The global thermoplastic vulcanizate market is projected to reach $1.8 billion by 2028, at a CAGR of 5.5% during 2023-2028. The growth of thermoplastic vulcanizate market is driven by growing use of thermoplastics as a replacement of metals in end use industries; rising demand for eco-friendly, lightweight, durable, and safe materials; and favorable government policies to use recyclable materials across various countries.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the
most promising, high-growth opportunities for the thermoplastic vulcanizate
market by application (automotive, fluid handling, consumer goods, medical,
footwear, and others) and region (North America, Europe, Asia Pacific, and the
Rest of the World)?
Q.2 Which segments will
grow at a faster pace and why?
Q.3 What are the
business risks and threats to the thermoplastic vulcanizate market?
Q.4 What are some
changing demands of customers in the thermoplastic vulcanizate market?
Q.5 What are the new
developments in the thermoplastic vulcanizate market? Which companies are
leading these developments?
Q.6 What strategic
initiatives are being implemented by key players for business growth?
Q.7 What are some of the
competitive products and processes in this thermoplastic vulcanizate area and
how big of a threat do they pose for loss of market share via product
substitution?
Q.8 What M&A activity has occurred in the last 5 years in this thermoplastic vulcanizate market?
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Market Segmentation:
Based on application,
the thermoplastic vulcanizate market is segmented into automotive, fluid
handling, consumer goods, medical, footwear, and others. The automotive segment
accounted for the largest share of the market in 2023 and is expected to
register the highest CAGR during the forecast period, due to the increasing use
of thermoplastics as a high-performing and lightweight material in vehicle
parts, such as gaskets, air duct covers, headlamps seats, vibration dampeners,
and panel hole plugs.
North America will
remain the largest region due to extensive production of passenger cars with
the use of thermoplastics, presence of key players, and growing trend of
electric vehicles in the region.
Key Players in the thermoplastic
vulcanizate market are JSR, Exxon Mobil, RTP, DuPont de Nemours, Mitsui, and
Celanese.
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The report helps stakeholders understand the
pulse of the market and provides them with information on key drivers,
restraints, challenges, and opportunities for market growth. It would also help
to understand the competitors better and gain more insights to improve their
position in the business.
To read more about this market please click on
https://www.lucintel.com/thermoplastic-vulcanizate-market.aspx.
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
Roy Almaguer
Lucintel
Dallas,
Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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