Market for Thermoplastic Polyolefin (TPO) could reach $6.2 billion by 2026

According to a new market research report, the “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.

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This report also provides a comprehensive analysis of the companies listed below:

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.

Merger & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Thermoplastic Polyolefin (TPO) market.

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Dow Inc, In 2019, Dow formed a separate identity and commenced its operations along with DuPont and Corteva. The newly restructured Dow has four segments: industrial intermediaries & infrastructure, performance material & coatings, packaging & specialty plastics, and corporate. The company specializes in TPO elastomers and sells them through the packaging & specialty plastics segment. The company mainly serves applications in the automotive, consumer goods, wires & cables, and construction industries. Dow has over 109 manufacturing facilities in 31 countries across the globe. The strong global presence has allowed the company to develop strong value chains. The company offers TPO under the brand name,” Engage.”

Mitsui Chemicals, Mitsui Chemical is engaged in manufacturing and sales of chemical products. The company develops, manufactures, and maintains product portfolio in various categories such as chemicals, polymers, resins, high performance chemicals, fibers & textiles, agriculture, and electronics. Mitsui Chemical has four major business segments—basic materials, mobility, health care and food & packaging.

Exxon Mobil Corporation, ExxonMobil is an oil and natural gas conglomerate, mainly engaged in exploring and producing oil and natural gas. It is also involved in producing and selling fuel, petrochemicals, and lubricants, among other products. The company has several divisions and hundreds of affiliates categorized under ExxonMobil, Mobil, Exxon, Esso, and XTO. It operates its business through three business segments—upstream, downstream, and chemical. The company offers TPO under the brand name, “Vestamid” and “Exxtral Performance Polyolefins.”