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PUBLISHER: Polaris Market Research | PRODUCT CODE: 1287715
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1287715
Thermoplastic Vulcanizates Market Share, Size, Trends, Industry Analysis Report, By Application (Automotive, Fluid Handling, Consumer goods, Medical, Footwear, Others); By Region; Segment Forecast, 2023-2032
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The global thermoplastic vulcanizates market size is expected to reach USD 3,200.70 million by 2032, according to a new study by Polaris Market Research. The report "Thermoplastic Vulcanizates Market Share, Size, Trends, Industry Analysis Report, By Application (Automotive, Fluid Handling, Consumer goods, Medical, Footwear, Others); By Region; Segment Forecast, 2023-2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Demand for thermoplastic vulcanizates (TPV) is anticipated to rise throughout the forecast period due to a significant move toward substituting heavy metals with lightweight materials like TPV in automobiles. For instance, in December 2022, Elastron, a major worldwide thermoplastics firm, and Chase Plastics announced developing a new supplier alliance. Elastron V is a thermoplastic elastomer vulcanizate made from cross-linked EPDM.
Elastron V (TPV) grades are flexible, have a low compression set, and have outstanding mechanical qualities. They are employed in various market sectors, including automotive, medical, consumer, building, and industrial.
During the projection period, the demand for thermoplastic vulcanizates is anticipated to be supported by favorable government regulations that encourage using lightweight and recyclable materials in various industries, including automotive and construction. Thermoplastic vulcanizates are high-performance elastomers with excellent flexibility, great durability, and ease of manufacture.
They also strongly resist heat, liquids, and other auxiliary chemicals. These qualities make it a top choice for creating lightweight automobile components, including car doors, hood pieces, and weather seals. Consequently, these elements encourage market expansion. Additionally, TPV's expanding use in the healthcare sector is anticipated to be a key development factor for the market.
The main advantage of TPV is its lower cost; thermoplastic vulcanizates are between 10 and 30 percent less expensive than EPDM. Additionally, this material is highly flexible in design, has a low molecular weight, and is highly recyclable. These characteristics enable the material to be utilized to manufacture fuel-efficient automobiles. Every 10% decrease in vehicle weight is predicted to result in a 5-7% decrease in fuel consumption. Therefore, the TPV market will benefit from this rapid growth.
The increasing demand for energy-efficient and smart devices, and the growing adoption of renewable energy sources, are also driving the growth of the TPV market in the electrical and electronic industry. The aging population and the increasing demand for minimally invasive procedures are driving the increase in the medical industry. Additionally, the growing demand for single-use medical devices, which require flexible and durable materials, is also driving the growth of the TPV market in the medical industry.
Thermoplastic Vulcanizates Market Report Highlights
- Automotive segment is leading the global market, owing to various factors such as favorable government regulation, various advantages of TPV material and its being cost effective as compared to other materials.
- Europe is the second largest market for thermoplastic vulcanizates market due to the presence of major automobile manufacturers in the region.
- Asia Pacific region is estimated to grow at a high CAGR during the projected period due to increasing demand from automotive and constructing industries in this region.
- Global players include: Teknor Apex, Exxon Mobil Corporation, Mitsui Chemicals, Inc, Kumho Polychem and JSR Corporation
- Polaris Market Research has segmented the Thermoplastic Vulcanizates market report according to application and region:
Thermoplastic Vulcanizates, Application Outlook (Revenue - USD Million, 2019 - 2032)
- Automotive
- Fluid Handling
- Consumer Goods
- Medical
- Footwear
- Others
Thermoplastic Vulcanizates, Regional Outlook (Revenue - USD Million, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Product Code: PM3185
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
- 2.1. Market Highlights
3. Research Methodology
- 3.1. Overview
- 3.1.1. Data Mining
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Thermoplastic Vulcanizates Market Insights
- 4.1. Thermoplastic Vulcanizates Market - Industry Snapshot
- 4.2. Thermoplastic Vulcanizates Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Increasing consumption of lightweight materials in vehicles
- 4.2.1.2. Rising demand for biobased thermoplastic vulcanizates (TPVs)
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Fluctuation in the raw material prices
- 4.2.1. Drivers and Opportunities
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTLE Analysis
- 4.5. Value Chain Analysis
- 4.6. Thermoplastic Vulcanizates Industry trends
- 4.7. COVID-19 Impact Analysis
5. Global Thermoplastic Vulcanizates Market, by Application
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Thermoplastic Vulcanizates, by Application, 2019-2032 (USD Million)
- 5.3. Automotive
- 5.3.1. Global Thermoplastic Vulcanizates Market, by Automotive, by Region, 2019-2032 (USD Million)
- 5.4. Fluid Handling
- 5.4.1. Global Thermoplastic Vulcanizates Market, by Fluid Handling, by Region, 2019-2032 (USD Million)
- 5.5. Consumer goods
- 5.5.1. Global Thermoplastic Vulcanizates Market, by Consumer goods, by Region, 2019-2032 (USD Million)
- 5.6. Medical
- 5.6.1. Global Thermoplastic Vulcanizates Market, by Medical, by Region, 2019-2032 (USD Million)
- 5.7. Footwear
- 5.7.1. Global Thermoplastic Vulcanizates Market, by Footwear, by Region, 2019-2032 (USD Million)
- 5.8. Others
- 5.8.1. Global Thermoplastic Vulcanizates Market, by Others, by Region, 2019-2032 (USD Million)
6. Global Thermoplastic Vulcanizates Market, by Geography
- 6.1. Key findings
- 6.2. Introduction
- 6.2.1. Thermoplastic Vulcanizates Market Assessment, By Geography, 2019-2032 (USD Million)
- 6.3. Thermoplastic Vulcanizates Market - North America
- 6.3.1. North America: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- 6.3.2. Thermoplastic Vulcanizates Market - U.S.
- 6.3.2.1. U.S.: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- 6.3.3. Thermoplastic Vulcanizates Market - Canada
- 6.3.3.1. Canada: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- 6.4. Thermoplastic Vulcanizates Market - Europe
- 6.4.1. Europe: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- 6.4.2. Thermoplastic Vulcanizates Market - UK
- 6.4.2.1. UK: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- 6.4.3. Thermoplastic Vulcanizates Market - France
- 6.4.3.1. France: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- 6.4.4. Thermoplastic Vulcanizates Market - Germany
- 6.4.4.1. Germany: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- 6.4.5. Thermoplastic Vulcanizates Market - Italy
- 6.4.5.1. Italy: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- 6.4.6. Thermoplastic Vulcanizates Market - Spain
- 6.4.6.1. Spain: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- 6.4.7. Thermoplastic Vulcanizates Market - Netherlands
- 6.4.7.1. Netherlands: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- 6.4.8. Thermoplastic Vulcanizates Market - Austria
- 6.4.8.1. Austria: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- 6.5. Thermoplastic Vulcanizates Market - Asia Pacific
- 6.5.1. Asia Pacific: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- 6.5.2. Thermoplastic Vulcanizates Market - China
- 6.5.2.1. China: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- 6.5.3. Thermoplastic Vulcanizates Market - India
- 6.5.3.1. India: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- 6.5.4. Thermoplastic Vulcanizates Market - Malaysia
- 6.5.4.1. Malaysia: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- 6.5.5. Thermoplastic Vulcanizates Market - Japan
- 6.5.5.1. Japan: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- 6.5.6. Thermoplastic Vulcanizates Market - Indonesia
- 6.5.6.1. Indonesia: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- 6.5.7. Thermoplastic Vulcanizates Market - South Korea
- 6.5.7.1. South Korea: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- 6.6. Thermoplastic Vulcanizates Market - Middle East & Africa
- 6.6.1. Middle East & Africa: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- 6.6.2. Thermoplastic Vulcanizates Market - Saudi Arabia
- 6.6.2.1. Saudi Arabia: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- 6.6.3. Thermoplastic Vulcanizates Market - UAE
- 6.6.3.1. UAE: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- 6.6.4. Thermoplastic Vulcanizates Market - Israel
- 6.6.4.1. Israel: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- 6.6.5. Thermoplastic Vulcanizates Market - South Africa
- 6.6.5.1. South Africa: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- 6.7. Thermoplastic Vulcanizates Market - Latin America
- 6.7.1. Latin America: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- 6.7.2. Thermoplastic Vulcanizates Market - Mexico
- 6.7.2.1. Mexico: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- 6.7.3. Thermoplastic Vulcanizates Market - Brazil
- 6.7.3.1. Brazil: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- 6.7.4. Thermoplastic Vulcanizates Market - Argentina
- 6.7.4.1. Argentina: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
7. Competitive Landscape
- 7.1. Expansion and Acquisition Analysis
- 7.1.1. Expansion
- 7.1.2. Acquisitions
- 7.2. Partnerships/Collaborations/Agreements/Exhibitions
8. Company Profiles
- 8.1. JSR Corporation
- 8.1.1. Company Overview
- 8.1.2. Financial Performance
- 8.1.3. Product Benchmarking
- 8.1.4. Recent Development
- 8.2. Exxon Mobil Corp
- 8.2.1. Company Overview
- 8.2.2. Financial Performance
- 8.2.3. Product Benchmarking
- 8.2.4. Recent Development
- 8.3. Mitsui Chemicals
- 8.3.1. Company Overview
- 8.3.2. Financial Performance
- 8.3.3. Product Benchmarking
- 8.3.4. Recent Development
- 8.4. Kumho Polychem
- 8.4.1. Company Overview
- 8.4.2. Financial Performance
- 8.4.3. Product Benchmarking
- 8.4.4. Recent Development
- 8.5. Dawn Group
- 8.5.1. Company Overview
- 8.5.2. Financial Performance
- 8.5.3. Product Benchmarking
- 8.5.4. Recent Development
- 8.6. Celanese Corp
- 8.6.1. Company Overview
- 8.6.2. Financial Performance
- 8.6.3. Product Benchmarking
- 8.6.4. Recent Development
- 8.7. Mitsubishi Chemical
- 8.7.1. Company Overview
- 8.7.2. Financial Performance
- 8.7.3. Product Benchmarking
- 8.7.4. Recent Development
- 8.8. Ravago Manufacturing
- 8.8.1. Company Overview
- 8.8.2. Financial Performance
- 8.8.3. Product Benchmarking
- 8.8.4. Recent Development
- 8.9. Solvay
- 8.9.1. Company Overview
- 8.9.2. Financial Performance
- 8.9.3. Product Benchmarking
- 8.9.4. Recent Development
- 8.10. RTP Company
- 8.10.1. Company Overview
- 8.10.2. Financial Performance
- 8.10.3. Product Benchmarking
- 8.10.4. Recent Development
- 8.11. DuPont
- 8.11.1. Company Overview
- 8.11.2. Financial Performance
- 8.11.3. Product Benchmarking
- 8.11.4. Recent Development
- 8.12. Avient Corporation
- 8.12.1. Company Overview
- 8.12.2. Financial Performance
- 8.12.3. Product Benchmarking
- 8.12.4. Recent Development
- 8.13. FM Plastics
- 8.13.1. Company Overview
- 8.13.2. Financial Performance
- 8.13.3. Product Benchmarking
- 8.13.4. Recent Development
- 8.14. Elastron TPE
- 8.14.1. Company Overview
- 8.14.2. Financial Performance
- 8.14.3. Product Benchmarking
- 8.14.4. Recent Development
- 8.15. LCY GROUP
- 8.15.1. Company Overview
- 8.15.2. Financial Performance
- 8.15.3. Product Benchmarking
- 8.15.4. Recent Development
Product Code: PM3185
List of Tables
- Table 1 Global Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- Table 2 Thermoplastic Vulcanizates Market Assessment, By Geography, 2019-2032 (USD Million)
- Table 3 North America: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- Table 4 U.S.: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- Table 5 Canada: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- Table 6 Canada: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- Table 7 Europe: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- Table 8 Spain: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- Table 9 Netherlands: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- Table 10 Austria: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- Table 11 Germany: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- Table 12 Italy: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- Table 13 France: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- Table 14 Asia Pacific: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- Table 15 China: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- Table 16 Japan: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- Table 17 India: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- Table 18 Indonesia: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- Table 19 South Korea: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- Table 20 Malaysia: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- Table 21 Latin America: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- Table 22 Brazil: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- Table 23 Mexico: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- Table 24 Argentina: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- Table 25 Middle East & Africa: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- Table 26 South Africa: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- Table 27 Israel: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- Table 28 Saudi Arabia: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
- Table 29 UAE: Thermoplastic Vulcanizates Market, by Application, 2019-2032 (USD Million)
List of Figures
- Figure 1 Global Thermoplastic Vulcanizates Market, 2019-2032 (USD Million)
- Figure 2 Integrated Ecosystem
- Figure 3 Research Methodology: Top-Down & Bottom-Up Approach
- Figure 4 Market by Geography
- Figure 5 Porter's Five Forces
- Figure 6 Market by Application
- Figure 7 Global Thermoplastic Vulcanizates Market, by Application, 2023 & 2032 (USD Million)
- Figure 8 Thermoplastic Vulcanizates Market Assessment, By Geography, 2019-2032 (USD Million)
- Figure 9 Strategic Analysis - Thermoplastic Vulcanizates Market
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