According to a recent study by Transparency Market
Research (TMR), the global thermoplastic polyolefin (TPO) market is
moderately consolidated with top seven companies collectively
accounting for nearly two-third of the shares in 2015. Out of these,
Exxon Mobil Corporation, Lyondell Basell Industries N.V., and Mitsui
Chemicals, Inc. are ahead of the curve than the rest, maintaining
their stronghold via mergers and acquisitions as well as expanding
capacity and product portfolio. For example, Mitsui Chemicals, Inc.
aspires to add to its TPO facility in Japan and China in the near
future and commence production by 2018.
Browse Market Research Report @
On the other hand, Mitsubishi Chemicals recently
introduced ZELAS, an olefin (base) thermoplastic. ZELAS promises to
be a high-performance thermal plastic with high rubber content,
finding application in automotive interiors and exteriors,
construction materials, and in the medical sector.
According to the TMR estimations, the opportunity in
the global thermoplastic polyolefin market were US$2.3 bn in 2015.
Expanding at a healthy CAGR of 7.3% during the forecast period of
2016 to 2024, the valuation of the market is projected to reach
US$4.3 bn by the end of 2024. DuPont, Dow Chemical, Noble polymers,
Spartech, Arkema S.A, Sumitomo Chemical, SABIC, INOES, A. Schulman,
Saudi Aramco, GAF, and S&E Specialty polymers are some of the
other key players identified by the report in the global TPO market.
Emerging Economies in Asia Pacific Extending
Demand
Based on end-users, the report segments the global
thermoplastic polyolefin market into automotive, home appliances,
building and construction, industrial, footwear, and others including
rubber goods. Out of these, the automotive industry serves the
maximum demand for TPO, accounting for 60% of the share in 2015.
Automotive components made from thermoplastic polyolefin such as door
panels, bumpers, dashboard skins, instrument panels, and trims are
lighter in weight and offer robust durability. With increasing demand
for fuel efficient vehicles, the automotive industry is extending the
application of TPO for various components, which will ensure this
industry to remain most prominent end-user segment of the market
throughout the forecast period.
Fill the form for an exclusive sample of this
report @
Region-wise, North America and Europe serve the
maximum demand for TPO, accounting for 55% of the shares in 2015.
However, with vast population and rapid urbanization, several
emerging economies such as India, China, Japan, and South Korea are
expected to make Asia Pacific the most lucrative region in the global
thermoplastic polyolefin market towards the end of the forecast
period.
Thriving Building and Construction Industry
Propelling Uptake
Apart from the flourishing automotive industry, the
prosperity of building and construction industry is another prominent
factor driving the global thermoplastic polyolefin market. The
building and construction industry uses TPO to manufacture roofing
membranes and door panels, as they offer desirable UV-resistance
along with durability. Moreover, stringent regulations pertaining to
growing environment concerns with increasing carbon emission is
another favorable factor for the global thermoplastic polyolefin
market. On the other hand, volatility of raw material prices and the
threat of substitutes such as polyvinyl chloride, thermoplastic
vulcanizate, and thermoplastic polyurethane are expected to hinder
the growth rate of the market.
According to the lead analyst of the report, “The
medical industry is opening new opportunities for the players in the
global TPO market, utilizing it for insulation and jacketing of wires
and cables in IV sets, home appliances, and urine bags.” The
analyst expects automotive industry to expand the demand at most
prominent rate during the forecast period, with the construction
industry closely behind.
Get Request For Discount On This Report @
The information presented in this review is based on
a Transparency Market Research report, titled, “Thermoplastic
Polyolefin Market (End User - Automotive, Building &
Construction, Home Appliances, Medical, Industrial, and Footwear) -
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
2016 - 2024.”
Key Segments of the Global Thermoplastic
Polyolefin Market
TPO Market – End-user Analysis
- Automotive
- Building & Construction
- Home Appliances
- Medical
- Industrial
- Footwear
- Others (Rubber Goods, etc.)
About
Us
Transparency Market Research (TMR) is a global market intelligence
company providing business information reports and services. The
company’s exclusive blend of quantitative forecasting and trend
analysis provides forward-looking insight for thousands of decision
makers. TMR’s experienced team of analysts, researchers, and
consultants use proprietary data sources and various tools and
techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team
of research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary
research techniques to develop distinctive data sets and research
material for business reports.
Contact Us
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
No comments:
Post a Comment