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Thermoplastic Polyolefin (TPO) Market - Global Industry Analysis

Thermoplastic Polyolefin (TPO) Market For Automotive, Building & Construction, Home Appliances, Medical, Industrial, Footwear, And Other Applications: Global Industry Perspective, Comprehensive Analysis And Forecast, 2020 – 2028

Published Date: 23-Aug-2021 Category: Chemical & Materials Report Format : PDF Pages: 140 Report Code: ZMR-2040 Status : Published

The Global Thermoplastic Polyolefin (TPO) Market was accounted for USD 3.27 Billion in 2020 and is expected to reach USD 5 Billion by 2028, growing at a CAGR of around 5.3% between 2021 and 2028.

Description

Market Overview     

The Global Thermoplastic Polyolefin (TPO) Market was accounted for USD 3.27 Billion in 2020 and is expected to reach USD 5 Billion by 2028, growing at a CAGR of around 5.3% between 2021 and 2028.    

The shift in trend to exchange polyvinyl chloride due to growing environmental concerns in major end-use industries like automotive and construction round the world has been boosting the demand for thermoplastic polyolefins within the recent past. PVC contains phthalates, which are considered to be harmful to the environment. TPOs represent a member of an outsized group of thermoplastic elastomers (TPEs). TPOs a bit like other members of TPE family including TPV, TPU, etc. have rubber-like properties but a process like polymers which makes them highly suitable for top performance applications during a sort of end-use industries. Advancements in terms of functionalities like abrasion resistance, economical, durability, lightweight, antioxidants & UV light stabilizer to resist solar UV radiation and oxidation will make the merchandise highly preferable in regions of utmost weather.

Global Thermoplastic Polyolefin Market Size

COVID-19 Impact Analysis

The COVID-19 outbreak has hit commercial platforms hard which could stall development in emerging markets. Due to government-imposed lockdowns to prevent the spreading of COVID, the global Thermoplastic Polyolefin (TPO) industry has seen a small decrease in revenues in the short term. Because of the pandemic, the production and global supply chain of various industries stopped operating around the world. However, the global markets are slowly opening to their full potential and theirs a surge in demand for Thermoplastic Polyolefin (TPO) as the demand in the Automotive and healthcare industry is increasing continuously. The market would remain optimistic in the upcoming year. 

Growth Factors

High product demand across automotive and construction activities will steer the event of the thermoplastic polyolefin market within the years to return. Aside from this, a rise within the sales of tires also as rubber items will create lucrative profit for the thermoplastic polyolefin market within the foreseeable period. Technological challenges alongside oscillating staple costs, however, can impede the thermoplastic polyolefin market during the forecast timeline. Nevertheless, the wide applications of the merchandise will create new avenues for the global thermoplastic polyolefin market within the forthcoming years, thereby normalizing the impact of hindrances on the market, reports the study.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Application Segment Analysis Preview   

Based on applications, the global thermoplastic polyolefin market is bifurcated into automotive, building & construction, home appliances, medical, industrial, footwear, and others.  The automotive industry is a key segment in the application of TPOs and is dominating the application market in terms of volume and revenue in 2020. The development of the automotive industry mainly in the emerging economies of BRICS is anticipated to boost the future demand for TPOs. China is the largest automobile manufacturing country in the world. In addition, Brazil and India are listed in the top 10 automobile manufacturing countries. These markets are considered to be highly profitable for automobile manufacturing both in terms of consumption and production.

Global Thermoplastic Polyolefin Market Report Share

Regional Segment Analysis Preview   

Globally, North America has been leading the worldwide thermoplastic polyolefin market and is anticipated to continue on the dominant position within the years to return. The rapid climb of commercial & construction applications is that the main factor behind the dominance of the North American thermoplastic polyolefin market. Additionally, strict legislation concerning fuel conservation across the automotive industry is another significant factor that's supporting the expansion of this regional thermoplastic polyolefin market.

Global Thermoplastic Polyolefin Market Regional Analysis

Key Market Players & Competitive Landscape

Key industry players include Sumitomo Chemical Company, Arkema S.A., LyondellBasell Industries, ExxonMobil Corporation, Dow Chemical Company, S&E Specialty polymers, DuPont, INEOS Chemicals Company, Saudi Aramco Company, A. Schulman, Mitsui & Company Limited, SABIC Chemical manufacturing company, Noble polymers, and Polisystem UK Limited.

The global Thermoplastic Polyolefin (TPO) Market is segmented as follows:

By Application

  • Automotive
  • Building & Construction
  • Home Appliances
  • Medical
  • Industrial
  • Footwear
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter No. 1: Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2: Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Application
        • 2.1.1.2. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Thermoplastic Pulyulefin (TPO) Market, 2016 – 2028 (USD Billion)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3: COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter No. 4: Thermoplastic Pulyulefin (TPO) Market – Application Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Application, 2020 & 2028
    • 4.2. Automotive
      • 4.2.1. Market Size and Forecast, By Region (USD Billion)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Building & Construction
      • 4.3.1. Market Size and Forecast, By Region (USD Billion)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.4. Home Appliances
      • 4.4.1. Market Size and Forecast, By Region (USD Billion)
      • 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.5. Medical
      • 4.5.1. Market Size and Forecast, By Region (USD Billion)
      • 4.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.5.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.6. Industrial
      • 4.6.1. Market Size and Forecast, By Region (USD Billion)
      • 4.6.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.6.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.7. Footwear
      • 4.7.1. Market Size and Forecast, By Region (USD Billion)
      • 4.7.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.7.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.8. Others
      • 4.8.1. Market Size and Forecast, By Region (USD Billion)
      • 4.8.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.8.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 5: Thermoplastic Pulyulefin (TPO) Market – Region Segment Analysis
    • 5.1. Overview
      • 5.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 5.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Billion)
    • 5.2. North America
      • 5.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 5.2.2. North America Market Revenue, By Application, 2016 – 2028
      • 5.2.5. U.S.
        • 5.2.5.1. U.S. Market Revenue, By Application, 2016 – 2028
      • 5.2.6. Canada
        • 5.2.6.1. Canada Market Revenue, By Application, 2016 – 2028
      • 5.2.7. Mexico
        • 5.2.7.1. Mexico Market Revenue, By Application, 2016 – 2028
    • 5.3. Europe
      • 5.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 5.3.2. Europe Market Revenue, By Application, 2016 – 2028
      • 5.3.5. Germany
        • 5.3.5.1. Germany Market Revenue, By Application, 2016 – 2028
      • 5.3.6. France
        • 5.3.6.1. France Market Revenue, By Application, 2016 – 2028
      • 5.3.7. U.K.
        • 5.3.7.1. U.K. Market Revenue, By Application, 2016 – 2028
      • 5.3.8. Italy
        • 5.3.8.1. Italy Market Revenue, By Application, 2016 – 2028
      • 5.3.9. Spain
        • 5.3.9.1. Spain Market Revenue, By Application, 2016 – 2028
      • 5.3.10. Rest of Europe
        • 5.3.10.1. Rest of Europe Market Revenue, By Application, 2016 – 2028
    • 5.4. Asia Pacific
      • 5.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 5.4.2. Asia Pacific Market Revenue, By Application, 2016 – 2028
      • 5.4.5. China
        • 5.4.5.1. China Market Revenue, By Application, 2016 – 2028
      • 5.4.6. Japan
        • 5.4.6.1. Japan Market Revenue, By Application, 2016 – 2028
      • 5.4.7. India
        • 5.4.7.1. India Market Revenue, By Application, 2016 – 2028
      • 5.4.8. South Korea
        • 5.4.8.1. South Korea Market Revenue, By Application, 2016 – 2028
      • 5.4.9. South-East Asia
        • 5.4.9.1. South-East Asia Market Revenue, By Application, 2016 – 2028
      • 5.4.10. Rest of Asia Pacific
        • 5.4.10.1. Rest of Asia Pacific Market Revenue, By Application, 2016 – 2028
    • 5.5. Latin America
      • 5.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 5.5.2. Latin America Market Revenue, By Application, 2016 – 2028
      • 5.5.5. Brazil
        • 5.5.5.1. Brazil Market Revenue, By Application, 2016 – 2028
      • 5.5.6. Argentina
        • 5.5.6.1. Argentina Market Revenue, By Application, 2016 – 2028
      • 5.5.7. Rest of Latin America
        • 5.5.7.2. Rest of Latin America Market Revenue, By Application, 2016 – 20285
    • 5.6. The Middle-East and Africa
      • 5.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 5.6.2. The Middle-East and Africa Market Revenue, By Application, 2016 – 2028
      • 5.6.5. GCC Countries
        • 5.6.5.1. GCC Countries Market Revenue, By Application, 2016 – 2028
      • 5.6.6. South Africa
        • 5.6.6.1. South Africa Market Revenue, By Application, 2016 – 2028
      • 5.6.7. Rest of Middle-East Africa
        • 5.6.7.1. Rest of Middle-East Africa Market Revenue, By Application, 2016 – 2028
  • Chapter No. 6: Thermoplastic Pulyulefin (TPO) Market – Industry Analysis
    • 6.1. Introduction
    • 6.2. Market Drivers
      • 6.2.1. Driving Factor 1 Analysis
      • 6.2.2. Driving Factor 2 Analysis
    • 6.3. Market Restraints
      • 6.3.1. Restraining Factor Analysis
    • 6.4. Market Opportunities
      • 6.4.1. Market Opportunity Analysis
    • 6.5. Porter’s Five Forces Analysis
    • 6.6. PEST Analysis
    • 6.7. Regulatory Landscape
    • 6.8. Technulogy Landscape
    • 6.9. Regional Market Trends
      • 6.9.1. North America
      • 6.9.2. Europe
      • 6.9.3. Asia Pacific
      • 6.9.4. Latin America
      • 6.9.5. The Middle-East and Africa
    • 6.10. Pricing Analysis
    • 6.11. Value Chain Analysis
    • 6.12. Downstream Buyers
    • 6.13. Distributors/Traders List
  • Chapter No. 7: Competitive Landscape
    • 7.1. Company Market Share Analysis – 2019
      • 7.1.1. Global Thermoplastic Pulyulefin (TPO) Market : Company Market Share, 2019
      • 7.1.2. Global Thermoplastic Pulyulefin (TPO) Market , Company Market Revenue, 2016 – 2019 (USD Billion)
      • 7.1.3. Global Thermoplastic Pulyulefin (TPO) Market , Company Y-o-Y Growth, 2017 – 2028 (%)
      • 7.1.4. Global Thermoplastic Pulyulefin (TPO) Market : Radar Determinant Chart, 2019
    • 7.2. Strategic Developments
      • 7.2.1. Acquisitions & Mergers
      • 7.2.2. New Product Launch
      • 7.2.3. Regional Expansion
    • 7.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 8: Company Profiles
    • 8.1. Sumitomo Chemical Company
      • 8.1.1. Company Overview
      • 8.1.2. Key Executives
      • 8.1.3. Product Portfulio
      • 8.1.4. Financial Overview
      • 8.1.5. Operating Business Segments
      • 8.1.6. Business Performance
      • 8.1.7. Recent Developments
    • 8.2. Arkema S.A.
    • 8.3. LyondellBasell Industries
    • 8.4. ExxonMobil Corporation
    • 8.5. Dow Chemical Company
    • 8.6. S&E Specialty pulymers
    • 8.7. DuPont
    • 8.8. INEOS Chemicals Company
    • 8.9. Saudi Aramco Company
    • 8.10. A. Schulman
  • Chapter No. 9: Marketing Strategy Analysis
    • 9.1. Marketing Channel
    • 9.2. Direct Marketing
    • 9.3. Indirect Marketing
    • 9.4. Marketing Channel Development Trends
    • 9.5. Economic/Pulitical Environmental Change
  • Chapter No. 10: Research Methodulogy
    • 10.1. Research Methodulogy
    • 10.2. Phase I - Secondary Research
    • 10.3. Phase II - Data Modeling
      • 10.3.1. Company Share Analysis Model
      • 10.3.2. Revenue Based Modeling
    • 10.4. Phase III - Primary Research
    • 10.5. Research Limitations
      • 10.5.1. Assumptions

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Thermoplastic Polyolefin market. Zion Research has collected and analyzed key data belong to the global Thermoplastic Polyolefin market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account, while estimating market size. The revenue generated by the leading industry participants in from the sales of Thermoplastic Polyolefin across the world has been calculated through primary and secondary research.

Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in validation of findings from secondary research and to understand key trends in the Thermoplastic Polyolefin industry. Primary research makes up the major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases and market reports

News articles, press releases and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Thermoplastic Polyolefin market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split by segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

Thermoplastic polyolefin (TPO) is the most widely used product in the thermoplastic elastomer family. TPO possesses properties of rubber as well as plastic and is used to handle applications which require functions of both thermoplastics and elastomers for better functioning. TPO has the lowest specific gravities as compared to other thermoplastic elastomers. It is widely used in the production of roofing membrane systems and in the building & construction industry for door panels. It is employed in instrument panels, automotive bumpers, and dashboard skins. TPO is also extensively used in various end-users like medical, footwear, home appliances, and rubber goods.

Increasing demand of TPO in construction and automobile industries is expected to drive thermoplastic polyolefins (TPO) market growth in coming period. The automobile industry is likely to observe a substantial growth over the forecast period due to excellent product properties of TPO like processing ease, thermal resistance, design flexibility, light weight and ability to be recycled, these properties, in turn, increase the use of TPO in automotive industry resulting into growth of the automotive industry in market. Moreover, increasing the choice of replacing polyvinyl chloride with TPO owing to the health issues related to PVC applications is likely to boost TPO market over the forecast period. However, fluctuating prices of raw materials and a risk from substitutes like thermoplastic polyurethane, thermoplastic vulcanizate and polyvinyl chloride to TPO are estimated to hamper the TPO market in coming years.   Moreover, brand visibility and geographical expansion will be major growth strategies adopted by the market players over the coming time frame.

The global TPO market is segmented according to its end- user application and region. On the basis of application, it is divided into automotive, building & construction, home appliances, medical, industrial, footwear, and others. Automotive segment led the global market for TPO owing to its wide use in interior and exterior applications in the automobile industry. This segment contributed to over USD 2 billion to global thermoplastic polyolefins market share in the year 2016 and is likely to witness considerable growth over forecast period owing to outstanding features of TPOs. 

On the basis of region, the global market of thermoplastic polyolefins is divided into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.  The TPO market is dominated by North America in terms of volume with over 36% and is followed by Asia Pacific region with over 33%. Asia Pacific is likely to witness the fastest growth of TPO market with an estimated CAGR of 6% from the year 2014 to 2020. This can be credited to the rapidly growing automotive markets in the emerging countries like India and China. Europe is expected to grow at a slower speed with the slowest CAGR of 5.5 % because of the saturated markets.  

Key industry players include Sumitomo Chemical Company, Arkema S.A., LyondellBasell Industries, ExxonMobil Corporation, Dow Chemical Company, S&E Specialty polymers, DuPont, INEOS Chemicals Company, Saudi Aramco Company, A. Schulman, Mitsui & Company Limited, SABIC Chemical manufacturing company, Noble polymers, and Polisystem UK Limited.


Frequently Asked Questions

The global Thermoplastic Polyolefin (TPO) Market was valued at USD 3.27 Billion in 2020.

The global Thermoplastic Polyolefin (TPO) Market is expected to reach USD 5 Billion by 2028, growing at a CAGR of 5.3% between 2021 to 2028.

The shift in trend to replace PVC (polyvinyl chloride) owing to growing environmental concerns in major end-use industries such as automotive and construction around the world has been boosting the demand for TPOs (thermoplastic polyolefins) in the recent past.

North America region held a substantial share of the Thermoplastic Polyolefin (TPO) Market in 2020.

Key industry players include Sumitomo Chemical Company, Arkema S.A., LyondellBasell Industries, ExxonMobil Corporation, Dow Chemical Company, S&E Specialty polymers, DuPont, INEOS Chemicals Company, Saudi Aramco Company, A. Schulman, Mitsui & Company Limited, SABIC Chemical manufacturing company, Noble polymers, and Polisystem UK Limited.

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