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Thermoplastic Polyolefin MarketForecasted to Reach$7.3 Billion by 2028|MarketsandMarkets Trademark
Browse 225 market data Tables and 44 Figures spread through 219 Pages and in-depth TOC on "Thermoplastic Polyolefin Market"
The Thermoplastic polyolefin Market [https://www.marketsandmarkets.com/Market-Reports/thermoplastic-polyolefin-market-256331319.html] is projected to reach USD 7.3 Billion by 2028, at a CAGR of 6.0% from USD 5.4 Billion in 2023. The increasing demand from the end use industries such as automotive, construction, electronics appliances, and others contribute to the rapid growth in the demand for the Thermoplastic polyolefin market.
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Based on type, the Thermoplastic polyolefin market has been segmented into In situ TPO, Compounded TPO and Polyolefin elastomers (POEs). The POEs segment is the largest market share in value during the forecast period as it offers wide and different applications in various industries. POEs are used in various automotive components due to their durability, weather resistance, and ability to withstand temperature extremes. Examples include gaskets, seals, weather stripping, and vibration dampeners.
Based on application, In terms of value, the global Thermoplastic polyolefin market [https://www.marketsandmarkets.com/ResearchInsight/thermoplastic-polyolefin-market.asp] is divided into automotive, building & construction, medical, wire and cables, and others. The automotive industry is the largest segment of the thermoplastic polyolefin (TPO) market primarily due to the critical need for lightweighting in modern vehicles. TPOs offer an excellent balance of properties, including high strength, low density, and good impact resistance, making them ideal for automotive applications.
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Based on Region, The Asia-Pacific region stands as the largest market for thermoplastic polyolefins (TPOs) owing to a confluence of factors. Firstly, the rapid expansion of the automotive industry in countries like China and India has fueled substantial demand for TPOs in the manufacturing of lightweight, cost-effective automotive components. Secondly, the region is experiencing a construction boom driven by urbanization and economic growth, with TPOs being favored for applications such as roofing membranes and waterproofing materials. Additionally, TPOs find widespread use in consumer goods, packaging, and industrial applications across Asia-Pacific, further solidifying the region's dominance in the TPO market.
The key players in the Thermoplastic polyolefin market are DOW (US), Mitsui Chemical, Inc. (Japan), Exxon Mobil Corporation (Texas), SABIC (Saudi Arabia), Sumitomo Chemicals Co., Ltd. (Japan), LyondellBasell Industries N.V. (Texas), Ineos Group Holdings SA (Switzerland), Borealis AG (Austria), Formosa Plastic Corporation (Taiwan), RTP Company (US). and others.
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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…
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