Thermoplastic Polyolefins (TPO) Market Size

Thermoplastic Polyolefins Market Size

Global Thermoplastic Polyolefins Market size was valued at over USD 2 billion and is expected to witness over 6% CAGR by 2023./p>

Increasing demand from end use industries such as aerospace, automotive, construction and medical will boost thermoplastic polyolefins market size. Trend to replace polyvinyl chloride with TPO across various sectors owing to rising environmental concerns will fuel market growth./p>

Demand will also be supported by advancements in terms of functionalities such as durability, economical, lightweight, admirable abrasion resistant, UV light stabilizer & antioxidants to resist solar UV radiation and oxidation. It holds properties of both plastic and rubber. It is preferred in regions of extreme weather conditions as it protects the metal and non-metal parts exposed to severe heat./p>

Rapid development in automotive sector in countries like India, Brazil, and China is expected to drive the thermoplastic polyolefins market growth over the forecast period. In automotive marketplace, the product is utilized in making door panels, air dams and fender flares. They are preferred over elastomers and other polymers due to their ease of processing, greater design freedom, light weight and ability to be recycled./p>

Growth in construction output tends to contribute towards thermoplastic polyolefins industry demand as it finds applications in commercial & residential roofing. This can be attributed to its properties like weathering resistance and cold temperature flexibility. TPO roofing systems provide vital reflectivity and energy efficiency well as strong resistance to ultraviolet radiations. Hence usage of TPO in roofing systems reduces the heat gains of building./p>

Propylene and ethylene are two key products in the polymers industry. Instability in crude oil price in the coming years due to political instability may impact thermoplastic polyolefins market price trend. In 2015, ethylene witnessed a strong price increase despite of reduction in crude oil price. This can be due to tightening supply demand scenario owing to the robust demand from petrochemical products. Rubber and reinforcing polymers are also used in manufacturing of TPO process.