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Total Views: 214Word Count: 548See All articles From Author Thermoplastic Vulcanizates Market Growth Area, Development Trends and Specifications Forecast To 2020
26 November 2018: Global Thermoplastic Vulcanizates (TPV) Market is expected to reach USD 1.87 billion by 2020. The increasing demand for high performance and lightweight materials in the automotive sector is likely to have a positive impact on the growth of the product market. The change in preferences from metals to lightweight materials for improving fuel efficiency is expected to boost the market.
TPV possess elastomeric characteristics similar to EPDM thermoset rubber, merging the vulcanized rubber properties with processing attributes of thermoplastics. The product has its applications in the automotive, electrical, household appliances Wholesale Josh Rosen Jersey , healthcare and construction industries owing to attributes such as long-term aging durability, recyclable, and design flexibility.
The government regulations regarding improvement in fuel efficiency have resulted in the increased use of high performance engineering plastics such as TPV, thereby aiding the product demand especially in the Europe and North America regions. The depletion of hydrocarbon reserves together with high dependability on fossil fuels is slated to bolster the automotive fuel efficiency resulting in positive impact on the TPV demand.
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The application of the product as natural rubber substitute across numerous end-use industries is likely to propel the market growth. The fluctuating price of major feedstock is anticipated to restrain the TPV market growth. The R&D activities regarding the development of the product and its applications are expected to open new avenues for the industry players.
The automobile sector contributes to over 59.8% of global TPV consumption in 2013. The product is the best alternative for replacing conventional materials owing to its superior properties over the conventional including high strength, flexibility, low weight Wholesale Mason Cole Jersey , and abrasion resistance.
The demand for TPV is likely to witness the highest growth at a CAGR of over 7% during the analysis period, on account of the rising awareness regarding the use phthalate-free medical equipment and devices.