Press release
Thermoplastic Polyolefins (TPO) Market 20243: ARKEMA S.R.L., The Dow Chemical Company, ExxonMobil, SABIC, INEOS, Spartech Corporation (now PolyOne Designed Structures and Solutions LLC) ,
Emerging trend to replace PVC due to rising ecological concerns will fuel the market growth. Excellent abrasion resistance, high strength, light weight, low costs, resistance to UV radiation and oxidation are the substantial properties encouraging usage in various applications. (TPO) Thermoplastic Polyolefins Market size will surpass USD 4 billion by 2023; as reported in the latest study by Global Market Insights, Inc.
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Construction application will witness CAGR over 5% up to 2023. Rising applications in commercial and residential roofing coupled with rapid urbanization and rising disposable income will trigger the thermoplastic polyolefins demand in this application. Weather resistance and flexibility at low temperatures are the beneficial properties driving industry growth.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Arkema S.A.
2. Dow Chemical Company
3. ExxonMobil
4. SABIC
5. INEOS
6. Spartech Corporation
7. Noble Polymers
8. A Schulman, Inc
9. Sumitomo Chemical Company Ltd
10. Saudi Aramco
11. Polisystem UK Ltd
12. RTP Company
13. DuPont
Rapid industrialization and expansion in automotive industries particularly in China, Germany, India and Brazil will enhance the product penetration. Automobile applications is estimated to observe gains over 6% up to 2023. Technological advancement in reducing automobile weight, improving fuel efficiency and reducing CO2 emissions will support the product demand. Increasing innovations in CAFE influenced automobile manufacturers to develop advanced methods for vehicle weight reduction. These innovations will create new avenues in the thermoplastic polyolefins applications.
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Mitsubishi Chemicals, a Japan based company introduced olefin thermoplastic under brand ZELAS. The product will have applications in automotive interiors and exterior parts, medical as well as construction industry. Raw material availability including ethylene and propylene is mainly affected by crude oil index. Fluctuating crude oil index influence the product price trends, which may hamper the industry growth.
Central & South America (CSA) is estimated to register over 7% CAGR up to 2023. Expansion in packaging, e-commerce and medical industry will support this growth. Brazil thermoplastic polyolefins market size will witness CAGR around 8% by 2023 in industrial applications.
Global thermoplastic polyolefins market share is moderately competitive. The key industry participants include Lyondell Basell, Dow Chemicals, Hitachi Automotive Systems Americas Inc, DuPont, RTP, SABIC, INOES, and Saudi Aramco.Forward integration and presence across large part of the value chain to extend geographical coverage are the major strategies adopted by these companies.
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Other industry participants include AGC Chemicals Americas Inc, Arkema S.A., Avon automotive, BASF group, Covestro AG, PolyOne Corporation, Solvay Specialty polymers Inc, GAF and Spartech.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Us
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1 888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
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