prudent product usage.