The Thermoplastic Vulcanizate (TPV) Market size is expected to grow from 417.05 kilotons in 2023 to 558.11 kilotons by 2028, at a CAGR of 6% during the forecast period (2023-2028).
The COVID-19 pandemic disrupted the thermoplastic vulcanizate market, resulting in a reduction in supply due to transportation restrictions and a decline in demand from various sectors. Nonetheless, the market rebounded in 2022 due to increased demand from the automotive, building, and construction industries.
The thermoplastic vulcanizate (TPV) market is consolidated, with the top players accounting for around 70% of the market share. The major companies (in no particular order) include Exxon Mobil Corporation, Mitsui Chemicals Inc., Teknor Apex, Dawn Group, and KUMHO POLYCHEM.
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