The Europe thermoplastic vulcanizate market was valued at US$ 377. 70 million in 2019 and is projected to reach US$ 592. 51 million by 2027; it is expected to grow at a CAGR of 5. 9% during the forecast period.
New York, April 07, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe Thermoplastic Vulcanizate Market Forecast to 2027 – COVID-19 Impact and Europe Analysis – By End-Use, and Country" - https://www.reportlinker.com/p06027805/?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 demand for thermoplastic vulcanizations (TPVs) during the forecast period.
Based on end-use industry, the Europe thermoplastic vulcanizate market is segmented into automotive, building & construction, consumer goods, healthcare, and others. In 2019, the automotive segment dominated the Europe thermoplastic vulcanizate market.
Geographically, the Europe thermoplastic vulcanizate market is segmented into the Germany, the UK, France, Italy, Russia, and Rest of Europe.Germany contributed to the largest share of the Europe thermoplastic vulcanizate market.
The evolving automotive industry in Germany fuels the demand for thermoplastic vulcanizate in the country.An upsurge in the application of thermoplastic vulcanizate as a rubber replacement in the healthcare industry acts as a major opportunity for the market to grow.
An upsurge in the need for lightweight materials with superlative properties from various industries such as consumer goods, healthcare, and electronics is positively impacting the market growth. Various initiatives undertaken by the manufacturers to provide innovative thermoplastic vulcanizate with enhanced properties is expected to support the growth of the thermoplastic vulcanizate market in the region.
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 Europe thermoplastic vulcanizate market.
Impact of COVID-19 Pandemic on Thermoplastic Vulcanizate Market
As per the recent data, Russia has recorded the highest number of COVID cases in Europe.Additionally, France, the UK, Italy, Spain, and Germany have also been hit hard and are expected to suffer an economic hit due to a lack of revenue from various industries.
Other member states have implemented drastic measures and travel restrictions, to mitigate the spread of COVID-19. This is anticipated to negatively impact the market growth in Europe.
Overall size of the Europe 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/p06027805/?utm_source=GNW
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