Thermoplastic Polyolefins (TPO) Market was valued at US $ XX Mn and expected to grow at XX% Compound Annual Growth Rate (CAGR) from 2019 to 2025.
Market Outline: Thermoplastic Polyolefins (TPO) Market
Thermoplastic Polyolefins (TPO) contain polymers including polypropylene, polyethylene and rubber with filler material. TPOs are processed like thermoplastics and come under thermoplastic elastomers family. TPO are manufactured by different processes including injection molding, extrusion molding and forming. TPO possess rubber qualities but they are processed like polymer. This unique property has increased the application scope of TPO in major end-use industries recently. Thermoplastic polyolefin (TPO) is one of the most widely used products in the thermoplastic elastomer family. TPO finds application in a wide range industries, such as automotive, building and construction, home appliances, medical, industrial, and footwear.
Market Dynamics: Thermoplastic Polyolefins (TPO) Market
Rapid growth in the automotive industry, coupled with a rise in building and construction activities, has been single-handedly driving the demand for TPO in the past few years. Transparency Market Research predicts that this trend will continue during the forecast period. However, factors such as volatility in the prices of raw materials and a high threat from substitutes are estimated to adversely affect the growth of the TPO market. Substitutes such as thermoplastic polyurethane, polyvinyl chloride, and thermoplastic vulcanizate are anticipated to offer substantial threat to the TPO market in the coming years.
Market Scope: Thermoplastic Polyolefins (TPO) Market
Thermoplastic Polyolefins (TPO) Market is segmented based on product type, application, and end user
Based on product type, market is segmented into the following:
- Compounded TPO
- Thermoplastic Vulcanizates (TPV’s)
- Thermoplastic Polyolefins(POE’s)
- Olefinic Block Copolymer (OBC’s)
Based on the application, market is segmented into the following:
- Building & Construction
- Consumer & Home Appliances
- Medical Devices
- Sporting Goods
Regional Analysis: Thermoplastic Polyolefins (TPO) Market
Geographically, Thermoplastic Polyolefins (TPO) Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The TPO market in 2014 was dominated by North America in terms of volume with about XX%. It is followed by Asia Pacific region with XX% of the market share. Asia Pacific is expected to be the fastest growing market for TPO at an estimated CAGR of XX% from 2018 to 2025. This can be attributed to the growing automotive markets in the emerging economies of China and India. Europe volume share is estimated to grow at a slower pace with the slowest CAGR of XX% due to its saturated markets.
Competition Assessment: Thermoplastic Polyolefins (TPO) Market
Some of the players in the thermoplastic polyolefins market include:
- Arkema SA (France)
- Chemtura Corp. (US)
- Dow Chemical Company (US)
- ExxonMobil (US)
- SABIC (Saudi Arabia)
- INEOS Olefins & PolyOne Distribution
- LyondellBasell, Spartech Polycom
- RheTech, Johns-Manville Corporation
- Noble Polymers (Cascade Engineering)
- Shell Chemical
- A Schulman, Inc.
- RTP Company
- Sumitomo Chemical
- Saudi Aramco,
- Zylog and Polisystem UK Ltd.
Notable Market Developments: Thermoplastic Polyolefins Market
- In January 2016, Mitsubishi Chemicals launched an olefin (base) thermoplastic named as ZELAS. It is a high-performance thermal plastic with high rubber content. The product will have application in medical, automotive interiors and exterior parts well in construction materials.