Thermoplastic Vulcanizates Market Size, Share & Trends Report

Thermoplastic Vulcanizates Market Size, Share & Trends Analysis Report By Application (Automotive, Fluid Handling, Consumer Goods, Medical, Footwear, Others), By Region, And Segment Forecasts, 2023 - 2030

Report ID: 978-1-68038-362-1
Number of Pages: 80
Format: Electronic (PDF)

Historical Range: 2018 - 2021
Industry: Bulk Chemicals

Market Segmentation

Thermoplastic Vulcanizates Application Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)
- Automotive
- Fluid Handling
- Consumer goods
- Medical
- Footwear
- Others
Thermoplastic Vulcanizates Region Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)
- North America
  - North America Thermoplastic Vulcanizates Market by Application
    - Automotive
    - Fluid Handling
    - Consumer goods
    - Medical
    - Footwear
    - Others
  - U.S.
    - U.S. Thermoplastic Vulcanizates Market by Application
      - Automotive
      - Fluid Handling
      - Consumer goods
      - Medical
      - Footwear
      - Others
  - Canada
    - Canada Thermoplastic Vulcanizates Market by Application
      - Automotive
      - Fluid Handling
      - Consumer goods
      - Medical
      - Footwear
      - Others
  - Mexico
    - Mexico Thermoplastic Vulcanizates Market by Application
      - Automotive
      - Fluid Handling
      - Consumer goods
      - Medical
      - Footwear
      - Others
- Europe
  - Europe Thermoplastic Vulcanizates Market by Application
    - Automotive
    - Fluid Handling
    - Consumer goods
    - Medical
    - Footwear
    - Others
  - Germany
    - Germany Thermoplastic Vulcanizates Market by Application
      - Automotive
      - Fluid Handling
      - Consumer goods
      - Medical
      - Footwear
      - Others
  - France
    - France Thermoplastic Vulcanizates Market by Application
      - Automotive
      - Fluid Handling
      - Consumer goods
      - Medical
      - Footwear
      - Others
  - U.K.
    - U.K. Thermoplastic Vulcanizates Market by Application
      - Automotive
      - Fluid Handling
      - Consumer goods
      - Medical
      - Footwear
      - Others
  - Russia
    - Russia Thermoplastic Vulcanizates Market by Application
      - Automotive
      - Fluid Handling
      - Consumer goods
      - Medical
      - Footwear
      - Others
- Asia Pacific
  - Asia Pacific Thermoplastic Vulcanizates Market by Application
    - Automotive
    - Fluid Handling
    - Consumer goods
    - Medical
    - Footwear
    - Others
  - China
    - China Thermoplastic Vulcanizates Market by Application
      - Automotive
      - Fluid Handling
      - Consumer goods
      - Medical
      - Footwear
      - Others
  - India
    - India Thermoplastic Vulcanizates Market by Application
      - Automotive
      - Fluid Handling
      - Consumer goods
      - Medical
      - Footwear
      - Others
  - Japan
    - Japan Thermoplastic Vulcanizates Market by Application
      - Automotive
      - Fluid Handling
      - Consumer goods
      - Medical
      - Footwear
      - Others
  - Australia
    - Australia Thermoplastic Vulcanizates Market by Application
      - Automotive
      - Fluid Handling
      - Consumer goods
      - Medical
      - Footwear
      - Others
  - South Korea
    - South Korea Thermoplastic Vulcanizates Market by Application
      - Automotive
      - Fluid Handling
      - Consumer goods
      - Medical
      - Footwear
      - Others
- Central & South America
  - Central & South America Thermoplastic Vulcanizates Market by Application
    - Automotive
    - Fluid Handling
    - Consumer goods
    - Medical
    - Footwear
    - Others
  - Brazil
    - Brazil Thermoplastic Vulcanizates Market by Application
      - Automotive
      - Fluid Handling
      - Consumer goods
      - Medical
      - Footwear
      - Others
  - Argentina
    - Argentina Thermoplastic Vulcanizates Market by Application
      - Automotive
      - Fluid Handling
      - Consumer goods
      - Medical
      - Footwear
      - Others
- Middle East & Africa
  - Middle East & Africa Thermoplastic Vulcanizates Market by Application
    - Automotive
    - Fluid Handling
    - Consumer goods
    - Medical
    - Footwear
    - Others
  - Saudi Arabia
    - Saudi Arabia Thermoplastic Vulcanizates Market by Application
      - Automotive
      - Fluid Handling
      - Consumer goods
      - Medical
      - Footwear
      - Others
  - South Africa
    - South Africa Thermoplastic Vulcanizates Market by Application
      - Automotive
      - Fluid Handling
      - Consumer goods
      - Medical
      - Footwear
      - Others

Thermoplastic Vulcanizates Market Dynamics

Driver: Increasing consumption of lightweight materials in vehicles is pushing the demand for thermoplastic vulcanizates

The global thermoplastic vulcanizates (TPV) market is experiencing significant growth due to several factors. One of the main drivers is the increasing demand for lightweight components in the automotive and consumer goods sectors. Additionally, government policies aimed at reducing greenhouse gas emissions, particularly in developing economies like India, China, and Southeast Asian countries, are contributing to this growth. Furthermore, the market is driven by the rising demand for TPVs from end-use sectors such as automotive. As consumer habits change and regulations become more stringent, there is a greater need for affordable, fuel-efficient, and lightweight vehicles. Plastics, including thermoplastics, play a crucial role in automobile manufacturing, accounting for 10% of the total weight of a vehicle and making up approximately 70% of the 30,000 parts used in its production. The demand for TPVs is also fueled by trends in light-weighting, which aims to improve fuel efficiency and reduce greenhouse gas emissions. However, there is also a growing need for high-function polymeric materials, thermosets, and performance compounds like TPE, TPV, and EPDM in the automotive sector. Requirements for properties such as high absorption, durable sealing performance, safety standards, design flexibility, comfort, aesthetics, cost-effectiveness, end-of-life recycling, and sustainable manufacturing drive this need. The global TPV market is expected to grow in the forecast period due to these various factors.

Driver: Rising demand for bio-based thermoplastic vulcanizates (TPVs)

The global shortage of fossil resources and the rising prices of crude oil have necessitated the exploration of new solutions for producing thermoplastic vulcanizates (TVPs) using renewable raw materials. Concerns over the toxicity of petrochemicals and the depletion of crude oil reserves have been the driving force behind the development of bio-based TPVs. Government regulations that limit the use of petrochemical-based TPVs in specific applications, such as consumer goods and medical devices, are expected to further encourage the adoption of bio-based products in the thermoplastic vulcanizates market. Although the development of bio-based TPVs is still in its early stages in the field of thermoplastic elastomers, it holds immense potential as an alternative to its petrochemical counterparts. Additionally, bio-based TPVs have the ability to replace petrochemical-based TPVs in existing markets and create new opportunities, which is anticipated to result in profitable growth for bio-based thermoplastic vulcanizates in the years to come. Manufacturers are shifting their focus towards developing bio-based TPVs to reduce reliance on depleting fossil fuel reserves. Companies are actively developing product lines that utilize biodegradable and recycled materials to address concerns regarding the environmental impact of thermoplastic waste. Numerous small and medium-sized businesses have committed to using recycled or sustainably sourced materials within a specific timeframe.

Restraint: Fluctuation in the raw material prices restrain the market growth

The global market for thermoplastic vulcanizates (TPV) heavily relies on the petroleum industry to obtain key raw materials like ethylene and propylene, which are used in the production of major components such as EPDM and polypropylene. The price of crude oil, a commodity subject to significant fluctuations, greatly impacts the cost of plastic polymers due to factors like demand and supply, seasonal changes, natural disasters, and other influences. Political instability in oil-producing nations like Saudi Arabia, Iraq, and the Middle East has led to extreme price fluctuations. Additionally, social unrest and consumer concerns in Nigeria, Iraq, Venezuela, Iran, and Libya have negatively affected the supply of crude oil in recent years. The most significant drop in crude oil prices occurred in 2009, primarily due to reduced production among OPEC nations, with prices reaching USD 42.89 per barrel. A similar trend was observed in the recent past, as crude oil prices declined from USD 95.49 per barrel in 2014 to USD 43.14 per barrel in 2016.

What Does This Report Include?

This section will provide insights into the contents included in this thermoplastic vulcanizates market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

Thermoplastic vulcanizates market qualitative analysis

Industry overview
Industry trends
Market drivers and restraints
Market size
Growth prospects
Porter’s analysis
PESTEL analysis
Key market opportunities prioritized
Competitive landscape
- Company overview
- Financial performance
- Product benchmarking
- Latest strategic developments

Thermoplastic vulcanizates market quantitative analysis

Market size, estimates, and forecast from 2019 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance

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