TPV: Key market research findings
- Technological developments towards offering novel TPV
- Increase in demand from the automotive industry
Technavio has released a new market research report on the global TPV market, which is expected to grow at a CAGR of around 7% between 2015 and 2019. 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 it an ideal choice for the manufacturing of blood bags, catheters and disposable gloves. The Americas lead the global market for TPV, accounting for around 41% of the total market share. The increasing replacement of traditional heavy materials, such as natural and synthetic rubber, by lighter TPV, is driving the market in this region.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Of late, the manufacturers are coming up with various innovations in polymers that are more functional, cost-effective, and sustainable. They are making huge investments in developing advanced TPV raw material processing techniques such as electron induced reactive processing. Vendors have introduced novel varieties of advanced TPV, including olefin-based copolymers TPV, and an advanced polypropylene, PDMS, and polyamide-based TPV,” says Sriram Mohan, Lead Analyst, Chemicals & Materials, Technavio Research.
Automotive industry is one of the primary users of TPV especially in its manufacturing process, owing to its high strength-to-weight ratio, simplified part fabrication, and superior resistance to heat and chemicals. Manufactures prefer TPV because it offers increased design flexibility, light-weight and improved long-term weather-resistance advantages.
The leading vendors in the global TPV market include Dynasol, DuPont, ExxonMobil, PolyOne and LCY. The market is highly fragmented with the five key players accounting for around 40% of the market in terms of capacity. Vendors in this market compete on the basis of innovation, quality and performance, price, and brand image
A more detailed analysis is available in the Technavio report, Global TPV Market 2015-2019.
We can customize reports by other regions and specific segments upon request.
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