Thermoplastic Vulcanizates Market Size, Share & Trends Report

Thermoplastic Vulcanizates Market (2024 - 2030) Size, Share & Trends Analysis Report By Application (Automotive, Fluid Handling), By Grade, By Processing Method, By Region, And Segment Forecasts

Market Segmentation

Thermoplastic Vulcanizates Grade Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)
- Natural
- Standard Black
- Pre-Colored
- Others
Thermoplastic Vulcanizates Processing Method Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)
- Injection Molding
- Extrusion Molding
- Blow Molding
Thermoplastic Vulcanizates Application Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)
- Automotive
  - Exteriors
  - Interiors
- Construction & Architecture
- Consumer goods
- Electric & Electronics
- Medical & Healthcare
- Others
Thermoplastic Vulcanizates Regional Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)
- North America
  - North America Thermoplastic Vulcanizates Market, by Grade
    - Natural
    - Standard Black
    - Pre-Colored
    - Others
  - North America Thermoplastic Vulcanizates Market, by Processing Method
    - Injection Molding
    - Extrusion Molding
    - Blow Molding
  - North America Thermoplastic Vulcanizates Market, by Application
    - Automotive
      - Exteriors
      - Interiors
    - Construction & Architecture
    - Consumer goods
    - Electric & Electronics
    - Medical & Healthcare
    - Others
  - U.S.
    - U.S. Thermoplastic Vulcanizates Market, by Grade
      - Natural
      - Standard Black
      - Pre-Colored
      - Others
    - U.S. Thermoplastic Vulcanizates Market, by Processing Method
      - Injection Molding
      - Extrusion Molding
      - Blow Molding
    - U.S. Thermoplastic Vulcanizates Market, by Application
      - Automotive
        
        Exteriors
        
        Interiors
      - Construction & Architecture
      - Consumer goods
      - Electric & Electronics
      - Medical & Healthcare
      - Others
  - Canada
    - Canada Thermoplastic Vulcanizates Market, by Grade
      - Natural
      - Standard Black
      - Pre-Colored
      - Others
    - Canada Thermoplastic Vulcanizates Market, by Processing Method
      - Injection Molding
      - Extrusion Molding
      - Blow Molding
    - Canada Thermoplastic Vulcanizates Market, by Application
      - Automotive
        
        Exteriors
        
        Interiors
      - Construction & Architecture
      - Consumer goods
      - Electric & Electronics
      - Medical & Healthcare
      - Others
  - Mexico
    - Mexico Thermoplastic Vulcanizates Market, by Grade
      - Natural
      - Standard Black
      - Pre-Colored
      - Others
    - Mexico Thermoplastic Vulcanizates Market, by Processing Method
      - Injection Molding
      - Extrusion Molding
      - Blow Molding
    - Mexico Thermoplastic Vulcanizates Market, by Application
      - Automotive
        
        Exteriors
        
        Interiors
      - Construction & Architecture
      - Consumer goods
      - Electric & Electronics
      - Medical & Healthcare
      - Others
- Europe
  - Europe Thermoplastic Vulcanizates Market, by Grade
    - Natural
    - Standard Black
    - Pre-Colored
    - Others
  - Europe Thermoplastic Vulcanizates Market, by Processing Method
    - Injection Molding
    - Extrusion Molding
    - Blow Molding
  - Europe Thermoplastic Vulcanizates Market, by Application
    - Automotive
      - Exteriors
      - Interiors
    - Construction & Architecture
    - Consumer goods
    - Electric & Electronics
    - Medical & Healthcare
    - Others
  - Germany
    - Germany Thermoplastic Vulcanizates Market, by Grade
      - Natural
      - Standard Black
      - Pre-Colored
      - Others
    - Germany Thermoplastic Vulcanizates Market, by Processing Method
      - Injection Molding
      - Extrusion Molding
      - Blow Molding
    - Germany Thermoplastic Vulcanizates Market, by Application
      - Automotive
        
        Exteriors
        
        Interiors
      - Construction & Architecture
      - Consumer goods
      - Electric & Electronics
      - Medical & Healthcare
      - Others
  - France
    - France Thermoplastic Vulcanizates Market, by Grade
      - Natural
      - Standard Black
      - Pre-Colored
      - Others
    - France Thermoplastic Vulcanizates Market, by Processing Method
      - Injection Molding
      - Extrusion Molding
      - Blow Molding
    - France Thermoplastic Vulcanizates Market, by Application
      - Automotive
        
        Exteriors
        
        Interiors
      - Construction & Architecture
      - Consumer goods
      - Electric & Electronics
      - Medical & Healthcare
      - Others
  - U.K.
    - UK Thermoplastic Vulcanizates Market, by Grade
      - Natural
      - Standard Black
      - Pre-Colored
      - Others
    - UK Thermoplastic Vulcanizates Market, by Processing Method
      - Injection Molding
      - Extrusion Molding
      - Blow Molding
    - UK Thermoplastic Vulcanizates Market, by Application
      - Automotive
        
        Exteriors
        
        Interiors
      - Construction & Architecture
      - Consumer goods
      - Electric & Electronics
      - Medical & Healthcare
      - Others
    - Eastern Europe
      - Eastern Europe Thermoplastic Vulcanizates Market, by Grade
        
        Natural
        
        Standard Black
        
        Pre-Colored
        
        Others
      - Eastern Europe Thermoplastic Vulcanizates Market, by Processing Method
        
        Injection Molding
        
        Extrusion Molding
        
        Blow Molding
      - Eastern Europe Thermoplastic Vulcanizates Market, by Application
        
        Automotive
        
        Exteriors
        
        Interiors
        
        Construction & Architecture
        
        Consumer goods
        
        Electric & Electronics
        
        Medical & Healthcare
        
        Others
      - Russia
        
        Russia Thermoplastic Vulcanizates Market, by Grade
        
        Natural
        
        Standard Black
        
        Pre-Colored
        
        Others
        
        Russia Thermoplastic Vulcanizates Market, by Processing Method
        
        Injection Molding
        
        Extrusion Molding
        
        Blow Molding
        
        Russia Thermoplastic Vulcanizates Market, by Application
        
        Automotive
        
        Exteriors
        
        Interiors
        
        Construction & Architecture
        
        Consumer goods
        
        Electric & Electronics
        
        Medical & Healthcare
        
        Others
      - Poland
        
        Poland Thermoplastic Vulcanizates Market, by Grade
        
        Natural
        
        Standard Black
        
        Pre-Colored
        
        Others
        
        Poland Thermoplastic Vulcanizates Market, by Processing Method
        
        Injection Molding
        
        Extrusion Molding
        
        Blow Molding
        
        Poland Thermoplastic Vulcanizates Market, by Application
        
        Automotive
        
        Exteriors
        
        Interiors
        
        Construction & Architecture
        
        Consumer goods
        
        Electric & Electronics
        
        Medical & Healthcare
        
        Others
      - Hungary
        
        Hungary Thermoplastic Vulcanizates Market, by Grade
        
        Natural
        
        Standard Black
        
        Pre-Colored
        
        Others
        
        Hungary Thermoplastic Vulcanizates Market, by Processing Method
        
        Injection Molding
        
        Extrusion Molding
        
        Blow Molding
        
        Hungary Thermoplastic Vulcanizates Market, by Application
        
        Automotive
        
        Exteriors
        
        Interiors
        
        Construction & Architecture
        
        Consumer goods
        
        Electric & Electronics
        
        Medical & Healthcare
        
        Others
      - Czech Republic
        
        Czech Republic Thermoplastic Vulcanizates Market, by Grade
        
        Natural
        
        Standard Black
        
        Pre-Colored
        
        Others
        
        Czech Republic Thermoplastic Vulcanizates Market, by Processing Method
        
        Injection Molding
        
        Extrusion Molding
        
        Blow Molding
        
        Czech Republic Thermoplastic Vulcanizates Market, by Application
        
        Automotive
        
        Exteriors
        
        Interiors
        
        Construction & Architecture
        
        Consumer goods
        
        Electric & Electronics
        
        Medical & Healthcare
        
        Others
      - Belarus
        
        Belarus Thermoplastic Vulcanizates Market, by Grade
        
        Natural
        
        Standard Black
        
        Pre-Colored
        
        Others
        
        Belarus Thermoplastic Vulcanizates Market, by Processing Method
        
        Injection Molding
        
        Extrusion Molding
        
        Blow Molding
        
        Belarus Thermoplastic Vulcanizates Market, by Application
        
        Automotive
        
        Exteriors
        
        Interiors
        
        Construction & Architecture
        
        Consumer goods
        
        Electric & Electronics
        
        Medical & Healthcare
        
        Others
      - Bulgaria
        
        Bulgaria Thermoplastic Vulcanizates Market, by Grade
        
        Natural
        
        Standard Black
        
        Pre-Colored
        
        Others
        
        Bulgaria Thermoplastic Vulcanizates Market, by Processing Method
        
        Injection Molding
        
        Extrusion Molding
        
        Blow Molding
        
        Bulgaria Thermoplastic Vulcanizates Market, by Application
        
        Automotive
        
        Exteriors
        
        Interiors
        
        Construction & Architecture
        
        Consumer goods
        
        Electric & Electronics
        
        Medical & Healthcare
        
        Others
      - Romania
        
        Romania Thermoplastic Vulcanizates Market, by Grade
        
        Natural
        
        Standard Black
        
        Pre-Colored
        
        Others
        
        Romania Thermoplastic Vulcanizates Market, by Processing Method
        
        Injection Molding
        
        Extrusion Molding
        
        Blow Molding
        
        Romania Thermoplastic Vulcanizates Market, by Application
        
        Automotive
        
        Exteriors
        
        Interiors
        
        Construction & Architecture
        
        Consumer goods
        
        Electric & Electronics
        
        Medical & Healthcare
        
        Others
      - Slovakia
        
        Slovakia Thermoplastic Vulcanizates Market, by Grade
        
        Natural
        
        Standard Black
        
        Pre-Colored
        
        Others
        
        Slovakia Thermoplastic Vulcanizates Market, by Processing Method
        
        Injection Molding
        
        Extrusion Molding
        
        Blow Molding
        
        Slovakia Thermoplastic Vulcanizates Market, by Application
        
        Automotive
        
        Exteriors
        
        Interiors
        
        Construction & Architecture
        
        Consumer goods
        
        Electric & Electronics
        
        Medical & Healthcare
        
        Others
- Asia Pacific
  - Asia Pacific Thermoplastic Vulcanizates Market, by Grade
    - Natural
    - Standard Black
    - Pre-Colored
    - Others
  - Asia Pacific Thermoplastic Vulcanizates Market, by Processing Method
    - Injection Molding
    - Extrusion Molding
    - Blow Molding
  - Asia Pacific Thermoplastic Vulcanizates Market, by Application
    - Automotive
      - Exteriors
      - Interiors
    - Construction & Architecture
    - Consumer goods
    - Electric & Electronics
    - Medical & Healthcare
    - Others
  - China
    - China Thermoplastic Vulcanizates Market, by Grade
      - Natural
      - Standard Black
      - Pre-Colored
      - Others
    - China Thermoplastic Vulcanizates Market, by Processing Method
      - Injection Molding
      - Extrusion Molding
      - Blow Molding
    - China Thermoplastic Vulcanizates Market, by Application
      - Automotive
        
        Exteriors
        
        Interiors
      - Construction & Architecture
      - Consumer goods
      - Electric & Electronics
      - Medical & Healthcare
      - Others
  - India
    - India Thermoplastic Vulcanizates Market, by Grade
      - Natural
      - Standard Black
      - Pre-Colored
      - Others
    - India Thermoplastic Vulcanizates Market, by Processing Method
      - Injection Molding
      - Extrusion Molding
      - Blow Molding
    - India Thermoplastic Vulcanizates Market, by Application
      - Automotive
        
        Exteriors
        
        Interiors
      - Construction & Architecture
      - Consumer goods
      - Electric & Electronics
      - Medical & Healthcare
      - Others
  - Japan
    - Japan Thermoplastic Vulcanizates Market, by Grade
      - Natural
      - Standard Black
      - Pre-Colored
      - Others
    - Japan Thermoplastic Vulcanizates Market, by Processing Method
      - Injection Molding
      - Extrusion Molding
      - Blow Molding
    - Japan Thermoplastic Vulcanizates Market, by Application
      - Automotive
        
        Exteriors
        
        Interiors
      - Construction & Architecture
      - Consumer goods
      - Electric & Electronics
      - Medical & Healthcare
      - Others
  - Australia
    - Australia Thermoplastic Vulcanizates Market, by Grade
      - Natural
      - Standard Black
      - Pre-Colored
      - Others
    - Australia Thermoplastic Vulcanizates Market, by Processing Method
      - Injection Molding
      - Extrusion Molding
      - Blow Molding
    - Australia Thermoplastic Vulcanizates Market, by Application
      - Automotive
        
        Exteriors
        
        Interiors
      - Construction & Architecture
      - Consumer goods
      - Electric & Electronics
      - Medical & Healthcare
      - Others
  - South Korea
    - South Korea Thermoplastic Vulcanizates Market, by Grade
      - Natural
      - Standard Black
      - Pre-Colored
      - Others
    - South Korea Thermoplastic Vulcanizates Market, by Processing Method
      - Injection Molding
      - Extrusion Molding
      - Blow Molding
    - South Korea Thermoplastic Vulcanizates Market, by Application
      - Automotive
        
        Exteriors
        
        Interiors
      - Construction & Architecture
      - Consumer goods
      - Electric & Electronics
      - Medical & Healthcare
      - Others
- Central & South America
  - Central & South America Thermoplastic Vulcanizates Market, by Grade
    - Natural
    - Standard Black
    - Pre-Colored
    - Others
  - Central & South America Thermoplastic Vulcanizates Market, by Processing Method
    - Injection Molding
    - Extrusion Molding
    - Blow Molding
  - Central & South America Thermoplastic Vulcanizates Market, by Application
    - Automotive
      - Exteriors
      - Interiors
    - Construction & Architecture
    - Consumer goods
    - Electric & Electronics
    - Medical & Healthcare
    - Others
- Middle East & Africa
  - Middle East & Africa Thermoplastic Vulcanizates Market, by Grade
    - Natural
    - Standard Black
    - Pre-Colored
    - Others
  - Middle East & Africa Thermoplastic Vulcanizates Market, by Processing Method
    - Injection Molding
    - Extrusion Molding
    - Blow Molding
  - Middle East & Africa Thermoplastic Vulcanizates Market, by Application
    - Automotive
      - Exteriors
      - Interiors
    - Construction & Architecture
    - Consumer goods
    - Electric & Electronics
    - Medical & Healthcare
    - 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