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Thermoplastic Vulcanizate Market Forecast to 2027 - COVID-19 Impact and Global Analysis By End Use Industry

ReportLinker
·6-min read

The global thermoplastic vulcanizate (TPV) market was valued at US$ 1,646. 78 million in 2019 and is projected to reach US$ 2,612. 50 million by 2027; it is expected to grow at a CAGR of 6. 1% during 2020–2027.

New York, Jan. 22, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Thermoplastic Vulcanizate Market Forecast to 2027 - COVID-19 Impact and Global Analysis By End Use Industry" - https://www.reportlinker.com/p06010107/?utm_source=GNW


Thermoplastic vulcanizate (TPV) is a mixture of rubber particles distributed in a thermoplastic matrix.TTPV, therefore, TPV has mixed properties, including the characteristics of the vulcanized rubber elastomer as well as the handling properties of the thermoplastic material.

Typical TPV contains approximately two-thirds of ethylene propylene diene monomer and one-third of impact polypropylene.This mixture of raw materials can also differ, such as polypropylene with natural rubber, polypropylene and ethylene-octene copolymers, and others.

These materials have a wide range of hardness, excellent flex fatigue, high impact resistance, and superior resistance to acids, bases, and aqueous media.Due to its manufacturing versatility and ease of processing, TPV is used in applications requiring durability and lightweight characteristics, such as in vehicles, construction, and others.

Automotive lightweight materials have witnessed strong growths have seen robust growth over the last few years owing due to the growing demand for luxuryious, low-emission, safe, and high-performance vehicles. As a result, suppliers and manufacturers have launched a number of solutions that not only help OEMs comply with strict constantly tightening regulations but also meet the expanding range of personal customer demandstastes. TPVs are based on PP/EPDM, and the integration of nano fillers for the preparation of thermoplastic vulcanized nanocomposite (TPVN) has been produced exclusively for the automotive industry. TPVs are becoming increasingly common in a variety of commercial and industrial sectors, particularly automotive, such as automotive mechanical applications: convoluted bellows, flexible diaphragms, extruded profiles, tubing, gaskets, seals, mountings, bumpers, housings.

Based on end use industry, the thermoplastic vulcanizate (TPV) material market is segmented into automotive, building and construction, consumer goods, healthcare and others.In 2019, the automotive segment dominated the market.

Automotive lightweight materials have witnessed strong growth over the last few years due to the growing demand for luxury, low-emission, safe and high-performance vehicles.As a result, suppliers and manufacturers have launched a number of solutions that not only help OEMs comply with continuous tightening regulations but also meet the expanding range of personal customer demandstastes.

TPVs are also a reasonable alternative to expensive elastomers.They offer excellent elastomeric durability, including relatively high tensile strength and elongation at break time, high elastic recovery as well as good dimensional stability in hot air, and excellent resistance to UV aging, ozone, and weathering.

The key applications of TVP in the automotive industry include hose covers, air inlet duct covers, gaskets, seals, convoluted boots, vibration-dampers, strut covers, ignition parts, bushings, and window seals. Flexible TPV automotive under-the-hood components include air intake tubes and bellows, well flares of the wheel, bellows of the steering system, and sound abatement parts. Further, the cost of TPVs is considered 10–30% percent lower than EPDM, combined with a lower weight, enhanced versatility of design, and recyclabilityFurther, the major benefit is cost, with TPVs being 10-30 percent lower than EPDM, combined with a lower weight, enhanced versatility of design, and recyclability.

On the basis of geography, the thermoplastic vulcanizate (TPV) market is broadly segmented into North America, Europe, Asia Pacific (APAC), South America, and Middle East and Africa (MEA).North America held the largest share of the market in 2019, followed by Asia Pacific and Europe.

The companies present in the region are continuously enhancing the overall business processes to meet the customer’s demand in the best possible way.Various domestic and international companies have a strong foothold in the North American region, which boost the demand for thermoplastic vulcanizate (TPV).

The US is a major market for thermoplastic vulcanizate (TPV), followed by Canada and Mexico.The rapid industrialization and flexible trade policies are driving the growth of the thermoplastic vulcanizate (TPV) market.

Favorable federal regulations laid down by agencies such as like National Highway Traffic Safety Administration (NHTSA) and Environment Protection Agency (EPA) for the creation of lightweight and fuel efficient cars augments the growth of the market in North America. The thermoplastic vulcanizate are high performance elastomers that offers flexibility, durability, and ease of processing, which, in turn fuels the growth of the thermoplastic vulcanizate market in the region. Also, the use of thermoplastic vulcanizatesIt is used in building & construction, consumer goods, and healthcare industries boostsboost itsthe demand across North America.

The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are among the most-affected nations in terms of confirmed cases and reported deaths due to COVID-19, as of December 2020.According to the WHO data as of December, 2020, ~80,453,105 affirmed cases and 1,775,776 deaths have been reported in the world.

The COVID-19 pandemic has affected economies due to lockdowns, travel bans, and business shutdowns.The global chemicals and materials industry is one of the major businesses enduring supply chain breaks and manufacturing disruptions due to these restrictions.

China is the global hub of manufacturing and the largest raw material supplier for various industries.The lockdown of various plants and factories leading regions, such as Asia Pacific and Europe, is affecting the global supply chains and negatively impacting the manufacturing, delivery schedules, and product sales.

These factors have adversely affected the global thermoplastic vulcanizate (TPV) market growthThe USAUS, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are among the most-affected nations in terms of confirmed cases and reported deaths, as of December 2020. According to the WHO data as of December, 2020 ~80,453,105 affirmed cases and 1,775,776 deaths have been reported in the world. The pandemic has affected economies due to lockdowns, travel bans, and business shutdowns. The global chemicals and materials industry is one of the major businesses enduring supply chain breaks and manufacturing disruptions due to these restrictions. China is the global hub of manufacturing and the largest raw material supplier for various industries. The lockdown of various plants and factories leading regions, such as Asia Pacific and Europe, is affecting the global supply chains and negatively impacting the manufacturing, delivery schedules, and product sales. These factors have adversely affected the global thermoplastic vulcanizate (TPV) market growth.

Mitsui Chemicals Inc., Celanese Corporation, Mitsubishi Chemical Corporation, Kumho Polychem, Trinseo, Teknor Apex, ExxonMobil, Zeon Chemicals L.P., Alphagary and Ravago are among the major players in the global thermoplastic vulcanizate (TPV) market.

Overall size of the global thermoplastic vulcanizate (TPV) market size has been derived in accordance with both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data as well as to gain more analytical insights into the topic. The participants typically involved in the process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders, specialized in the thermoplastic vulcanizate (TPV) market.
Read the full report: https://www.reportlinker.com/p06010107/?utm_source=GNW

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