Global Thermoplastic Vulcanizates (TPV) Market is expected to reach USD 1.87 billion by 2020, according to a new study by Grand View Research, Inc. Growing demand for lightweight, high performance materials from automotive industry is expected to drive the global thermoplastic vulcanizates market. Increasing government intervention for improving fuel efficiency has prompted the use high performance engineering plastics including TPV which has fueled its demand. Growth of consumer goods industry in BRIC nations is also expected to have a positive impact on the global market. Volatile price of key feedstock is expected to remain a key challenge for market participants over the forecast period. Automotive was the largest application segment and accounted for 59.8% of total TPV consumption in 2013. Strong shift in trend towards replacing metals and heavy plastics with engineering plastics in order to reduce the overall weight of automobiles is expected to drive this segment over the forecast period. Medical is expected to witness the highest growth rate of 7.6% from 2014 to 2020. Growing awareness regarding the use of phthalate free medical devices and equipment is expected to drive TPV demand in medical industry. View summary of "Thermoplastic Vulcanizates (TPV) Market Analysis Report" @
http://www.grandviewresearch.com/industry-analysis/thermoplastic-vulcanizates-industry Further key findings from the study suggest:
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Grand View Research,IncGrand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. Archives
June 2017
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