Thermoplastic Vulcanizate Market Growth, Size, Trends, Demand, Revenue and Future Outlook
Thermoplastic Vulcanizate Market Size- By Processing Method, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Nov-2023 | Report ID: CHEM2398 | Pages: 1 - 224 | Formats*: |
| Category : Chemical & Materials | |||
Thermoplastic Vulcanizate Market Introduction and Overview
According to SPER Market Research, the Global Thermoplastic Vulcanizate Market is estimated to reach USD 5.23 billion by 2033 with a CAGR of 6.71%.
The report includes an in-depth analysis of the Global Thermoplastic Vulcanizate Market, including market size and trends, product mix, Applications, and supplier analysis. The term thermoplastic vulcanizates (TPVs) describes polymer blends made of micron-sized rubber particles that have been finely disseminated inside a thermoplastic matrix. They are created by heating thermoplastic material to precisely the right temperature and then cross-linking melted rubber. TPVs display characteristics of both thermoplastic materials and vulcanised rubber elastomers. They are less expensive to process, lightweight, strong, and resistant to heat, chemicals, and liquids as compared to other polymers. Consequently, TPVs find extensive application in the production of consumer goods, electrical, medical, sports, and personal care items, as well as industrial and automotive components.
- August 2022: Celanese Corporation and the polymer distributor Ravago reached an agreement for Celanese to distribute the Santoprene and Geoplast TPV product line in the United States, Canada, and Mexico.
- July 2022: Recycled polyolefin is the main ingredient in milastomer, an environmentally friendly thermoplastic vulcanizate (TPV) manufactured by Mitsui Chemicals. These days, it's found in everyday goods, building and construction, and automotive uses.
Market Opportunities and Challenges
Opportunities: The growing need for lightweight, eco-friendly solutions that provide excellent durability and better safety is likely to fuel the growth of the thermoplastic vulcanizate (TPV) market over the research period. The strict rules pertaining to PVC use in the automobile industry have led to a growing use of thermoplastic vulcanizates (TPV) as an alternative to PVC plastic. This is projected to drive up market demand for TPV in the upcoming years. The demand for thermoplastic vulcanizates (TPV) is also anticipated to rise throughout the forecast period due to a significant shift away from metals and towards lightweight materials like TPV. This is because TPV can enhance fuel efficiency in cars.
Challenges: One significant factor impeding the global market for thermoplastic vulcanizates (TPV) is the high cost of raw materials, especially those related to EPDM. The expense of acquiring raw materials based on EPDM, which are utilised in the production of TPV, might have a big impact on producers' profitability. Furthermore, market participants may face difficulties in maintaining steady pricing and profits due to price volatility in raw materials. The adoption of TPVs may be constrained by the high cost of raw materials, particularly in markets where consumers are price-sensitive. This could also impede the market's overall growth.
Market Competitive Landscape
The global market for thermoplastic vulcanizates (TPV) is characterised by a wide array of suppliers and manufacturers vying for market share. To strengthen their position in the market, industry participants concentrate on R&D, strategic alliances, and innovative product creation. Their goal is to provide TPVs that are more environmentally sustainable, long-lasting, and perform better. In order to meet the increasing demand for TPVs across a range of industries, businesses also place a strong emphasis on building their distribution networks and fostering stronger customer relationships. The competitive environment is shaped by the quest for technological breakthroughs and satisfying client demands for TPV solutions that are high-quality, lightweight, and adaptable. The major players in the market include: Avient Corporation, Celanese Corporation, DuPont de Nemours, Inc., HEXPOL AB, Lotte Chemical Corporation, LyondellBasell Industries Holdings B.V., Mitsubishi Chemical Corporation, Mitsui Chemicals, Inc., RTP Company, Trinseo Plc, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Processing Method, By Application |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| Companies Covered | Avient Corporation, Celanese Corporation, DuPont de Nemours, Inc., HEXPOL AB, Lotte Chemical Corporation, LyondellBasell Industries Holdings B.V., Mitsubishi Chemical Corporation, Mitsui Chemicals, Inc., RTP Company, Trinseo Plc, Others |
COVID-19 Impact on Global Thermoplastic Vulcanizate Market
The market for thermoplastic vulcanizate was affected by the COVID-19 epidemic, which led to a decrease in demand from a number of industries and a drop in supply because of transportation limitations. However, in 2022, the market recovered as a result of higher demand from the building, construction, and automotive sectors. On the other hand, the coronavirus outbreak has severely disrupted the automotive industry's value chain and impacted car production. In order to stop the coronavirus from spreading, manufacturing operations—aside from those producing necessities—are suspended in a number of nations. Throughout the projection period, this is anticipated to have an effect on the demand for plastics in automotive applications.
Key Target Audience:
- Aerospace Industry
- Automotive Industry
- Construction Industry
- Consumer Goods Manufacturers
- Electronics and Electrical Appliance Manufacturers
- Environmental Agencies
- Industrial Equipment Manufacturers
- Material Distributors and Resellers
- Medical Device Manufacturers
- Packaging Industry
- Research and Development Organizations
- Others
Our in-depth analysis of the Thermoplastic Vulcanizate Market includes the following segments:
| By Processing Method: |
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| By Application: |
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Key Topics Covered in the Report:
- Global Thermoplastic Vulcanizate Market Size (FY’2023-FY’2033)
- Overview of Global Thermoplastic Vulcanizate Market
- Segmentation of Global Thermoplastic Vulcanizate Market By Processing Method (Extrusion, Injection Molding)
- Segmentation of Global Thermoplastic Vulcanizate Market By Application (Automotive, Consumer Goods, Fluid Handling, Footwear, Medical)
- Statistical Snap of Global Thermoplastic Vulcanizate Market
- Expansion Analysis of Global Thermoplastic Vulcanizate Market
- Problems and Obstacles in Global Thermoplastic Vulcanizate Market
- Competitive Landscape in the Global Thermoplastic Vulcanizate Market
- Impact of COVID-19 and Demonetization on Global Thermoplastic Vulcanizate Market
- Details on Current Investment in Global Thermoplastic Vulcanizate Market
- Competitive Analysis of Global Thermoplastic Vulcanizate Market
- Prominent Players in the Global Thermoplastic Vulcanizate Market
- SWOT Analysis of Global Thermoplastic Vulcanizate Market
- Global Thermoplastic Vulcanizate Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Global Thermoplastic Vulcanizate Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Thermoplastic Vulcanizate Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Thermoplastic Vulcanizate Market
7. Global Thermoplastic Vulcanizate Market, By Processing Method (USD Million)
7.1. Global Thermoplastic Vulcanizate Market Value Share and Forecast, By Processing Method, 2023-20337.2. Extrusion7.3. Injection Molding
8. Global Thermoplastic Vulcanizate Market, By Application (USD Million)
8.1. Global Thermoplastic Vulcanizate Market Value Share and Forecast, By Application, 2023-20338.2. Automotive8.3. Consumer Goods8.4. Fluid Handling8.5. Footwear8.6. Medical
9. Global Thermoplastic Vulcanizate Market Forecast, 2019-2033 (USD Million)
9.1. Global Thermoplastic Vulcanizate Market Size and Market Share
10. Global Thermoplastic Vulcanizate Market, By Processing Method, 2019-2033 (USD Million)
10.1. Global Thermoplastic Vulcanizate Market Size and Market Share By Processing Method (2019-2026)10.2. Global Thermoplastic Vulcanizate Market Size and Market Share By Processing Method (2027-2033)
11. Global Thermoplastic Vulcanizate Market, By Application, 2019-2033 (USD Million)
11.1. Global Thermoplastic Vulcanizate Market Size and Market Share By Application (2019-2026)11.2. Global Thermoplastic Vulcanizate Market Size and Market Share By Application (2027-2033)
12. Global Thermoplastic Vulcanizate Market, By Region, 2019-2033 (USD Million)
12.1. Global Thermoplastic Vulcanizate Market Size and Market Share By Region (2019-2026)12.2. Global Thermoplastic Vulcanizate Market Size and Market Share By Region (2027-2033)12.3. Asia-Pacific12.3.1. Australia12.3.2. China12.3.3. India12.3.4. Japan12.3.5. South Korea12.3.6. Rest of Asia-Pacific12.4. Europe12.4.1. France12.4.2. Germany12.4.3. Italy12.4.4. Spain12.4.5. United Kingdom12.4.6. Rest of Europe12.5. Middle East and Africa12.5.1. Kingdom of Saudi Arabia12.5.2. United Arab Emirates12.5.3. Rest of Middle East & Africa12.6. North America12.6.1. Canada12.6.2. Mexico12.6.3. United States12.7. Latin America12.7.1. Argentina12.7.2. Brazil12.7.3. Rest of Latin America
13. Company Profile
13.1. Avient Corporation13.1.1. Company details13.1.2. Financial outlook13.1.3. Product summary13.1.4. Recent developments13.2. Celanese Corporation13.2.1. Company details13.2.2. Financial outlook13.2.3. Product summary13.2.4. Recent developments13.3. DuPont de Nemours, Inc.13.3.1. Company details13.3.2. Financial outlook13.3.3. Product summary13.3.4. Recent developments13.4. HEXPOL AB13.4.1. Company details13.4.2. Financial outlook13.4.3. Product summary13.4.4. Recent developments13.5. Lotte Chemical Corporation13.5.1. Company details13.5.2. Financial outlook13.5.3. Product summary13.5.4. Recent developments13.6. LyondellBasell Industries Holdings B.V.13.6.1. Company details13.6.2. Financial outlook13.6.3. Product summary13.6.4. Recent developments13.7. Mitsui Chemicals, Inc13.7.1. Company details13.7.2. Financial outlook13.7.3. Product summary13.7.4. Recent developments13.8. RTP Company13.8.1. Company details13.8.2. Financial outlook13.8.3. Product summary13.8.4. Recent developments13.9. Trinseo Plc13.9.1. Company details13.9.2. Financial outlook13.9.3. Product summary13.9.4. Recent developments13.10. Others
14. List of Abbreviations
15. Reference Links
16. Conclusion
17. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Thermoplastic Vulcanizate Market is projected to reach USD 5.23 billion by 2033, growing at a CAGR of 6.71% during the forecast period.
Thermoplastic Vulcanizate Market grew in market size from 2023. The Market is expected to reach USD 5.23 billion by 2033, at a CAGR of 6.71% during the forecast period.
Thermoplastic Vulcanizate Market CAGR of 6.71% during the forecast period.
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Thermoplastic Vulcanizate Market size is USD 5.23 billion from 2023 to 2033.
Thermoplastic Vulcanizate Market Segment is Covered By Processing Method, By Application
The North America region is anticipated to have the highest market share in Thermoplastic Vulcanizate Market.
The key players in the market include Companies Covered Avient Corporation, Celanese Corporation, DuPont de Nemours, Inc., HEXPOL AB, Lotte Chemical Corporation, LyondellBasell Industries Holdings B.V., Mitsubishi Chemical Corporation, Mitsui Chemicals, Inc., RTP Company, Trinseo Plc, Others
The term thermoplastic vulcanizates (TPVs) describes polymer blends made of micron-sized rubber particles that have been finely disseminated inside a thermoplastic matrix.
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