Mitsui Chemicals has announced plans to acquire Asahi Kasei business for SUNVIEO™ thermoplastic styrene elastomer (TPS) on Dec. 1, 2017. According to Mitsui, acquiring SUNVIEO™ will not only help add TPS to the company’s product lineup but will also allow the company to respond to a wider range of needs across numerous areas, including automotive parts and consumer products. Besides, the company also expects the acquisition to further differentiate its existing MILASTOMER™ lineup from the competition.

Used primarily in the automotive industry, thermoplastic elastomers are being met with growing global demand as a replacement for polyvinyl chloride and vulcanized rubber. Mitsui Chemicals has so far supplied its MILASTOMER™ thermoplastic elastomer for a growing range of automotive applications.

The company’s thermoplastic vulcanizate elastomer (TPV) has seen use in automotive interior skin, weather strips, steering gear boots and more. Meanwhile, its thermoplastic olefin elastomer (TPO) has been used for parts such as airbag covers.