South Korea Thermoplastic Vulcanizates Market Size & Outlook
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South Korea thermoplastic vulcanizates market highlights
- The South Korea thermoplastic vulcanizates market generated a revenue of USD 38.2 million in 2025 and is expected to reach USD 66.3 million by 2033.
- The South Korea market is expected to grow at a CAGR of 6.9% from 2026 to 2033.
- In terms of segment, natural was the largest revenue generating grade in 2025.
- Natural is the most lucrative grade segment registering the fastest growth during the forecast period.
Thermoplastic vulcanizates market data book summary
| Market revenue in 2025 | USD 38.2 million |
| Market revenue in 2033 | USD 66.3 million |
| Growth rate | 6.9% (CAGR from 2026 to 2033) |
| Largest segment | Natural |
| Fastest growing segment | Natural |
| Historical data | 2021 - 2024 |
| Base year | 2025 |
| Forecast period | 2026 - 2033 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Natural, Standard Black, Pre-Colored |
| Key market players worldwide | JSR Corp, Exxon Mobil Corp, DuPont de Nemours Inc, Mitsui Chemicals Inc, Celanese Corp Class A, LyondellBasell Industries NV Class A, Mitsubishi Electric Corp, Ravago Chemicals, Kumho Petrochemical, Avient Corp, Ravago |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.0% of the global thermoplastic vulcanizates market in 2025.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2033.
- In Asia Pacific, China thermoplastic vulcanizates market is projected to lead the regional market in terms of revenue in 2033.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 121.2 million by 2033.
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Thermoplastic Vulcanizates Market Scope
Thermoplastic Vulcanizates Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Ravago Chemicals | View profile | 501-1000 | Orlando, Florida, United States, North America | https://ravagochemicals.com |
| Ravago | View profile | 5001-10000 | Orlando, Florida, United States, North America | http://www.ravago.com |
| Kumho Petrochemical | View profile | 1001-5000 | Seoul, Seoul-t'ukpyolsi, South Korea, Asia | https://www.kkpc.com/ |
| JSR Corp | View profile | 7994 | 1-9-2 Higashi-Shimbashi, Shiodome Sumitomo Building, 22nd Floor, Minato-ku, Tokyo, Japan, 105-8640 | http://www.jsr.co.jp |
| Mitsui Chemicals Inc | View profile | 18933 | 1-5-2, Higashi-Shimbashi, Shiodome City Center, Minato-ku, Tokyo, Japan, 105-7122 | http://group.mitsuichemicals.com |
| Celanese Corp Class A | View profile | 12410 | 222 West Las Colinas Boulevard, Suite 900N, Irving, TX, United States, 75039-5421 | https://www.celanese.com |
| DuPont de Nemours Inc | View profile | 24000 | 974 Centre Road, Building 730, Wilmington, DE, United States, 19805 | https://www.dupont.com |
| Exxon Mobil Corp | View profile | 61500 | 22777 Springwoods Village Parkway, Spring, TX, United States, 77389-1425 | https://www.exxonmobil.com |
| LyondellBasell Industries NV Class A | View profile | 20000 | One Vine Street, 4th Floor, London, United Kingdom, W1J0AH | https://www.lyondellbasell.com |
| Avient Corp | View profile | 9300 | 33587 Walker Road, Avon Lake, OH, United States, 44012 | https://www.avient.com |
| Mitsubishi Electric Corp | View profile | 149134 | Tokyo Building, 2-7-3, Marunouchi, Chiyoda-ku, Tokyo, Japan, 100-8310 | https://www.mitsubishielectric.com |
South Korea thermoplastic vulcanizates market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to thermoplastic vulcanizates market will help companies and investors design strategic landscapes.
Natural was the largest segment with a revenue share of 59.95% in 2025. Horizon Databook has segmented the South Korea thermoplastic vulcanizates market based on natural, standard black, pre-colored covering the revenue growth of each sub-segment from 2021 to 2033.
The growing automotive industry is anticipated to play a significant role in the TPV market in South Korea. South Korea is one of the prominent manufacturers of automobiles globally. The country exports cars mainly to Australia, the UK, Russia, the U.S., Saudi Arabia, Canada, Mexico, and Italy.
Factors such as the availability of cheap labor, proximity to raw material suppliers, substantial tax benefits for R&D, and product testing by government agencies are attracting investors to the automotive industry in South Korea. Furthermore, the self-driving technology is growing significantly in South Korea. The country has successfully implemented self-driving vehicles for commercial use.
In April 2024, Hyundai Motor Group announced the testing of its innovative autonomous vehicles. The South Korean government has also been providing increased support for autonomous driving technology. For instance, in December 2023, the Seoul Metropolitan Government launched two Shimya A21 autonomous buses, which span 9.8 km. The buses can be used by passengers free of cost.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea thermoplastic vulcanizates market , including forecasts for subscribers. This country databook contains high-level insights into South Korea thermoplastic vulcanizates market from 2021 to 2033, including revenue numbers, major trends, and company profiles.
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South Korea thermoplastic vulcanizates market size, by grade, 2021-2033 (US$M)
South Korea Thermoplastic Vulcanizates Market Outlook Share, 2025 & 2033 (US$M)
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