×

Thermoplastic Vulcanizates (TPV) Market By Application (Automotive, Fluid Handling, Consumer Goods, Medical) Is Expected To Reach $1.87 Billion By 2020: New Report By Grand View Research, Inc.

San Francisco, California, March 18, 2015 (GLOBE NEWSWIRE) -- Global thermoplastic vulcanizates (TPV) market is expected to reach USD 1.87 billion by 2020, according to a new study by Grand View Research, Inc. Growing demand for lightweight, high performance materials from automotive industry is expected to drive the global thermoplastic vulcanizates market. Increasing government intervention for improving fuel efficiency has prompted the use high performance engineering plastics including TPV which has fueled its demand. Growth of consumer goods industry in BRIC nations is also expected to have a positive impact on the global market. Volatile price of key feedstock is expected to remain a key challenge for market participants over the forecast period.

Browse full research report on Global Thermoplastic Vulcanizates (TPV) Market with detailed charts and figures: http://www.grandviewresearch.com/industry-analysis/thermoplastic-vulcanizates-industry

Automotive was the largest application segment and accounted for 59.8% of total TPV consumption in 2013. Strong shift in trend towards replacing metals and heavy plastics with engineering plastics in order to reduce the overall weight of automobiles is expected to drive this segment over the forecast period. Medical is expected to witness the highest growth rate of 7.6% from 2014 to 2020. Growing awareness regarding the use of phthalate free medical devices and equipment is expected to drive TPV demand in medical industry.

Further key findings from the study suggest:

  • Global thermoplastic vulcanizates market demand was 297.9 kilo tons in 2013 and is expected to reach 470.8 kilo tons by 2020, growing at a CAGR of 6.8% from 2014 to 2020.
  • North America dominated the global TPV market and accounted for 34.6% of global demand in 2013. The regional market is characterized by several favorable government initiatives including Corporate Average Fuel Economy (CAFE) program which mandates an average mileage of approximately 29 miles per gallon which is expected to go up to 35.5 miles per gallon by 2016. Implementation of such initiatives has prompted automotive manufacturers to reduce overall weight of automobiles in order to achieve optimum fuel efficiency. This trend is expected to drive the regional TPV demand over the next six years.
  • Asia Pacific is expected to witness the highest growth of 7.4% over the forecast period. Growth of key end-use industries including automotive and healthcare particularly in China and India is expected to drive the regional TPV market.
  • Major companies operating in the global TPV market have been constantly involved in R&D and product development to cater specific end-use requirements. Key industry participants include The Dow Chemical Company, Exxon Mobil, Solvay Engineered Polymers, DuPont Performance Elastomers, Arkema Inc., Kraton Polymers and Dexco Polymers.

Get more information on Global Thermoplastic Vulcanizates (TPV) Market or request for sample of this report: http://www.grandviewresearch.com/industry-analysis/thermoplastic-vulcanizates-industry

For the purpose of this study, Grand View Research has segmented the TPV market on the basis of application and region:

Global Thermoplastic Vulcanizates (TPV) Application Outlook (Volume, Kilo Tons, Revenue, USD Million, 2012 - 2020)

  • Automotive
  • Fluid Handling
  • Consumer Goods
  • Medical

Global Thermoplastic Vulcanizates (TPV) Regional Outlook (Volume, Kilo Tons, Revenue, USD Million, 2012 - 2020)

  • North America
    • U.S.
  • Europe
    • UK
    • Germany
  • Asia Pacific
    • Japan
    • China
  • Central & South America
  • Middle East & Africa

Browse to see more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/plastics-polymers-and-resins

About Grand View Research

Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights.

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: Grand View Research

Source:Grand View Research