Global Thermoplastic Polyolefin Market Report 2022: High Demand from Automotive Industry Bolsters Sector

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Oct 10, 2022, 08:45 ET

DUBLIN, Oct. 10, 2022 /PRNewswire/ -- The "Thermoplastic Polyolefin Market Share, Size, Trends By Type, By Application, By End-Use Industry, By Region, Segment Forecast, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.

The demand for polypropylene is increasing considerably, owing to the surging need for syringes and medical vials, and specimen bottles. This is attributable to an increase in vaccination drives in various countries such as Israel, the U.S., and India due to the outbreak of the COVID-19 pandemic.

In addition, the demand for food packaging increased owing to uncertainty or fear of lockdown in many countries. This is attributed to the uncertainty of lockdowns leading to panic buying of food and health products, which correspondingly increased the demand for polypropylene.

They are used in industries such as automotive, building & construction, medical, and others. The automotive segment accounted for a major share in 2021. Modernization of vehicles and rising demand for high-performing vehicles boost the growth of this segment. Increasing consumer inclination toward electric and hybrid vehicles, technological advancements, and rising investments in research and development is expected to offer growth opportunities during the forecast period.

Asia-Pacific accounted for a major share of the global thermoplastic polyolefin market in 2021. Population growth. Industrialization and greater penetration of passenger vehicles support the industry growth in the region. The rising application of the industry in the construction and medical sectors further boosts the adoption in Asia-Pacific. Increasing adoption of electric and hybrid vehicles in the region also fuels growth in this region.

Thermoplastic Polyolefin (TPO) Market Report Highlights

Polyethylene segment is expected to dominate the market during the forecast period owing to increasing application in automotive and medical applications
Injection & molding is expected to be the fastest growing segment during the forecast period on account of technological advancements in the segment
Automotive segment dominated the global market in 2021 due to greater demand for light weight and high performing passenger cars
Asia-Pacific region is expected to dominate the industry during the forecast period. The presence of large consumer base for polyolefins in Asia-Pacific is a major factor contributing toward the growth. Furthermore, established healthcare sector and development of the renewable energy industry boost the industry growth
The global thermoplastic polyolefin market is highly competitive owing to the existence of large industry players with global presence including Alphagary Limited, Borealis AG, DOW Inc. Elastron, Exxon Mobil Corporation, Formosa Plastics Corporation, GAF

The publisher has segmented the thermoplastic polyolefin (TPO) market report based on type, application, end-use industry, and region.:

Thermoplastic Polyolefin (TPO), Type Outlook (Revenue - USD Billion, 2018 - 2030)

Polyethylene
Polystyrene
Polypropylene

Thermoplastic Polyolefin (TPO), Application Outlook (Revenue - USD Billion, 2018 - 2030)

Film & Sheet
Blow Molding
Injection Molding
Others

Thermoplastic Polyolefin (TPO), End-use Industry Outlook (Revenue - USD Billion, 2018 - 2030)

Automotive
Building & Construction
Medical
Others

Thermoplastic Polyolefin (TPO), Regional Outlook (Revenue - USD Billion, 2018 - 2030)

North America
U.S
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Latin America
Argentina
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa

Key Topics Covered:

1. Introduction

2. Executive Summary

3. Research Methodology

4. Global Thermoplastic Polyolefin (TPO) Market Insights

5. Global Thermoplastic Polyolefin (TPO) Market, by Type

6. Global Thermoplastic Polyolefin (TPO) Market, by Application

7. Global Thermoplastic Polyolefin (TPO) Market, by End-use Industry

8. Global Thermoplastic Polyolefin (TPO) Market, by Geography

9. Competitive Landscape

10. Company Profiles

Companies Mentioned

Alphagary Limited
Borealis AG
DOW Inc. Elastron
Exxon Mobil Corporation
Formosa Plastics Corporation
GAF
Hexpol AB
INEOS Group Holdings S.A.
Mitsui Chemicals Inc
Noble Poylmers
Polyone Corporation
Saudi Aramco
Teknor Apex Company
The Mitsubishi Chemical Holding Group

For more information about this report visit https://www.researchandmarkets.com/r/hef1b9

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SOURCE Research and Markets