Thermoplastic Polyolefins Market Forecast

Rising application scope in automotive, construction and medical industry will drive the thermoplastic polyolefins market growth. Technological innovations in automobile component production led to increasing uses due to its light weight properties.


Emerging trend to replace PVC due to rising ecological concerns will fuel the market growth. Excellent abrasion resistance, high strength, light weight, low costs, resistance to UV radiation and oxidation are the substantial properties encouraging usage in various applications.


Central & South America (CSA) is estimated to register over 7% CAGR up to 2023. Expansion in packaging, e-commerce and medical industry will support this growth. Brazil thermoplastic polyolefins market size will witness CAGR around 8% by 2023 in industrial applications.


Construction application will witness CAGR over 5% up to 2023. Rising applications in commercial and residential roofing coupled with rapid urbanization and rising disposable income will trigger the thermoplastic polyolefins demand in this application. Weather resistance and flexibility at low temperatures are the beneficial properties driving industry growth.


Rapid industrialization and expansion in automotive industries particularly in China, Germany, India and Brazil will enhance the product penetration. Automobile applications is estimated to observe gains over 6% up to 2023. Technological advancement in reducing automobile weight, improving fuel efficiency and reducing CO2 emissions will support the product demand.


U.S. thermoplastic polyolefins market generated revenue over USD 700 million in 2015. Rising application scope in packaging and medical industry will drive regional demand. Europe will surpass USD 1 billion revenue by 2023, with UK and Germany being the key contributors. Rising product substitute over conventional elastomers and thermoplastics in automotive and medical industry will enhance the industry demand.


Asia Pacific thermoplastic polyolefins market size in automotive application will surpass USD 900 million by 2023. China and Japan will be the major contributors of this revenue. Increasing rubber consumption in automotive and construction industry will support industry growth.


Global thermoplastic polyolefins market share is moderately competitive. The key industry participants include Lyondell Basell, Dow Chemicals, Hitachi Automotive Systems Americas Inc, DuPont, RTP, SABIC, INOES, and Saudi Aramco.


Source:https://www.marketwatch.com/press-release/Thermoplastic-Polyolefins-Market-2019-By-Industry-Trends-Statistics-Key-Companies-Growth-and-Regional-Forecast-To-2023-2019-04-26