Thermoplastic Vulcanizate Industry Analysis in South Asia & Oceania

Study on Thermoplastic Vulcanizates in South Asia & Oceania by Natural, Standard Black, and Pre-Colored for Automotive, Construction, Consumer Goods, Electronics, and Healthcare from 2024 to 2034

Analysis of Thermoplastic Vulcanizate Industry Covering Countries Includes Analysis of India, Indonesia, Malaysia, Thailand, Australia, New Zealand, and Rest of SA.

Thermoplastic Vulcanizate Sales Outlook for South Asia & Oceania (2024 to 2034)

Sales of thermoplastic vulcanizates in South Asia & Oceania are estimated at US$ 308.2 million in 2024. The South Asia & Oceania market is forecasted to expand at a high-value CAGR of 7.3% and reach US$ 623.49 million by 2034.

Thermoplastic vulcanizate (TPV) is a type of thermoplastic elastomer (TPE) that combines the characteristics of thermoplastics and vulcanized rubber. Thermoplastic vulcanizates are created through a dynamic vulcanization process, where a rubber phase is dispersed in a thermoplastic matrix. This combination results in a material that possesses the flexibility and resilience of rubber, along with the processability and recyclability of thermoplastics.

These properties make thermoplastic vulcanizates suitable for use in various industries, including automotive, consumer goods, industrial, and electrical applications. Common applications include automotive weather seals, grips, gaskets, and other components where a balance of rubber-like performance and thermoplastic processing benefits is desirable.

  • Demand for natural thermoplastic vulcanizates in South Asia & Oceania is calculated at a market value of US$ 129.5 million for 2024 and is foreseen to increase at a CAGR of 7.9% from 2024 to 2034.

Growing trend toward sustainable and eco-friendly materials is driving demand for natural thermoplastic vulcanizates in South Asia & Oceania. Natural thermoplastic vulcanizates, which incorporate renewable resources or have improved biodegradability, align with this trend. In regions such as South Asia & Oceania, where environmental consciousness is increasing, the demand for such sustainable materials is also expected to exhibit high growth.

Report Attributes Details
Thermoplastic Vulcanizate Sales in South Asia & Oceania (2024E) US$ 308.2 Million
Forecasted Sales (2034F) US$ 623.49 Million
Demand Growth (2024 to 2034) 7.3% CAGR
Pre-Colored Thermoplastic Vulcanizate Demand Growth (2024 to 2034) 7% CAGR
Key Companies Profiled
  • ExxonMobil Corporation
  • JSR Corporation
  • Mitsui Chemicals, Inc.

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What’s Pushing Consumption of Thermoplastic Vulcanizate in South Asia & Oceania?

“Rapid Growth in Industrial Activities Boosting Thermoplastic Vulcanizate Demand”

Rapid industrialization in South Asia & Oceania is playing a pivotal role in driving the consumption of thermoplastic vulcanizates (TPVs). As the South Asia & Oceania countries are experiencing rapid economic growth and development, there is a substantial increase in industrial activities across various sectors. This surge in industrialization stems from factors such as urbanization, population growth, and increasing foreign direct investment. Notably, the construction, manufacturing, and infrastructure development sectors are witnessing significant expansion, thereby fueling the demand for thermoplastic vulcanizates.

In the construction sector, TPVs find applications in a variety of products such as seals, gaskets, roofing materials, and pipes. The flexibility, durability, and weather resistance of thermoplastic vulcanizates makes them a prime choice for construction materials, contributing to the robust demand in this sector. Rapid urbanization and infrastructural development projects are increasing the need for high-performance materials such as thermoplastic vulcanizates to ensure the longevity and reliability of construction components.

Similarly, in the manufacturing sector, thermoplastic vulcanizates play a crucial role in the production of diverse industrial goods. The versatility of thermoplastic vulcanizates allows manufacturers to tailor the material properties according to specific industrial requirements. This adaptability makes them suitable for various manufacturing applications, including automotive components, industrial seals, and machinery parts. As manufacturing activities escalate in response to growing consumer demands, the sales of thermoplastic vulcanizates as a reliable and efficient material choice are set to rise.

Country-wise Analysis

What Makes India a Key Market for Thermoplastic Vulcanizates?

“Automotive Boom Fuelling Use of Thermoplastic Vulcanizates”

Attribute India
Market Value (2024E) US$ 129.5 Million
Growth Rate (2024 to 2034) 8% CAGR
Projected Value (2034F) US$ 279.58 Million

India's rapidly growing automotive industry is majorly driving the sales of thermoplastic vulcanizates (TPVs). TPVs are extensively used in the automotive sector for applications such as weather seals, gaskets, and interior components. With the increasing demand for vehicles, especially in the two-wheeler and passenger car segments in India are boosting the need for high-performance and durable materials such as thermoplastic vulcanizates.

How Fast is Demand for Thermoplastic Vulcanizates Expanding in Thailand?

“Increasing Construction Activities Driving Consumption of High-Performance Thermoplastic Vulcanizates”

Attribute Thailand
Market Value (2024E) US$ 36.4 Million
Growth Rate (2024 to 2034) 7.3% CAGR
Projected Value (2034F) US$ 73.64 Million

Infrastructure development projects in Thailand are fuelling the demand for thermoplastic vulcanizates in construction applications. TPVs are utilized in infrastructure projects for their suitability in roofing materials, seals, and pipes. The respective government's focus on infrastructure development is aiding the overall market growth.

Will Indonesia Be an Investment Worthy Market for TPV Manufacturers?

“Growing Manufacturing Sector Generating Profitable Opportunities for Thermoplastic Vulcanizate Suppliers”

Attribute Indonesia
Market Value (2024E) US$ 32.2 Million
Growth Rate (2024 to 2034) 6.6% CAGR
Projected Value (2034F) US$ 61.01 Million

Indonesia's expanding manufacturing sector is a key factor boosting thermoplastic vulcanizate sales. The use of TPVs in manufacturing applications, such as industrial components and consumer goods, is driven by the need for materials offering a combination of rubber-like elasticity and thermoplastic processing advantages. Consumer goods, ranging from electronics to footwear majorly use thermoplastic vulcanizates.

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Category-wise Analysis

Which End-Use Industry Accounts for High Application of Thermoplastic Vulcanizates?

“Lightweight, Durability, and Weather Resistance Properties Fuelling Consumption of TPV in Automotive Manufacturing”

Attribute Automotive
Segment Value (2024E) US$ 162.3 Million
Growth Rate (2024 to 2034) 7.9% CAGR
Projected Value (2034F) US$ 347.16 Million

Thermoplastic vulcanizates are inherently lightweight materials, making them particularly attractive for the automotive sector. As automotive manufacturers strive to enhance fuel efficiency and reduce overall vehicle weight to meet stringent emissions standards, thermoplastic vulcanizates provide an excellent solution. Their lightweight nature is contributing to improved fuel economy without compromising on performance.

Automotive applications also demand materials that can withstand harsh environmental conditions. Thermoplastic vulcanizates exhibit excellent durability and weather resistance, making them suitable for exterior components exposed to varying temperatures, UV radiation, and other environmental factors. All the above-mentioned aspects are increasing the use of thermoplastic vulcanizates in automotive component manufacturing.

Competitive Landscape

Key players in the South Asia & Oceania market are consistently investing in research and development initiatives to produce advanced thermoplastic vulcanizates. They are also establishing partnerships and collaborations with other industry players, automotive manufacturers, or suppliers to broaden their market reach and profits.

Leading companies often expand their market presence by entering new geographical regions. Exploring opportunities in emerging markets within South Asia, Oceania, and other regions across the globe is aiding companies to tap into new customer bases and boost sales.

Know thy Competitors

Competitive landscape highlights only certain players
Complete list available upon request

Segmentation of Thermoplastic Vulcanizates Study in South Asia & Oceania

  • By Grade :

    • Natural
    • Standard Black
    • Pre-Colored
    • Others
  • By Processing Method :

    • Injection Molding
    • Extrusion Molding
    • Blow Molding
    • Others
  • By Application :

    • Automotive
      • Exteriors
        • Door Trims
        • Weather Seals
        • Mudguards
        • Air Intake Hoses
        • Door Cushion Rubbers
        • Glass Run Channels
        • Others
      • Interiors
        • Dashboard Skin
        • Airbag Covers
        • Console Box Liners
        • Seat Backboards
        • Under the Hoods
        • Shift Grips
        • Armrest Covers
        • Assist Grips
        • Others
    • Construction & Architecture
      • Interiors
      • Exteriors
    • Consumer Goods
      • Sporting Goods
      • Kitchen Appliances
      • Others
    • Electric & Electronics
      • Wire & Cable Insulation
      • Plugs
      • Bushings
      • Connectors
      • Others
    • Medical & Healthcare
      • Syringe Tips
      • Peristaltic Tubes
      • Medical Device Components
        • O-rings
        • Seals
        • Gaskets
        • Valves
        • Others
  • By Country :

    • India
    • Indonesia
    • Malaysia
    • Thailand
    • Australia & New Zealand
    • Rest of SA

- FAQs -

How big is the size of the South Asia & Oceania market in 2024?

Sales of thermoplastic vulcanizates in SAO are evaluated at US$ 308.2 million in 2024.

What are the projected sales for thermoplastic vulcanizates by 2034?

The South Asia & Oceania market is projected to reach US$ 623.49 million by 2034.

What is the estimated CAGR for the South Asia & Oceania market?

Demand for thermoplastic vulcanizates is forecasted to increase at a CAGR of 7.3% from 2024 to 2034.

At what rate are the sales of thermoplastic vulcanizates set to increase in Australia?

Thermoplastic vulcanizate sales in Australia are foreseen to rise at a CAGR of 7.1% through 2034.

Which type of thermoplastic vulcanizate is widely popular?

Sales of natural thermoplastic vulcanizates are forecasted to reach US$ 277 million by 2034.

Which industry is a key consumer of thermoplastic vulcanizates?

Demand for thermoplastic vulcanizates in automotive manufacturing is projected to rise at a CAGR of 7.9%.

Thermoplastic Vulcanizate Industry Analysis in South Asia & Oceania

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