Global Thermoplastic Polyolefin Market is expected to grow at a significant rate of around 6% during the forecast period. Thermoplastic Polyolefin (TPO) is defined as a polymer/filler blend that usually consists of some fraction of a thermoplastic, an elastomer, or rubber, and usually a filler. Also, TPO compounds are resin blends of polypropylene (PP) and uncrosslinked EPDM rubber and polyethylene. They are characterized by high impact resistance, low density, and good chemical resistance. Furthermore, TPOs are used for exterior body parts such as bumpers, rocker panels, body seals, automotive gaskets, doors & windows, and other parts. Moreover, many companies are expanding their product portfolio by focusing on launching new products in the market which in turn is also contributing to the growth of the market. For instance, in Dec 2020, SABIC launched a new polyolefin plastomer-based solution for liquid containers with superior leakage resistance.
The Dow Chemical Company, Lyondellbasell Industries Holdings B.V., ExxonMobil Corporation, Mitsui Chemicals, Borealis AG, Mitsubishi Chemical Holdings Corporation, Chevron Phillips Chemical Company LLC, Avient Corporation, A.Schulman, and INEOS Capital Limited are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.
Insights Presented in the Report
“Amongst type, compounded TPO category to witness higher CAGR during the forecast period”
Based on type, the market is segmented into in-situ TPO, compounded TPO, and others. The compound TPO category is to witness a higher CAGR during the forecast period. This is mainly because these are high-performance elastomers designed to improve performance in a wide range of end products and applications. Additionally, properties such as weather resistance and non-degradable to sunlight exposure are also some of the factors due to which they are widely used in the production of roofing and other exterior materials.
“Amongst application, the automotive to hold a significant share in the market in 2020”
On the basis of application, the market is categorized into automotive, building & construction, medical, industrial, footwear, and home appliances. Among these, the automotive to hold a significant share of the market in 2020. The growth of this segment can be attributed to the growing usage of TPO in automobiles mainly because it provides lightweight and highly durable auto parts. In addition, rapid economic growth in various countries leading to improvements in the transportation infrastructure and construction of vehicle production plants are also expected to positively influence the market of this segment in the upcoming years.
“Asia-Pacific to hold a significant share in the market”
In 2020, Asia-Pacific is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the increasing construction and automotive industries. In addition, the growth of the healthcare sector and the development of the renewable energy industry is also driving the growth of the market. Furthermore, increased construction production is contributing to the demand for the thermoplastic polyolefin industry in the Asia-Pacific region as it finds applications in commercial and residential roofing owing to its properties such as weather resistance and cold resistance. Further, the TPO roofing systems offer significant reflectivity and energy efficiency, as well as strong UV resistance. Therefore, the use of the TPO in the roof system reduces the heat gain of the building.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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Table of Contents
Research Methodology for the Thermoplastic Polyolefin Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global thermoplastic polyolefin market were the three major steps undertaken to create and analyze the adoption of thermoplastic polyolefin in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global thermoplastic polyolefin market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the thermoplastic polyolefin market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the thermoplastic polyolefin market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the thermoplastic polyolefin market. Further, we conducted factor analysis using dependent and independent variables such as various type and applications of thermoplastic polyolefin. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the thermoplastic polyolefin market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global thermoplastic polyolefin market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the thermoplastic polyolefin market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global thermoplastic polyolefin market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global thermoplastic polyolefin market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type and application in the global thermoplastic polyolefin market.
The main objective of the Global Thermoplastic Polyolefin Market Study
The current & future market trends of the global thermoplastic polyolefin market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the thermoplastic polyolefin market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of type and application.
- Define and analysis of the regulatory framework for the thermoplastic polyolefin
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the thermoplastic polyolefin market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the thermoplastic polyolefin market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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