Dublin, Feb. 16, 2022 (GLOBE NEWSWIRE) -- The "Thermoplastic Polyolefin (TPO) Market by Type (In-situ TPO, Compounded TPO, & POEs), Application (Automotive, Building & Construction, Medical, Wire & Cables), and Region (APAC, North America, Europe, MEA, South America) - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global thermoplastic polyolefin (TPO) market size is estimated to be USD 4.5 billion in 2021 and is projected to reach USD 6.2 billion by 2026, at a CAGR of 6.4% between 2021 and 2026.
The compounded TPO accounted for the largest market share of 41.0% in 2020. Automotive is estimated to be the largest end-use industry of TPOs during the forecast period, followed by building & construction in terms of volume. TPOs are used for exterior body parts such as bumpers, rocker panels, body seals, automotive gaskets, doors & windows, and other parts. Recent developments in TPO have enabled their use in underhood applications in the automobile industry.
Compounded TPO is projected to be the largest segment by type in Thermoplastic polyolefin (TPO) market
Based on type, compounded TPO accounted for the majority share of the TPO market in 2020. These TPOs are high-performance elastomers engineered to improve the performance of a broad range of end-products and applications. The increasing adoption in the automotive industry to reduce the weight of vehicles and improve their fuel efficiency helps to drive the TPOs market. Also, TPOs can be processed by various techniques such as injection molding, profile extrusion, thermoforming, and blow molding. It is weather-resistant and does not degrade on exposure to solar radiation. Hence, it is extensively used in making roofs and other outdoor applications.
Automotive is projected to be the largest segment by application in Thermoplastic polyolefin (TPO) market
The automotive industry led the TPOs market in 2020. The TPOs market in the automotive segment is projected to grow owing to increased competition among players to provide lightweight and robust auto parts, growing demand for vehicles, supportive government policies, development of transportation infrastructure, and rapid economic growth.
APAC accounts for the largest share in Thermoplastic polyolefin (TPO) market by region
The TPOs market in APAC accounted for the largest share of the overall market in 2020. The demand for TPO is expected to grow due to the developing construction and automotive sectors. In APAC, Japan dominated the TPOs market in 2020, followed by China and South Korea. The market is projected to register a high CAGR during the forecast period. Strong growth in automobile sales is expected to drive the market for TPOs in the region. Besides, the growth of the construction sector is expected to enhance the market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Thermoplastic Polyolefins Market
4.2 APAC Thermoplastic Polyolefins Market, by Type and Country, 2020
4.3 Thermoplastic Polyolefins Market, by Key Countries
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Usage of Tpos in Exterior and Interior Parts of Automobiles to Drive the Market
5.2.1.2 Steady Growth in the Building & Construction Industry Will Drive the Market
5.2.1.3 Increasing Usage of Tpo Waterproofing Membrane in the Repair and Maintenance Activities
5.2.2 Restraints
5.2.2.1 Raw Material Price Volatility
5.2.3 Opportunities
5.2.3.1 Intra Replacement of Other Thermoplastic Polymers with Tpos
5.2.3.2 Increasing Penetration of Evs Across the Globe to Provide An Opportunity for Market Growth
5.2.3.3 Increasing Demand from Emerging Applications
5.2.3.4 Increasing Demand from the Packaging Industry
5.2.4 Challenges
5.2.4.1 Increasing Trend of Plastic Recycling
5.3 Porter's Five Forces Analysis
5.3.1 Bargaining Power of Suppliers
5.3.2 Threat of New Entrants
5.3.3 Threat of Substitutes
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
5.4 Thermoplastic Polyolefins Market: Optimistic, Pessimistic, and Realistic Scenarios
5.5 Forecasting Factors and COVID-19 Impact Analysis
5.6 Supply Chain Analysis
5.6.1 Impact of COVID-19 on Supply Chain
5.7 Ecosystem/Market Mapping
5.8 Yc & Ycc Shift
5.9 Regulatory Landscape
5.10 Thermoplastic Polyolefin (TPO) Patent Analysis
5.11 Macroeconomic Indicators
5.12 Trade Scenario: Key Exporting and Importing Countries
5.13 Case Study
5.14 Average Price Analysis
5.15 Technology Analysis
6 Thermoplastic Polyolefins Market, by Type
6.1 Introduction
6.2 In-Situ TPO
6.2.1 Increasing Application in Automotive and Construction Industries to Drive the Demand
6.3 Compounded TPO
6.3.1 Superior Physico-Chemical Characteristics to Drive Its Use in the Automotive Industry
6.4 Polyolefin Elastomers (Poes)
6.4.1 Increase in Their Usage as An Alternative to Rubber Supports Market Growth
7 Thermoplastic Polyolefins Market, by Application
7.1 Introduction
7.2 Automotive
7.2.1 Increasing Penetration of Evs and Growing Adoption to Reduce the Weight of Cars to Drive the Market
7.3 Building & Construction
7.3.1 Excellent Waterproofing Characteristic of Tpo Membranes to Support the Market Growth
7.4 Wires & Cables
7.4.1 Growing Demand for Wires & Cables Across Industries to Drive the Market
7.5 Medical
7.5.1 Compliance with Medical & Healthcare Standards to Drive the Market
7.6 Others
8 Thermoplastic Polyolefins Market, by Region
9 Competitive Landscape
9.1 Overview
9.2 Market Share Analysis
9.3 Company Evaluation Matrix Definition and Technology
9.3.1 Star
9.3.2 Pervasive
9.3.3 Product Footprint
9.3.4 Emerging Leader
9.4 Startups and Small and Medium-Sized Enterprises (SMEs) Evaluation Matrix
9.4.1 Responsive Companies
9.4.2 Dynamic Companies
9.4.3 Starting Blocks
9.5 Competitive Benchmarking
9.5.1 Company Application Footprint
9.5.2 Business Strategy Excellence
9.6 Revenue Analysis of Top 5 Market Players
9.7 Ranking Analysis of Key Market Players, 2020
9.8 Key Market Developments
9.8.1 Expansions
9.8.2 Acquisitions
9.8.3 New Product Launches
10 Company Profiles
10.1 Major Players
10.1.1 Dow Inc.
10.1.2 Mitsui Chemicals, Inc.
10.1.3 Exxon Mobil Corporation
10.1.4 Sabic
10.1.5 Sumitomo Chemical Co. Ltd.
10.1.6 Lyondellbasell Industries N.V.
10.1.7 Ineos Group Holdings S.A.
10.1.8 Borealis Ag
10.1.9 Formosa Plastics Corporation
10.1.10 Rtp Company
10.1.11 Polyone Corporation
10.1.12 the Mitsubishi Chemical Holding Group.
10.1.13 Elastron
10.1.14 GAF
10.1.15 Teknor Apex Company
10.1.16 Raigh Refining and Petrochemical Company
10.1.17 Noble Polymers
10.1.18 Hexpol Ab
10.1.19 Washington Penn
10.1.20 Alphagary Limited
10.1.21 Saudi Aramco
11 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/5agaf3
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