Thermoplastic Polyolefin Market – Overview
Thermoplastic Polyolefin find usage in numerous end use application such as home appliances, medical, industrial, building & construction, automotive, and others. The TPO market is expected to witness strong growth due to their unique properties combined with excellent usage in various end use industries specifically in medical, electronics, construction, automotive, and others. Among the end use industries segment, in 2016, automotive accounted for the largest application segment followed by building & construction. The factors attributed to the segmental growth are rising automotive production and sales in developing countries and continuous growth of construction sector. Furthermore, growing transportation sector base in matured and developing countries along with rising need for high quality Thermoplastic Polyolefin is estimated to propel the growth of the market over the assessment period.
Geographically, North America accounted for the largest market share in 2016 which is followed by Asia Pacific. In North America the Thermoplastic Polyolefin Market is anticipated to exhibit steady growth over the forecast period on account of substantial growth of repair and renovation construction industry in this region. Asia Pacific is predicted to witness excellent growth over the assessment period in Thermoplastic Polyolefin Market due to growing application of thermoplastic polyolefin in numerous end use industries. In Asia Pacific, the demand for Thermoplastic Polyolefin is expected to enhance in several countries such as Indonesia, the Philippines, China, South Korea, Taiwan, India, and Japan on account of enhancing population along with shifting of production units for most of the developed market players in this region. In Europe, Thermoplastic Polyolefin Market is anticipated to register significant growth due to shifting consumer preference towards the Thermoplastic Polyolefin along with high adoption rate in medical, construction, industrial and automotive & other transportation specifically in Italy, Germany, Poland, Belgium, Spain, France, UK, and Russia. Furthermore, several countries of Latin America and the Middle East & Africa are anticipated to witness tremendous growth in Thermoplastic Polyolefin due to rising disposable income combined with sales of thermoplastic polyolefin based product specifically in Mexico, Peru, Chile, Argentina, Brazil, Guatemala, and Venezuela coupled with expanding automotive production unit and building & construction sector specifically in Oman, Israel, UAE, Qatar, Kuwait, Saudi Arabia, and Turkey.
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Industry/ Innovation/ Related News:
January 2018- Polymax, a leading manufacturer of thermoplastic elastomers announced to raise the production capacity. This capacity expansion is estimated to meet the growing demand for thermoplastic polyolefins.
October 2017- Hexpol announced to invest in infrastructure, equipment, and capacity expansion at their location in Germany. This capacity expansion will add around 5000 tonnes per annum and increase total capacity upto 80,000 tonnes per annum. This strategic move will help company to strengthen their position among the Thermoplastic Olefins manufacturer.
June 2017- Finproject SpA, an Italian industrial group announced to acquire Solvay’s Padanaplast unit based in Italy. This strategic move will help company to strengthen their position among the Thermoplastic Polyolefin manufacturers.
June 2016- Borealis, one of the key supplier of polyolefins announced to expand Polyolefin Plastomer portfolio with the launch of three new Polyolefin Elastomers. This product launch will help company to strengthen their product portfolio.
December 2015- Johns Manville announced to planning a second Thermoplastic Polyolefin manufacturing site at Scottsboro facility, U.S. This expansion will help company to meet the increasing demand for thermoplastic olefins in North America.
July 2015- Shanghai Hop Zenith Chemical Trading Co Ltd and R&P ltd announced to establish a joint venture in China to manufacture distribute and market Thermoplastic Polyolefin (TPO) to meet the increasing demand for TPO across the globe.
The Thermoplastic Polyolefin Report has analysed the degree of competition among the key manufacturers in Thermoplastic Polyolefin market as well as sector growth and market scenario. The Global Thermoplastic Polyolefin Market consist of extensive range of manufacturers operating in the market which comprises of moderate scale and large scale producers. The key operating players of Thermoplastic Polyolefin and large level manufacturers which has strong hold in the market have shifted their focus towards growth association specifically by Asia Pacific as moderate level and high level suppliers belongs to this province specifically from the Philippines, Taiwan, Japan, Australia, China, India, South Korea, Malaysia, and Thailand. In addition, the key manufacturers of Thermoplastic Polyolefin are observed to follow various strategic plans to improve their product portfolio such as joint ventures, product launches, distribution agreements, strategic acquisition, and mergers, and exclusive agreements. Key manufacturers in this market are anticipated to enhance their production capacity of Thermoplastic Polyolefin to meet the growing demand for Thermoplastic Polyolefin across the globe.
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