Thermoplastic vulcanizates are part of thermoplastic elastomer family of polymers. They are similar in elastometric properties to EPDM thermoset rubber. Tpv produced in the Thermoplastic Vulcanizates Market has excellent properties which can satisfy the requirements of automobile and industrial sectors. It surpasses traditional rubber in many applications.
The demand for lightweight, high performance materials from automotive industry will boost the Thermoplastic Vulcanizates Market. The tpv material displays better physical and chemical properties compared to the thermoset plastics.
Scope & Regional Forecast of the Thermoplastic Vulcanizates Market
Strong demand for the lightweight materials with good properties, especially from the automobile industry will drive the Thermoplastic Vulcanizates Market. The trend for replacing metals with lightweight materials like tpv elastomer to increase fuel efficiency in automobiles will push the market further.
Government initiatives for increasing fuel efficiency in North America and Europe will bolster the growth of the Thermoplastic Vulcanizates Market. Natural rubber substitution across the end user industries will have a positive impact on the growth of tpv rubber. Volatile raw materials along with environmental concerns and regulatory guidelines will hamper the market growth.
Tpv compound has applications in multiple end use industries like automobiles, industrial goods, electrical appliances, consumer goods, etc. The automotive segment is the largest in the Thermoplastic Vulcanizates Market.
North America dominates the Thermoplastic Vulcanizates Market due to strong demand from the automobile industry. But Asia Pacific is expected to overtake North America due to rapid industrialization in countries like India, China, and Indonesia. Rising disposable income and increasing consumer good demands in developing regions will enhance the growth of tpv thermoplastic.
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Segmentations & Key Players Involved in the Thermoplastic Vulcanizates Market
The Thermoplastic Vulcanizates Market can be broken down into various segmentations on the basis of –
- Applications- Automotive, Fluid Handling and Construction, Medical, Consumer Goods, and Others.
Some of the key players involved in the Thermoplastic Vulcanizates Market are as follows:
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