The global thermoplastic polyolefins (TPO) market is expected to reach USD 3.43 billion by 2020,
according to a new study by Grand View Research, Inc. Increasing application
scope in automotive and construction sectors of the emerging markets in Asia,
especially China and India is expected to be a key growth factor for TPO. High
capacity to demand ratio and raw material price fluctuations are expected to be
key challenges for market participants.
Automotive industry is
the largest TPO consumer, accounting for over 75% of total market in 2013. With
further research conducted to explore its utility as feedstock and
substitution, TPO market volume is expected to grow at a CAGR of 6.4% from 2014
to 2020. Robust growth is also expected for emerging applications such as
packaging, construction and healthcare.
Browse full report by Grand View Research:
Further
key findings from the study suggest:
·
The global market for TPO was 866.2 kilo
tons in 2013 and is expected to reach 1334.7 kilo tons by 2020, growing at a
CAGR of 6.4% from 2014 to 2020.
·
Automotive was the most dominant
application for TPO as the segment accounted for 75.48% of total market volume
in 2013 and is estimated to grow at a CAGR of 6.6% till 2020. Other
applications including packaging, construction and other niche segments
accounted for a consolidated 24.52% of the market volume for the same year.
·
North America and Asia Pacific have been
leading in the volume consumption of TPO with shares of 37% and 35%
respectively and their CAGR from 2014-2020 being 6.2% and 7% respectively.
·
Key companies in the market include Arkema
SA, Chemtura, Dow Chemical Company, ExxonMobil and SABIC.
Browse
more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/specialty-bio-based-and-water-soluble-polymers
Grand View Research has
segmented the TPO market on the basis of type, application and region:
Global Thermoplastic Polyolefins Application Outlook
(Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• Automotive
• Others (Construction, packaging, healthcare)
Thermoplastic Polyolefins Regional Outlook (Volume, Kilo tons; Revenue, USD Million, 2012 - 2020)
• North America
• Europe
• Asia Pacific
• RoW
• Automotive
• Others (Construction, packaging, healthcare)
Thermoplastic Polyolefins Regional Outlook (Volume, Kilo tons; Revenue, USD Million, 2012 - 2020)
• North America
• Europe
• Asia Pacific
• RoW
Access press release by Grand View Research: http://www.grandviewresearch.com/press-release/global-thermoplastic-polyolefins
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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