Global Demand for Thermoplastic Vulcanizates Grows Strong with End-of-life Recyclability, and High Performance of TPVs

A diverse range of physicochemical properties, superior performance, and unique aesthetics predominantly continue to drive demand for thermoplastic vulcanizates (TPVs) across a variety of application areas. TPVs possess an enhanced stability and play a crucial role in rendering abrasion and wear resistance to surfaces that they are applied to. As TPVs continue to deliver excellent performance compared to traditional rubber materials, thermoplastic vulcanizates will remain high in demand worldwide. When compared to traditional rubber products or polyurethane, thermoplastic vulcanizates tend to provide strength, oil resistance, chemical resistance, and high functional efficiency. A new upcoming study of Fairfield Market Research suggests that the end-of-life recyclability of TPVs will remain the key factor fuelling global thermoplastic vulcanizates market.

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Automotive Manufactures Continue to Prefer TPVs over Traditional Rubber Material

Thermoplastic vulcanizates are quickly becoming a staple in the medical industry, as well as a number of other industries welcoming green technology developments. The expanse of medical devices sector is also favouring TPVs as they perform an important role in making of tight seals, and tubing of devices. Lightweight, and superior in terms of performance, TPVs continue to garner greater preference over conventional rubber materials among automakers as well. While their easier processing, faster manufacturing, and lower production costs account for increasing adoption, enhanced mechanical properties that raise their durability will majorly drive adoption within automotive industry.

Continued adoption for a number of high-profile automotive projects, including that of the BMW i8, and the Ford GT. Moreover, some of the industrial applications, including sealing gaskets in water pumps, vibration damping in power tools, and electrical insulation in motors and transformers also generate remarkable demand for thermoplastic vulcanizates, thereby boosting the market growth.

North America's Dominance Intact, Growing Application in Medical Devices Elevate Prospects in Europe, and Asia Pacific

Widely used in a plethora of applications like automotive parts, medical devices, and consumer goods, thermoplastic vulcanizates are likely to retain their high-selling potential in the North American market. Traditionally the largest consumer region of thermoplastic vulcanizates, North America will most likely remain dominant, followed by Europe, and Asia Pacific. Currently, North America accounts for more than 40% of global revenue share and auto industry registers the maximum demand generation. In the near future, uptake by the medical devices segment is likely to exhibit a notable spike on account of the thriving boom around cardiovascular implants like stents, and pacemakers. Europe, and Asia Pacific are projected develop key markets for thermoplastic vulcanizates that are specifically used in the medical devices sector.

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Thermoplastic Vulcanizates Market Competition
The report would present an insightful analysis of some of the key companies stirring competition in global thermoplastic vulcanizates market space. DuPont de Nemours, Inc., JSR Corporation, Mitsui Chemicals, Inc., Exxon Mobil Corp., RTP Company, Celanese Corp., Mitsubishi Chemical Corp., KUMHO POLYCHEM, Ravago Manufacturing, and LyondellBasell Industries Holdings B.V. constitute some of the leading market players that would be covered under the competition analysis section. With newer players entering the fray, the market has been experiencing a surge in competition intensity. Escalating consumption of thermoplastic vulcanizates by the key industries, i.e., automotive, medical, building and construction, and electrical and electronics will further boost the dynamics of competition in the global landscape.

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