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: www.grandviewresearch.com/industry-analysis/thermoplastic-polyolefins-industry
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.
Browse more
reports of this category by Grand View Research: 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
Access
Press Release By Grand View Research: 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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