Press release
Thermoplastic Polyolefin (TPO) Market Share & Trend Analysis is expected to reach USD 8.01 Billion By 2030, Growing CAGR at 6.5%
Thermoplastic polyolefin is an amalgamation of thermoplastic, rubber, and filler. It is usually used in the automotive industry and is lightweight and chemical resistant. It is easily processed in film & sheet, blow molding, injection molding, and other applications.
The demand for polypropylene is increasing considerably, owing to the surging need for syringes and medical vials, and specimen bottles. This is attributable to an increase in vaccination drives in various countries such as Israel, the U.S., and India due to the outbreak of the COVID-19 pandemic.
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In addition, the demand for food packaging increased owing to uncertainty or fear of lockdown in many countries. This is attributed to the uncertainty of lockdowns leading to panic buying of food and health products, which correspondingly increased the demand for polypropylene.
They are used in industries such as automotive, building & construction, medical, and others. The automotive segment accounted for a major share in 2021. Modernization of vehicles and rising demand for high-performing vehicles boost the growth of this segment. Increasing consumer inclination toward electric and hybrid vehicles, technological advancements, and rising investments in research and development is expected to offer growth opportunities during the forecast period.
Asia-Pacific accounted for a major share of the global thermoplastic polyolefin market in 2021. Population growth. Industrialization and greater penetration of passenger vehicles support the industry growth in the region. The rising application of the industry in the construction and medical sectors further boosts the adoption in Asia-Pacific. Increasing adoption of electric and hybrid vehicles in the region also fuels growth in this region.
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Thermoplastic Polyolefin (TPO) Market Report Highlights
•Polyethylene segment is expected to dominate the market during the forecast period owing to increasing application in automotive and medical applications
•Injection & molding is expected to be the fastest growing segment during the forecast period on account of technological advancements in the segment
•Automotive segment dominated the global market in 2021 due to greater demand for light weight and high performing passenger cars
•Asia-Pacific region is expected to dominate the industry during the forecast period. The presence of large consumer base for polyolefins in Asia-Pacific is a major factor contributing toward the growth. Furthermore, established healthcare sector and development of the renewable energy industry boost the industry growth
•The global thermoplastic polyolefin market is highly competitive owing to the existence of large industry players with global presence including Alphagary Limited, Borealis AG, DOW Inc. Elastron, Exxon Mobil Corporation, Formosa Plastics Corporation, GAF
Polaris Market Research has segmented the thermoplastic polyolefin (TPO) market report based on type, application, end-use industry, and region.:
Thermoplastic Polyolefin (TPO), Type Outlook (Revenue - USD Billion, 2018 - 2030)
• Polyethylene
• Polystyrene
• Polypropylene
Thermoplastic Polyolefin (TPO), Application Outlook (Revenue - USD Billion, 2018 - 2030)
• Film & Sheet
• Blow Molding
• Injection Molding
• Others
Thermoplastic Polyolefin (TPO), End-use Industry Outlook (Revenue - USD Billion, 2018 - 2030)
• Automotive
• Building & Construction
• Medical
• Others
View Detailed of Thermoplastic Polyolefin (TPO) Market Research Report, Click The Link Here: https://www.polarismarketresearch.com/industry-analysis/thermoplastic-polyolefin-market
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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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