Global Thermoplastic Polyolefins Market by Product (AutomotiveOthers (Automotive, Healthcare, Packaging) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Industry Insights

In recent years, there has been a shift in demand for TPOs (thermoplastic Polyolefins), which is being replaced by PVC (polyvinylchloride). PVC is a source of phthalates which can be dangerous to the environment. TPOs are a member of the large group of thermoplastic elastic elastomers, (TPEs). TPOs are similar to other members of the TPE family, such as TPV, TPU and others. They have rubber-like characteristics but are made from polymers. This makes them ideal for high-performance applications in many industries. The product is highly desirable in extreme weather regions due to its improved functionalities, such as abrasion resistance and durability, lightweight, antioxidants and UV light stabilizer to resist UV radiation and oxidation.

The main products of the polymers industry are propylene and etherylene. The volatility in crude oil prices due to several geopolitical issues could affect the thermoplastic polyolefins' market price trend. Despite a drop in crude oil prices, 2015 saw a sharp rise in ethylene's price. This can be explained by the strong demand for petrochemical products, which leads to tightening supply and demand. TPO manufacturing uses rubber and other reinforcing materials.

TPOs have a lower price-performance ratio than other TPE members. TPOs, like all TPEs, can be manufactured using standard technologies such as injection molding, blow molding and extrusion. TPOs experienced a decrease in demand in 2008-2009. However, TPOs demand has increased since then due to the recovery of the global automotive industry. The largest end-use sector for TPOs is automotive, and the growth in the automotive industry directly correlates with the growth in the global TPOs market.

Future demand for TPOs will be driven by the expected growth in the automotive industry mainly within emerging economies like BRICS. China is the world's largest automotive manufacturing country. Brazil and India also make up the top 10 automotive manufacturing countries. These markets are highly profitable for automobile manufacturing in terms both of production and consumption.

In order to be able to compete in highly lucrative markets, major automobile companies from the West have opened or moved manufacturing facilities in low-cost countries like Brazil, India, China, and China. Over the forecast period, the market for TPOs will be driven by the growing automotive market in these countries. The market has been hindered by volatility in raw material prices, which has put pressure on producers' profit margins.

The construction industry will see a rise in demand for thermoplastic polyolefins in commercial and residential roofing. TPO's excellent weathering and cold temperature flexibility are some of the reasons for this growing demand. TPO roofing systems reduce heat gain by providing energy efficiency, reflectivity and strong resistance to UV radiations.

Application insights

TPOs are being applied in a major segment of the automotive industry. In terms of revenue and volume, the automotive industry is the largest application market. Automotive accounted for 75.5% in total market volume in 2013, and has been the dominant application segment. From 2014 to 2020, this market is expected to grow at a 6.6% CAGR. The top three major automotive component producers are South Korea, Germany and Japan, followed by Mexico. American Ford, Kia and Audi are among the major automotive component manufacturers. They have announced plans to build production plants in Mexico. TPO can also be used in film & sheets, molds and fibers as well as tapes for medical, packaging, and construction sectors.

Regional insights

North America dominated the TPO market with 37% of its volume in 2013. The Asia Pacific region holds 35% of the market share. Asia Pacific will be the fastest-growing market for TPO with an estimated CAGR 7% between 2014 and 2020. This is due to the expanding automotive markets in India and China. Europe is expected to grow at a slower rate, with a CAGR of 5.9%. This is due to Europe's saturated markets. But, strict regulations regarding automotive fuel efficiency will drive the demand in the region. The use of thermoplastic polyolefins in the automotive industry reduces vehicle weight and improves fuel efficiency. The presence of top automotive OEMs like BMW, Audi and Mercedes Benz in Germany will also increase the potential for thermoplastic polyolefins.

Market share of thermoplastic polyolefins

Arkema SA (France), Chemtura Corp. US, ExxonMobil US (US), and SABIC Saudi Arabia are key players in this market. Other players include INEOS Olefins & PolyOne Distribution, GAF, LyondellBasell, Spartech Polycom, RheTech, Johns-Manville Corporation, Noble Polymers, Cascade Engineering, Shell Chemical, A Schulman, Inc., RTP Company, Sumitomo Chemical, Saudi Aramco, Zylog and Polisystem UK Ltd.

To increase their market share, industry participants are engaging in new product development, regional expansion, mergers and acquisitions. Mitsubishi Chemicals' ZELAS is an olefin-based, high-performance thermoplastic that has a high rubber content. It is used in automotive interior and exterior parts, construction materials, as well as the medical sector. SABIC was affiliated with ExxonMobil Chemicals Co. in 2016 for the construction of a Texas petrochemicals and derivative complex with polyolefins.

The report covers segments

This report forecasts revenue growth and revenue at the global, regional and country levels. It also provides analysis on industry trends for each sub-segment from 2015 to 2020. Up Market Research segmented the global market for thermoplastic polyolefins based on product and region.

• Product Outlook (Revenue USD Million, 2012-2020)

  • Automotive

  • Other (construction, packaging and medical)

• Regional Outlook (Revenue USD Million; 2012-2020)

  • North America

  • Europe

  • Asia Pacific

  • RoW

Up Market Research published a new report titled “Thermoplastic Polyolefins Market research report which is segmented by Product (AutomotiveOthers (Automotive, Healthcare, Packaging), By Players/Companies Inc, Saudi Aramco, GAF, Zylog and Polisystem UK Ltd, Shell Chemical, Chemtura Corp (US), Dow Chemical Company (US), RTP Company, Spartech Polycom, RheTech, A Schulman, Arkema SA (France), ExxonMobil (US) and SABIC (Saudi Arabia) Other players are INEOS Olefins & PolyOne Distribution, Johns-Manville Corporation, LyondellBasell, Noble Polymers (Cascade Engineering), Sumitomo Chemical”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Thermoplastic Polyolefins Market Report Segments:

The market is segmented by Product (AutomotiveOthers (Automotive, Healthcare, Packaging).

Thermoplastic Polyolefins Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Thermoplastic Polyolefins Market

Overview of the regional outlook of the Thermoplastic Polyolefins Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Thermoplastic Polyolefins Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Thermoplastic Polyolefins Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Automotive

                2. Healthcare

                3. Packaging

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Thermoplastic Polyolefins Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Thermoplastic Polyolefins Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.