Arkema S.A.
(France), Asahi Kasei Corporation (Japan), BASF SE(Germany), BAYER AG(Germany),
The Dow Chemical Company( U.S.), Dow Corning Corporation(U.S.), Eni S.p.A.(
Italy), Exxon Mobil Corporation( U.S.), Mitsubishi Chemical Holdings
Corporation ( Japan) and KRATON CORPORATION (U.S.) among others are some of the
prominent players at the forefront of competition in the Global Thermoplastic
Vulcanizates Market and are profiled in MRFR Analysis.
Thermoplastic
Vulcanizates Market – Market Overview:
The global
thermoplastic vulcanizates market is growing with the instantaneous pace;
mainly due to the burgeoning automotive industries. According to a recent study
report published by the Market Research Future, the global market of
thermoplastic vulcanizates is prospering and expected to gain strong influence
over the forecast period. The market is estimated to demonstrate a remarkable
growth by 2023, surpassing its previous growth records in terms of value with a
striking CAGR during the forecasted period (2017 – 2023).
Globally,
the market for thermoplastic vulcanizates is driven by the region North
America, owing to enactment of government based initiative such as Corporate
Average Fuel economy to substitute metals with plastics in end-use industries.
These materials are utilized in non-load bearing parts such as battery frames,
car bumpers, and others. Additionally, the lightweight materials are also
consumed in the medical applications such as gaskets, stoppers, and others due
to advantages such as reliable, durable, and cost-effective nature offered by
the product.
Increasing
demand for the product in applications such as air ducts, tubing, moulded
seals, grommets, and others signifies the growth of automotive industries.
Moreover, growing consumption of product due to unique features offered by the
product such as efficient, superior performance provide a boost to the
thermoplastic vulcanizates market growth.
On the other
hand, extensive use of reduced weight materials than metals in major industries
is projected to propel the market growth during the forecast period.
Thermoplastic
vulcanizates are used in various end-use industries such as automotive,
construction & buildings, marine, aerospace, energy, and others. They are
also utilized in major sectors due to their ease of application, recyclable,
and versatile nature. The growing demand of these polymers has prompted the
manufacturers and investors to shift their focus from heavy substances to
lightweight materials in end-use applications. Additionally, the growing
research & development activities and innovations of the product in the
established companies have resulted into a remarkable growth in the market
during the forecast period.
Access
Complete Report @ https://www.marketresearchfuture.com/reports/thermoplastic-vulcanizates-market-4704
Thermoplastic
Vulcanizates Market - Regional Analysis:
Geographically,
North America is leading the global thermoplastic vulcanizates market. The U.S.
holds the major portion owing to rising infrastructure developments coupled
with technological advancement in the major sector. Increasing consumption of
thermoplastic vulcanizates in automotive, fluid handling, consumer goods,
medical and others has boosted the market demand in Canada, and Mexico. Asia
Pacific has witnessed a significant growth in the market owing to rapid
consumption of thermoplastic polymers in end-use industries. A notable growth
has been received by the European region due to implementation of strict rules
and regulations to adopt eco-friendly products instead of heavy metals in major
sectors. Additionally, the market is growing significantly in the Middle East
& Africa and Latin America regions, due to rising adoption of polymers in
end-use industries.
Thermoplastic
Vulcanizates Market- Competitive Landscape:
The
thermoplastic vulcanizates market appears to be competitive with the presence
of several large and small players operating in manufacturing and development
of product. These key players compete with each other’s on the basis of
quality, price, production and innovation. Thermoplastic vulcanizates market is
set to grow at a significant rate which is likely to attract many entrants to
the market resulting into healthy competition in the future. Manufacturers
operating in the thermoplastic vulcanizates market are striving their level
best to respond to an increase in demand for the product from automotive,
construction & buildings, aerospace, and other sectors attributed to
growing production capacity in major sectors. They ensure to deliver the best
quality products based on innovative technologies, solutions and best
practices.
Industry/
Innovation/ Related News:
October 24,
2017 – Exxon Mobil Corporation (U.S.), one of the leading producers of
thermoplastic vulcanizates, declared that the company has decided to launch two
grades of santoprene-brand thermoplastic vulcanizates by the end of 2017. These
products have excellent friction performance, bonding strength with EPDM
(ethylene propylene diene monomer (M- class) rubber). One of the sources of the
company also announced that these products were developed to impart lightweight
and cost-effective nature to the final product. Therefore, these factors are
expected to drive the market over the assessment period.
July 20,
2016 – Exxon Mobil Corporation (U.S.), one of the prominent manufacturers of
thermoplastic vulcanizates, declared that the company has decided to expand the
production capacity of specialty elastomers plant by 25% in Newport, Wales.
This process was initiated due to soaring demand for the product in various
applications such as health care device, automotive seals, and others.
Therefore, these factors are expected to drive the market over the assessment
period.
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