Thermoplastic vulcanizates (TPV) market to grow at 7% till 2019

21-Jan-16

The thermoplastic vulcanizates (TPV) market is predicted to grow at a rate of around 7%, until 2019, as per Technavio market research. The rising adoption of TPV as a replacement for PVC in the healthcare sector is the primary driver for the growth of this market. TPV™s unique characteristics such as environment-friendliness, low drug absorption, toughness, and optical clarity have made them an ideal choice for the manufacturing of blood bags, catheters and disposable gloves. For instance, Johnson & Johnson and GE Healthcare, having increased their R&D spending to develop and introduce new TPV-based medical products in the market. The growing popularity of olefin-based copolymer TPV is also anticipated to contribute to the market growth during the forecast period. Olefin-based copolymer TPV has a high abrasion resistance and is being used to replace traditional styrenic thermoplastic elastomers (TPE) in its commercial and industrial applications. Segmentation by application and analysis of - automotive, medical, consumer goods, fluid handling During 2014, the automotive sector led the market with a share of 51%. The rising adoption of TPV as a replacement for traditional rubber and EPDM in this sector is the primary driver for the growth of this segment. TPV is used in interior and exterior ancillaries, sealing systems, and under-the-hood components of automobiles. • Automotive • Fluid handling and construction • Medical • Consumer goods The Americas accounted for around 41% of the market share during 2014. The report predicts this region to maintain its leadership until the end of 2019, growing at a rate of 7%. The increasing replacement of traditional heavy materials, such as natural and synthetic rubber, by lighter TPV, is driving the market in this region.