Thermoplastic Vulcanizates (TPV) Market Scope
Thermoplastic Vulcanizates (TPVs) are a type of thermoplastic elastomer (TPE) that combine the properties of vulcanized rubber with the processing ease of thermoplastics. TPVs are composed of a blend of a thermoplastic matrix, usually a polypropylene (PP) or ethylene propylene diene monomer (EPDM), and a vulcanized elastomer, usually a diene rubber such as ethylene-propylene-diene-monomer (EPDM) or nitrile-butadiene rubber (NBR). During processing, the thermoplastic matrix is melted and the vulcanized elastomer is dispersed within it, forming a thermoplastic elastomer with excellent elasticity, flexibility, and resilience. TPVs can be processed using conventional thermoplastic processing techniques, such as injection molding, extrusion, and blow molding. TPVs have a wide range of applications due to their unique combination of properties, including high tensile strength, good chemical resistance, and excellent weather ability.
|Unit||Value (USD Million)|
|Key Companies Profiled||Avient Corporation (United States), Mitsubishi Chemical Corporation (Japan), JSR America, Inc.(United States), ZEON CORPORATION (Japan), Exxon Mobil Corporation. (United States), DuPont (United States), Teknor Apex (United States), KRAIBURG TPE GmbH & Co. KG (Germany), RTP Company (United States) and LCY GROUP (Taiwan)|
Competition among existing players is due to the stiff market share occupied by leading players. The industry leader is engaged in offering innovative and superior-quality products to cater to the ever-growing demand for Thermoplastic Vulcanizates. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Thermoplastic Vulcanizates (TPV) market throughout the predicted period.
Avient Corporation (United States), Mitsubishi Chemical Corporation (Japan), JSR America, Inc.(United States), ZEON CORPORATION (Japan), Exxon Mobil Corporation. (United States), DuPont (United States), Teknor Apex (United States), KRAIBURG TPE GmbH & Co. KG (Germany), RTP Company (United States) and LCY GROUP (Taiwan) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are GLS Thermoplastic Elastomers (United States).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global Thermoplastic Vulcanizates (TPV) market by Type , by Application (Automotive parts, Construction seals, Wire and cable insulation, Consumer goods, Medical devices and Others) and Region with country level break-up.
On the basis of geography, the market of Thermoplastic Vulcanizates (TPV) has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2022.
Market Leaders and their expansionary development strategiesIn June 2021, Celanese Corporation, a global chemical and specialty materials company, announced the signing of a definitive agreement to acquire the Santoprene TPV elastomers business of Exxon Mobil Corporation.
In July 2019, ExxonMobil Corporation, a market leader in thermoplastic vulcanizates, established its 90,000-tonne-per-year resins facility and a 140,000-tonne-per-year butyl plant in Singapore.
Influencing Trend:Growing adoption of over-molding technology in the manufacturing of TPV-based products for enhanced functionality and aesthetics.
Market Growth Drivers:Growing demand for TPVs in the construction industry due to their high resistance to weathering and UV radiation
Challenges:High production costs of TPVs compared to other thermoplastic materials
Restraints:Fluctuations in the global economy may impact demand for TPVs.
Opportunities:Increasing adoption of TPVs in the packaging industry due to their ability to improve seal integrity and reduce packaging waste
Key Target AudienceThermoplastic Vulcanizates Manufacturers Suppliers and Distributors, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations and End-Use Industries