Skip navigation
Reports & Analysis Custom Research Research Subscriptions
Sign In / Create Account Cart
Sign In / Create Account Cart
  • Reports & Analysis
  • Custom Research
  • Research Subscriptions

Resources

  • Analyst Buzz
  • Press Releases
  • Blog
  • Resources & Downloads
  • Impact Tracker

The Freedonia Group

  • Contact
  • About
  • Our Staff
  • Help Center
  • Career Opportunities
Freedonia Market Research Freedonia Group Global Thermoplastic Vulcanizates

Global Thermoplastic Vulcanizates

Industry Reports, Global

Report Overview

Featuring 53 tables and 33 figures – now available in Excel and Powerpoint! Learn More

Infographic on the thermoplastic vulcanizates market

This study covers the global market for thermoplastic vulcanizates (TPVs). End-use markets for TPVs comprise:

  • motor vehicles, includes TPVs used in exterior, structural, engine, mechanical, and interior applications
  • industrial products
  • consumer goods (including footwear, appliances, household products, and personal care products)
  • medical products, including IV bags and tubing, syringe tips, peristaltic tubes, seals, gaskets, grips, personal protection equipment, and ventilator components
  • others, including packaging and wire and cable jacketing

Historical data (2009, 2014, and 2019) and forecasts for 2024 and 2029 are presented for global thermoplastic vulcanizate demand in metric tons by product and market on a country-by-country basis. The terms “demand”, “sales”, and “market” – defined as domestic shipments, plus imports, minus exports – are used interchangeably in the study.

Chart Global Thermoplastic Vulcanizate Demand Growth by Market, 2009-2029

Markets

Demand by Market

Demand for TPVs is projected to grow 3.7% per year through 2024 to 515,500 metric tons, driven by:

  • increasing manufacturing – notably motor vehicle and medical products – globally
  • rising technological capabilities of manufacturing industries in developing countries, allowing for greater uptake of TPEs in general
  • the greater ability of TPVs to reduce raw material waste, which is causing more companies to use these products at the expense of competitive rubber materials
  • TPV’s ability to bond with engineering thermoplastics, which reduces manufacturing time and costs by limiting the number of steps need to assemble components
  • growing consumer backlash against plastics, which is leading producers of products meant for personal care and food applications to prefer TPVs to improve marketing and consumer health

Thermoplastic vulcanizate elastomers are highly versatile materials that find use in a range of applications. Motor vehicles are the primary market, accounting for 60% of global demand in 2019, and the bulk of opportunities for TPV use will continue to be in this market. Healthy expansion in the motor vehicle market will be due to:

  • an acceleration in global motor vehicle production through 2024
  • new weight saving and recyclability challenges, which will lead to increased penetration of TPVs in under-the-hood and sealing system applications

TPVs are also used in industrial products, consumer goods, and wire and cable, among other applications. Although only about a third of the size of the motor vehicle market, production of industrial products will also provide solid opportunities for TPVs, which are continuing to replace thermoset rubbers in hoses, belts, seals, gaskets, knobs, and clamps.

Medical Products

The medical products market includes TPVs used in the manufacture of such items as:

  • IV bags and tubing
  • syringe tips
  • peristaltic tubes
  • seals, gaskets, and grips
  • personal protection equipment
  • ventilator components

Demand for TPVs in the medical products market is forecast to increase 3.7% per year to 15,000 metric tons in 2024. TPV demand in this market rose sharply in 2020, as growing demand for PPE and medical equipment such as ventilator components boosted the output of medical products. Going forward, market levels will remain elevated as more manufacturers hasten the switch to TPVs in part due to their cost efficiency and ability to be sterilized without losing shape, which users of these medical products find increasingly valuable in the post-pandemic era. Increasing healthcare spending, due in part to the large aging populations of North America and Europe, will be the main driver of medical product demand for TPVs.

Similar to other markets, TPVs have been steadily supplanting thermoset rubber in medical products, due in part to:

  • cost-reduction efforts, particularly in light of healthcare cost discussions in the US
  • the ability to mold TPVs into a wide variety of shapes
  • concerns surrounding natural-rubber latex sensitivity, which can cause reactions up to and including death from anaphylactic shock, and exposure to other chemicals of concern such as plasticizers
  • the excellent temperature resistance of TPVs, allowing for sterilization of medical products
  • TPV’s chemical resistance, allowing for use of disinfectants on medical products containing TPVs

Demand by Region

The Asia/Pacific region is the largest regional market and has historically grown at an above average rate, while intensity of use per capita is higher in North America and Western Europe. This reflects TPV’s rapid market penetration in motor vehicle applications, a trend that is expected to continue.

TPV’s performance advantages relative to thermoset rubbers will boost growth in North America and Western Europe. In these regions, the material is increasingly being adopted across all markets, even motor vehicles. Although TPV use is somewhat mature in exterior components, manufacturers continue to look for ways to use TPVs in more under the hood applications in order to meet strict emissions regulations and improve the performance of electric vehicles.  

The Asia/Pacific region will post significant absolute gains for TPV demand. Rising motor vehicle production and customer demand for higher performance seals, belts, and gaskets will spur TPV sales among export-oriented suppliers. Gains will be particularly strong among Chinese manufacturers, due to an ongoing shift in the country toward more durable, higher value products.

Global demand for thermoplastic vulcanizates (TPVs) is projected to increase 3.7% per year to 515,500 metric tons, driven by:

  • TPV’s performance advantages, design flexibility, and easier processability relative to thermoset rubbers and other TPEs
  • ongoing market penetration in motor vehicle applications, most notably in the Asia/Pacific region

Motor Vehicles & Industrial Products Will Remain Important Outlets for TPVs

In 2019, motor vehicle applications for TPVs accounted for 60% of demand, and this large market will offer the best opportunities for new sales through 2024. Growth will be supported by:

  • global increases in motor vehicle production
  • the ongoing replacement of thermoset and EPDM rubber with TPV due to its improved performance, reduced weight, and affordability

Healthy growth will also be seen for the sizable industrial product market due to:

  • the greater ability of TPVs to reduce raw material waste, which is causing more companies to use them instead of competitive rubber materials
  • TPV’s ability to bond with engineering thermoplastics, which reduces manufacturing time and costs by limiting the number of steps need to assemble components
  • growing awareness of the possible negative health impacts of plastics, leading producers of personal care and food products to prefer TPVs

China Remains Dominant, But Other Asia/Pacific Countries Offer Opportunities

China is expected to remain the single largest market globally for TPVs through 2024 with 22% of global demand. This market’s dominance is boosted by the sheer size of the motor vehicle and industrial markets in China, as well as by increasing healthcare spending.

However, manufacturing is increasing throughout the region, especially in countries with low production costs, such as Thailand and Vietnam, where manufacturers have moved their facilities in order to reduce expenses as labor costs in China rise. These countries will also see further penetration of TPV in their industrial products, spurred by the increasingly sophisticated products being manufactured for export markets. Medical products will also see solid gains, as the need for healthcare equipment increases globally.

Developed Regions Will Continue to Account for a Large Share of Demand

Despite a less robust rate of growth when compared to developing economies, the US, Japan, and Western Europe will continue to dominate the global TPV market, together accounting for about half of all TPV demand globally by 2024:

  • Three of the four largest motor vehicle industries are found in US, Japan, and Germany.
  • TPVs are penetrating a variety of motor vehicle applications, including weather stripping and automotive corner mold seals, in these areas.
  • Industrial products will also offer opportunities in North America and Western Europe, where the developed status of these regional industries allow for the use of higher-grade material.
Purchase Options

Purchase Report

Select your license:

  • $3,900.00
  • $5,400.00
  • $6,500.00

Subscription Options

License by subscription

Check to see if this report is available through our subscription services.

Subscription Pricing
Already have a subscription? Log in.

Free Sample Report

A free sample report is available.

Questions & Assistance

Our representatives are available to help answer your questions.

Live Chat is Offline
Email us

Share This Report

Copied to clipboard. Could not copy to clipboard.

Download a Free Sample Report Now

Sample Reports include examples of all the tables, charts, infographics and topics included in this study.

Use Licenses

The Single User License (SUL) authorizes a single individual to use the electronic study acquired. Agreement to the SUL is required in order to purchase the study. If you require more than one user a Departmental Site License or Global Site License should be purchased. 

The Departmental Site License (DSL) authorizes up to five users to share the study acquired. Agreement to the DSL is required in order to purchase the study. If your organization requires more than five users, the Global Site License should be purchased.

The Global Site License (GSL) allows everyone in your organization to share the study intelligence. Agreement to the Global Site License terms is necessary in order to purchase it. 

;

Related Reports and Studies

  • Solid Surface & Other Cast Polymers: United States

    Focus Reports

    This report forecasts US cast polymer demand in square meters to 2019.

    October 2015 25 pages
    Free sample available
  • World Rubber

    Industry Reports

    World Rubber presents historical demand data (2004, 2009 and 2014) plus forecasts (2019 and 2024) by application (e.g., motor vehicle tires and tire components, non-tire rubber products) and type (synthetic, natural) in six world regions and 23 countries.

    February 2016 393 pages
    Free sample available
  • World Rubber

    Focus Reports

    This report forecasts total world demand in 2019 for rubber by type, application, and major world region in metric tons.

    February 2016 29 pages
    Free sample available
  • Natural Polymers

    Industry Reports

    Natural Polymers analyzes the US market for natural polymers. It presents historical demand data (2005, 2010 and 2015) plus forecasts (2020 and 2025) by market (food and beverages, medical, oilfield, cosmetics and toiletries, coatings and inks, construction, adhesives, packaging, textiles, other) and product (cellulose ethers, starch and fermentation polymers, exudate and vegetable gums, protein-based polymers, marine polymers, other).

    June 2016 288 pages
    Free sample available
  • Plastic Foams

    Industry Reports

    Plastic Foams presents historical demand data (2005, 2010 and 2015) plus forecasts (2020 and 2025).

    June 2016 331 pages
    Free sample available
  • Natural Polymers: United States

    Focus Reports

    This report forecasts US natural polymer demand in US dollars at the manufacturers' level to 2020.

    May 2016 32 pages
    Free sample available
  • High Performance Composites

    Industry Reports

    High Performance Composites presents historical demand data for 2005, 2010 and 2015, plus forecasts for 2020 and 2025.

    August 2016 180 pages
    Free sample available
  • High-Performance Composites: United States

    Focus Reports

    This report forecasts US high-performance composite (HPC) demand in US dollars at the manufacturers' level and in pounds to 2020.

    August 2016 32 pages
    Free sample available
  • Polyurethane Market in the US by Raw Material, Type and Market, 2nd Edition

    Industry Reports

    November 2016 173 pages
    Free sample available
  • Global Emulsion Polymers Market, 7th Edition

    Industry Reports

    This Freedonia industry study analyzes the global emulsion polymers market, which totaled 10.2 million metric tons ($27.5 billion) in 2015. It presents historical demand data (2005, 2010, 2015) and forecasts (2020 and 2025) by product (acrylic, SB latex, vinyl acetate polymers) and market (paint & coatings, paper & paperboard coatings, adhesives, carpet backing) for 16 major countries and 6 world regions.

    November 2016 300 pages
    Free sample available
View More

Have unique research needs?

Freedonia Custom Research listens intently to your needs and objectives. Then we work diligently to define a service offering to meet them.
Learn About Our Custom Research Services

Stay informed with Freedonia

Receive periodic updates about new market research in areas relevant to your business. Have the convenience of Freedonia research at your fingertips when you need it.
  • Contact
  • About
  • Help Center
  • Career Opportunities
  • Press
  • User Agreement
  • Privacy Policy
  • Site Map
Facebook Linkedin Twitter

Additional Resources

  • Market Size Resources
  • Lawn Mowers Research
  • Global Motor Vehicle Research
  • Global Paint & Coatings Research
  • Global Industrial Valves Research
  • Global Agricultural Equipment Research
  • Indoor Air Quality Equipment Research
  • Global Adhesives & Sealants Research
  • Hardscaping Products Research
  • Residential Landscaping Research
  • Food Packaging Research
  • Global Carpets & Rugs Research
  • Global Residential HVAC Research
Copyright © 2023 MarketResearch.com, Inc. All rights reserved.