The report "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 ", 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 compounded TPO accounted for the largest market share of 41% in 2020. Automotive is estimated to be the largest end-use industry of TPOs during the forecast period, followed by building & construction in terms of volume. TPOs are used for exterior body parts such as bumpers, rocker panels, body seals, automotive gaskets, doors & windows, and other parts. Recent developments in TPO have enabled their use in underhood applications in the automobile industry.
Get PDF Brochure for Research Insights at https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=256331319
By Type, Compounded TPO account for the largest share of the thermoplastic polyolefin (TPO) market
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. It is weather-resistant and does not degrade on exposure to solar radiation. Hence, it is extensively used in making roofs and other outdoor applications.
Automotive industry account for the largest share of the thermoplastic polyolefin (TPO) market by application
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 building & construction industry accounted for 20% of the overall market in terms of volume in 2020. In the building & construction industry, TPOs are used for roofing membranes, waterproofing, carpeting, wall coverings, and other components.
Share Your Requirements & Get Customized Reports at https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=256331319
APAC accounted for the largest share in the global thermoplastic polyolefin (TPO) market
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.
North America accounted for the second-largest share of 30.2% of the overall TPOs market, in terms of volume, in 2020. The high demand is due to the growing automotive sector. 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. The US accounted for the largest share of the market in North America in 2020 and is projected to register a CAGR of 5.5% in terms of volume between 2021 and 2026, followed by Canada.
If You Want To Know More About Report Before Buying at https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=256331319
The leading players in the thermoplastic polyolefin market are Dow Inc (US), Mitsui Chemical, Inc (Japan), Exxon Mobil Corporation (US), LydondellBasell Industries N.V. (US), Ineos Group Ltd (UK), Boealis AG (Austria), Formossa Plastic Corporation (Taiwan), RTP Company (US), The Mitsubhishi Chemical Holding Group (Japan), and others.
Read Our Trending Press Release Below:
Cladding Systems Market- https://www.abnewswire.com/pressreleases/cladding-systems-market-will-achieve-us-3069-billion-by-2026-at-a-cagr-of-56-exclusive-report-by-marketsandmarkets_621442.html
Automotive Plastics Market for Passenger Cars- https://www.abnewswire.com/pressreleases/global-automotive-plastics-market-to-surpass-a-valuation-of-us-308-billion-by-2026-at-a-cagr-of-79-exclusive-report-by-marketsandmarkets_621430.html
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 Micro Quadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Thermoplastic Olefin (TPO) market is segmented by region (country), players, by Type, and by Application.
Players, stakeholders, and other participants in the global Thermoplastic Olefin (TPO) market will be able to gain the upper hand as they use the report as a powerful resource.
The segmental analysis focuses on revenue and forecast by region (country), by Type and by Application in terms of revenue and forecast for the period 2015-2026.Segment by Type, the Thermoplastic Olefin (TPO) market is segmented into:PolypropylenePolyethyleneThermoplastic ElastomersOthersDownload FREE Sample of this Report @ https://www.24chemicalresearch.com/download-sample/59872/global-china-thermoplastic-olefin-2026-105Segment by Application, the Thermoplastic Olefin (TPO) market is segmented into:AutomotiveBuilding & ConstructionApplianceRegional and Country-level Analysis:The Thermoplastic Olefin (TPO) market is analysed and market size information is provided by regions (countries).The key regions covered in the Thermoplastic Olefin (TPO) market report are North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
It also covers key regions (countries), viz, U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Mexico, Brazil, Turkey, Saudi Arabia, U.A.E, etc.The report includes country-wise and region-wise market size for the period 2015-2026.
It also includes market size and forecast by Type, and by Application segment in terms of sales and revenue for the period 2015-2026.Competitive Landscape and Thermoplastic Olefin (TPO) Market Share Analysis:Thermoplastic Olefin (TPO) market competitive landscape provides details and data information by players.
The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2015-2020.
The global thermoplastic polyolefin (TPO) market features a moderately consolidated landscape, as the leading seven manufacturers accounted for over 60% in the global market in 2015, finds Transparency Market Research (TMR).
The leading three companies—Mitsui Chemicals, Inc., Exxon Mobil Corporation, and LyondellBasell Industries N.V.—enjoy a better hold over the competitive dynamics that the rest top players.
Mergers and acquisitions and capacity expansions are few of the prime strategic moves engaged by them to maintain their sway in the global market.
Some of the other prominent players operating in the market are Chevron Phillips Chemical Company, Mitsubishi Chemical Holding Corporation, and INEOS Group Limited.
Emerging regions such as in Asia Pacific are proving to be lucrative for these players.TMR observes that the competitive intensity in the global market throughout the assessment period is likely to remain high.
Grab an exclusive PDF sample of this report hereThe global TPO market stood at US$2.3 billion in 2015 and is projected to reach a valuation of US$4.3 billion by the end of 2024.
