Mexico Thermoplastic Vulcanizates Market Size & Outlook
Mexico thermoplastic vulcanizates market, 2018-2030 (US$M)
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Mexico thermoplastic vulcanizates market highlights
- The Mexico thermoplastic vulcanizates market generated a revenue of USD 57.2 million in 2022 and is expected to reach USD 100.8 million by 2030.
- The Mexico market is expected to grow at a CAGR of 7.3% 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.
Thermoplastic vulcanizates market data book summary
| Market revenue in 2022 | USD 57.2 million |
| Market revenue in 2030 | USD 100.8 million |
| Growth rate | 7.3% (CAGR from 2022 to 2030) |
| Largest segment | Automotive |
| Fastest growing segment | Medical |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 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, Mexico accounted for 3.6% of the global thermoplastic vulcanizates market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. thermoplastic vulcanizates market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 813.5 million by 2030.
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Thermoplastic Vulcanizates Market Scope
Thermoplastic Vulcanizates Market Companies
| Name | Profile | # Employees | HQ | Website |
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Mexico 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 62.94% in 2022. Horizon Databook has segmented the Mexico 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 TPV market in Mexico is expected to benefit from the rising construction spending and the growing inclination of consumers toward the utilization of sustainable and lightweight building materials in place of conventional materials. The expanding automotive sector, on account of EVs and a shift in consumer purchase behavior toward lightweight cars, is further anticipated to have a positive impact on the TPV market growth in the coming years.
Automobile companies are increasingly manufacturing EVs, due to the favorable government policies and rising awareness regarding sustainability. Tesla, Inc., BYD Auto Co., Ltd., and Audi AG are some of the companies that are setting up their EV manufacturing plants in the country. In February 2024, Volkswagen AG announced the second phase of its USD 1 billion investment in the EV market in Mexico.
Moreover, in April 2024, Tesla, Inc. announced its plans to expand in Mexico and India by establishing manufacturing plants. This expansion is likely to create the demand for TPV in automotive applications.
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Our clientele includes a mix of thermoplastic vulcanizates market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Mexico thermoplastic vulcanizates market , including forecasts for subscribers. This country databook contains high-level insights into Mexico thermoplastic vulcanizates market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico thermoplastic vulcanizates market size, by application, 2018-2030 (US$M)
Mexico Thermoplastic Vulcanizates Market Outlook Share, 2022 & 2030 (US$M)
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