North America Thermoplastic Vulcanizates Market Size & Outlook
North America thermoplastic vulcanizates market, 2018-2030 (US$M)
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North America thermoplastic vulcanizates market highlights
- The North America thermoplastic vulcanizates market generated a revenue of USD 532.1 million in 2022.
- The market is expected to grow at a CAGR of 7.7% 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, U.S. is expected to register the highest CAGR from 2023 to 2030.
North America data book summary
| Market revenue in 2022 | USD 532.1 million |
| Market revenue in 2030 | USD 966.3 million |
| Growth rate | 7.7% (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, North America region accounted for 33.8% 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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North 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 60.57% in 2022. Horizon Databook has segmented the North 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 North America thermoplastic vulcanizates (TPV) market is characterized by high demand for TPV in medical and automotive applications. Favorable government regulations pertaining to TPV consumption in automotive applications as an alternative for alloys and metals, along with growing passenger car production in the U.S. and Mexico, are expected to further propel the regional demand for TPV over the forecast period.
According to the International Organization of Motor Vehicle Manufacturers, the total production of vehicles in 2023 in the U.S., Canada, and Mexico was 10,611,555 units, 1,553,026 units, and 4,002,047 units, respectively. However, the shifting of end-product manufacturing industries to low-wage Asian countries, especially India and China, has hampered the market growth, especially in non-automotive applications in the region.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America thermoplastic vulcanizates market , including forecasts for subscribers. This continent databook contains high-level insights into North America thermoplastic vulcanizates market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America thermoplastic vulcanizates market size, by country, 2018-2030 (US$M)
North America Thermoplastic Vulcanizates Market Outlook Share, 2022 & 2030 (US$M)
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