Press release
Overall Consumption Of Reactor Thermoplastic Polyolefin Elastomer (TPO) Is Set To Reach Around 700 Kt By 2031
As per industry analysis on reactor thermoplastic polyolefin elastomers (TPOs) by Fact.MR, the market is anticipated to be valued at US$ 647 Mn in 2021, expanding at a moderate CAGR of 4.5% over the forecast period of 2021-2031.To Get In-depth Information View Full Report – https://www.factmr.com/report/4250/thermoplastic-polyolefin-elastomer-tpo-market
Fact.MR, a market research and competitive intelligence provider, analyses that reactor thermoplastic polyolefin elastomer demand is set to witness moderate growth on the back of rising demand for strong and lightweight bumper fascia from the automotive industry.
The market is technically dominated market by a few key players such as LyondellBasell (Catalloy), Japan Polypropylene (JPP Horizone Technology), and Borealis (Borstar). Of these, JPP Horizone has gained traction across the globe for the production of reactor TPOs over the past two decades. However, recently, LyondellBasell Catalloy’s technology is under the sights of potential manufacturers owing to ease of product processing coupled with extensive product diversification.
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Manufacturers with no in-house expertise tend to license the technology under intellectual property agreements, which enforces the quality standards and rate of production by the license provider. Licensing restricts production growth of the company, and over the past half-decade, technology holders have maintained a low to moderate rate of production, which has assisted them maintain market prices that have hovered near the ceiling price.
Key Takeaways from Market Study
The reactor thermoplastic polyolefin elastomer market is anticipated to add 1.5X value by 2031.
Collective reactor TPO production capacity of prominent players such as Borealis, LyondellBasell, and Formosa Plastics positioned in North America is 180 KT.
Prominent players in East Asia such as Hyosung, Lotte Chemicals, Mitsubishi, and Formosa Plastics, together account for 120 KT production of reactor TPOs.
Rigid form of reactor thermoplastic polyolefin elastomers captures a major chunk of the market and is set to create an absolute $ opportunity of around US$ 262 Mn over 2021-2031.
Among the applications, medical has been the fastest-growing segment globally, over the past decade.
Automotive application held a major chunk of the market share in 2020.
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Key Segments Covered in Reactor Thermoplastic Polyolefin Elastomer Industry Research
Resin
Flexible
Rigid
Application
Reactor TPOs for Automotive
Interior
Side Covers
Pillars
Dashboard, Door Panel and Armrest
Floor Mat
Others
Exterior
Side Rails
Side Cladding
Bumpers
Others
Reactor TPOs for Flexible Profiles
Hoses & pipes
Roofing Membranes
Geomembranes
Foam Sheet
Residential Flooring
Reactor TPOs for Packaging
Rigid
Flexible
Medical Reactor TPOs
Film
Tube
Injected Parts
Others
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Crucial insights in the Reactor Thermoplastic Polyolefin Elastomer (TPO) Market research:
Underlying macro- and microeconomic factors impacting the growth of the Reactor Thermoplastic Polyolefin Elastomer (TPO) Market Basic overview of the Reactor Thermoplastic Polyolefin Elastomer (TPO) Market including market definition, classification, and applications.
Scrutinization of each Reactor Thermoplastic Polyolefin Elastomer (TPO) Market player based on mergers & acquisitions, R&D projects, and product launches.
Adoption trend of Reactor Thermoplastic Polyolefin Elastomer (TPO) Market across various industries.
Important regions and countries offering lucrative opportunities to Reactor Thermoplastic Polyolefin Elastomer (TPO) Market stakeholders.
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Market Overview
The Thermoplastic Polyolefin (TPO) Market is estimated to reach a CAGR of 6.10% during the forecast period (2022-2029).
Thermoplastic polyolefin is a substance that was initially created for pond liners and has been widely used for roofing since 1989. It is a single-ply membrane that can be mechanically or adhesively fastened to a roof. TPO is made of a polymerized mixture of polypropylene and ethylene-propylene rubber. TPO is a low-cost…
Thermoplastic Polyolefin (TPO) Market Size Growth Demand Analysis 2022-2029
The Thermoplastic Polyolefin (TPO) Market is expected to grow at a CAGR of 6.10% during the forecast period 2022-2029. North America region has the highest market share in the Thermoplastic Polyolefin (TPO) Market, and it is further continuing its dominance during the forecast period.
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