Report : Europe Thermoplastic Vulcanizate Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By End-Use (Automotive, Building and Construction, Consumer Goods, Healthcare, Others), and Country
Advantage of using Thermoplastic Vulcanizate is projected to escalate the Thermoplastic Vulcanizate market growth at CAGR of 5.9% during 2020–2027
According to our latest market study on “Europe Thermoplastic Vulcanizate Market Forecast to 2027 – COVID-19 Impact and Europe (EU) Analysis – By End-Use (Automotive, Building and Construction, Consumer Goods, Healthcare, Others), and Country,” the market was valued at US$ 377.70 million in 2019 and is projected to reach US$ 592.51 million by 2027; it is expected to grow at a CAGR of 5.9% 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.
The Europe Thermoplastic Vulcanizate market is concentrated with a few well-established players such as Mitsui Chemicals, Inc., Celanese Corporation, Mitsubishi Chemical Corporation, Kumho Polychem, Trinseo, Teknor Apex, ExxonMobil, Zeon Chemicals L.P., Alphagary, and Ravago.
Impact of COVID-19 Pandemic on Thermoplastic Vulcanizate Market
In Europe, as per the recent data, Russia has recorded the highest number of COVID cases. Other than this, France, UK, Italy, Spain and Germany have also been hit hard and are expected to suffer an economic hit due to a lack of revenue from various industries. Other member states have implemented drastic measures and travel restrictions, including partially closing their borders. This is anticipated to impact market growth in Europe.
The report includes the segmentation of the Europe Thermoplastic Vulcanizate market as follows:
By End-Use Industry
- Building & Construction
- Consumer Goods
- Rest of Europe
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