Mordor Intelligence (MI) released its 2018 list of companies with the largest market share of the thermoplastic vulcanizate market.
1. Mitsui Chemicals, Inc.
Mitsui Chemicals, Inc. is a major manufacturer and supplier of thermoplastic vulcanizate for automotive parts, electric wire sheathing, domestic appliance parts, sports goods, and construction applications. The company is focusing on the expansion strategy to maintain its strong position in the market. For instance, in March 2018, the company announced its plans to construct a new manufacturing facility in Ohio, United States, to cater to the growing demand from the automotive interior application in North America.
2. Exxon Mobil Corporation
Exxon Mobil Corporation is one of the largest oil & gas companies and is engaged in refining and marketing petroleum and chemical products. To increase its presence in the thermoplastic vulcanizate market, the company is focusing on signing distribution agreement and launching new products. For instance, to increase its presence in the North American market, the company signed a distribution agreement with Nexeo Solutions, Inc. in March 2018. In addition, the company announced that it will be launching new grades of Santoprene brand TPV to strengthen the product portfolio and cater to the growing demand for TPV from automotive applications.
3. A. Schulman, Inc.
A. Schulman, Inc. is a leading supplier of high-performance plastic compounds, composites, and resins for packaging, mobility, building & construction, electronics & electrical, agriculture, personal care & hygiene, sports, leisure & home, and custom services, among others. The company has a strong geographical footprint and is focusing on creating new applications and tailor-made solutions. In addition, it is also focusing on developing lightweight materials to align itself with industry requirements.
4. Mitsubishi Chemical Corporation
Mitsubishi Chemical Corporation is one of the leading manufacturers of thermoplastic vulcanizate for automotive, and home appliances applications. The company is heavily focusing on R&D to develop new technologies in emerging applications to cater to the diverse demands of consumers.
5. Celanese Corporation
Celanese Corporation manufactures and markets thermoplastic vulcanizate for automotive, construction, appliances and consumer applications. The company has broad materials portfolio with strong R&D capabilities to cater to the changing consumer preferences. In addition, the company is focusing on the merger, and acquisition strategies to increase its presence globally.
Here are some of the other key players mentioned in the market report:
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