TPO is a form of thermoplastic elastomer that is extensively used in the automotive, roofing, and construction sectors. It is a polypropylene (PP)/ethylene-propylene rubber (EPR) combination that has both plastic and rubber-like characteristics. TPO is popular for roofing membranes, car interiors, and exterior automotive parts due to its durability, weather resistance, and flexibility. It is also lightweight and inexpensive in comparison to other materials, which has helped to its extensive use in the industry.
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.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=256331319
By Type, Compounded TPO accounts for the largest share of the thermoplastic polyolefin (TPO) market
Compounded TPO is the most utilized type of TPO and accounts for the majority of the thermoplastic polyolefin (TPO) market. TPO is compounded by combining polypropylene (PP) and ethylene-propylene rubber (EPR) with a variety of additives such as stabilizers, fillers, and pigments. These additives can increase the material's qualities like as UV resistance, thermal stability, flame retardance, and impact resistance, allowing it to be used in a wider range of applications. TPO compound is widely utilized in automotive parts, roofing membranes, and other building applications.
Automotive industry account for the largest share of the thermoplastic polyolefin (TPO) market by application
The automobile industry is the major consumer of thermoplastic polyolefin (TPO) and accounts for a sizable portion of the TPO market. TPO is commonly utilized in interior and exterior car elements such as bumper fascias, instrument panels, door panels, and trim. TPO is popular in the automobile sector for a variety of reasons. For starters, it is lightweight, which improves fuel efficiency and lowers pollutants. Second, it is tough and can survive harsh weather and impacts, making it ideal for external parts. Third, it is easily molded and colored, allowing for customization and design versatility.
APAC accounted for the largest share of the global thermoplastic polyolefin (TPO) market
In 2020, the Asia-Pacific (APAC) region held the greatest share of the worldwide thermoplastic polyolefin (TPO) market, and this trend is likely to continue. This is because end-use industries such as automotive, construction, and packaging are expanding rapidly in nations such as China, India, and Japan.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=256331319
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.
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.
Check Out More Related Studies Published by MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441