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North America Thermoplastic Polyolefin Market: By Application , and Country
North America Thermoplastic Polyolefin Market: By Application , and Country
North America Thermoplastic Polyolefin Market size was valued at US$ 704.24 Million in 2023 and is poised to grow at a significant CAGR of 6.4% over 2024-2030. Increasing demand from end use industries such as aerospace, automotive, construction and medical will boost North America market size. Trend to replace polyvinyl chloride with TPO across various sectors owing to rising environmental concerns will fuel market growth. Demand will also be supported by advancements in terms of functionalities such as durability, economical, lightweight, admirable abrasion resistant, UV light stabilizer & antioxidants to resist solar UV radiation and oxidation. It holds properties of both plastic and rubber. It is preferred in regions of extreme weather conditions as it protects the metal and non-metal parts exposed to severe heat. Growth in construction output tends to contribute towards North America Thermoplastic polyolefin industry demand as it finds applications in commercial & residential roofing. This can be attributed to its properties like weathering resistance and cold temperature flexibility. TPO roofing systems provide vital reflectivity and energy efficiency well as strong resistance to ultraviolet radiations. Hence usage of TPO in roofing systems reduces the heat gains of building. Technological challenges along with oscillating raw material costs, however, can impede the North America Thermoplastic polyolefin market during the forecast timeline.
Companies are investing heavily and are entering into mergers and acquisitions to tap the cosmetic ingredient market potential North Americaly. Some of the market participants in the North America cosmetic ingredients market are BASF SE, The Dow Chemical Co., Ashland Inc., Rhodia, DuPont Tata & Lyle Bio Products, Sederma Inc., Sumitomo Group, etc. For instance, Sumitomo Group is expected to acquire active cosmetic ingredient business from Kyowa Hakko Europe GmbH in order to advance its cosmetic ingredient business in Europe. The North America market for thermoplastic compounds is expected to reach US$ XX Bn during forecast timeframe. Increase in consumption of polymer products by end use industries like automotive while manufacturing automotive parts. It results good tensile strength, corrosion resistance and noise reduction when metal to metal contact incurred, in automotive parts. And it tends to boost the thermoplastic polyolefin market size. Thermoplastic polyolefin market is mainly driven by the growing demand for high performance and environment friendly material in construction and automotive industry. Additionally, the product is progressively being used instead of traditional thermoset rubbers and possess the capability to be entirely recycled.
North America has been is anticipated to continue on the dominant position in the years to come. The rapid growth of industrial & construction applications is the main factor behind the dominance of the North America thermoplastic polyolefin market. In addition, strict legislations pertaining to fuel conservation across the automotive industry is another significant factor that is supporting the growth of this regional North America thermoplastic polyolefin market. U.S. is expected to dominate the North America thermoplastic polyolefin market size throughout the forecast timeframe. Industrial & construction applications are likely to be the fastest growing segment in the region over XX% growth by 2023.
Latin America
Europe
Asia Pacific
Middle East
North America
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The North America Thermoplastic Polyolefin Market size was valued at US$ 704.24 Million in 2023
The North America Thermoplastic Polyolefin Market report covers the data: North America (United States, Canada)
The North America Thermoplastic Polyolefin Market Key Players are LyondellBasell Industries, Schulman, Mitsui & Company Limited, ExxonMobil Corporation, The Dow Chemical Company, S&E Specialty Polymers, SABIC Chemical Manufacturing Company
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.