Global Thermoplastic Vulcanizates Market Size Study, by Processing Method (Injection Molding, Extrusion), by Application (Automotive, Footwear, Consumer Goods, Fluid Handling, Medical), and Regional Forecasts 2022-2032

Description

The Global Thermoplastic Vulcanizates Market, valued at approximately USD 2.77 billion in 2023, is projected to witness a robust CAGR of 6.50% over the forecast period from 2024 to 2032. Thermoplastic vulcanizates (TPVs), known for their exceptional elasticity, processability, and resistance to heat and chemicals, are increasingly being utilized across diverse industries. These materials, which combine the benefits of vulcanized rubber and thermoplastics, cater to demanding applications in the automotive, medical, and consumer goods sectors. With evolving market dynamics, TPVs have established their place as the material of choice for manufacturers aiming for sustainability and performance enhancement.

The market growth is significantly propelled by the increasing adoption of TPVs in the automotive industry, where lightweight materials are sought to enhance fuel efficiency and reduce emissions. Meanwhile, medical applications leverage TPVs for their biocompatibility and sterilization compatibility, aligning with the sector's stringent regulatory standards. Advancements in injection molding and extrusion processes have further facilitated cost-effective production, enabling wider adoption. Despite facing challenges such as high initial investment costs and competition from conventional elastomers, the market is buoyed by a surge in R&D initiatives and strategic partnerships aimed at expanding TPV applications.

Regionally, Asia-Pacific emerges as the fastest-growing market, driven by rapid industrialization, an expanding automotive industry, and rising disposable incomes in countries like China, India, and South Korea. North America, on the other hand, remains a significant contributor, supported by the presence of established market players and a strong emphasis on innovation. Europe demonstrates steady growth due to stringent environmental regulations and increased demand for sustainable materials, particularly in automotive and fluid handling applications. Latin America and the Middle East & Africa exhibit promising potential as industries in these regions increasingly embrace advanced materials to meet evolving consumer demands.

Major market players included in this report are:

ExxonMobil Chemical Company
JSR Corporation
Mitsui Chemicals, Inc.
Teknor Apex Company
RTP Company
Celanese Corporation
Kraiburg TPE GmbH
Dynasol Group
LG Chem Ltd.
Dow Inc.
DuPont
PolyOne Corporation
Sumitomo Chemical Co., Ltd.
Hexpol AB
Zeon Corporation

The detailed segments and sub-segment of the market are explained below:

By Processing Method:

Injection Molding
Extrusion

By Application:

Automotive
Footwear
Consumer Goods
Fluid Handling
Medical

By Region:

North America:

U.S.
Canada

Europe:

UK
Germany
France
Spain
Italy
Rest of Europe

Asia Pacific:

China
India
Japan
Australia
South Korea
Rest of Asia Pacific

Latin America:

Brazil
Mexico

Middle East & Africa:

Saudi Arabia
South Africa
Rest of Middle East & Africa

Years considered for the study are as follows:

Historical year: 2022
Base year: 2023
Forecast period: 2024 to 2032

Key Takeaways:

Market estimates and forecasts for 10 years from 2022 to 2032.
Annualized revenues and regional-level analysis for each market segment.
Comprehensive insights into geographical trends with country-specific analysis.
Detailed competitive landscape featuring major industry players.
Strategic recommendations and forward-looking insights for stakeholders.

Chapter 1. Global Thermoplastic Vulcanizates Market Executive Summary

1.1. Global Thermoplastic Vulcanizates Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Processing Method
- 1.3.2. By Application
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Thermoplastic Vulcanizates Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Thermoplastic Vulcanizates Market Dynamics

3.1. Market Drivers
- 3.1.1. Increasing Adoption in the Automotive Industry
- 3.1.2. Advancements in Processing Methods
- 3.1.3. Government Incentives for Sustainable Materials
3.2. Market Challenges
- 3.2.1. High Initial Investment Costs
- 3.2.2. Competition from Conventional Elastomers
3.3. Market Opportunities
- 3.3.1. Expansion into Emerging Markets
- 3.3.2. Innovation in Processing Technologies
- 3.3.3. Strategic Partnerships and Collaborations

Chapter 4. Global Thermoplastic Vulcanizates Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Thermoplastic Vulcanizates Market Size & Forecasts by Processing Method 2022-2032

5.1. Segment Dashboard
5.2. Global Thermoplastic Vulcanizates Market: Processing Method Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 5.2.1. Injection Molding
- 5.2.2. Extrusion

Chapter 6. Global Thermoplastic Vulcanizates Market Size & Forecasts by Application 2022-2032

6.1. Segment Dashboard
6.2. Global Thermoplastic Vulcanizates Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 6.2.1. Automotive
- 6.2.2. Footwear
- 6.2.3. Consumer Goods
- 6.2.4. Fluid Handling
- 6.2.5. Medical

Chapter 7. Global Thermoplastic Vulcanizates Market Size & Forecasts by Region 2022-2032

7.1. North America Thermoplastic Vulcanizates Market
- 7.1.1. U.S. Thermoplastic Vulcanizates Market
  - 7.1.1.1. Processing Method Breakdown Size & Forecasts, 2022-2032
  - 7.1.1.2. Application Breakdown Size & Forecasts, 2022-2032
  - 7.1.1.3. End-use Breakdown Size & Forecasts, 2022-2032
  - 7.1.1.4. Regional Breakdown Size & Forecasts, 2022-2032
- 7.1.2. Canada Thermoplastic Vulcanizates Market
7.2. Europe Thermoplastic Vulcanizates Market
- 7.2.1. UK Thermoplastic Vulcanizates Market
- 7.2.2. Germany Thermoplastic Vulcanizates Market
- 7.2.3. France Thermoplastic Vulcanizates Market
- 7.2.4. Spain Thermoplastic Vulcanizates Market
- 7.2.5. Italy Thermoplastic Vulcanizates Market
- 7.2.6. Rest of Europe Thermoplastic Vulcanizates Market
7.3. Asia-Pacific Thermoplastic Vulcanizates Market
- 7.3.1. China Thermoplastic Vulcanizates Market
- 7.3.2. India Thermoplastic Vulcanizates Market
- 7.3.3. Japan Thermoplastic Vulcanizates Market
- 7.3.4. Australia Thermoplastic Vulcanizates Market
- 7.3.5. South Korea Thermoplastic Vulcanizates Market
- 7.3.6. Rest of Asia Pacific Thermoplastic Vulcanizates Market
7.4. Latin America Thermoplastic Vulcanizates Market
- 7.4.1. Brazil Thermoplastic Vulcanizates Market
- 7.4.2. Mexico Thermoplastic Vulcanizates Market
- 7.4.3. Rest of Latin America Thermoplastic Vulcanizates Market
7.5. Middle East & Africa Thermoplastic Vulcanizates Market
- 7.5.1. Saudi Arabia Thermoplastic Vulcanizates Market
- 7.5.2. South Africa Thermoplastic Vulcanizates Market
- 7.5.3. Rest of Middle East & Africa Thermoplastic Vulcanizates Market

Chapter 8. Competitive Intelligence

8.1. Key Company SWOT Analysis
- 8.1.1. ExxonMobil Chemical Company
- 8.1.2. JSR Corporation
- 8.1.3. Mitsui Chemicals, Inc.
8.2. Top Market Strategies
8.3. Company Profiles
- 8.3.1. ExxonMobil Chemical Company
  - 8.3.1.1. Key Information
  - 8.3.1.2. Overview
  - 8.3.1.3. Financial (Subject to Data Availability)
  - 8.3.1.4. Product Summary
  - 8.3.1.5. Market Strategies
- 8.3.2. JSR Corporation
- 8.3.3. Mitsui Chemicals, Inc.
- 8.3.4. Teknor Apex Company
- 8.3.5. RTP Company
- 8.3.6. Celanese Corporation
- 8.3.7. Kraiburg TPE GmbH
- 8.3.8. Dynasol Group
- 8.3.9. LG Chem Ltd.
- 8.3.10. Dow Inc.

Chapter 9. Research Process

9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
9.2. Research Attributes