Reports And Data

Thermoplastic Vulcanizates Market – USD 4.82 Bn in 2022, CAGR of 7%, Growing Demand for high-performance materials in automotive & construction applications

NEW YORK, NY, UNITED STATES, March 27, 2023 /EINPresswire.com/ -- The desire for eco-friendly goods, rising demand for high-performance materials in the construction and automotive industries, and growing demand for lightweight materials across industries are the main drivers propelling market revenue growth.

The global Thermoplastic Vulcanizates (TPV) market size was USD 4.82 Billion in 2022 and is expected to register a revenue CAGR of 7% over the forecast period, according to the latest report by Reports and Data.

High-performance elastomers called TPVs offer outstanding flexibility, processing simplicity, durability, and resistance to heat, fluids, and chemicals. Because to their characteristics, they might be utilised to produce lightweight vehicle components such car doors, weather seals, and engine-related components. Because to its attributes including light weight and robustness, TPVs are increasingly employed in the consumer goods, construction, and automotive sectors. TPVs function better than more traditional materials like rubber, thermosets, and polyvinyl chloride while being more reasonably priced (PVC).

Moreover, increased demand for eco-friendly items is another factor driving market revenue growth. Because of their low carbon footprint and recycling possibilities, TPVs are recognised as ecologically friendly materials. As people become increasingly concerned about the environment, the use of environmentally friendly materials such as TPVs is likely to rise.

Additionally, rising demand for high-performance materials in automotive and construction applications is driving market revenue growth. Because of their remarkable resistance to heat, cold, and weathering, TPVs are commonly used in the automobile industry for exterior and interior trim, weather seals, and gaskets. Because of their lifespan and weather resilience, TPVs are widely used in the construction sector for insulation, window seals, and roofing membranes.

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Some of the prominent players profiled in the global thermoplastic vulcanizates (TPV) market include ExxonMobil Chemical Company, Mitsui Chemicals, Inc., Kraiburg TPE, DuPont de Nemours, Inc., Teknor Apex Company, RTP Company, Zeon Corporation, Sumitomo Chemical Co., Ltd., LCY Group, and KUMHO Petrochemical.

Some Key Highlights from the Report

• Throughout the projected period, the healthcare segment is predicted to develop at a much faster rate in the worldwide TPV market. Because of their exceptional biocompatibility, sterilising capacity, and resistance to chemicals and heat, TPVs are increasingly being used in the healthcare business. TPVs are used to make a variety of medical equipment, including tubing, stoppers, syringe tips, and blood bags.

• The Asia Pacific market is estimated to account for the highest revenue share in the worldwide TPV market during the forecast period. This is owing to rapid urbanisation and industrialisation, as well as increased demand for TPV in the construction and automotive industries.

• Some of the prominent players profiled in the global thermoplastic vulcanizates (TPV) market include ExxonMobil Chemical Company, Mitsui Chemicals, Inc., Kraiburg TPE, DuPont de Nemours, Inc., Teknor Apex Company, RTP Company, Zeon Corporation, Sumitomo Chemical Co., Ltd., LCY Group, and KUMHO Petrochemical.

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For the purpose of this report, Reports and Data has segmented the global thermoplastic vulcanizates (TPV) market on the basis of Application Outlook and Regional Outlook:

Application Outlook (Revenue, USD Billion; 2022 - 2032)

Automotive
Healthcare
Construction
Consumer Goods
Others

Regional Outlook (Revenue, USD Billion; 2022-2032)

North America
Europe
Asia-Pacific
Latin America
Middle East & Africa

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Key Advantages of Thermoplastic Vulcanizates (TPV) Report:

• Identification and analysis of the market size and competition
• Qualitative and quantitative analysis of the market data
• Data validated by industry experts after extensive primary and secondary research
• Extensive regional analysis of the Thermoplastic Vulcanizates (TPV) industry
• Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
• SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
• Feasibility analysis and investment analysis to enable strategic investment decisions
• Analysis of opportunities, drivers, restraints, challenges, risks, and limitations

Conclusively, all aspects of the Thermoplastic Vulcanizates (TPV) market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

Nikhil Morankar
Reports and Data
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