Western Europe Thermoplastic Vulcanizates (TPV’s) Market

Western Europe Thermoplastic Vulcanizates (TPV’s) Market

Thermoplastic Elastomers (TPE’s) have physical properties like rubber but can be processed like plastic. TPE’s can be melted,cooled, molded and deformed just like plastics and therefore used in many automotive and Industrial applications. Thermoplastic Vulcanizates are manufactured by blending rubbers like EPDM, SBS, EPR, butyl rubber and Polybutadiene(BR) with thermoplastic matrix. Generally, TPV’s contain a blend of EPDM and Polypropylene which gives it a thermoplastic characteristic with low to moderate level of cross-linking. TPV’s continue to replace the standard thermosetting rubber in auto parts such as seals and gaskets. The consumption of TPV’s in Western Europe was around 49 Kilo tons in 2018. The demand growth for TPV’s in the region is forecast to grow at a CAGR of 3.3% during 2019-2025.

Western European TPV demand by Application – 2005-2025

The automotive application dominates the thermoplastic vulcanizates consumption in the Europe as majority of the TPV demand comes from Germany which has around 40 OEM plants and numerous car production facilities. Automotive accounted for a share of 53% in 2018 and is expected to hold its position in long term forecast till 2030. Typical automotive applications include but are not limited to seals, gaskets,vibration dampeners, duct covers, hose coverings, bushings, window seals and strut covers.

Demand for TPV’s in Automotive Applications – 2018 (26.1 Kilo Tons)

Consumer appliances and Industrial application account for a share of 15% and 9 % respectively and both are expected to grow at a CAGR of 3.5% in forecast period till 2025. Most of the Industrial demand for TPV’s is consumed by roofing application while consumer applications are quiet fragmented. Hose& Tubing and Electrical applications account for a considerable share of 10% and 8% respectively.

Western European TPV Consumption, By Application – 2018 (49 Kilo Tons)

The growth prospects for TPV’s globally include the inter segment substitution of other Elastomers like EPDM on account of lower cost (10-30%less) and better resistance to chemicals and weather. Automotive application remains the fastest growing application for TPV’s in the long term forecast.

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