Dublin, Sept. 28, 2022 (GLOBE NEWSWIRE) -- 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/ft7rl
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