The Global Polypropylene Thermoplastic Vulcanizate (PP-TPV) Market was valued at USD 1.85 Billion in 2024 and is projected to reach USD 2.78 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 5.8% during the forecast period (2024–2030). This robust growth is primarily driven by the surging demand from the automotive industry for lightweight, durable materials, coupled with expanding applications in consumer electronics and industrial goods.

As industries worldwide prioritize material performance and sustainability, the focus intensifies on advanced polymer developers who are engineering superior elastomeric solutions. This blog profiles the Top 10 Companies in the Polypropylene Thermoplastic Vulcanizate Industry—a mix of chemical giants, specialized compounders, and innovation leaders shaping the future of high-performance thermoplastics.

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🔟 1. Mitsui Chemicals America

Headquarters: Tokyo, Japan (Americas HQ: New York, USA)
Key Offering: MILASTOMER™ TPVs, including Polypropylene-based grades

Mitsui Chemicals is a global leader in high-performance polymers, with its MILASTOMER brand representing a leading portfolio of Thermoplastic Vulcanizates. Their PP-TPVs are renowned for excellent elasticity, heat resistance, and weatherability, making them ideal for demanding automotive seals, grips, and industrial components.

Innovation & Sustainability Initiatives:

• Development of high-flow and super-soft TPV grades for complex automotive parts
• Focus on recyclable and sustainable material solutions
• Global production footprint ensuring robust supply chains

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9️⃣ 2. Celanese Corporation

Headquarters: Irving, Texas, USA
Key Offering: GUR® Ultra-High Molecular Weight Polyethylene (UHMW-PE), engineered TPV compounds

While renowned for its engineering plastics portfolio, Celanese offers specialized compound solutions that compete in the TPV space. Their expertise in polymer chemistry allows them to develop tailored materials with specific performance attributes for automotive and industrial applications.

Innovation & Sustainability Initiatives:

• Advanced compounding technologies for enhanced material properties
• Investment in acetyls chain and engineered materials growth
• Commitment to circular economy principles through material science

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8️⃣ 3. RTP Company

Headquarters: Winona, Minnesota, USA
Key Offering: Custom-engineered thermoplastic compounds, including TPVs

RTP Company is a premier global compounder of engineered thermoplastics. They specialize in custom-formulating TPVs to meet precise customer requirements for color, feel, and performance, serving diverse sectors from automotive to consumer products.

Innovation & Sustainability Initiatives:

• Expertise in custom color matching and additive integration
• Global technical support and manufacturing capabilities
• Development of specialty grades with flame retardancy and conductivity

Download FREE Sample Report: Global and United States Polypropylene Thermoplastic Vulcanizate Market – View in Detailed Research Report

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7️⃣ 4. Lanxess

Headquarters: Cologne, Germany
Key Offering: Keltan® TPV, Levamelt® TPE

Lanxess is a major player in specialty chemicals, offering a range of high-performance elastomers. Their TPV products provide excellent compression set, heat aging resistance, and chemical resistance, making them suitable for under-the-hood automotive applications and construction seals.

Innovation & Sustainability Initiatives:

• Strong focus on sustainability with bio-based and recycled content options
• Global application development centers for customer collaboration
• Leadership in high-temperature resistant TPV grades

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6️⃣ 5. Huntsman Corporation

Headquarters: The Woodlands, Texas, USA
Key Offering: IROGRAN® and AVALON® Thermoplastic Polyurethanes, specialty compounds

Huntsman’s Advanced Materials division provides a wide array of thermoplastic elastomers. Their expertise in polyurethanes and compounding allows them to offer materials with properties that overlap and compete with PP-TPVs in applications requiring exceptional toughness and flexibility.

Innovation & Sustainability Initiatives:

• Investment in innovation for lightweight automotive solutions
• Development of materials supporting electrification trends (e.g., battery components)
• Commitment to reducing the environmental footprint of its products

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5️⃣ 6. Dow Inc.

Headquarters: Midland, Michigan, USA
Key Offering: Engage™ Polyolefin Elastomers (POEs), Versify™ Plastomers, specialty compounds

As a leading materials science company, Dow’s polymer portfolio is foundational to the TPV industry. While not a direct TPV producer, their high-quality polypropylene and elastomer feedstocks are critical raw materials for compounders, and they develop advanced polyolefin-based solutions for similar applications.

Innovation & Sustainability Initiatives:

• Pioneering circular economy initiatives with recycled and bio-based feedstocks
• Development of advanced polymers for sustainable packaging and automotive
• Global R&D capabilities driving material innovation

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4️⃣ 7. BASF Corporation

Headquarters: Ludwigshafen, Germany
Key Offering: Ultradur® (PBT), Elastollan® (TPU), and specialized polymer blends

BASF, one of the world’s largest chemical producers, offers an extensive range of engineering plastics and thermoplastic elastomers. Their material solutions often serve as alternatives or complements to PP-TPVs, particularly in automotive interiors, exteriors, and consumer goods requiring a soft-touch feel.

Innovation & Sustainability Initiatives:

• Comprehensive portfolio of certified bio-based and mass-balanced products
• Strong focus on automotive electrification and lightweighting solutions
• Global production and innovation network

Download FREE Sample Report: Global and United States Polypropylene Thermoplastic Vulcanizate Market – View in Detailed Research Report

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3️⃣ 8. Arkema SA

Headquarters: Colombes, France
Key Offering: Pebax® elastomers, Rilsan® polyamides, technical polymer blends

Arkema is a global leader in specialty materials and additives. Their high-performance polymers, including specialty elastomers, offer unique properties that compete in high-value segments of the TPV market, especially where extreme flexibility, lightness, and temperature resistance are required.

Innovation & Sustainability Initiatives:

• Pioneering bio-circular materials from castor beans and other renewable sources
• Innovation in materials for sports, consumer electronics, and advanced industries
• Commitment to achieving carbon neutrality by 2030

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2️⃣ 9. Kraton Corporation

Headquarters: Houston, Texas, USA
Key Offering: Styrenic Block Copolymers (SBCs), specialty polymers

Kraton is a leading global producer of styrenic block copolymers, which are key components in many soft-touch TPEs and TPVs. Their innovative polymer platforms enable the creation of materials with tailored softness, adhesion, and flexibility for a wide range of applications.

Innovation & Sustainability Initiatives:

• Development of ISCC PLUS certified circular polymers
• Focus on innovation for adhesives, packaging, and automotive sectors
• Proprietary technology for creating novel polymer architectures

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1️⃣ 10. Lubrizol Corporation

Headquarters: Wickliffe, Ohio, USA
Key Offering: Estane® Thermoplastic Polyurethanes (TPUs), Engineered Polymers

Lubrizol’s Engineered Polymers business is a world leader in TPUs, which are high-performance elastomers used in applications overlapping with PP-TPVs. Their materials are known for exceptional abrasion resistance, clarity, and mechanical properties, serving markets from automotive to wire and cable.

Innovation & Sustainability Initiatives:

• Leading provider of bio-based and non-phthalate TPU solutions
• Strong focus on material solutions for medical and consumer electronics
• Global application development and technical service support

Get Full Report Here: Global and United States Polypropylene Thermoplastic Vulcanizate Market – View in Detailed Research Report

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🌍 Outlook: The Future of Polypropylene Thermoplastic Vulcanizates is Smarter and More Sustainable

The PP-TPV market is experiencing a significant transformation. While conventional materials continue to serve high-volume applications, the industry is investing heavily in sustainable formulations, advanced processing technologies, and materials tailored for next-generation applications like electric vehicles (EVs).

📈 Key Trends Shaping the Market:

• Accelerating demand for lightweight, high-performance materials in automotive, especially for EV battery packs and interior components
• Growing adoption of bio-based and recycled-content TPVs to meet sustainability goals
• Increasing use in consumer electronics for soft-touch grips, seals, and durable casings
• Development of TPVs with enhanced UV stability, colorfastness, and chemical resistance for outdoor applications

Get Full Report Here: Global and United States Polypropylene Thermoplastic Vulcanizate Market – View in Detailed Research Report

The companies listed above are not only supplying essential materials—they are at the forefront of developing the next generation of high-performance, sustainable polymers that will define modern manufacturing.