The report “Thermoplastic Polyolefin Market by Type (In Situ TPO, Compounded TPO, POEs), Application (Automotive, Building & Construction, Medical, Wire and Cables), Region (North America, Europe, APAC, MEA, South America) – Global forecast to 2028″, is projected to reach USD 7.3 billion by 2028, at a CAGR of 6.0% from USD 5.4 billion in 2023. The Thermoplastic polyolefin market is mainly driven by the demand from various end use industries such as construction, automotive and electronic appliances, others. It is also driven by developing and emerging economies such as US and China.
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- 225 Market data Tables
- 44 Figures
- 219 Pages and in-depth TOC on “Thermoplastic Polyolefin Market – Global Forecast to 2028″
Some of the prominent key players 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)
Driver: Increasing demand for lightweight and durable materials in the automotive and construction industry.
The use of thermoplastic polyolefin (TPO) in various industries such as automotive, aerospace, and transportation is driven by its exceptional lightweight characteristics, which bring about several advantages. In the automotive sector, for instance, reducing the weight of vehicles is of paramount importance to meet stringent fuel efficiency standards and reduce carbon emissions. TPO’s lightweight nature allows automakers to replace heavier materials like metal in various automotive components, including bumpers, interior trim, and exterior body panels, without compromising safety or performance. As a result, vehicles become lighter and more aerodynamic, which translates to improved fuel economy. Lighter vehicles require less energy to operate, leading to reduced fuel consumption and lower greenhouse gas emissions, aligning with the global push for more environmentally friendly transportation solutions.
Restraint: Limited high temperature resistance
Thermoplastic polyolefin (TPO) materials exhibit certain limitations when it comes to high-temperature applications. This is primarily due to the inherent nature of TPO as a thermoplastic, which means that it softens and becomes pliable when exposed to elevated temperatures. Typically softening in the range of 160°C to 180°C (320°F to 356°F), TPO materials can lose their structural integrity and mechanical properties beyond this threshold. Consequently, TPO is not suitable for environments requiring resistance to extreme heat, such as engine components in the automotive industry or industrial processes with high-temperature conditions. In these cases, alternative materials with higher heat resistance, like polyamide (nylon) or polyphenylene sulfide (PPS), are preferred choices. While TPO offers numerous advantages, including cost-effectiveness and durability, careful consideration of its thermal limitations is essential for selecting the appropriate material for applications subject to high temperatures.
Asia pacific is the largest market for thermoplastic polyolefin Market in 2023, in terms of value.
The Asia-Pacific region has emerged as the largest market for thermoplastic polyolefin (TPO) primarily due to a convergence of significant factors. Rapid expansion in the automotive sector, particularly in countries like China and India, has led to a substantial demand for TPO, which is extensively utilized in manufacturing automotive components for lightweight and improved fuel efficiency. Simultaneously, the region is experiencing a construction boom driven by urbanization, population growth, and economic development, making TPO a preferred choice for roofing membranes and waterproofing materials. Additionally, the Asia-Pacific region serves as a major manufacturing center for consumer goods like luggage, toys, and sports equipment, all of which benefit from TPO’s cost-effectiveness and impact resistance. TPO’s versatile properties, coupled with its cost competitiveness, have fueled its widespread adoption across industries, establishing Asia-Pacific as the leading market for TPO materials.
