TPV Market in China

Recently, U.S. Grand View Research released the latest market research report of China TPV shows that market scale of China TPV has been over $170 million in 2015. In next nine years, it is expected to reach $430 million in 2024 due to the continuing growth of auto lightweight components in the rising auto industry. In China, the main TPV market lies in auto industry which followed by electronic appliances, construction and packaging industries.

Over 60% TPV Applied in Auto Industry

Thermoplastic elastomers are more popular among manufacturers than traditional plastics due to its recyclability and high cost efficiency. With the development of innovative products, manufacturers can produce enhanced products of good fluidity, impact resistance, compression set, etc. to compete with traditional materials. In order to realize auto-weight reduction and fuel saving, automotive industry have higher requirements for light weight components. According to Grand View Research, about 60% of Chinese TPV have been used in auto industry in 2015.

Due to its better heat and fluid resistance, TPV has been widely applied to auto sealing profiles, dust cover, air intake system and pipes and rapidly replacing EPDM and other rubber in engine hood application.

The report also said, although Chinese automotive market had a rapid development over past years, the production capacity, trade activity, consumer spending and venture capital investment of auto industry will also keep active growth in the following 20 years.