Dublin, Jan. 22, 2024 (GLOBE NEWSWIRE) -- The "China Thermoplastic Vulcanizates Market Size, Share & Trends Analysis Report By Application (Automotive, Fluid Handling, Consumer Goods, Medical Devices), By Grade (General Purpose, Molding & Extrusion, Specialty), And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The China thermoplastic vulcanizates market is anticipated to reach USD 839.9 million by 2030, expanding at a CAGR of 11.4% from 2023 to 2030. Increasing thermoplastic vulcanizates (TPV) demand in automotive component production is anticipated to remain the key driving factor for regional market growth over the forecast period.
Increasing policy formulation by environmental protection agencies and governments across the globe to reduce carbon emission through improved fuel efficiency has compelled manufacturers to inculcate plastics as substitute alloys and metal in major automotive applications.
Rising consumer predilection for advanced and light weight passenger cars is expected to drive innovation and R&D in the regional automotive industry. Such factors have driven polymer consumption in automotive applications and are anticipated to fuel TPV demand.
However, thermoplastic vulcanizates exhibit excellent physical and chemical properties in comparison to thermoset plastics, thus gaining preference in terms of their application consumption.
It further finds application in end-use industries such as industrial, electronics and construction. Increasing usage as a replacement for non-environment friendly PVC coupled with rising construction spending in the country is anticipated to fuel growth over the forecast period.
China Thermoplastic Vulcanizates Market Report Highlights
- The automotive segment accounted for the largest revenue share of 62.3% in 2022. It is widely used in automotive seals, dust covers, air intake systems & ducts, pass-thru seals, and cooler hoses among other components.
- The medical devices segment is expected to grow at the fastest CAGR of 12.1% during the forecast period. This is due to the wide range of applications of TPV in the medical device sector.
- The molding & extrusion segment accounted for the largest revenue share of 50.5% in 2022 and is expected to grow at the fastest CAGR of 11.5% during the forecast period.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 94 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $357.1 Million |
| Forecasted Market Value (USD) by 2030 | $839.9 Million |
| Compound Annual Growth Rate | 11.4% |
| Regions Covered | China |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.2.1. Application outlook
2.2.2. Grade outlook
2.3. Competitive Insights
Chapter 3. China Thermoplastic Vulcanizates Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Value Chain Analysis
3.4. Regulatory Framework
3.5. Market Dynamics
3.6. China Thermoplastic Vulcanizates Market Analysis Tools
3.6.1. Industry analysis - Porter's
3.6.2. PESTEL analysis
Chapter 4. Supplier Portfolio Analysis
4.1. List of Suppliers
4.2. Kraljic Matrix
4.3. Sourcing Best Practices
4.4. Negotiation Strategies
Chapter 5. China Thermoplastic Vulcanizates: Application Estimates & Trend Analysis
5.1. China Thermoplastic Vulcanizates Market: Key Takeaways
5.2. China Thermoplastic Vulcanizates Market: Movement & Market Share Analysis, 2022 & 2030
5.3. Automotive
5.4. Fluid Handling
5.5. Consumer Goods
5.6. Medical Devices
5.7. Others
Chapter 6. China Thermoplastic Vulcanizates: Grade Estimates & Trend Analysis
6.1. China Thermoplastic Vulcanizates Market: Key Takeaways
6.2. China Thermoplastic Vulcanizates Market: Movement & Market Share Analysis, 2022 & 2030
6.3. General Purpose
6.4. Molding & Extrusion
6.5. Specialty
Chapter 7. Competitive Landscape
7.1. Recent Developments & Impact Analysis, By Key Market Participants
7.2. Market Participant Categorization
- Exxon Mobil
- Teknor Apex
- RTP Company
- Mitsui Chemicals
- Nanjing Jinling Opta Polymer
- TSRC
For more information about this report visit https://www.researchandmarkets.com/r/9vsebv
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