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

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.
Thermoplastic Vulcanizate Market
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.

Thermoplastic Vulcanizate Market


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 coveredBy Processing Method, By Application
 Regions coveredNorth America, Asia-Pacific, Latin America, Middle East & Africa and Europe
 Companies CoveredAvient 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:
  • Extrusion
  • Injection Molding
  • By Application:
  • Automotive
  • Consumer Goods
  • Fluid Handling
  • Footwear
  • Medical
  • 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 report
    1.2. Market segment analysis

    2. Research Methodology
    2.1. Research data source
    2.1.1. Secondary Data
    2.1.2. Primary Data
    2.1.3. SPER’s internal database
    2.1.4. Premium insight from KOL’s
    2.2. Market size estimation
    2.2.1. Top-down and Bottom-up approach
    2.3. Data triangulation

    3. Executive Summary

    4. Market Dynamics
    4.1. Driver, Restraint, Opportunity and Challenges analysis
    4.1.1. Drivers
    4.1.2. Restraints
    4.1.3. Opportunities
    4.1.4. Challenges
    4.2. COVID-19 Impacts of the Global Thermoplastic Vulcanizate Market

    5. Market variable and outlook
    5.1. SWOT Analysis
    5.1.1. Strengths
    5.1.2. Weaknesses
    5.1.3. Opportunities
    5.1.4. Threats
    5.2. PESTEL Analysis
    5.2.1. Political Landscape
    5.2.2. Economic Landscape
    5.2.3. Social Landscape
    5.2.4. Technological Landscape
    5.2.5. Environmental Landscape
    5.2.6. Legal Landscape
    5.3. PORTER’s Five Forces 
    5.3.1. Bargaining power of suppliers
    5.3.2. Bargaining power of buyers
    5.3.3. Threat of Substitute
    5.3.4. Threat of new entrant
    5.3.5. Competitive rivalry
    5.4. Heat Map Analysis

    6. Competitive Landscape
    6.1. Global Thermoplastic Vulcanizate Market Manufacturing Base Distribution, Sales Area, Product Type 
    6.2. 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, 2023-2033 
    7.2. Extrusion
    7.3. Injection Molding

    8. Global Thermoplastic Vulcanizate Market, By Application (USD Million)
    8.1. Global Thermoplastic Vulcanizate Market Value Share and Forecast, By Application, 2023-2033 
    8.2. Automotive
    8.3. Consumer Goods
    8.4. Fluid Handling
    8.5. Footwear
    8.6. 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-Pacific
    12.3.1. Australia
    12.3.2. China
    12.3.3. India
    12.3.4. Japan
    12.3.5. South Korea
    12.3.6. Rest of Asia-Pacific
    12.4. Europe
    12.4.1. France
    12.4.2. Germany
    12.4.3. Italy
    12.4.4. Spain
    12.4.5. United Kingdom
    12.4.6. Rest of Europe
    12.5. Middle East and Africa
    12.5.1. Kingdom of Saudi Arabia 
    12.5.2. United Arab Emirates
    12.5.3. Rest of Middle East & Africa
    12.6. North America
    12.6.1. Canada
    12.6.2. Mexico
    12.6.3. United States
    12.7. Latin America
    12.7.1. Argentina
    12.7.2. Brazil
    12.7.3. Rest of Latin America 

    13. Company Profile
    13.1. Avient Corporation
    13.1.1. Company details
    13.1.2. Financial outlook
    13.1.3. Product summary 
    13.1.4. Recent developments
    13.2. Celanese Corporation
    13.2.1. Company details
    13.2.2. Financial outlook
    13.2.3. Product summary 
    13.2.4. Recent developments
    13.3. DuPont de Nemours, Inc.
    13.3.1. Company details
    13.3.2. Financial outlook
    13.3.3. Product summary 
    13.3.4. Recent developments
    13.4. HEXPOL AB
    13.4.1. Company details
    13.4.2. Financial outlook
    13.4.3. Product summary 
    13.4.4. Recent developments
    13.5. Lotte Chemical Corporation
    13.5.1. Company details
    13.5.2. Financial outlook
    13.5.3. Product summary 
    13.5.4. Recent developments
    13.6. LyondellBasell Industries Holdings B.V.
    13.6.1. Company details
    13.6.2. Financial outlook
    13.6.3. Product summary 
    13.6.4. Recent developments
    13.7. Mitsui Chemicals, Inc
    13.7.1. Company details
    13.7.2. Financial outlook
    13.7.3. Product summary 
    13.7.4. Recent developments
    13.8. RTP Company
    13.8.1. Company details
    13.8.2. Financial outlook
    13.8.3. Product summary 
    13.8.4. Recent developments
    13.9. Trinseo Plc
    13.9.1. Company details
    13.9.2. Financial outlook
    13.9.3. Product summary 
    13.9.4. Recent developments
    13.10. 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.

    SPER-Methodology-1

    SPER-Methodology-2

    SPER-Methodology-3


    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.
    "You can get the sample pages by clicking the link -Click Here"
    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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