Global Thermoplastic Vulcanizate (TPV) Market 2018-2023: The Rising Usage in the Healthcare Industry is Driving Growth
DUBLIN, Aug 3, 2018 /PRNewswire/ --
The "Global Thermoplastic Vulcanizate (TPV) Market - Segmented by End-user Industry and Geography - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The thermoplastic vulcanizate market is expected to experience a moderate growth rate during the forecast period, 2018 to 2023. Asia-Pacific is estimated to lead the market, owing to growing demand from the automotive industry.
Necessity for Weight Reduction in Automobile Industry
The usage of thermoplastic vulcanizate (TPV) in automobile industry has increased rapidly in the past few years. The rise in usage is mainly due to its manufacturing flexibility, ease of processing, durability, and low weight. This gives car designers flexibility to incorporate complex designs that are impossible with conventional polymeric materials, such as thermoset rubber and ethylene propylene diene monomer rubber. Increase in consumption of TPV in the automotive industry is mainly due to growing need for improvement in mileage, and increasing government standards for emissions. According to industry experts, weight of the car is reduced by 5% when TPV is used. This reduction in weight, thereby, enhances the dynamics of the vehicles, reduces energy consumption, and improves fuel economy; which, in turn, is expected to drive the market for thermoplastic vulcanizate during the forecast period.
Automotive Industry to Dominate the Market
The automotive industry is expected to dominate the thermoplastic vulcanizate market. Thermoplastic vulcanizate has been extensively used in numerous automotive applications. Some of these applications include, automotive airbags, tires, under-the-hood components, sealing components, and interior & exterior components. In 2017, around 96.80 million motor vehicles were sold and around 97.30 million produced, worldwide. Growing demand for lightweight materials in the automotive industry, in order to provide increased efficiency and design flexibility, has increased the consumption of thermoplastic vulcanizate in the recent years, and this trend is expected to continue during the forecast period.
Asia-Pacific to Lead the Market
Asia-Pacific is projected to dominate the thermoplastic vulcanizate market during the forecast period, due to growing demand in the automotive industry. Asia-Pacific is the largest manufacturing hub for automobiles and its related components. Factors, such as growing automotive production and sales in the region, coupled with increasing number of automotive OEM manufacturers, are expected to drive the market in Asia-Pacific. In addition, growing population, rising urbanization, and changing lifestyles of the consumers in emerging economies, such as China, India, and South Korea, among others, are expected to drive the demand for thermoplastic vulcanizate in the region.
Key Topics Covered
1. Introduction
1.1 Scope of the Report
1.2 Market Definition
1.3 Study Assumptions
1.4 Study Deliverables
1.5 Research Phases
2. Executive Summary
3. Market Insights
3.1 Raw Material Analysis
3.2 Industry Value Chain Analysis
3.3 Industry Attractiveness - Porter's Five Forces Analysis
3.3.1 Threat of New Entrants
3.3.2 Threat of Substitute Products and Services
3.3.3 Bargaining Power of Buyers
3.3.4 Bargaining Power of Suppliers
3.3.5 Intensity of Competitive Rivalry
4. Market Dynamics
4.1 Drivers
4.1.1 Necessity for Weight Reduction in Automobile Industry
4.1.2 Increase in Use of Thermoplastic Vulcanizate in Consumer Goods Industry
4.2 Restraints
4.2.1 Fluctuation in Raw Material Prices
4.3 Opportunities
4.3.1 Rising Usage in Healthcare Industry
5. Market Segmentation and Analysis (Market Size, Growth, and Forecast)
5.1 By End-user Industry
5.1.1 Automotive
5.1.2 Building & Construction
5.1.3 Consumer Goods
5.1.4 Healthcare
5.1.5 Others
6. Regional Market Analysis (Market Size, Growth, and Forecast)
6.1 Asia-Pacific
6.1.1 China
6.1.2 India
6.1.3 Japan
6.1.4 South Korea
6.1.5 Rest of Asia-Pacific
6.2 North America
6.2.1 United States
6.2.2 Canada
6.2.3 Mexico
6.2.4 Rest of North America
6.3 Europe
6.3.1 Germany
6.3.2 United Kingdom
6.3.3 Italy
6.3.4 France
6.3.5 Spain
6.3.6 Rest of Europe
6.4 South America
6.4.1 Brazil
6.4.2 Argentina
6.4.3 Rest of South America
6.5 Middle East & Africa
6.5.1 Saudi Arabia
6.5.2 South Africa
6.5.3 Rest of Middle East & Africa
7. Competitive Landscape
7.1 Mergers and Acquisitions, Joint Ventures, Collaborations and Agreements
7.2 Market Share Analysis**
7.3 Strategies Adopted by Leading Players
8. Company Profiles (Overview, Financials**, Products & Services and Recent Developments)
8.1 Mitsui Chemicals, Inc.
8.2 Exxon Mobil Corporation
8.3 SO.F.TER. S.r.l
8.4 A. Schulman, Inc.
8.5 Polyone Corporation
8.6 Mitsubishi Chemical Corporation
8.7 LCY Group
8.8 Trinseo
8.9 Kumho Polychem
8.10 Mexichem
8.11 Teknor Apex
8.12 Zeon Chemicals L.P.
8.13 Elastron Kimya AS
8.14 Ravago
8.15 Intek Plastics
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