Thermoplastic Vulcanizates (TPV) Market 2015-2019
Market outlook of the thermoplastic vulcanizates market
Technavio's market research analyst predicts the thermoplastic vulcanizates (TPV) market to grow at a rate of around 7% during the forecast period. The rising adoption of TPV as a replacement for PVC in the healthcare sector is the primary driver for the growth of this market. TPV's unique characteristics such as environment-friendliness, low drug absorption, toughness, and optical clarity have made them an ideal choice for the manufacturing of blood bags, catheters and disposable gloves. For instance, Johnson & Johnson and GE Healthcare, having increased their R&D spending to develop and introduce new TPV-based medical products in the market.
The growing popularity of olefin-based copolymer TPV is also anticipated to contribute to the market growth during the forecast period. Olefin-based copolymer TPV has a high abrasion resistance and is being used to replace traditional styrenic thermoplastic elastomers (TPE) in its commercial and industrial applications.
Segmentation by application and analysis of - automotive, medical, consumer goods, fluid handling
During 2014, the automotive sector led the market with a share of 51%. The rising adoption of TPV as a replacement for traditional rubber and EPDM in this sector is the primary driver for the growth of this segment. TPV is used in interior and exterior ancillaries, sealing systems, and under-the-hood components of automobiles.
The report offers an analysis of each of the following segments and discusses its impact on the overall market growth -
- Fluid handling and construction
- Consumer goods
Geographical segmentation and analysis of - Americas, APAC, EMEA
The Americas accounted for around 41% of the market share during 2014. The report predicts this region to maintain its leadership until the end of 2019, growing at a rate of 7%. The increasing replacement of traditional heavy materials, such as natural and synthetic rubber, by lighter TPV, is driving the market in this region.
The report offers an analysis of each of the following segments and discusses its impact on the overall market growth -Competitive landscape and key vendors - Dynasol, DuPont, ExxonMobil, PolyOne, LCY
The global TPV market is highly fragmented with the five key players accounting for around 40% of the market in terms of capacity. Vendors in this market compete on the basis of innovation, quality and performance, price, and brand image.
The top vendors in the market are
Other providers in the market include A. Schulman, Alliance Polymer and Services, Asahi Kasei, API, BASF, Entec Polymers, JSR, Kumho Polychem, LG Chem, Lubrizol, LyondellBasell, Mitsubishi Chemical, Sichuan Sunplas, Teknor Apex, Vi-Chem, and Zeon.Key questions answered in the report include
- What will the market size and the growth rate be in 2019?
- What are the key factors driving the thermoplastic vulcanizates market?
- What are the key market trends impacting the growth of the thermoplastic vulcanizates market?
- What are the challenges to market growth?
- Who are the key vendors in the TPV market?
- What are the market opportunities and threats faced by the vendors in the TPV market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the TPV market?
Technavio also offers customization on reports based on specific client requirement.
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