Dublin, Aug. 14, 2024 (GLOBE NEWSWIRE) -- The "Southeast Asia Thermoplastic Vulcanizates Market Size, Share & Trends Analysis Report by End-use (Automotive, Building & Construction, Consumer Goods), Country (Thailand, Indonesia, Vietnam), and Segment Forecasts, 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The Southeast Asia thermoplastic vulcanizates market size is anticipated to reach USD 50.07 million by 2030 and is expected to expand at a CAGR of 8.2%
The market growth is primarily driven by the ascending demand for the product from key industries, including automotive, electrical & electronics, and building and construction in emerging countries such as Thailand and the Philippines. 
Furthermore, the growing demand for high-performance and lightweight vehicles and durable electronics has increased the demand for thermoplastic vulcanizates (TPVs) in these industries. Owing to its significant penetration in the region, TPV offers better flexibility and durability than other thermoplastic elastomers.
Unlike conventional TPVs, bio-based TPVs do not take several hundred years to degrade into the environment. Rising plastic accumulation and recycling & reuse are the major concerns for regional governments. The growing concerns related to the environmental impact, recyclability, and decomposition time in landfills of the products they purchase are expected to positively impact the growth of the bio-based thermoplastic vulcanizates market over the forecast period.
Southeast Asia Thermoplastic Vulcanizates Market Report Highlights
- Automotive dominated the source segment with more than 52.77% share in 2023 due to the rising demand for lightweight, high-performance materials like TPVs, which are alternative to traditional rubber and helping to reduce the overall vehicle weight
- The building and construction segment is expected to grow at a significant CAGR of 8.3% over the forecast period. The market is expected to benefit from rising construction spending and consumers' growing inclination toward sustainable and lightweight building materials over conventional materials
- TPVs are increasingly used as an alternative for thermoset rubbers, such as SBR, EPDM, and chlorosulfonated polyethylene, owing to their better reliability, safety, low maintenance, and low cost of manufacturing the parts. They're used in the automotive sector for applications like weather seals for windshields, sunroofs, and roof lines
- Indonesia dominated the market with the highest revenue share in 2023, owing to ongoing urbanization and rising disposable income. The growth of this industry in the country is expected to contribute to the demand for TPVs used for developing several electronic and household appliances
Companies Featured
- Dow Chemical Thailand
- APAR Industries
- KK Kompounding Tech Giant Limited
- Elkem ASA
- Teknor Apex
- MT PLAS (M) SDN BHD
- Elastron TPE
- Preeco Engineering Sdn Bhd
- MCPP INDONESIA
- Nexeo Plastics, LLC
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 75 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $29.36 Million |
| Forecasted Market Value (USD) by 2030 | $50.07 Million |
| Compound Annual Growth Rate | 8.2% |
| Regions Covered | Asia Pacific |
Key Topics Covered:
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.4. Information Analysis
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot
Chapter 3. Southeast Asia Thermoplastic Vulcanizates (TPV) Market Variables, Trends & Scope
3.1. Market Lineage 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
3.2.3. Technological Overview
3.3. Regulatory Framework
3.4. Market Dynamics
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-environmental Analysis
Chapter 4. Southeast Asia Thermoplastic Vulcanizates (TPV) Market: End-use Estimates & Trend Analysis
4.1. End-use Movement Analysis & Market Share, 2023 & 2030
4.2. Southeast Asia Thermoplastic Vulcanizates (TPV) Market Estimates & Forecast, by End-use, 2018 to 2030 (Tons) (USD Thousand)
4.3. Automotive
4.3.1. Automotive Market Revenue Estimates and Forecasts, 2018-2030 (Tons) (USD Thousand)
4.4. Building & Construction
4.5. Consumer Goods
4.6. Medical
4.7. Fluid Handling
Chapter 5. Southeast Asia Thermoplastic Vulcanizates (TPV) Market: Country Estimates & Trend Analysis
5.1. Country Movement Analysis & Market Share, 2023 & 2030
5.2. Southeast Asia
5.2.1. Southeast Asia Thermoplastic Vulcanizates (TPV) Market Estimates & Forecast, 2018-2030 (Tons) (USD Thousand)
5.2.2. Thailand
5.2.2.1. Key Country Dynamics
5.2.2.2. Thailand Thermoplastic Vulcanizates (TPV) Market Estimates & Forecast, 2018-2030 (Tons) (USD Thousand)
5.2.3. Indonesia
5.2.4. Vietnam
5.2.5. Philippines
5.2.6. Malaysia
Chapter 6. Southeast Asia Thermoplastic Vulcanizates (TPV) Market - Competitive Landscape
6.1. Recent Developments & Impact Analysis, by Key Market Participants
6.2. Company Categorization
6.3. Company Market Share/Position Analysis, 2023
6.4. Company Heat Map Analysis
6.5. Strategy Mapping
6.5.1. Expansion
6.5.2. Mergers & Acquisition
6.5.3. Partnerships & Collaborations
6.5.4. New Product Launches
6.5.5. Research and Development
6.6. Company Profiles
6.6.1. Participant's Overview
6.6.2. Financial Performance
6.6.3. Product Benchmarking
6.6.4. Recent Developments
For more information about this report visit https://www.researchandmarkets.com/r/72lvon
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