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Thermoplastic Polyolefin (TPO) Market to Witness Huge Growth by Key Players: Dow Inc, Mitsui Chemical Inc, Exxon Mobil Corporation, Ineos Group Ltd, RTP Company

01-28-2022 04:44 PM CET | Industry, Real Estate & Construction

Press release from: ReportsnReports

Global Thermoplastic Polyolefin (TPO) Market 2022-2026, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market. An exclusive data offered in this report is collected by research and industry experts team.

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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. 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 report provides a comprehensive analysis of company profiles listed below:
• Dow Inc (US)
• Mitsui Chemical Inc (Japan)
• Exxon Mobil Corporation (US)
• Lydondell Basell Industries N.V. (US)
• Ineos Group Ltd (UK)
• Boealis AG (Austria)
• Formossa Plastic Corporation (Taiwan)
• RTP Company (US)
• The Mitsubhishi Chemical Holding Group (Japan)

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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.

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.

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.

Research Coverage:
This research report categorizes the Thermoplastic polyolefin (TPO) market on the basis of type, by application, and region. The report includes detailed information regarding the major factors influencing the growth of the Thermoplastic polyolefin (TPO) market, such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into business overviews, products & services, key strategies, expansions, new product developments, acquisition and recent developments associated with the market.

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