Thermoplastic Vulcanizates Market Size to Grow by $ 842.74 million through 2021-2025  

Technavio research projects the thermoplastic vulcanizates market to grow by $ 842.74 million, accelerating at a CAGR of almost 8% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking

Thermoplastic Vulcanizates Market: Receive FREE Sample Report

Thermoplastic Vulcanizates Market: Key Market Driver

One of the primary factors that will trigger the growth of the thermoplastic vulcanizates market size is Increased adoption in automotive industry. This research report provides a comprehensive analysis of all the factors that are likely to propel market growth, taking into account the market trends as well as challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.

Thermoplastic Vulcanizates Market: Vendor Analysis

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Avient Corp., BASF SE, Celanese Corp., DuPont de Nemours Inc., Exxon Mobil Corp., JSR Corp., LCY Chemical Corp., LyondellBasell Industries NV, Mitsui Chemicals, Inc., and RTP Co. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with a pipeline analysis of vendor operations and the impact of government regulations.

For more insights on this market: Download a Free Sample Report

The Global Thermoplastic Vulcanizates Market is expected to grow by $ 842.74 million, accelerating at a CAGR of almost 8% during the forecast period. Although the Materials industry is expected to witness mixed growth as a result of COVID-19, the impact of the pandemic on the market in focus is expected to remain NEUTRAL. Technavio evaluates the market with a detailed investigation into the market forces, emerging trends, and growth drivers. It also provides competitive benchmarking to equip clients with actionable insights that will help them navigate through the current market scenario. Preview our latest report

"The increased adoption in automotive industry will drive the growth prospects for the Global Thermoplastic Vulcanizates Market in the forthcoming years. 36% of the market growth will originate from APAC during the forecast period", says senior research analyst for the Materials Industry at Technavio.

Thermoplastic Vulcanizates Market: End-User Segment Highlights

• End User Segmentation: Automotive, Fluid handling and construction, Medical, and Consumer goods and Others
• Over the past few years, TPVs are gaining popularity in the automotive segment. The industry is expected to witness significant demand for TPVs during the forecast period. TPVs are used for manufacturing different parts of an automotive vehicle. The product, with its inception, has replaced many conventional materials used in the industry, especially EPDM rubber, because of its excellent automotive sealing applications. Automotive will be a fast-growing end-user segment during the forecast period. 
• 36% of the market’s growth will originate from APAC during the forecast period. China and South Korea (Republic of Korea) are the key markets for thermoplastic vulcanizates market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Thermoplastic Vulcanizates Market: Competitive Analysis

• The Thermoplastic Vulcanizates Market is fragmented due to the presence of several vendors.
• Market vendors focused on market expansion, innovations, and expansion of distribution networks.
• Avient Corp., BASF SE, Celanese Corp., DuPont de Nemours Inc., Exxon Mobil Corp., JSR Corp., LCY Chemical Corp., LyondellBasell Industries NV, Mitsui Chemicals, Inc., and RTP Co. are some of the major market participants. Although the growing demand for products with easy recyclability will offer immense growth opportunities, other factors such as rise in popularity of co-polyesters will challenge the growth of the market participants. 

Technavio provides custom research reports with detailed insights on the impact of COVID-19 with respect to the industry, region, and supply chain operations. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations. Download a Free Sample Report