Thermoplastic vulcanizates (TPVs) are high-performance elastomers having special characteristics of vulcanized rubber as well as of thermoplastics. TPV typically comprises of 60% to 70% of ethylene propylene diene monomer (EPDM) and 30% to 40% of impact polypropylene. TPVs have superior strength, high-temperature mechanical properties, and a better compression set than partially cured material. The major application of TPVs is in the automobile industry. TPVs can be molded, injected, extruded, and thermo-folded easily. The biggest advantage of TPVs is that they can be recycled. Other application areas of TPVs include fluid handling, consumer products, construction, health care, and packaging.
The demand for TPVs is mainly driven by its growing use in the automotive industry where they are displacing EPDM in less demanding molded window seals. Also, light weight, high performance, and environmentally friendly materials in the automotive market are driving the market for TPVs in the automotive industry. Moreover, the growing concern regarding the impact PVC has on the environment has led to a shift in trend towards replacing PVC with TPVs, which is also acting as one of the major driver boosting the market for TPVs in the automotive and fluid handling industry. As consumer goods are a highly commoditized market, they are less attractive for TPVs compared to some other markets like automotive and fluid handling.
The growing demand for lightweight materials for manufacturing auto components from the U.S. automotive industry is the major factor for the emergence of North America as the biggest market for TPVs. The Asia-Pacific region is the second largest consumer of TPVs followed by Europe and other countries. The rapid industrialization and the growing disposable incomes in emerging economies of China and India are propelling the growth of TPVs in the region. It is expected that the Asia-Pacific region will be the fastest growing one in the next six years.
Some of the key players in this industry include Arkema Inc, Chemtura Corporation, Dexco Polymers LP, DuPont Performance Elastomers, Kraton Polymers, Solvay Engineered Polymers, and the Dow Chemical Company.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
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- Factors limiting market growth
- Current market trends
- Market structure
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