Thermoplastic Polyolefin (TPO) Market size is estimated to be USD 4.5 billion in 2021 and is projected to reach USD 6.2 billion by 2026, at a CAGR of 6.4% between 2021 and 2026. The compounded TPO accounted for the largest market share of 41% in 2020.
Browse 130 market data Tables and 59 Figures spread through 189 Pages and in-depth TOC on “Thermoplastic Polyolefin (TPO) Market by Type (In-situ TPO, Compounded TPO, & POEs), Application (Automotive, Building & Construction, Medical, Wire & Cables), and Region (APAC, North America, Europe, MEA, South America) – Global Forecast to 2026 “
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APAC accounted for the largest share in the global thermoplastic polyolefin (TPO) market
The TPOs market in APAC accounted for the largest share of the overall market in 2020. The demand for TPO is expected to grow due to the developing construction and automotive sectors. In APAC, Japan dominated the TPOs market in 2020, followed by China and South Korea. The market is projected to register a high CAGR during the forecast period.
The leading players in the thermoplastic polyolefin market are Dow Inc (US), Mitsui Chemical, Inc (Japan), Exxon Mobil Corporation (US), LydondellBasell Industries N.V. (US), Ineos Group Ltd (UK), Boealis AG (Austria), Formossa Plastic Corporation (Taiwan), RTP Company (US), The Mitsubhishi Chemical Holding Group (Japan), and others.
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The companies have initiated the following developments:
- In December 2020, Ineos Group acquired 100% shares in its joint venture “Gemini HDPE” with Sasol Chemicals. The company produces high density polyethylene in LA Porte, Texas.
- In November 2020, Aramco purchased a 70% interest in SABIC from the Public Investment Fund (PIFF), Saudi Arabia’s sovereign wealth fund, for a total purchase price of USD 69.1 billion.
- In November 2019, The company launched VESTAMID e²X, a polyamide-based thermoplastic elastomer, which has excellent transparency and color stability. It is aiming at 3D printing materials with the launch of this thermoplastic elastomer.
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