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.
In depth research report on Thermoplastic Polyolefins
(TPO) Market
Further key findings from the study 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.
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
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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, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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