Russia Thermoplastic Vulcanizates Market Size & Outlook
Russia thermoplastic vulcanizates market, 2018-2030 (US$M)
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Russia thermoplastic vulcanizates market highlights
- The Russia thermoplastic vulcanizates market generated a revenue of USD 62.3 million in 2022 and is expected to reach USD 99.0 million by 2030.
- The Russia market is expected to grow at a CAGR of 6% 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 62.3 million |
| Market revenue in 2030 | USD 99.0 million |
| Growth rate | 6% (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, Russia accounted for 4.0% 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 Europe, Germany thermoplastic vulcanizates market is projected to lead the regional market in terms of revenue in 2030.
- UK is the fastest growing regional market in Europe and is projected to reach USD 116.0 million by 2030.
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Thermoplastic Vulcanizates Market Scope
Thermoplastic Vulcanizates Market Companies
| Name | Profile | # Employees | HQ | Website |
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Russia 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 53.61% in 2022. Horizon Databook has segmented the Russia 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 Russia is significantly driven by the rising demand for lightweight vehicles in the automotive industry. Based on car sales and production, Russia is among the top 12 largest automobile markets across the world.
According to the International Organization of Motor Vehicle Manufacturers (IOCA), in 2023, Russia produced approximately 729,684 million vehicles, including passenger and commercial vehicles, which was 20% higher compared to 2022. Currently, the automotive industry is characterized by the expansion of local production capacity.
The government is proposing non-tariff protections to support local manufacturers that aim at maintaining customer demand and reducing production costs. All these factors are expected to positively impact the demand for TPV in automotive applications in the coming years.
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Horizon Databook provides a detailed overview of country-level data and insights on the Russia thermoplastic vulcanizates market , including forecasts for subscribers. This country databook contains high-level insights into Russia thermoplastic vulcanizates market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Russia thermoplastic vulcanizates market size, by application, 2018-2030 (US$M)
Russia Thermoplastic Vulcanizates Market Outlook Share, 2022 & 2030 (US$M)
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