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 research report on
Thermoplastic Polyolefins Market
Further key findings from
the report 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.
About Grand View Research, Inc:
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, the company offers market intelligence studies ensuring relevant
and fact-based research across a range of industries including technology,
chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
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