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The Thermoplastic Polyolefin (TPO) Market Size was valued at USD 5.4 billion in 2023 and is expected to reach USD 9.6 billion by 2032 and grow at a CAGR of 6.5% over the forecast period 2024-2032.
Thermoplastic polyolefins are high-performance materials made from polypropylene. They are a mix of semi-crystalline polyolefin thermoplastic and amorphous elastomeric parts. They are made by mixing polypropylene material with ethylene propylene diene monomer rubber or ethylene propylene rubber. Also, there is no step called "vulcanization" in the process of making them. They make the material more flexible and hard to break. They have great qualities like being resistant to chemicals and lasting well in bad weather. This means they can be used in a wide range of end-use applications, such as building and construction, industrial, home appliances, automotive, medical, and others.
Drivers:
Increasing use of Tpos in both the outside and inside of cars will drive the market.
The market will be driven by steady growth in the building and construction industry.
More repair and maintenance work is being done with TPO waterproofing membrane.
Restraints:
Changes in the prices of raw materials
Opportunity:
Other thermoplastic polymers can be replaced with Tpos on the inside.
Increasing use of EVs around the world will give the market a chance to grow.
New applications are creating more demand.
Demand from the packaging industry is going up
Challenge:
More and more people are recycling plastic.
The COVID-19 pandemic caused the supply chain to break down, production to stop, demand to go down, and spending per person to go down around the world. All of these things hurt the TPO market. But as the economy recovers from the recession and the COVID-19 pandemic and as more Electric Vehicles (EVs) are sold around the world, the demand for TPO is expected to rise by a lot in the coming years. The APAC automotive industry is growing, TPO is good for the environment, and the TPO processing industry is getting better. All of these things are likely to boost the market. The main things that slow down the TPO market are the fluctuating prices of raw materials and the technical challenges of making low-cost TPO products.
By Type
In-situ TPO
Compounded TPO
POEs
By Application
Automotive
Building & Construction
Medical
Wire & Cables
Others
The Thermoplastic Polyolefins Market is spread out over five regions: Latin America, Europe, North America,Asia-Pacific and the Middle East and Africa. Among these, North America has become the largest market, and it is expected to grow at a moderate CAGR from 2024 to 2032. This is because the automotive sector is growing at an average rate, while the medical sector is growing quickly. Even more, North America is split into the U.S. The U.S. has the largest share of the regional thermoplastic polyolefins market and is expected to grow at a healthy CAGR during the assessment period. This is because major market players are spending more on research and development. After the U.S. comes Canada, which is expected to have moderate growth because its pharmaceutical industries are getting bigger. Because there are car companies in Europe, it is thought that the market there will grow faster than average. In Europe, countries like Germany, the United Kingdom, France, Italy, and Russia are major contributors to the growth of the regional market. It is expected that these countries will continue to dominate the market because thermoplastic polyolefins are used so often to make automotive parts.
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REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Johns Manville, S&E Specialty Polymers (U.S.), SABIC (Saudi Arabia), Noble Polymers (U.S.), INEOS Olefins & Polymers (UK),Exxon Mobil Corporation (U.S.,A Berkshire Hathaway Company (U.S.), The Hexpol group of companies (U.S.), Sumitomo Chemical Co., Ltd. (Japan), Arkema SA (France), LyondellBasell (the Netherlands), RTP Company (U.S.).
Report Attributes | Details |
---|---|
Market Size in 2023 | US$ 5.4 Billion |
Market Size by 2032 | US$ 9.6 Billion |
CAGR | CAGR of 6.5% From 2023 to 2030 |
Base Year | 2023 |
Forecast Period | 2024-2032 |
Historical Data | 2020-2022 |
Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
Key Segments | • By Type (In-situ TPO, Compounded TPO, POEs) • By Application (Automotive, Building & Construction, Medical, Wire & Cables, Others) |
Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
Company Profiles | Johns Manville, S&E Specialty Polymers (U.S.), SABIC (Saudi Arabia), Noble Polymers (U.S.), INEOS Olefins & Polymers (UK),Exxon Mobil Corporation (U.S.,A Berkshire Hathaway Company (U.S.), The Hexpol group of companies (U.S.),Sumitomo Chemical Co., Ltd. (Japan), Arkema SA (France), LyondellBasell (the Netherlands), RTP Company (U.S.) |
DRIVERS | • Increasing use of Tpos in both the outside and inside of cars will drive the market. • The market will be driven by steady growth in the building and construction industry. • More repair and maintenance work is being done with TPO waterproofing membrane. |
Restraints | • Changes in the prices of raw materials |
Ans: Primary or secondary type of research done by this reports.
Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.
Ans: Johns Manville, S&E Specialty Polymers (U.S.), SABIC (Saudi Arabia), Noble Polymers (U.S.), INEOS Olefins & Polymers (UK),Exxon Mobil Corporation (U.S.,A Berkshire Hathaway Company (U.S.), The Hexpol group of companies (U.S.),Sumitomo Chemical Co., Ltd. (Japan), Arkema SA (France), LyondellBasell (the Netherlands) and RTP Company (U.S.)are the major key players of Thermoplastic Polyolefin (TPO) Market.
Ans: More and more people are recycling plastic are the challenges faced by the Thermoplastic Polyolefin (TPO) Market.
Ans: The Thermoplastic Polyolefin (TPO) Market Size was valued at USD 5.4 billion in 2023 and is expected to reach USD 9.6 billion by 2032 and grow at a CAGR of 6.5% over the forecast period 2024-2032.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8.Thermoplastic Polyolefin (TPO) Market Segment, By Type
8.1 In-situ TPO
8.2 Compounded TPO
8.3 POEs
9.Thermoplastic Polyolefin (TPO) Market Segment, By Application
9.1 Automotive
9.2 Building & Construction
9.3 Medical
9.4 Wire & Cables
9.5 Others
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 USA
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4 Asia-Pacific
10.4.1 Japan
10.4.2 South Korea
10.4.3 China
10.4.4 India
10.4.5 Australia
10.4.6 Rest of Asia-Pacific
10.5 The Middle East & Africa
10.5.1 Israel
10.5.2 UAE
10.5.3 South Africa
10.5.4 Rest
10.6 Latin America
10.6.1 Brazil
10.6.2 Argentina
10.6.3 Rest of Latin America
11. Company Profile
11.1 Johns Manville
11.1.1 Financial
11.1.2 Products/ Services Offered
11.1.3 SWOT Analysis
11.1.4 The SNS view
11.2 S&E Specialty Polymers (U.S.)
11.2 SABIC (Saudi Arabia)
11.3 Noble Polymers (U.S.)
11.4 INEOS Olefins & Polymers (UK)
11.5 Exxon Mobil Corporation (U.S.)
11.6 A Berkshire Hathaway Company (U.S.)
11.7 The Hexpol group of companies (U.S.)
11.8 Sumitomo Chemical Co., Ltd. (Japan)
11.9 Arkema SA (France)
11.10 LyondellBasell (the Netherlands)
11.11 RTP Company (U.S.)
12.Competitive Landscape
12.1 Competitive Benchmark
12.2 Market Share analysis
12.3 Recent Developments
13. Conclusion
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