Global "Thermoplastic
Vulcanizates (TPV) Market" 2020 Industry
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Development, futuristic cost, earnings, demand and distribution data. Its vast
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In this report, we
thoroughly examine and analyse the Global market for Thermoplastic Vulcanizates
(TPV) so that market participants can improve their business strategy and
ensure long-term success. This report provides players with useful information
and suggests result-based ideas to give them a competitive advantage in the
global Thermoplastic Vulcanizates (TPV) industry. It will show how other
players compete in the global Thermoplastic Vulcanizates (TPV) Market and
explain the strategies you use to differentiate yourself from other
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Industry Insights
Global Thermoplastic
Vulcanizates (TPV) Market is expected to reach USD 1.87 billion by 2020. The
increasing demand for high performance and lightweight materials in the
automotive sector is likely to have a positive impact on the growth of the
product market. The change in preferences from metals to lightweight materials
for improving fuel efficiency is expected to boost the market.
TPV possess elastomeric
characteristics similar to EPDM thermoset rubber, merging the vulcanized rubber
properties with processing attributes of thermoplastics. The product has its
applications in the automotive, electrical, household appliances, healthcare
and construction industries owing to attributes such as long-term aging
durability, recyclable, and design flexibility.
The government regulations
regarding improvement in fuel efficiency have resulted in the increased use of
high performance engineering plastics such as TPV, thereby aiding the product
demand especially in the Europe and North America regions. The depletion of
hydrocarbon reserves together with high dependability on fossil fuels is slated
to bolster the automotive fuel efficiency resulting in positive impact on the
TPV demand.
The application of the
product as natural rubber substitute across numerous end-use industries is
likely to propel the market growth. The fluctuating price of major feedstock is
anticipated to restrain the TPV market growth. The R&D activities regarding
the development of the product and its applications are expected to open new
avenues for the industry players.
Application Insights
TPV applications can be
broadly classified as automobiles, electrical appliances, medical &
healthcare, consumer goods, coated fabrics, industrial goods, and construction.
The automobile sector
contributes to over 59.8% of global TPV consumption in 2013. The product is the
best alternative for replacing conventional materials owing to its superior
properties over the conventional including high strength, flexibility, low
weight, and abrasion resistance.
The demand for TPV is
likely to witness the highest growth at a CAGR of over 7% during the analysis
period, on account of the rising awareness regarding the use phthalate-free
medical equipment and devices.
Regional Insights
North America contributed
to over 34% of the total demand in 2013 dominating the market. The market is distinguished
by various government schemes such as Corporate Average Fuel Economy (CAFE)
program which enables the automotive manufacturers to reduce the weight of the
automobiles resulting in increased fuel efficiency. This regional trend is
likely to propel the product demand.
The Asia Pacific region is
anticipated to become the leading region in the TPV market on account of the
speedy industrialization in developing economies including Indonesia, India,
and China. The increasing demand for consumer goods coupled with the rising
disposable income in the emerging economies has been instrumental in boosting
the market growth in the region.
The Latin America and Asia
Pacific markets offer new opportunities for the market players in the
automotive industry. The regulatory framework in the developed economies
regarding reduction in fossil fuel consumption together with increasing fuel
efficiency in the automotive sector is likely to propel the growth in regional
markets including North America, and Europe. The consumption of TPV in
healthcare & medical sector in the developed sector is expected to bolster
the product demand on account of the aging population.
Competitive Insights
The major companies in the
market include Arkema Inc, Kraton Polymers, DuPoint Performance Elastomers,
Dexco Polymers, Exxon Mobil, Solvay Engineered Polymers, and The Dow Chemical
Company. The key participants operating globally are continuously involved in
new product development and R&D for providing customized requirements in
the end-use application industries.
The developed markets
provide robust growth on account of the wide range of end-use applications. In
addition, the growth in developing economies is slated to witness a rise in the
application of the product. These untapped markets in the emerging economies
are likely to be captured over the forecast period by the major companies in
the industry.
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