THERMOPLASTIC VULCANIZATES MARKET Strategic Assessment Of Evolving Technology, Growth Analysis, Scope And Forecast To 2025
Thermoplastic Vulcanizates Market (TPVs) are mechanically compounded mixtures of a polyolefin (usually polypropylene)and an elastomer (specialty elastomers or EPDM) that is vulcanized during the process. TPVs are widely used to modify the properties of rigid thermoplastics, usually improving impact strength. Major applications of TPVs are in automotive, industrial, consumers, electrical, and hoses & tubing.
The global demand for TPV Market is anticipated to grow between 4-5% since 2005. The market witnessed a decline during the economic recession but bounced back to growth in 2010. As of 2017, North America constituted the largest regional market accounting for around 40% of the market. Asia-Pacific was the second-largest market followed by Western Europe.
The greatest growth potential for TPOs and TPVs in automotive uses will be in replacing PVC for many interior applications including instrument panel covers, armrests and steering wheels. Although TPVs are more expensive on a weight basis than EPDM or other thermoset rubbers, lower processing cost means that TPV products are cheaper. TPVs are also lighter requiring only one-third the amount that would be required of the EPDM blended. TPVs have good properties as weather seals in automotive applications.
The automotive industry is the largest TPV market at a global level. The market is likely to grow on account of continued use in the automotive industry for under the hood applications for passenger cars and trucks.
In addition to their ability to withstand minor impacts, Olefinic thermoplastic elastomers are used for automotive applications as a result of the cost,recyclability during fabrication, environmental image, low specific gravity, wide range of stiffness’s available, excellent outdoor weather ability and fade resistance, colorability and attractive impact performance over a wide temperature range. The shifting of automotive production from Western Europe to other low-cost regions in Asia has pushed regional demand, especially in China.
For More Report :- https://prismaneconsulting.com/reports
