Technavio’s latest report on global thermoplastic
vulcanizates market provides an analysis of the key trends
expected to impact the global thermoplatic vulcanizates (TPV)
market through 2015-2019. Technavio defines an emerging
trend as a factor that has the potential to significantly impact
the market and contribute to its growth or decline.
The global TPV market is expected to grow at a CAGR of over 6%
during the forecast period and is expected to exceed USD 1 billion
by 2019. Technavio expects the global TPV market to witness
significant growth during the forecast period, because of its
increasing application in the construction and
transportation industries to replace PVC, and natural and
synthetic rubber, respectively.
TPV is being preferred over the aforementioned traditional
materials because of its superior chemical and abrasion-resistance
characteristics. Additionally, TPV can be remolded, reshaped, and
recycled, making it the perfect replacement for traditional
thermoplastics, such as polyethylene and polypropylene in major
end-use industries.
Debasish Nayak, lead analyst for speciality chemicals
industry at Technavio says, “Increasing use of TPV as a replacement
for non-environment friendly PVC, in the rapidly growing
construction and infrastructure industries in APAC, will further
fuel the growth of the market.”
The top four emerging trends in the global TPV market according
to Technavio’s chemicals and materials research analysts
are:
Development of novel TPV
The growing competition in the TPV market in recent years has
exerted pressure on manufacturers to add value to their product
offerings through increased investment in R&D. This has
resulted in new product innovations with polymers that are more
functional, cost-effective, and sustainable, thereby enabling the
key players in the market to differentiate their products through
enhanced performance.
In addition, the prevailing stringent environmental regulations
and the price-sensitivity of end-users have forced manufacturers to
widen their product portfolios through increased investments in TPV
capacity, and development of advanced TPV raw material processing
techniques, such as electron-induced reactive processing.
In recent years, major TPV manufacturers, such as PolyOne,
ExxonMobil, and Dow, have been able to develop novel varieties of
advanced TPV. This trend is expected to continue during the
forecast period.
Incorporation of soft-touch TPV in consumer electronics and
appliances
The rapid increase in global demand for consumer electronics and
appliances with soft-touch and ergonomic design has forced consumer
product manufacturers to incorporate TPV into their products.
As a result, TPV is now being used in the production of various
products in the consumer goods market, including soft grips for
beer crates, food storage seals, and functional elements for
toothbrushes, shavers, hairbrushes, and other consumer goods. They
are also being used to improve the consumer-friendliness and grip
characteristics of hand and power tools.
Growing popularity of olefin-based copolymer TPV
The development and introduction of olefin-based copolymer TPV
by major thermoplastic manufacturers, such as Dow Chemicals and
PolyOne, in the international market in recent years, is making it
difficult for the styrenic TPE manufacturers to maintain their
market share.
Olefin-based copolymer TPV is becoming popular due to various
attributes such as improved performance, varied applications and
cost effectiveness.
Dow Chemical manufactures and supplies olefin-based copolymer
TPV under the trade name Infuse, while PolyOne markets it under the
name Elastamax.
Increased use in BRIC nations
As a result of the significant economic and industrial
developments in the BRIC nations in recent years, the demand for
TPV from these emerging economies has increased at a tremendous
rate.
The cost-effectiveness of the material along with the ease of
availability, is making the material an obvious choice for
compounding and adhesive applications. In terms of demand, China,
led the global market in 2014, owing to its budding construction
and medical industries. On the other hand, the demand for TPV in
the Indian sub-continent has benefited hugely from the tremendous
growth in the automotive industry.
“The growth of the market will be further augmented in the
coming years by the increased adoption of TPV for manufacturing
roofing membranes in Russia and the rapid infrastructure
developments in Brazil, preceding the 2016 Olympic Games in Rio,”
says Debashish.
Some of the top vendors in the global TPV market, as researched
by Technavio analysts are:
- Dynasol
- DuPont
- PolyOne
- LCY
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Market 2015-2019
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Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS:
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