About Thermoplastic Vulcanizates
Thermoplastic vulcanizates (TPVs) are a diverse class of thermoplastic elastomers (TPEs), which have a high content of cross-linked rubber and low content of thermoplastics. TPVs possess the combined properties of high elasticity and high processability and recyclability, thus outperforming conventional rubber. They have been known among green polymers for the past few years and are extensively used in various industries, such as automotive, electronics, construction, medical, and office and sports equipment. The mechanical and thermal properties of TPVs are diverse and are better than other thermoplastics.
Technavio’s analysts forecast the global thermoplastic vulcanizates market to grow at a CAGR of 6.31% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global thermoplastic vulcanizates market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of thermoplastic vulcanizates.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Thermoplastic Vulcanizates Market 2017-2021
Technavio recognizes the following companies as the key players in the global thermoplastic vulcanizates market: BASF, DuPont, Exxon Mobil, LCY GROUP, and PolyOne.
Other Prominent Vendors in the market are: Arkema, A. Schulman, Asahi Kasei, Dow Corning, Entec Polymers, JSR, LANXESS, The Lubrizol, LyondellBasell Industries Holdings, Sichuan Sunplas, and Teknor Apex.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Introduction of advanced TPVs by focusing on R&D. The increased competition observed within the TPV market, along with intense rivalry with other TPE markets, demands for innovative product launches. This has promptly led key players in the market to increase their focus and spending on R&D and other technological advances, resulting in the development of advanced TPVs. They perform better than regular TPVs in terms of functionality, cost efficiency, and sustainability. The innovation of advanced TPVs will help key players to differentiate their products in terms of performance when compared with regular TPVs.”
According to the report, one of the major drivers for this market is Increased adoption in automotive industry. The global TPV market is mainly driven by the automotive industry, and it has the highest consumption share of the material in industrial applications. In the automotive industry, TPV is used to manufacture automotive exterior parts, such as mud guards, weather seals, glass run channel, door trim skin, side molding, roof molding, and roof antenna cover. In addition, TPVs are used in manufacturing automotive interior parts, such as interior skins, door trim, instrumental panel, airbag cover, and dashboard covers. The growing consumption of TPV in the motor vehicle sector for production of these parts, owing to lightweight and high oil, chemical, and heat resistance is the major driver of the global TPV market.
Further, the report states that one of the major factors hindering the growth of this market is Fluctuating raw material prices. Consistent price fluctuations of raw materials used in the manufacture of TPV poses a major challenge to manufacturers. Olefins, ethylene, and propylene are the major raw materials used to produce TPE, which are manufactured from ethane, naphtha, and propane. The prices of these petrochemicals are dependent on the price of natural gas and crude oil. There has always been an increased volatility in the price of crude oil in the overseas market, owing to the supply demand imbalances and the volatile political situation in the Middle East that has the major share of the world oil supply. This has resulted in a significant increase in the prices of these major petrochemicals.
BASF, DuPont, Exxon Mobil, LCY GROUP, PolyOne, Arkema, A. Schulman, Asahi Kasei, Dow Corning, Entec Polymers, JSR, LANXESS, The Lubrizol, LyondellBasell Industries Holdings, Sichuan Sunplas, and Teknor Apex.
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