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The global thermoplastic vulcanizates market grew at a CAGR of around 4% during 2015-2020. Looking forward, IMARC Group expects the market to exhibit moderate growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor.
Thermoplastic vulcanizates (TPVs) refer to polymer blends consisting of finely dispersed micron-sized rubber particles in a thermoplastic matrix. They are produced by cross-linking melted rubber with thermoplastic material in controlled temperatures. TPVs exhibit properties of vulcanized rubber elastomers and thermoplastic materials. In comparison to other polymers, they are lightweight, durable, resistant to heat, chemicals and fluids and have minimal processing costs. As a result, TPVs are widely used in the manufacturing of industrial and automobile components, consumer goods and electrical, medical, sports and personal care products.
Global Thermoplastic Vulcanizates (TPV) Industry Trends:
The growing automotive industry across the globe represents one of the key factors creating a positive outlook for the market. TPVs are widely used to produce lightweight automotive parts, such as car doors, bumpers, battery frames, weather seals and under-the-hood components. Furthermore, the increasing demand for durable consumer products is also driving the market growth. In line with this, the growing demand for TPVs as an alternative for polyvinyl chloride (PVC) in the healthcare industry is also contributing to the growth of the market. They offer enhanced optical clarity and toughness and are used in the manufacturing of catheters, blood bags and disposable gloves. Additionally, various product innovations, such as the launch of bio-based TPVs, are acting as other growth-inducing factors. These novel and bio-degradable variants are derived from renewable resources, such as starch-, cellulose and sot-based polymers, polylactides (PLAs) and polyhydroxyalkanoates (PHAs). Other factors, including rapid industrialization, along with the implementation of favorable government policies promoting the use of TPVs for sustainable development, are anticipated to drive the market further.
IMARC Group provides an analysis of the key trends in each sub-segment of the global thermoplastic vulcanizates market report, along with forecasts for growth at the global, regional, and country-level from 2021-2026. Our report has categorized the market based on region, product type, and application.
Breakup By Product Type:
Breakup by Application:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Arkema S.A., Asahi Kasei Corporation, BASF SE, China Petroleum & Chemical Corporation, DuPont de Nemours Inc., Exxon Mobil Corporation, JSR Corporation, LyondellBasell Industries N.V., Mitsubishi Chemical Corporation, Mitsui Chemicals Inc. and Tosoh Corporation.
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