Thermoplastic polyolefins are high-performance polypropylene based compound, which has the combination of polyolefin semi-crystalline thermoplastic and amorphous elastomeric components. They are derived from the blending of ethylene propylene diene monomer rubber or ethylene propylene rubber and polypropylene material. Moreover, during their manufacturing process, they do not have any vulcanization step. They improve ductility and offer high impact resistance. They exhibit superior properties such as high chemical resistance and excellent weather durability, which make them suitable for utilization in numerous end-use application such as building & construction, industrial, home appliances, automotive, medical, and others.
As per our analysis, some of the important market factors and trends identified in the Thermoplastic Polyolefins Market are flourishing growth of the automotive industry, rapid industrialization, improved home appliances manufacturing industries. In addition, increasing per capita disposable income combined with rising tendency to own personal vehicle is expected to propel the automotive segment growth which is further likely to fuel the growth of the market. Thermoplastic polyolefins are used in the manufacturing of door panels and roofing membranes in building & construction industry, so rising building and construction activities in developing and developing nations along with high adoption rare from this industry is estimated to fuel the growth of the market during the assessment period, 2017-2023. Furthermore, strict regulations regarding the carbon emission is another favorable factor for the growth of the market. On the other hand, the tremendous growth of the medical industry in developed regions along with the usage of thermoplastic polyolefins based product present a lucrative opportunity for the market growth in the upcoming years. However, fluctuation in raw material prices along with the threat of substitutes such as thermoplastic polyurethane, polyvinyl chloride, and other thermoplastic compounds are estimated to hinder the growth of the market over the assessment period.
The Thermoplastic Polyolefins Market Share by Application (2016), (%)
Source: MRFR Analysis
The Thermoplastic Polyolefins Market is spanned across five regions: Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these, North America emerged as the leading market and is predicted to grow with the moderate CAGR over the forecast period, 2017 to 2023, due to average growth of automotive and significant growth of the medical sector. North America is further segmented into U.S. and Canada, the U.S. accounted for the largest regional Thermoplastic Polyolefins Market Share and is estimated to grow with the healthy CAGR during the assessment period on account of rising expenditure in research and development by the prominent market players. The U.S. is followed by Canada which is expected to register moderate growth owing to rising base for pharmaceutical industries. The European market is estimated to witness above-average growth on account of the presence of automobile manufacturers in this region. In Europe, numerous countries such as Germany, U.K., France, Italy, and Russia are among the major contributors in the regional market growth and is estimated to retain their dominance due to the wide utilization of thermoplastic polyolefins in the manufacturing of automotive components.
Thermoplastic Polyolefins Market in the Asia Pacific is predicted to register tremendous growth on account of burgeoning demand from automotive sector along with high penetration of thermoplastic polyolefins manufacturer in this region. The demand for thermoplastic polyolefins is estimated to surge in various countries such as Japan, China, India, South Korea, Taiwan, Malaysia, Thailand, and Australia on account of increasing construction activities along with favorable government regulations. Furthermore, the huge population along with rapid urbanization in emerging economies are predicted to establish the Asia Pacific as the most lucrative region in the Thermoplastic Polyolefins Market. In Latin America, countries such as Brazil and Mexico are among the dominated region and is estimated to retain their dominance due to continuous demand from the automotive sector. Moreover, the countries of the Middle East and Africa such as Oman, Qatar, Saudi Arabia, the United Arab Emirates (UAE), and Turkey are expected to register a steady growth due to rising building & construction activities in this region. Moreover, increasing consumer spending on home appliances along with the continuous growth of the automotive sector in developing countries of Latin America and the Middle East and Africa is estimated to drive the market growth.
The Thermoplastic Polyolefins Market is categorized on the basis of Application and Region. On the basis of Application, the Thermoplastic Polyolefins Market is classified into automotive, medical, home appliances, building & construction, industrial, and others. Others segment include rubber goods, packaging, wire & cable, battery, and footwear. On the basis of the Region, the Thermoplastic Polyolefins Market is segmented into Latin America, North America, Asia Pacific, Europe, and the Middle East & Africa.
Some of the prominent players operating in the Thermoplastic Polyolefins Market are Exxon Mobil Corporation (U.S.), S&E Specialty Polymers (U.S.), SABIC (Saudi Arabia), INEOS Olefins & Polymers (UK), Johns Manville. A Berkshire Hathaway Company (U.S.), Arkema SA (France), The Hexpol group of companies (U.S.), LyondellBasell (the Netherlands), Sumitomo Chemical Co., Ltd. (Japan), RTP Company (U.S.), Noble Polymers (U.S.) among others.
The Thermoplastic Polyolefins Market Report covers brief analysis of geographical regions such as North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
|Market Size||2030: Significant value|
|CAGR||(2022-2030) : 7.80% CAGR|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Application and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Exxon Mobil Corporation (U.S.), S&E Specialty Polymers (U.S.), SABIC (Saudi Arabia), INEOS Olefins & Polymers (UK), Johns Manville. A Berkshire Hathaway Company (U.S.), Arkema SA (France), The Hexpol group of companies (U.S.), LyondellBasell (the Netherlands), Sumitomo Chemical Co., Ltd. (Japan), RTP Company (U.S.), Noble Polymers (U.S.) among others.|
|Key Market Opportunities||Increasing per capita disposable income combined with rising tendency to own personal vehicle is expected to propel the automotive segment growth|
|Key Market Drivers||Flourishing growth of the automotive industry, rapid industrialization, improved home appliances manufacturing industries.|
Thermoplastic Polyolefins market is predicted to grow through forecast period of 2020-2030.
The forecast period for Thermoplastic Polyolefins market research report is 2020-2030.
Global Thermoplastic Polyolefins market is dominated by North America region.
Exxon Mobil Corporation (U.S.), S&E Specialty Polymers (U.S.), SABIC (Saudi Arabia), INEOS Olefins & Polymers (UK), Johns Manville. A Berkshire Hathaway Company (U.S.), Arkema SA (France), The Hexpol group of companies (U.S.), LyondellBasell (the Netherlands), Sumitomo Chemical Co., Ltd. (Japan), RTP Company (U.S.), Noble Polymers (U.S.) among others.