Global Thermoplastic Vulcanizates Market 2017 to 2021 - Analysis of key players (BASF, DuPont, Exxon Mobil, LCY GROUP, and PolyOne)

MarketResearchNest.com adds “Global Thermoplastic Vulcanizates Market 2017-2021” new report to its research database. The report spread across in 87 pages with table and figures in it.

Research analysts forecast the global thermoplastic vulcanizates market to grow at a CAGR of 6.31% during the period 2017-2021.
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.

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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.

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.

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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.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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