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North America Thermoplastic Vulcanizate Market Forecast to 2027 – COVID-19 Impact and North America Analysis – By End-Use, and Country

ReportLinker
·3-min read

The North America thermoplastic vulcanizate market was valued at US$ 659. 21 million in 2019 and is projected to reach US$ 1,048. 92 million by 2027; it is expected to grow at a CAGR of 6. 1% during the forecast period.

New York, March 04, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Thermoplastic Vulcanizate Market Forecast to 2027 – COVID-19 Impact and North America Analysis – By End-Use, and Country" - https://www.reportlinker.com/p06027850/?utm_source=GNW


Thermoplastic vulcanizate (TPV) is a mixture of rubber particles distributed in a thermoplastic matrix.Therefore, TPV has mixed properties, including the characteristics of the vulcanized rubber elastomer as well as the handling properties of the thermoplastic material.

Typical TPV contains approximately two-thirds of ethylene propylene diene monomer and one-third of impact polypropylene.This mixture of raw materials can also differ, such as polypropylene with natural rubber, polypropylene and ethylene-octene copolymers, and others.

These materials have a wide range of hardness, excellent flex fatigue, high impact resistance, and superior resistance to acids, bases, and aqueous media.Due to its manufacturing versatility and ease of processing, TPV is used in applications requiring durability and lightweight characteristics, such as in vehicles, construction, and others.

The increasing demand for lightweight and high-performance materials in the automotive industry is expected to fuel the demand for thermoplastic vulcanizations (TPVs) during the forecast period.

Based on end-use industry, the North America thermoplastic vulcanizate market is segmented into automotive, building & construction, consumer goods, healthcare, and others. In 2019, the automotive segment dominated the North America thermoplastic vulcanizate market.

Geographically, the North America thermoplastic vulcanizate market is segmented into the US, Canada, Mexico.The US contributed to the largest share of the North America thermoplastic vulcanizate market.

The US is the world’s second-largest market for vehicle sales and production.Additionally, the anticipated to drive the demand for thermoplastic vulcanizate (TPV) in the US.

An upsurge in the need for manufacturing lightweight interiors and exteriors such as wiper systems, air guides, spoilers, cup holders, and trims drive the growth of thermoplastic vulcanizate market in the country.The use of thermoplastic vulcanizate in numerous fluid handling applications in building & construction and other industries owing to its enhanced seal and weathering resistance supports the market growth.

An upsurge in the use of thermoplastic vulcanizate as an alternative to alloys and metals along with the rising production of passenger car are expected to boost the growth of the market in the US in the near future.

Mitsui Chemicals, Inc.; Celanese Corporation; Mitsubishi Chemical Corporation; Kumho Polychem; Trinseo; Teknor Apex; ExxonMobil; Zeon Chemicals L.P.; Alphagary; and Ravago are among the major players present in the North America thermoplastic vulcanizate market.

Impact of COVID-19 Pandemic on Thermoplastic Vulcanizate Market

The US has the highest number of confirmed cases of COVID-19 compared to Mexico and Canada.This is likely to negatively impact the supply chain of chemical and materials industry.

In addition, the overall manufacturing processes, research, and development activities will also impact market growth.

Overall size of the North America thermoplastic vulcanizate market has been derived in accordance to primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the thermoplastic vulcanizate market.
Read the full report: https://www.reportlinker.com/p06027850/?utm_source=GNW

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