Sales Of Reactor Thermoplastic Polyolefin Elastomer (TPO) Are Driven By Growing Demand Across The Automotive Vertical

Fact.MR projects the demand for reactor thermoplastic polyolefin elastomer (TPO) to increase by 4% between 2021 and 2031, with the overall consumption reaching 700 KT by 2031.

Increasing automotive production and sales are resulting in high demand for reactor TPOs. Besides this, stringent regulations implemented to curb carbon emissions from vehicles are tipping scales in favor of lightweight vehicles production.

Driven by this, automotive manufacturers are adopting materials such as aluminum, carbon fibers, and plastic. Some are using performance polymers in side beams and bumper fascia to manufacture lightweight vehicles. Consequently, some of the leading automakers are collaborating with plastic/polymer producers to gain access to materials that significantly reduce the weight of vehicles.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗮 𝗙𝗿𝗲𝗲 𝗦𝗮𝗺𝗽𝗹𝗲 𝗖𝗼𝗽𝘆 𝗼𝗳 𝗧𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁: https://www.factmr.com/connectus/sample?flag=S&rep_id=4250?PS

Overall expansion of the automotive sector also is projected to spur demand for reactor TPOs in the forthcoming years. In 2020, however, economic slowdown due to COVID-19 hampered production in the automotive industry. This also created disruptions in reactor TPO supply. Despite this, increasing applications of reactor TPOs in the production of films, tubes and injections used in the medical sector kept the market afloat.

As per the report, the U.S. is expected to dominate the North America reactor thermoplastics polyolefin elastomer (TPO) market. The presence of key manufacturers including Formosa Plastics, Borealis, and LyondellBasell, along with stringent vehicle emission standards adopted in the country will fuel the demand for lightweight materials used in vehicle production, including reactor TPOs.

"The market is expected to gain considerably from the rising production of electric vehicles (EV). Strong EV market growth is indicative of higher demand for lightweight materials to offer greater fuel efficiency in cars. Besides EV, sales of hydrogen-powered cars is surging in the U.S., Korea, and Japan, creating conducive environment for the expansion of the reactor TPO market across these countries," says the Fact.MR analyst.

𝗞𝗲𝘆 𝗧𝗮𝗸𝗲𝗮𝘄𝗮𝘆𝘀 𝗳𝗿𝗼𝗺 𝗥𝗲𝗮𝗰𝘁𝗼𝗿 𝗧𝗵𝗲𝗿𝗺𝗼𝗽𝗹𝗮𝘀𝘁𝗶𝗰 𝗣𝗼𝗹𝘆𝗼𝗹𝗲𝗳𝗶𝗻 𝗘𝗹𝗮𝘀𝘁𝗼𝗺𝗲𝗿 (𝗧𝗣𝗢) 𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝘂𝗿𝘃𝗲𝘆

• Applications of reactor TPO in the automotive sector are projected to account for 87% of the total market share through 2031.

• The demand in the medical segment is anticipated to grow at a 5.3% CAGR through 2031.

• The U.S. will continue dominating the North America reactor thermoplastic polyolefin elastomer (TPO) market, expanding at a 5.3% CAGR through the assessment period.

• Consumption of reactor TPO in China automotive market is anticipated to reach 71 KT by 2031.

• South Korea will emerge as a lucrative reactor TPO market, with sales expected to increase by 1.4x over the forecast period.

• Sales of reactor TPO in Japan are projected to gain 30 BPS during the assessment period.

𝗚𝗿𝗼𝘄𝘁𝗵 𝗗𝗿𝗶𝘃𝗲𝗿𝘀:

• Collaborations between key market players to develop lightweight vehicles that offer greater fuel-efficiency will continue boosting sales of reactor thermoplastic polyolefin elastomers.

• Reactor TPO application will increase in the packaging industry as demand for lightweight and sturdy materials to keep shipments intact grows consistently.

𝗚𝗲𝘁 𝗖𝘂𝘀𝘁𝗼𝗺𝗶𝘇𝗮𝘁𝗶𝗼𝗻 𝗼𝗻 𝘁𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁: https://www.factmr.com/connectus/sample?flag=RC&rep_id=4250?PS

𝗖𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲 𝗟𝗮𝗻𝗱𝘀𝗰𝗮𝗽𝗲

Leading players operating in the global reactor thermoplastic polyolefin elastomer (TPO) are investing in research and development to expand their product portfolio. Apart from this, mergers, acquisitions, and collaborations to expand global footprint will remain prominent growth strategies among key players. For instance:

• In 2019, Borealis announced the opening of a new polypropylene (PP) compounding plant in the U.S., aiming to enhance the supply capabilities of TPOs and reactor TPOs.

𝗞𝗲𝘆 𝗣𝗹𝗮𝘆𝗲𝗿𝘀 𝗶𝗻 𝘁𝗵𝗲 𝗥𝗲𝗮𝗰𝘁𝗼𝗿 𝗧𝗵𝗲𝗿𝗺𝗼𝗽𝗹𝗮𝘀𝘁𝗶𝗰 𝗣𝗼𝗹𝘆𝗼𝗹𝗲𝗳𝗶𝗻 𝗘𝗹𝗮𝘀𝘁𝗼𝗺𝗲𝗿 (𝗧𝗣𝗢) 𝗠𝗮𝗿𝗸𝗲𝘁 𝗜𝗻𝗰𝗹𝘂𝗱𝗲:

• SABIC
• Borealis
• BP
• Formosa Plastics
• Hanwha, Hyosung
• Japan Polypropylene
• Lotte Chemicals
• Lyondellbasell
• MOL Slovnaft
• North Huajin Chemical Industries Co., Ltd.
• Prime Polymer
• SINOPEC
• Sumitomo Chemical
• SunAllomer
• Trinseo

𝗦𝗲𝗴𝗺𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻 𝗼𝗳 𝗥𝗲𝗮𝗰𝘁𝗼𝗿 𝗧𝗵𝗲𝗿𝗺𝗼𝗽𝗹𝗮𝘀𝘁𝗶𝗰 𝗣𝗼𝗹𝘆𝗼𝗹𝗲𝗳𝗶𝗻 𝗘𝗹𝗮𝘀𝘁𝗼𝗺𝗲𝗿 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵

By Resin:

• Flexible
• Rigid

By Application:

• Automotive
• Interior
• Side Covers
• Pillars
• Dashboard, Door Panel, and Armrest
• Floor Mat
• Others
• Exterior
• Side Rails
• Side Cladding
• Bumpers
• Others
• Flexible Profiles
• Hoses & pipes
• Roofing Membranes
• Geomembranes
• Foam Sheet
• Residential Flooring
• Packaging
• Rigid
• Flexible
• Medical
• Film
• Tube
• Injected Parts
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• MEA

𝗚𝗲𝘁 𝗙𝘂𝗹𝗹 𝗔𝗰𝗰𝗲𝘀𝘀 𝗼𝗳 𝗖𝗼𝗺𝗽𝗹𝗲𝘁𝗲 𝗥𝗲𝗽𝗼𝗿𝘁: https://www.factmr.com/checkout/4250

𝗞𝗲𝘆 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀 𝗖𝗼𝘃𝗲𝗿𝗲𝗱 𝗶𝗻 𝘁𝗵𝗲 𝗥𝗲𝗮𝗰𝘁𝗼𝗿 𝗧𝗵𝗲𝗿𝗺𝗼𝗽𝗹𝗮𝘀𝘁𝗶𝗰 𝗣𝗼𝗹𝘆𝗼𝗹𝗲𝗳𝗶𝗻 𝗘𝗹𝗮𝘀𝘁𝗼𝗺𝗲𝗿 (𝗧𝗣𝗢) 𝗠𝗮𝗿𝗸𝗲𝘁 𝗥𝗲𝗽𝗼𝗿𝘁

• The report offers insight into reactor thermoplastic polyolefin elastomer (TPO) market demand outlook for 2021-2031

• The market study also highlights projected sales growth for reactor thermoplastic polyolefin elastomer (TPO) market between 2021 and 2031

• Reactor thermoplastic polyolefin elastomer (TPO) market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry

• Reactor thermoplastic polyolefin elastomer (TPO) market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others

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