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Thermoplastic Vulcanizates Market To Set Astonishing Growth Owing To Rising Demand For High Performance And Lightweight Materials In Automotive Sector Till 2020 | Million Insights

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Thermoplastic Vulcanizates Market To Set Astonishing Growth Owing To Rising Demand For High Performance And Lightweight Materials In Automotive Sector Till 2020 | Million Insights

August 23
05:08 2019
Thermoplastic Vulcanizates Market To Set Astonishing Growth Owing To Rising Demand For High Performance And Lightweight Materials In Automotive Sector Till 2020 | Million Insights

Million Insights – World’s Fastest Growing Market Research Database
According to new report available with Million Insights, the ### industry is estimated to grow at a CAGR CAGR of over 7% during the forecast period as the scope and its applications are rising enormously across the globe.

Global Thermoplastic Vulcanizates (TPV) Market is expected to reach USD 1.87 billion by 2020. The increasing demand for high performance and lightweight materials in the automotive sector is likely to have a positive impact on the growth of the product market. The change in preferences from metals to lightweight materials for improving fuel efficiency is expected to boost the market.

TPV possess elastomeric characteristics similar to EPDM thermoset rubber, merging the vulcanized rubber properties with processing attributes of thermoplastics. The product has its applications in the automotive, electrical, household appliances, healthcare and construction industries owing to attributes such as long-term aging durability, recyclable, and design flexibility.

Full Research Report On Global Thermoplastic Vulcanizates (TPV) Market Analysis available at: https://www.millioninsights.com/industry-reports/thermoplastic-vulcanizates-tpv-market

The government regulations regarding improvement in fuel efficiency have resulted in the increased use of high performance engineering plastics such as TPV, thereby aiding the product demand especially in the Europe and North America regions. The depletion of hydrocarbon reserves together with high dependability on fossil fuels is slated to bolster the automotive fuel efficiency resulting in positive impact on the TPV demand.

The application of the product as natural rubber substitute across numerous end-use industries is likely to propel the market growth. The fluctuating price of major feedstock is anticipated to restrain the TPV market growth. The R&D activities regarding the development of the product and its applications are expected to open new avenues for the industry players.

Application Insights

TPV applications can be broadly classified as automobiles, electrical appliances, medical & healthcare, consumer goods, coated fabrics, industrial goods, and construction.

The automobile sector contributes to over 59.8% of global TPV consumption in 2013. The product is the best alternative for replacing conventional materials owing to its superior properties over the conventional including high strength, flexibility, low weight, and abrasion resistance.

The demand for TPV is likely to witness the highest growth at a CAGR of over 7% during the analysis period, on account of the rising awareness regarding the use phthalate-free medical equipment and devices.

Regional Insights

North America contributed to over 34% of the total demand in 2013 dominating the market. The market is distinguished by various government schemes such as Corporate Average Fuel Economy (CAFE) program which enables the automotive manufacturers to reduce the weight of the automobiles resulting in increased fuel efficiency. This regional trend is likely to propel the product demand.

The Asia Pacific region is anticipated to become the leading region in the TPV market on account of the speedy industrialization in developing economies including Indonesia, India, and China. The increasing demand for consumer goods coupled with the rising disposable income in the emerging economies has been instrumental in boosting the market growth in the region.

The Latin America and Asia Pacific markets offer new opportunities for the market players in the automotive industry. The regulatory framework in the developed economies regarding reduction in fossil fuel consumption together with increasing fuel efficiency in the automotive sector is likely to propel the growth in regional markets including North America, and Europe. The consumption of TPV in healthcare & medical sector in the developed sector is expected to bolster the product demand on account of the aging population.

Competitive Insights

The major companies in the market include Arkema Inc, Kraton Polymers, DuPoint Performance Elastomers, Dexco Polymers, Exxon Mobil, Solvay Engineered Polymers, and The Dow Chemical Company. The key participants operating globally are continuously involved in new product development and R&D for providing customized requirements in the end-use application industries.

The developed markets provide robust growth on account of the wide range of end-use applications. In addition, the growth in developing economies is slated to witness a rise in the application of the product. These untapped markets in the emerging economies are likely to be captured over the forecast period by the major companies in the industry.

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Market Segment:

Global Thermoplastic Vulcanizates (TPV) Application Outlook (Volume, Kilo Tons, Revenue, USD Million, 2012 – 2020)
       • Automotive
       • Fluid Handling
       • Consumer Goods
       • Medical

Global Thermoplastic Vulcanizates (TPV) Regional Outlook (Volume, Kilo Tons, Revenue, USD Million, 2012 – 2020)
       • North America
              • U.S.
       • Europe
              • UK
              • Germany
       • Asia Pacific
              • Japan
              • China
       • Central & South America
       • Middle East & Africa

Related Reports of This Category Available at Million Insights: https://www.millioninsights.com/industry/chemicals

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