Asia Pacific Thermoplastic Vulcanizate Industry to 2027 – Use of Bio- Based Thermoplastic Vulcanizate Presents Opportunities – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Asia Pacific Thermoplastic Vulcanizate Market Forecast to 2027 – COVID-19 Impact and Asia Pacific Analysis – By End-Use, and Country” report has been added to ResearchAndMarkets.com’s offering.

According to this report the Asian Pacific thermoplastic vulcanizate market was valued at US$ 462.90 million in 2019 and is projected to reach US$ 745.87 million by 2027; it is expected to grow at a CAGR of 6.3% during the forecast period. The report highlights key factors driving the market growth and prominent players, along with their developments in the market.

Thermoplastic vulcanizate (TPV) is a mixture of rubber particles distributed in a thermoplastic matrix. TPV, therefore, has mixed properties, including the characteristics of the vulcanized rubber elastomer as well as the handling properties of the thermoplastic material. Typical TPV contains approximately two-thirds of ethylene propylene diene monomer and one-third of impact polypropylene. This mixture of raw materials can also differ, such as polypropylene with natural rubber, polypropylene and ethylene-octene copolymers, and others.

These materials have a wide range of hardness, excellent flex fatigue, high impact resistance, and superior resistance to acids, bases, and aqueous media. Due to its manufacturing versatility and ease of processing, TPV is used in applications requiring durability and lightweight characteristics, such as in vehicles, construction, and others. The increasing demand for lightweight and high-performance materials in the automotive industry is expected to fuel demand for thermoplastic vulcanizations (TPVs) over the forecast period.

TVPs are increasingly being used as an alternative for thermoset rubbers, such as SBR, EPDM, and chlorosulfonated polyethylene, due to their improved durability, protection, low maintenance, and low manufacturing costs. In addition, their growing adoption for the production of lightweight interiors and exteriors, such as air guides and dams; wiper systems; spoilers and trims; flapper door seals; handles and grips; mattresses and cup holders, is expected to drive segment growth over the forecast period.

Impact of COVID-19 Pandemic on Thermoplastic Vulcanizate Market

The COVID-19 is anticipated to cause a loss of more than 3 Billion in the Asia Pacific region. The consequence and impact can be even worse and totally depends on the spread of the virus. The government of Asia Pacific is taking possible steps to reduce its effects by announcing lockdown, and thus, impact the revenue generated by the market. The Government have asked the chemical & materials manufacturers to delay their production which will adversely affect the global supply of thermoplastic vulcanizate (TPV).

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Market Dynamics

Drivers

• Extensive Demand from Automobile Industry
• Growing Demand of Thermoplastic Vulcanizate from Consumer Goods Industry

Restraints

• Fluctuating Raw Material Prices

Opportunities

• Use of Bio- Based Thermoplastic Vulcanizate

Future Trends

• Rising Usage of Thermoplastic Vulcanizate in Healthcare Industry

Companies Mentioned

• Alphagary
• Exxon Mobil Corporation
• Celanese Corporation
• Kumho Polychem
• Mitsubishi Chemical Corporation
• Mitsui Chemicals, Inc.
• Ravago
• Teknor Apex Company, Inc.
• Trinseo LLC
• Zeon Chemicals L.P.

For more information about this report visit https://www.researchandmarkets.com/r/q7td34

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