Latin America Thermoplastic Vulcanizates Market Size & Outlook
Latin America thermoplastic vulcanizates market, 2018-2030 (US$M)
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Latin America thermoplastic vulcanizates market highlights
- The Latin America thermoplastic vulcanizates market generated a revenue of USD 38.8 million in 2022.
- The market is expected to grow at a CAGR of 7.2% from 2023 to 2030.
- In terms of segment, automotive was the largest revenue generating application in 2022.
- Medical is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, Argentina is expected to register the highest CAGR from 2023 to 2030.
Latin America data book summary
| Market revenue in 2022 | USD 38.8 million |
| Market revenue in 2030 | USD 67.6 million |
| Growth rate | 7.2% (CAGR from 2022 to 2030) |
| Largest segment | Automotive |
| Fastest growing segment | Medical |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Automotive, Fluid Handling, Consumer goods, Medical, Footwear, Athletic Shoes |
| Key market players worldwide | JSR Corp, Exxon Mobil Corp, DuPont de Nemours Inc, Mitsui Chemicals Inc, Celanese Corp Class A, LyondellBasell Industries NV Class A, Mitsubishi Electric Corp, Ravago Chemicals, Kumho Petrochemical, Avient Corp, Ravago |
Other key industry trends
- In terms of revenue, Latin America region accounted for 2.5% of the global thermoplastic vulcanizates market in 2022.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- MEA is the fastest growing regional market and is projected to reach USD 58.9 million by 2030.
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Thermoplastic Vulcanizates Market Scope
Thermoplastic Vulcanizates Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America thermoplastic vulcanizates market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to thermoplastic vulcanizates market will help companies and investors design strategic landscapes.
Automotive was the largest segment with a revenue share of 61.86% in 2022. Horizon Databook has segmented the Latin America thermoplastic vulcanizates market based on automotive, fluid handling, consumer goods, medical, footwear, athletic shoes covering the revenue growth of each sub-segment from 2018 to 2030.
The market in Central & South America (CSA) is expected to witness significant growth, owing to the increasing investments in the automotive sector. Increasing trend of lightweight vehicles in Argentina, Brazil, and Columbia is expected to boost the demand for TPV over the forecast period.
Furthermore, increasing governmental initiatives, such as the digitalization of the Unified Health System in Brazil, for the enhancement of public healthcare infrastructure are expected to have a significant impact on key application industries, such as medical components, wound care, and implants, thereby driving the demand for TPV in medical applications in the region over the forecast period.
The growing residential building & construction sector in CSA is driving the demand for TPV in fluid handling applications in the building & construction sector. Significant new investments in housing and public works by the government are expected to boost infrastructural growth in Colombia, thereby propelling the demand for TPV over the forecast period.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America thermoplastic vulcanizates market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America thermoplastic vulcanizates market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America thermoplastic vulcanizates market size, by country, 2018-2030 (US$M)
Latin America Thermoplastic Vulcanizates Market Outlook Share, 2022 & 2030 (US$M)
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