Thermoplastic Vulcanizate Industry Analysis in East Asia
Study on Thermoplastic Vulcanizates in East Asia by Natural, Standard Black, and Pre-Colored Grade for Automotive, Construction, Consumer Goods, Electronics, and Healthcare from 2024 to 2034
Analysis of Thermoplastic Vulcanizate Industry Covering Countries Includes Analysis of China, Japan, and South Korea
Thermoplastic Vulcanizate Sales Outlook for East Asia (2024 to 2034)
Fact.MR, in its recently published market study, reveals that sales of thermoplastic vulcanizates (TPVs) in East Asia are projected to reach US$ 294.4 million in 2024, with the market projected to increase at 8% CAGR and reach US$ 636 million by the end of 2034.
East Asian countries are undergoing rapid manufacturing growth and industrialization. TPVs find applications in numerous industries, including consumer goods, electronics, construction, automotive, etc. With an expansion of these industries, a significant increase in the demand for thermoplastic vulcanizates is also experienced in the region.
Countries in the region are investing heavily in infrastructure development, such as utilities, buildings, and networks. TPVs find applications in construction for roofing membranes, insulation materials, and window seals owing to their longevity and weather resistance.
Growing environmental awareness along with the implementation of stringent regulations on materials utilized in the manufacturing sector is projected to lead to the rising preference for sustainable and eco-friendly materials, such as thermoplastic vulcanizates.
Countries in the region are adopting these materials to meet sustainability goals and comply with set regulations. Moreover, constant advancements in thermoplastic vulcanizate technology are projected to lead to improved processing capabilities, thus making TPVs an attractive option for application in end-use industries, such as automotive, manufacturing, etc.
| Report Attributes | Details |
|---|---|
| Thermoplastic Vulcanizate Sales in East Asia (2024E) | US$ 294.4 Million |
| Projected Sales (2034F) | US$ 636 Million |
| Demand Growth (2024 to 2034) | 8% CAGR |
| Sales in South Korea (2024E) | US$ 60.9 Million |
| Sales in China (2034F) | US$ 330 Million |
| Demand Growth for Natural Grade Thermoplastic Vulcanizates (2024 to 2034) | 8.3% CAGR |
| Market Share of Automotive Sector (2024E) | >56% |
| Key Companies Profiled | TSRC Corporation; Solvay S.A.; Kuraray Co., Ltd.; LCY Group; Asahi Kasei |
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Which Key Factors are Contributing to Increased Consumption of Thermoplastic Vulcanizates in East Asia?
“Expansion of Manufacturing Sector Driving Huge Demand for TPVs”
Growth of the manufacturing sector in East Asia is attributed to several factors, including technological innovation, high investments, and favorable government policies. Surging industrialization is forecasted to lead to a manifold increase in production capacities in multiple sectors. Thermoplastic vulcanizates are projected to emerge as one of the prominent materials in this context because of their remarkable applicability and versatility across numerous industries.
TPVs play a vital role in enhancing the longevity and performance of consumer goods. Industries ranging from footwear and sports equipment to household appliances leverage some unique properties of thermoplastic vulcanizates to deliver products, which excel in terms of resilience, flexibility, and durability. The burgeoning middle class in the region is estimated to contribute to surging demand for high-quality goods, thus contributing to the adoption of thermoplastic vulcanizates in several sectors.
Country-wise Insights
What Opportunities are Available for Thermoplastic Vulcanizate Suppliers in China?
“Noteworthy Expansion of Construction and Automotive Sectors”
| Attribute | China |
|---|---|
| Market Value (2024E) | US$ 157.1 Million |
| Growth Rate (2024 to 2034) | 7.7% CAGR |
| Projected Value (2034F) | US$ 330 Million |
Thermoplastic vulcanizates find application in numerous construction products, including roofing membranes, gaskets, and seals due to their flexibility and weather resistance.
Rapid infrastructure development and urbanization in China are projected to lead to the expansion of the construction sector, which further increases demand for TPVs. Moreover, rising production and demand for automobiles in China are anticipated to lead to growing sales of thermoplastic vulcanizates for numerous components, such as seals, gaskets, etc.
Why is Japan Projected an Attractive Market for Thermoplastic Vulcanizate Manufacturers?
“Growing Emphasis on Quality Improvement of Products”
| Attribute | Japan |
|---|---|
| Market Value (2024E) | US$ 76.4 Million |
| Growth Rate (2024 to 2034) | 8.6% CAGR |
| Projected Value (2034F) | US$ 174.4 Million |
Japan is well-known for its concentration on quality improvement and technological innovation. Thermoplastic vulcanizates offer advantages over conventional materials, based on recyclability, performance, and processing. Thus, manufacturers from different end-use industries, including automotive, construction, etc. in Japan are adopting TPVs to enhance the sustainability and performance of their products.
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Category-wise Insights
Which Method is Widely Preferred for Thermoplastic Vulcanizate Processing?
“Rising Use of Extrusion Molding Method Due to Cost-effectiveness”
| Attribute | Extrusion Molding |
|---|---|
| Segment Value (2024E) | US$ 177 Million |
| Growth Rate (2024 to 2034) | 7.9% CAGR |
| Projected Value (2034F) | US$ 378.7 Million |
Extrusion molding generally needs minimum expenditure on tools in comparison to other manufacturing methods, including injection molding. In addition, the continuous nature of this process helps minimize labor costs and material waste, therefore contributing to its overall pocket-friendly nature for thermoplastic vulcanizate production.
Why is There High Demand for Thermoplastic Vulcanizates in the Automotive Sector?
“Growing Adoption of Thermoplastic Vulcanizates for Aesthetic and Functional Benefits”
| Attribute | Automotive |
|---|---|
| Segment Value (2024E) | US$ 167.1 Million |
| Growth Rate (2024 to 2034) | 8.7% CAGR |
| Projected Value (2034F) | US$ 385 Million |
Thermoplastic vulcanizates find more application in the automotive sector in the exterior parts of vehicles for aesthetic, functional, and performance benefits. Effective heat and chemical resistance, good elasticity, and high durability of thermoplastic vulcanizates are projected to make them one of the most preferred materials for automobiles.
They are used in the production of numerous automobile parts, such as panel hole plugs, headlamp seals, gaskets, air inlet duct covers, vibration dampeners, etc. Further, the growing concentration of automobile manufacturers on decreasing carbon emissions is also leading to the adoption of components manufactured by TPVs.
Competition Landscape
Fact.MR, a market research and competitive intelligence provider, in its newly published market analysis, asserts that thermoplastic vulcanizate suppliers in East Asia are adopting various strategies to increase their profit share with the production of new products.
In addition, they are also concentrating on offering quality products and management of supply chain systems. Some of the leading manufacturers of thermoplastic vulcanizates in East Asia are TSRC Corporation, Solvay S.A., Kuraray Co., Ltd., LCY Group, and Asahi Kasei.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Segmentation of Thermoplastic Vulcanizate Study in East Asia
-
By Grade :
- Natural
- Standard Black
- Pre-Colored
- Others
-
By Processing Method :
- Injection Molding
- Extrusion Molding
- Blow Molding
-
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
- Armrest Covers
- Assist Grips
- Others
- Exteriors
- Construction & Architecture
- Exteriors
- Interiors
- Consumer Goods
- Sporting Goods
- Kitchen Appliances
- Others
- Electric & Electronics
- Wires & Cable Insulation
- Plugs
- Bushings
- Connectors
- Others
- Medical & Healthcare
- Syringe Tips
- Peristaltic Tubes
- Medical Device Components
- O-rings
- Seals
- Gaskets
- Valves
- Others
- Automotive
-
By Country :
- China
- Japan
- South Korea
Table of Content
- 1. East Asia Industry - Executive Summary
- 2. East Asia Industry Overview
- 3. Industry Background and Data Points
- 4. East Asia Industry Analysis 2018 to 2023 and Forecast, 2024 to 2034
- 5. East Asia Industry Analysis 2018 to 2023 and Forecast 2024 to 2034, By Grade
- 5.1. Natural
- 5.2. Standard Black
- 5.3. Pre-Colored
- 5.4. Others
- 6. East Asia Industry Analysis 2018 to 2023 and Forecast 2024 to 2034, by Processing Method
- 6.1. Injection Molding
- 6.2. Extrusion Molding
- 6.3. Blow Molding
- 6.4. Others
- 7. East Asia Industry Analysis 2018 to 2023 and Forecast 2024 to 2034, by Application
- 7.1. Automotive
- 7.2. Construction and Architecture
- 7.3. Consumer Goods
- 7.4. Electric & Electronics
- 7.5. Medical & Healthcare
- 8. East Asia Industry Analysis 2018 to 2023 and Forecast 2024 to 2034, by Country
- 8.1. China
- 8.2. Japan
- 8.3. South Korea
- 9. China Industry Analysis 2018 to 2023 and Forecast 2024 to 2034
- 10. Japan Industry Analysis 2018 to 2023 and Forecast 2024 to 2034
- 11. South Korea Industry Analysis 2018 to 2023 and Forecast 2024 to 2034
- 12. Industry Structure Analysis
- 13. Competition Analysis
- 13.1. TSRC Corporation
- 13.2. Solvay S.A.
- 13.3. Kuraray Co., Ltd.
- 13.4. LCY Group
- 13.5. Asahi Kasei
- 14. Assumptions and Acronyms Used
- 15. Research Methodology
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List Of Table
Table 01: East Asia Industry Value (US$ Mn) Analysis, by Grade, 2018 to 2023
Table 02: East Asia Industry Value (US$ Mn) Analysis, by Grade, 2024 to 2034
Table 03: East Asia Industry Value (US$ Mn) Opportunity Analysis, by Grade, 2024 to 2034
Table 04: East Asia Industry Value (US$ Mn) Analysis, by Processing Method, 2018 to 2023
Table 05: East Asia Industry Value (US$ Mn) Analysis, by Processing Method, 2024 to 2034
Table 06: East Asia Industry Value (US$ Mn) Opportunity Analysis, by Processing Method, 2024 to 2034
Table 07: East Asia Industry Value (US$ Mn) Analysis, by Application, 2018 to 2023
Table 08: East Asia Industry Value (US$ Mn) Analysis, by Application, 2024 to 2034
Table 09: East Asia Industry Value (US$ Mn) Opportunity Analysis, by Application, 2024 to 2034
Table 10: East Asia Industry Value (US$ Mn) Analysis, by Country, 2018 to 2023
Table 11: East Asia Industry Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 12: East Asia Industry Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 13: China Industry Value (US$ Mn) Analysis, by Grade, 2018 to 2023
Table 14: China Industry Value (US$ Mn) Analysis, by Grade, 2024 to 2034
Table 15: China Industry Value (US$ Mn) Opportunity Analysis, by Grade, 2024 to 2034
Table 16: China Industry Value (US$ Mn) Analysis, by Processing Method, 2018 to 2023
Table 17: China Industry Value (US$ Mn) Analysis, by Processing Method, 2024 to 2034
Table 18: China Industry Value (US$ Mn) Opportunity Analysis, by Processing Method, 2024 to 2034
Table 19: China Industry Value (US$ Mn) Analysis, by Application, 2018 to 2023
Table 20: China Industry Value (US$ Mn) Analysis, by Application, 2024 to 2034
Table 21: China Industry Value (US$ Mn) Opportunity Analysis, by Application, 2024 to 2034
Table 22: Japan Industry Value (US$ Mn) Analysis, by Grade, 2018 to 2023
Table 23: Japan Industry Value (US$ Mn) Analysis, by Grade, 2024 to 2034
Table 24: Japan Industry Value (US$ Mn) Opportunity Analysis, by Grade, 2024 to 2034
Table 25: Japan Industry Value (US$ Mn) Analysis, by Processing Method, 2018 to 2023
Table 26: Japan Industry Value (US$ Mn) Analysis, by Processing Method, 2024 to 2034
Table 27: Japan Industry Value (US$ Mn) Opportunity Analysis, by Processing Method, 2024 to 2034
Table 28: Japan Industry Value (US$ Mn) Analysis, by Application, 2018 to 2023
Table 29: Japan Industry Value (US$ Mn) Analysis, by Application, 2024 to 2034
Table 30: Japan Industry Value (US$ Mn) Opportunity Analysis, by Application, 2024 to 2034
Table 31: South Korea Industry Value (US$ Mn) Analysis, by Grade, 2018 to 2023
Table 32: South Korea Industry Value (US$ Mn) Analysis, by Grade, 2024 to 2034
Table 33: South Korea Industry Value (US$ Mn) Opportunity Analysis, by Grade, 2024 to 2034
Table 34: South Korea Industry Value (US$ Mn) Analysis, by Processing Method, 2018 to 2023
Table 35: South Korea Industry Value (US$ Mn) Analysis, by Processing Method, 2024 to 2034
Table 36: South Korea Industry Value (US$ Mn) Opportunity Analysis, by Processing Method, 2024 to 2034
Table 37: South Korea Industry Value (US$ Mn) Analysis, by Application, 2018 to 2023
Table 38: South Korea Industry Value (US$ Mn) Analysis, by Application, 2024 to 2034
Table 39: South Korea Industry Value (US$ Mn) Opportunity Analysis, by Application, 2024 to 2034
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List Of Figures
Figure 01: East Asia Industry Value (US$ Mn) Historical Analysis, 2018 to 2023
Figure 02: East Asia Industry Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 03: East Asia Industry Value Y-o-Y Growth and Forecast, 2018 to 2034
Figure 04: East Asia Industry Incremental $ Opportunity, 2024 to 2034
Figure 05: East Asia Industry Share and BPS Analysis by Grade, 2024 & 2034
Figure 06: East Asia Industry Y-o-Y Growth Projections by Grade, 2024 to 2034
Figure 07: East Asia Industry Attractiveness Analysis by Grade, 2024 to 2034
Figure 08: East Asia Industry Share and BPS Analysis by Processing Method, 2024 & 2034
Figure 09: East Asia Industry Y-o-Y Growth Projections by Processing Method, 2024 to 2034
Figure 10: East Asia Industry Attractiveness Analysis by Processing Method, 2024 to 2034
Figure 11: East Asia Industry Share and BPS Analysis by Application, 2024 & 2034
Figure 12: East Asia Industry Y-o-Y Growth Projections by Application, 2024 to 2034
Figure 13: East Asia Industry Attractiveness Analysis by Application, 2024 to 2034
Figure 14: East Asia Industry Share and BPS Analysis by Country, 2024 & 2034
Figure 15: East Asia Industry Y-o-Y Growth Projections by Country, 2024 to 2034
Figure 16: East Asia Industry Attractiveness Analysis by Country, 2024 to 2034
Figure 17: China Industry Value (US$ Mn) Historical Analysis, 2018 to 2023
Figure 18: China Industry Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 19: China Industry Value Y-o-Y Growth and Forecast, 2034
Figure 20: China Industry Incremental $ Opportunity, 2024 to 2034
Figure 21: China Industry Share and BPS Analysis by Grade, 2024 & 2034
Figure 22: China Industry Y-o-Y Growth Projections by Grade, 2024 to 2034
Figure 23: China Industry Attractiveness Analysis by Grade, 2024 to 2034
Figure 24: China Industry Share and BPS Analysis by Processing Method, 2024 & 2034
Figure 25: China Industry Y-o-Y Growth Projections by Processing Method, 2024 to 2034
Figure 26: China Industry Attractiveness Analysis by Processing Method, 2024 to 2034
Figure 27: China Industry Share and BPS Analysis by Application, 2024 & 2034
Figure 28: China Industry Y-o-Y Growth Projections by Application, 2024 to 2034
Figure 29: China Industry Attractiveness Analysis by Application, 2024 to 2034
Figure 30: Japan Industry Value (US$ Mn) Historical Analysis, 2018 to 2023
Figure 31: Japan Industry Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 32: Japan Industry Value Y-o-Y Growth and Forecast, 2018 to 2034
Figure 33: Japan Industry Incremental $ Opportunity, 2024 to 2034
Figure 34: Japan Industry Share and BPS Analysis by Grade, 2024 & 2034
Figure 35: Japan Industry Y-o-Y Growth Projections by Grade, 2024 to 2034
Figure 36: Japan Industry Attractiveness Analysis by Grade, 2024 to 2034
Figure 37: Japan Industry Share and BPS Analysis by Processing Method, 2024 & 2034
Figure 38: Japan Industry Y-o-Y Growth Projections by Processing Method, 2024 to 2034
Figure 39: Japan Industry Attractiveness Analysis by Processing Method, 2024 to 2034
Figure 40: Japan Industry Share and BPS Analysis by Application, 2024 & 2034
Figure 41: Japan Industry Y-o-Y Growth Projections by Application, 2024 to 2034
Figure 42: Japan Industry Attractiveness Analysis by Application, 2024 to 2034
Figure 43: South Korea Industry Value (US$ Mn) Historical Analysis, 2018 to 2023
Figure 44: South Korea Industry Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 45: South Korea Industry Value Y-o-Y Growth and Forecast, 2018 to 2034
Figure 46: South Korea Industry Share and BPS Analysis by Grade, 2024 & 2034
Figure 47: South Korea Industry Y-o-Y Growth Projections by Grade, 2024 to 2034
Figure 48: South Korea Industry Attractiveness Analysis by Grade, 2024 to 2034
Figure 49: South Korea Industry Share and BPS Analysis by Processing Method, 2024 & 2034
Figure 50: South Korea Industry Y-o-Y Growth Projections by Processing Method, 2024 to 2034
Figure 51: South Korea Industry Attractiveness Analysis by Processing Method, 2024 to 2034
Figure 52: South Korea Industry Share and BPS Analysis by Application, 2024 & 2034
Figure 53: South Korea Industry Y-o-Y Growth Projections by Application, 2024 to 2034
Figure 54: South Korea Industry Attractiveness Analysis by Application, 2024 to 2034
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
What are the sales projections for thermoplastic vulcanizates in the East Asian market?
Sales of thermoplastic vulcanizates in East Asia are set to reach US$ 294.4 million in 2024.
What is the demand outlook for thermoplastic vulcanizates by the end of 2034?
Demand for thermoplastic vulcanizates in East Asia is projected to reach a value of US$ 636 million by 2034.
What is the expected CAGR for thermoplastic vulcanizate sales from 2024 to 2034?
The East Asian market is approximated to expand at a CAGR of 8% from 2024 to 2034.
What is the projected share of the automotive sector in this market?
The automotive sector is projected to contribute more than 56% share of the East Asian market in 2024.
What is the market value for thermoplastic vulcanizates in South Korea?
The market in South Korea is poised to reach a value of US$ 60.9 million in 2024.
What is the forecasted sales growth rate for natural thermoplastic vulcanizates?
Sales of natural thermoplastic vulcanizates are forecasted to rise at a CAGR of 8.3% through 2034.
What are the projections for the market in China by 2034?
Revenue from the sales of thermoplastic vulcanizates in China is expected to reach US$ 330 million by 2034.
Thermoplastic Vulcanizate Industry Analysis in East Asia