Top Players in the Thermoplastic Vulcanizates Market: A Comprehensive Overview
The thermoplastic vulcanizates Market size is approximated is projected to reach USD 4.9 billion by 2032, at a CAGR of 6.5%. In the Study you will find new evolving thermoplastic vulcanizates market trends, drivers, restraints, 0pportunities generated by targeting market associated stakeholders. Thermoplastic Vulcanizates (TPVs) are a type of thermoplastic elastomer that combines the processing ease of thermoplastics with the physical properties of vulcanized rubbers. They are produced by the cross-linking of a thermoplastic polymer and a rubber polymer through a process called dynamic vulcanization. TPVs offer a number of advantages, including good heat resistance, low compression set, excellent dimensional stability, and good electrical insulation properties. They are commonly used in applications such as seals, gaskets, and flexible automotive parts, due to their combination of high elasticity, strength, and durability.
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Key Industry Insights & Findings from the report:
⇛ In November 2022, Mitsui Chemicals, Inc. has signed an agreement with Hokkaido University to establish an industry creation research and development department.
⇛ In November 2022, Mitsui Chemicals, Inc.has signed an agreement with Kyoto University to build an autonomous testing system for automated synthesis.
⇛ In November 2022, LyondellBasell Industries Holdings B.V., has collaborated with the automobile company Audi AG to use the plastic which is recovered from automobile plastic waste.
⇛ In November 2022, Mitsui Chemicals, Inc opened a digital science lab to accelerate further the digital transformation (DX) of its R&D through digital science.
⇛ In October 2022, LyondellBasell Industries Holdings B.V., has signed a Memorandum of Understanding (MoU) with The Shakti Plastic Industries to form a joint venture to build and operate a fully automated mechanical recycling plant in India.
⇛ In October 2022, LyondellBasell Industries Holdings B.V., has signed a Memorandum of Understanding (MoU) with Genox Recycling Tech Co., Ltd. to establish a joint venture (JV) to build a plastics recycling plant in China.
⇛ In June 2022, Mitsui Chemicals, Inc. has developed an environmentally friendly grade of MILASTOMER by using a recycled polyolefin as a principal component of the thermoplastic elastomer.
⇛ In June 2022, Trinseo Plc opened its new Global Business Services (GBS) office in Dublin City Centre, welcoming representatives from leading local businesses and organizations.
⇛ In February 2022, Celanese Corporation has announced the acquisition of the Mobility & Materials (“M&M”) business division of DuPont de Nemours, Inc.
⇛ In January 2022, Trinseo Plc has completed the acquisition of Heathland B.V., a leading collector and recycler of post-consumer and post-industrial plastic wastes in Europe.
Thermoplastic Vulcanizates Market Growth & Trends
The Thermoplastic Vulcanizates (TPV) market is experiencing significant growth due to their unique combination of thermoplastic and elastomeric properties, making them ideal for various applications across industries such as automotive, consumer goods, and construction. The increasing demand for lightweight, durable materials that offer excellent thermal and chemical resistance is driving market expansion. Additionally, advancements in manufacturing technologies and the rising trend of sustainability are propelling the development of eco-friendly TPV formulations. As industries seek alternatives to traditional materials, the TPV market is poised for continued innovation and robust growth in the coming years.
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Thermoplastic Vulcanizates Market Segmentation
MarketsandMarkets™ has segmented the global thermoplastic vulcanizates market on the basis of processing method, application, and region
Thermoplastic Vulcanizates Market by Processing Method
- Injection Molding
- Extrusion
- Others
Thermoplastic Vulcanizates Market by Application
- Automotive
- Fluid Handling
- Footwear
- Consumer Goods
- Medical
- Others
Thermoplastic Vulcanizates Market by Region
- North America
- Europe
- Asia Pacific (APAC)
- South America
- Middle East & Africa
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List of Key Players of Thermoplastic Vulcanizates Market
☑️ Holdings B.V. (Netherlands)
☑️ Celanese Corporation (US)
☑️ DuPont de Nemours, Inc. (US)
☑️ Mitsui Chemicals, Inc.(Japan)
☑️ Trinseo Plc (US).
☑️ Mitsubishi Chemical Corporation (Japan)
☑️ Lotte Chemical Corporation (South Korea)
☑️ RTP Company (US)
☑️ HEXPOL AB. (Sweden)
☑️ Avient Corporation (US)
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