According to IMARC Group’s latest report, titled “Thermoplastic Vulcanizates Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global thermoplastic vulcanizates market grew at a CAGR of around 4% during 2015-2020. Looking forward, the market is expected to exhibit moderate growth during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Thermoplastic vulcanizates (TPVs) are polymer blends consisting of finely dispersed micron-sized rubber particles in a thermoplastic matrix. They are manufactured by cross-linking melted rubber with thermoplastic material in controlled temperatures. TPVs exhibit properties of vulcanized rubber elastomers and thermoplastic materials. Compared to other polymers, they are durable, lightweight, resistant to heat, chemicals and fluids and have lower processing costs. As a result, TPVs find extensive applications to manufacture industrial and automobile components, consumer goods and electrical, sports, medical and personal care products.
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Market Trends
The expanding automotive industry is creating a positive outlook for the market. TPVs are used to produce lightweight automotive parts, such as bumpers, car doors, battery frames, weather seals, under-the-hood components, etc. Furthermore, the escalating demand for TPVs as a substitute for polyvinyl chloride (PVC) in the healthcare sector to manufacture catheters, blood bags and disposable gloves is further augmenting the market growth. Additionally, the introduction of bio-based TPVs made from renewable resources, such as starch-, cellulose and sot-based polymers, polylactides (PLAs) and polyhydroxyalkanoates (PHAs), is also providing a positive outlook to the global market. Besides this, the implementation of favorable government regulations promoting the use of TPVs for sustainable development is projected to further catalyze the market growth over the forecasted period.
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List of Key Companies Covered in this Market Report:
- Arkema S.A.
- Asahi Kasei Corporation
- BASF SE
- China Petroleum & Chemical Corporation
- DuPont de Nemours Inc.
- Exxon Mobil Corporation
- JSR Corporation
- LyondellBasell Industries N.V.
- Mitsubishi Chemical Corporation
- Mitsui Chemicals Inc.
- Tosoh Corporation.
The report has segmented the market on the basis of product type, application and geography.
Breakup by Product Type:
- EPDM/PP Blends
- NR/PP Blends
- Others
Breakup by Application:
- Automotive
- Building and Construction
- Consumer Goods
- Medical
- Others
Breakup By Geography:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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