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The Europe Thermoplastic Vulcanizate Market was valued at US$ 1377.70 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 2020-2027. An upsurge in the adoption of thermoplastic vulcanizate in the making of riser tubes, general seals, flapper valves, deck plate seals and plumping parts for portable water applications also drives the market for Europe Thermoplastic Vulcanizate Market.
Europe Thermoplastic Vulcanizate Market (TPV) is a fascinating material, essentially a blend where tiny rubber particles are spread throughout a thermoplastic base. This clever combination gives TPV the best of both worlds: the resilience of vulcanized rubber and the easy processability of thermoplastics. A common TPV recipe involves roughly two parts ethylene propylene diene monomer (EPDM) rubber and one part impact polypropylene. However, the specific ingredients can be adjusted, using combinations like polypropylene with natural rubber or polypropylene with ethylene-octene copolymers, among others.
What makes TPV so useful? It boasts a wide spectrum of hardness, exceptional resistance to bending and flexing (flex fatigue), high impact strength, and impressive resistance to harsh chemicals like acids, bases, and water-based solutions. Its adaptability in manufacturing and ease of processing make it ideal for applications demanding both durability and light weight, such as in the automotive and construction sectors. In fact, the growing need for lighter, high-performing materials in the car industry is a significant driver for the increased use of Europe Thermoplastic Vulcanizate Market.
However, the COVID-19 pandemic has cast a shadow over the Europe Thermoplastic Vulcanizate Market. Data indicates that Russia has been particularly affected by high case numbers. Furthermore, major European economies like France, the UK, Italy, Spain, and Germany have also suffered considerably and are bracing for economic repercussions due to revenue losses across various industries. The widespread implementation of strict measures and travel restrictions, including partial border closures in several member states, is expected to hinder market expansion in Europe.
Understanding the nuances of the Europe Thermoplastic Vulcanizate Market for TPV is crucial. The "geographic scope" refers to the specific regions where businesses operate and compete. Success in this diverse landscape requires acknowledging local differences. This includes understanding varying consumer preferences (for example, specific requirements in the automotive sector), diverse economic conditions across countries, and the complex web of regulations. By grasping these local distinctions, businesses can tailor their strategies effectively. This might involve identifying untapped markets or modifying product offerings to meet specific local needs. A focused market approach allows for more efficient use of resources, targeted marketing efforts, and a stronger competitive stance against local players, ultimately fostering growth within those specific European regions.
Europe Thermoplastic Vulcanizate Market Segmentation
Europe Thermoplastic Vulcanizate Market By End-Use Industry
Automotive
Building & Construction
Consumer Goods
Healthcare
Others
Europe Thermoplastic Vulcanizate Market By Country
Germany
UK
Italy
Russia
France
Rest of Europe
Europe Thermoplastic Vulcanizate Market Company Profiles
Alphagary
Exxon Mobil Corporation
Celanese Corporation
Kumho Polychem
Mitsubishi Chemical Corporation
Mitsui Chemicals, Inc.
Ravago
Teknor Apex Company, Inc.
Trinseo LLC
Zeon Chemicals L.P.
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About Us:
Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications.
Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights
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