25 Nov 2020
Thermoplastic polyolefins (TPOs) refer to a class of plastics used in a variety of industries. The main Thermoplastic polyolefins (TPOs) end uses are in the automotive sector followed by the construction industry, packaging applications. Thermoplastic polyolefins are generally produced by the blending of polypropylene with elastic ethylene copolymers and the addition of other fillers and additives. Thermoplastic polyolefins (TPOs) provide better ductility and impact resistance compared to standard off-the-shelf Polypropylene grades. Worldwide TPOs market is witnessing significant growth due to increasing applications and growing demand in Asia-Pacific and other developing regions.
Thermoplastic Polyolefins Market is valued at USD 2.54 Billion in 2018 and expected to reach USD 3.94 Billion by 2025 with the CAGR of 6.5% over the forecast period.
Thermoplastic Polyolefins Market Dynamics –
Increasing utilization of Thermoplastic Polyolefins in automotive industry and growing demand for Thermoplastic Polyolefins as roofing membrane in construction industry is driving the growth of the global thermoplastic polyolefins market. The thermoplastic polyolefins utilization increased for toughness and durability of the building construction and it is the most profitable alternative for most of the traditional building materials. Moreover, growing thermoplastic polyolefins demand in residential & commercial roofing will increase the product requirement in construction sector. There is 2% increases (USD44 billion) in U.S. healthcare construction spending in 2019. Moreover, rise in investment in the global construction sector, specifically in the residential and commercial sector, growing population and urbanization will increase the market growth in forecast period. According to the Our World in Data, more than 4 billion people live in urban areas across the globe. However, fluctuation in raw material prices will hamper the development of thermoplastic polyolefins market. However, growing environmental concerns in domestic sectors and the increasing investment in research and development are expected to boost the opportunity for the growth of thermoplastic polyolefins market.
Thermoplastic Polyolefins Market Regional Analysis –
North America is dominating the thermoplastic polyolefins market with the highest share due to rising awareness about advanced development in thermoplastic polyolefins, rapid economic recovery, growth in population & urbanization and increase in government efforts to enhance residential & public infrastructure. According to the Our World in Data, UN estimates therefore report that 54 percent of people in the world lived in urban areas in 2016 and United Nation projected that 68 % of the world’s population will live in urban areas by 2050.
The Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period with due to the growing environmental concerns in major end-use industries such as automotive and construction, minimize labor cost for production and availability of effective infrastructure in emerging countries, such as China and India. These are the major factors increase the growth of markets in forecast period. National Bureau of Statistics of China, the housing construction area of real estate development enterprises was 8,938.21 million square meters in 2019. According to the National Bureau of Statistics, Building Construction data was reported at 14,882,953.173 RMB mn in Dec 2018 and this records an increase from the previous number of 13,570,352.523 RMB mn for Dec 2017.
Top Thermoplastic Polyolefins Companies:
Shell Chemicals is the petrochemicals arm established in 1929 and headquarter in The Hague. Specialties in Downstream, Bio-Fuels, Integrated Gas, New Energies, Chemicals, Energy, and Upstream.
Mitsubishi Chemical Corporation established in 1933 and headquarter in Chiyoda-ku, Tokyo also the largest Chemical Corporation Companies based in Japan.
A Schulman was an American supplier based in Houston, Texas. Specialties in flame retardant compounds, Ionomers, TPE, Polyethylene, homopolymer polypropylene, olefinic thermoplastic elastomer, elastomers, polypropylene, nylon 6 nylon 66, nylon 12, nylon612, ABS PA blends, Plastics, Resins, and Compounds.
RTP Company established in 1982 and headquarter in Winona, MN. Specialties in requiring color, conductive, elastomeric, flame retardant, high temperature, structural, and wear-resistant properties.
The Dow Chemical Company is an American multinational chemical corporation established in 1897 and headquartered in Midland, Michigan. Specialties in Chemicals, Packaging, Infrastructure, and Consumer Products.
ExxonMobil is the world's largest publicly traded international oil and gas company established in 1999 and headquarter in Irving, Texas. Specialties in oil, gas, petroleum, refining, and chemicals.
Johns Manville is an American corporation established in 1858 and headquarter in Denver, CO. Specialties in building products, fiber glass, insulation products, roofing products, and industrial product.
GAF is a manufacturing company established in 1886 and headquarter in Parsippany, New Jersey. Specialties in Building Materials Manufacturer and Roofing.
Spartech Polycom Inc. provides plastic products established in 1977 and headquarter in Avon Lake, OH. Specialties in aerospace, medical, building and construction, food, automotive, consumer, electronics and appliances, among others.
Rhetech Inc. based in Whitmore Lake, Michigan. Specialties in Filled and Reinforced Polypropylenes, Filled and Reinorced Polyamides and Engineering Plastics, and Color and Additive Masterbatches.
Key Benefits for Thermoplastic Polyolefins Market Reports –
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Global Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
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