Dublin, Aug. 14, 2024 (GLOBE NEWSWIRE) — The “Southeast Asia Thermoplastic Vulcanizates Market Size, Share and Trends Analysis Report: End Use (Automotive, Building & Construction, Consumer Goods), Country (Thailand, Indonesia, Vietnam), and Segment Forecast, 2024-2030” report has been added to ResearchAndMarkets.com.
The thermoplastic vulcanizate market in Southeast Asia is expected to reach US$50.07 million by 2030, expanding at a CAGR of 8.2%.
The market growth is primarily driven by increasing demand for products from key industries such as automotive, electrical and electronics, and building and construction in emerging economies such as Thailand and the Philippines.
Additionally, the increasing demand for high-performance, lightweight vehicles and durable electronics is driving the demand for thermoplastic vulcanizates (TPVs) in these industries. With significant penetration in this region, TPVs offer better flexibility and durability than other thermoplastic elastomers.
Unlike conventional TPV, bio-based TPV does not take hundreds of years to degrade in the environment. The accumulation of plastics and increased recycling and reuse are major concerns for local governments. Increasing concerns regarding the environmental impact of the products they purchase, their recyclability, and decomposition time in landfills are expected to positively impact the growth of the bio-based thermoplastic vulcanizates market during the forecast period.
Southeast Asia Thermoplastic Vulcanizates Market Report Highlights
In 2023, automotive dominated the supply segment with a share of over 52.77%. This is due to the growing demand for lightweight, high-performance materials such as TPVs, which are an alternative to traditional rubber and help reduce the overall vehicle weight. The building and construction segment is expected to grow at a significant CAGR of 8.3% during the forecast period. The market is expected to benefit from rising construction spending and growing consumer inclination towards sustainable and lightweight building materials over traditional materials. TPVs are increasingly being used as an alternative to thermoset rubbers such as SBR, EPDM, and chlorosulfonated polyethylene due to their reliability, safety, low maintenance, and low manufacturing costs for parts. In the automotive sector, they are used in applications such as windshields, sunroofs, and roofline weather seals. Indonesia dominated the market with the highest revenue share in 2023, owing to ongoing urbanization and rising disposable income. The growth of the industry in the country is expected to contribute to the demand for TPVs, which are used in the development of several electronic devices and consumer appliances.
Featured Companies
Dow Chemical ThaiAPAR IndustriesKK Kopounding Tech Giant LimitedElkem ASATeknor ApexMT PLAS (M) SDN BHDElastron TPEPreeco Engineering Sdn BhdMCPP INDONESIANexeo Plastics, LLC
Key attributes:
Report AttributesDetailsNumber of Pages75Forecast Period2023 – 2030Estimated Market Value in 2023 (USD)$29.36 millionForecasted Market Value to 2030 (USD)$50.07 millionCAGR8.2%Target RegionAsia-Pacific
Key topics:
Chapter 1. Methodology and Scope
1.1. Market Segmentation and Scope
1.2. Market definition
1.3. Information procurement
1.4. Information Analysis
1.5. Market Shaping and Data Visualization
1.6. Data Verification and Publication
Chapter 2 Overview
2.1. Market Snapshot
2.2. Segment Snapshots
2.3. Competitive Landscape Snapshot
Chapter 3. Southeast Asia Thermoplastic Vulcanizate (TPV) Market Variables, Trends and Scope
3.1. Market System Outlook
3.1.1. Parent market outlook
3.1.2. Related market outlook
3.2. Industry Value Chain Analysis
3.2.1. Distribution Channel Analysis
3.2.2. Raw material trends
Technical Overview
3.3. Regulatory Framework
3.4. Market Trends
3.4.1. Market Driver Analysis
3.4.2. Market restraint analysis
3.4.3. Industry Challenges
3.4.4. Industry Opportunities
3.5. Industry Analysis Tools
3.5.1. Porter's Five Forces Analysis
3.5.2. Macro environment analysis
Chapter 4. Southeast Asian Thermoplastic Vulcanizate (TPV) Market: End-use Estimation and Trend Analysis
4.1. End-use trends analysis and market share, 2023 and 2030
4.2. Southeast Asia Thermoplastic Vulcanizate (TPV) Market Estimate and Forecast, by End Use, 2018-2030 (Tons) (Thousand USD)
4.3. Automobiles
4.3.1. Automotive market revenue estimates and forecasts, 2018-2030 (Tons) (US$ Thousand)
4.4. Architecture and Construction
4.5. Consumer Goods
4.6. Medical
4.7. Fluid Processing
Chapter 5. Southeast Asian Thermoplastic Vulcanizate (TPV) Market: Country Estimates and Trend Analysis
5.1. Country Trend Analysis and Market Share, 2023 and 2030
5.2. Southeast Asia
5.2.1. Southeast Asia Thermoplastic Vulcanizate (TPV) Market Estimates and Forecast, 2018-2030 (Tons) (US$ Thousand)
Thailand
5.2.2.1. Trends in major countries
5.2.2.2. Thailand Thermoplastic Vulcanizate (TPV) Market Estimates and Forecast, 2018-2030 (Tons) (US$ Thousand)
Indonesia
Vietnam
Philippines
Malaysia
6. Southeast Asian Thermoplastic Vulcanizates (TPV) Market-Competitive Environment
6.1. Recent developments and impact analysis by major market participants
6.2. Company Classification
6.3. Company Market Share/Position Analysis, 2023
6.4. Company Heatmap Analysis
6.5. Strategy Mapping
Extensions
6.5.2. Mergers and Acquisitions
6.5.3. Partnerships and collaborations
6.5.4. New Product Launches
Research and Development
6.6. Company Profile
6.6.1. Participant Profile
6.6.2. Financial performance
6.6.3. Product Benchmarks
6.6.4. Recent developments
For more information on this report, please visit: https://www.researchandmarkets.com/r/72lvon
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Southeast Asia Thermoplastic Vulcanizates Market
