Thermoplastic Polyolefin Market Size, Share | Industry Trends Analysis Report, 2024
Thermoplastic Polyolefin Market is likely to be worth US$4.3 bn by 2024, expanding at a CAGR of 7.3% from 2016 to 2024, Automotive Sector Leads Global TPO Market by Demand and Revenue
Thermoplastic Polyolefin Market is likely to be worth US$4.3 bn by 2024, expanding at a CAGR of 7.3% from 2016 to 2024, Automotive Sector Leads Global TPO Market by Demand and Revenue
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Significant Growth in Automotive Production in APAC a Promising Factor<br />
TPO is widely used in interior and exterior applications in the automotive industry and any growth in this sector reflects<br />
positively on the global TPO market. “The global automotive production has increased over 15% since 2010, with Asia Pacific<br />
accounting for more than 50% of the global production,” the TMR analyst states. A rising focus on lightweight vehicles and<br />
the implementation of stringent environmental regulations related to carbon emissions bodes well for the TPO market. A<br />
substantial demand for TPO in home appliances and roofing membrane systems is also projected to benefit the global market<br />
in the coming years.<br />
On the down side, the fluctuating prices of raw materials has raised several concerns among manufacturers, thereby<br />
challenging the growth of the TPO market. “Polypropylene is one of the most widely used raw materials for the production of<br />
TPO and the prices of polypropylene have been instable, particularly in Europe, since the last few years owing to high cost of<br />
feedstock,” the author of the study reports.<br />
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This review is based on the findings of a TMR report titled “<strong>Thermoplastic</strong> <strong>Polyolefin</strong> <strong>Market</strong> (End User - Automotive,<br />
Building & Construction, Home Appliances, Medical, Industrial, and Footwear) - Global <strong>Industry</strong> <strong>Analysis</strong>, <strong>Size</strong>, <strong>Share</strong>,<br />
Growth, <strong>Trends</strong>, and Forecast 2016 - <strong>2024</strong>.”<br />
TPO <strong>Market</strong> – End-user <strong>Analysis</strong><br />
Automotive<br />
Building & Construction<br />
Home Appliances<br />
Medical<br />
Industrial<br />
Footwear<br />
Others (Rubber Goods, etc.)<br />
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