열가소성 가황물 시장 예측(-2030년) : 원재료별, 가공 방법별, 용도별, 최종사용자별, 지역별 세계 분석

According to Stratistics MRC, the Global Thermoplastic Vulcanizates (TPV) Market is accounted for $1.83 billion in 2023 and is expected to reach $2.96 billion by 2030 growing at a CAGR of 7.1% during the forecast period. Thermoplastic Vulcanizates (TPV) are a class of thermoplastic elastomers that combine the properties of thermoplastics and vulcanized rubber. TPVs consist of a continuous thermoplastic matrix with cross-linked rubber particles dispersed within it. They offer excellent elasticity, resilience, and chemical resistance, making them suitable for a wide range of applications, including automotive components, seals, gaskets, and consumer goods.

According to the International Organization of Motor Vehicle Manufacturers (OICA), in 2022, the total vehicle production in China stood at 27,020,615 units, which increased by 3% compared to 2021.

Market Dynamics:

Driver:

Increasing demand for lightweight materials

The increasing demand for lightweight materials serves as a significant driver in the thermoplastic vulcanizate (TPV) market. TPVs offer a unique combination of lightweight properties along with excellent flexibility, durability, and impact resistance. As industries such as automotive, aerospace, and consumer goods prioritize weight reduction to enhance fuel efficiency, performance, and sustainability, TPVs emerge as an attractive solution. Their ability to replace traditional materials like rubber and metal in various applications further contributes to the growing demand for TPVs.

Restraint:

Limited availability of bio-based TPVs

While there is growing demand for environmentally friendly materials, the production of bio-based TPVs is constrained by factors such as limited availability of raw materials, challenges in processing bio-based compounds, and higher production costs compared to conventional TPVs. This limitation hinders the widespread adoption of bio-based TPVs and poses challenges for manufacturers seeking to meet sustainability objectives and consumer preferences.

Opportunity:

Development of new and improved TPVs

Advancements in polymer chemistry, compounding techniques, and material engineering allow for the creation of TPVs with enhanced properties such as improved mechanical strength, flexibility, and heat resistance. These advancements enable TPVs to meet the evolving needs of various industries, including automotive, construction, and consumer goods, driving demand for innovative TPV solutions and expanding the market for these versatile materials.

Threat:

Competition from alternative products

TPVs offer unique properties such as elasticity, resilience, and chemical resistance, but they face competition from other thermoplastic elastomers (TPEs) such as thermoplastic polyurethane (TPU) and styrenic block copolymers (SBCs), as well as traditional rubber materials. Additionally, advancements in material science and the development of bio-based or recycled alternatives further intensify competition.

Covid-19 Impact:

The COVID-19 pandemic has impacted the thermoplastic vulcanizate (TPV) market, leading to supply chain disruptions, reduced demand from key end-user industries such as automotive and construction, and logistical challenges. However, the market has shown resilience due to TPV's versatility, durability, and applicability in essential sectors like healthcare and consumer goods.

The injection moulding segment is expected to be the largest during the forecast period

The injection molding segment is anticipated to be the largest in the thermoplastic vulcanizate (TPV) market during the forecast period. This is attributed to the widespread adoption of injection molding technology in manufacturing processes for various products, such as automotive components, consumer goods, and industrial parts. Injection molding offers advantages such as high efficiency, design flexibility, and cost-effectiveness, driving its dominance in the TPV market for the production of molded parts.

The medical & healthcare segment is expected to have the highest CAGR during the forecast period

The medical and healthcare segments are poised for lucrative growth in the thermoplastic vulcanizates (TPV) market due to increasing demand for TPV-based medical devices, equipment, and packaging materials. TPVs offer excellent chemical resistance, biocompatibility, and sterilization capabilities, making them ideal for applications such as medical tubing, seals, gaskets, and surgical instruments. Additionally, the growing emphasis on infection control, patient safety, and healthcare hygiene further drives the adoption of TPVs in the medical sector, fostering market growth.

Region with largest share:

The North American region is positioned to capture the largest market share in the thermoplastic vulcanizates (TPV) market due to factors such as robust industrial infrastructure, high demand from the automotive and construction sectors, and stringent regulatory standards promoting the use of TPVs. Additionally, the presence of key market players, technological advancements, and increasing investments in research and development further contribute to North America's dominance in the TPV market, driving its growth and market leadership.

Region with highest CAGR:

Asia Pacific is estimated to register lucrative growth in the thermoplastic vulcanizates (TPV) market due to the region's robust manufacturing sector, increasing investments in automotive and construction industries, and rising demand for TPV-based products in emerging economies such as China and India. Additionally, supportive government initiatives, growing urbanization, and infrastructure development projects further contribute to the region's potential for significant expansion in the TPV market, making it a key growth driver.

Key players in the market

Some of the key players in Thermoplastic Vulcanizates (TPV) Market include Arkema S.A., BASF SE, Celanese Corporation, Dow Inc., DuPont de Nemours, Inc., ExxonMobil Corporation, HEXPOL TPE, Kraiburg TPE GmbH & Co. KG, Kuraray Co., Ltd., Lanxess AG, LyondellBasell Industries N.V., Mitsui Chemicals, Inc., Ravago Holdings America, Inc., RTP Company, Saudi Basic Industries Corporation (SABIC), Sumitomo Chemical Co., Ltd., Teknor Apex, Tosoh Corporation, Trinseo S.A. and Zeon Corporation.

Key Developments:

In June 2023, Teknor Apex expanded its TPV product portfolio with the launch of a new grade, Medalist MD-47180, which provides high-performance cushioning and durability for medical device applications.

In April 2023, Kraiburg TPE introduced a new TPV compound series, THERMOLAST K, designed for automotive interior applications. It offers excellent aesthetics and scratch resistance.

In March 2023, Mitsubishi Chemical Corporation partnered with Denka Company Limited to jointly develop and commercialize advanced TPV materials for automotive applications.

Raw Materials Covered:

• Elastomers
• Thermoplastics
• Other Raw Materials

Processing Methods Covered:

• Blow Moulding
• Compression Moulding
• Extrusion Moulding
• Injection Moulding

Applications Covered:

• Wire & Cable Sheath
• Fluid Handling
• Drug Vial Closures
• Conveyor Belts
• Tubing & Hoses
• Seals & Gaskets
• Footwear Components
• Other Applications

End Users Covered:

• Medical & Healthcare
• Consumer Goods
• Sports & Leisure
• Electronics
• Oil & Gas
• Building & Construction
• Automotive
• Aerospace
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

• 2.1 Abstract
• 2.2 Stake Holders
• 2.3 Research Scope
• 2.4 Research Methodology
  • 2.4.1 Data Mining
  • 2.4.2 Data Analysis
  • 2.4.3 Data Validation
  • 2.4.4 Research Approach
• 2.5 Research Sources
  • 2.5.1 Primary Research Sources
  • 2.5.2 Secondary Research Sources
  • 2.5.3 Assumptions

3 Market Trend Analysis

• 3.1 Introduction
• 3.2 Drivers
• 3.3 Restraints
• 3.4 Opportunities
• 3.5 Threats
• 3.6 Application Analysis
• 3.7 End User Analysis
• 3.8 Emerging Markets
• 3.9 Impact of Covid-19

4 Porters Five Force Analysis

• 4.1 Bargaining power of suppliers
• 4.2 Bargaining power of buyers
• 4.3 Threat of substitutes
• 4.4 Threat of new entrants
• 4.5 Competitive rivalry

5 Global Thermoplastic Vulcanizates (TPV) Market, By Raw Material

• 5.1 Introduction
• 5.2 Elastomers
  • 5.2.1 Ethylene-propylene-diene Monomer (EPDM)
  • 5.2.2 Styrene-butadiene-styrene (SBS)
  • 5.2.3 Chlorinated Polyethylene (CPE)
• 5.3 Thermoplastics
  • 5.3.1 Polypropylene (PP)
  • 5.3.2 Styrene-ethylene/butylene-styrene (SEBS)
• 5.4 Other Raw Materials

6 Global Thermoplastic Vulcanizates (TPV) Market, By Processing Method

• 6.1 Introduction
• 6.2 Blow Moulding
• 6.3 Compression Moulding
• 6.4 Extrusion Moulding
• 6.5 Injection Moulding

7 Global Thermoplastic Vulcanizates (TPV) Market, By Application

• 7.1 Introduction
• 7.2 Wire & Cable Sheath
• 7.3 Fluid Handling
• 7.4 Drug Vial Closures
• 7.5 Conveyor Belts
• 7.6 Tubing & Hoses
• 7.7 Seals & Gaskets
• 7.8 Footwear Components
• 7.9 Other Applications

8 Global Thermoplastic Vulcanizates (TPV) Market, By End User

• 8.1 Introduction
• 8.2 Medical & Healthcare
• 8.3 Consumer Goods
• 8.4 Sports & Leisure
• 8.5 Electronics
• 8.6 Oil & Gas
• 8.7 Building & Construction
• 8.8 Automotive
• 8.9 Aerospace
• 8.10 Other End Users

9 Global Thermoplastic Vulcanizates (TPV) Market, By Geography

• 9.1 Introduction
• 9.2 North America
  • 9.2.1 US
  • 9.2.2 Canada
  • 9.2.3 Mexico
• 9.3 Europe
  • 9.3.1 Germany
  • 9.3.2 UK
  • 9.3.3 Italy
  • 9.3.4 France
  • 9.3.5 Spain
  • 9.3.6 Rest of Europe
• 9.4 Asia Pacific
  • 9.4.1 Japan
  • 9.4.2 China
  • 9.4.3 India
  • 9.4.4 Australia
  • 9.4.5 New Zealand
  • 9.4.6 South Korea
  • 9.4.7 Rest of Asia Pacific
• 9.5 South America
  • 9.5.1 Argentina
  • 9.5.2 Brazil
  • 9.5.3 Chile
  • 9.5.4 Rest of South America
• 9.6 Middle East & Africa
  • 9.6.1 Saudi Arabia
  • 9.6.2 UAE
  • 9.6.3 Qatar
  • 9.6.4 South Africa
  • 9.6.5 Rest of Middle East & Africa

10 Key Developments

• 10.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 10.2 Acquisitions & Mergers
• 10.3 New Product Launch
• 10.4 Expansions
• 10.5 Other Key Strategies

11 Company Profiling

• 11.1 Arkema S.A.
• 11.2 BASF SE
• 11.3 Celanese Corporation
• 11.4 Dow Inc.
• 11.5 DuPont de Nemours, Inc.
• 11.6 ExxonMobil Corporation
• 11.7 HEXPOL TPE
• 11.8 Kraiburg TPE GmbH & Co. KG
• 11.9 Kuraray Co., Ltd.
• 11.10 Lanxess AG
• 11.11 LyondellBasell Industries N.V.
• 11.12 Mitsui Chemicals, Inc.
• 11.13 Ravago Holdings America, Inc.
• 11.14 RTP Company
• 11.15 Saudi Basic Industries Corporation (SABIC)
• 11.16 Sumitomo Chemical Co., Ltd.
• 11.17 Teknor Apex
• 11.18 Tosoh Corporation
• 11.19 Trinseo S.A.
• 11.20 Zeon Corporation