Newstrail.com

Sales of Thermoplastic Polyolefin Elastomers Are Projected to Increase at A CAGR of 4.7% During 2021 – 2031

Thermoplastic Polyolefin Elastomers

As per industry analysis on thermoplastic polyolefin elastomers (TPO) by Fact.MR, the global market is estimated to be valued at US$ 1.45 Bn in 2021, and is slated to progress at a steady CAGR of 5% over the forecast period of 2021-2031. Fact.MR,- market research and competitive intelligence provider, delves into the mass as well as niche markets of TPOs, and has reached a conclusion of strong potential in medical application over the short medium term.

In Q2 and Q3 2020, the world faced a deficit of healthcare goods & services, and timely availability of the same could have saved hundreds of thousands of lives across the globe. As such, manufacturers of healthcare equipment & devices have compared the production feasibility among conventional material, and glass and medical plastics such as TPO and PE, among others, and have found that utilizing plastics for the production of medical equipment reduces product delivery time several fold. This not only assists manufacturer in enhancing their margins but keeps their consumers happy over the long-run.

Get Sample Copy With Impact Analysis Of COVID-19 Of Market Report –

https://www.factmr.com/connectus/sample?flag=S&rep_id=6952

Moreover, the healthcare industry, being the foundation of the proper functioning of society, is currently being stressed upon by regional governments by enhancing overall healthcare spending and strong policy actions. Moves such as providing enough boost to TPO manufacturers focussed on providing medical grade TPO are being seen.

Key Takeaways from Market Study

  • The thermoplastic polyolefin elastomers market is anticipated to add 1.5X value by 2031.
  • Collective TPO production capacity of prominent players positioned in North America is around 1,000 KT.
  • Hard components of TPO capture a major chunk of the market and consumption of TPO for manufacturing the same mounted to 1,150 KT in 2020.
  • Among the end uses, medical & healthcare has been the fastest-growing segment globally.
  • Automotive end use is also a prominent end use of this market.

“Demand for lightweight automotive materials to provide throttle to TPO consumption over the long-run forecast period,” says a Fact.MR analyst.

Why Does Economies of Agglomeration Prevail in United States TPO Market?

Over the past half-decade, the United States market burgeoned at 6% CAGR and reached a mark of 550 KT in terms of consumption. Consumption of TPOs is anticipated to increase at a CAGR of 6.2% over the forecast period on the back of strong growth in investments from medical and automotive industries.

Prominent TPO manufacturers positioned in the United States are LyondellBasell, Formosa Plastics, Borealis, Dow, and ExxonMobil, to name a few, who have strong sales with automakers and medical goods manufacturers across the country. Moreover, ease of reach to manufacturers reduces overall truckload costs and enhances overall margins of TPO resin manufacturers in the country.

Competitive landscape

Top players in the thermoplastic polyolefin elastomers market are Borealis, Formosa Plastics, Japan Polypropylene, Lyondellbasell, and Sumitomo Chemicals. These manufacturers reap the benefits of economies of scale and generate competitively higher margins over the amount of product sold.

In 2019, Borealis invested in a polypropylene (PP) compounding plant, which will enhance its supply capabilities of RTPOs and TPOs. This new plant is strategically located in the U.S. and shall serve tier-1 automakers in Southeast United States.

Over the past half-decade, ExxonMobil is on a spree of expanding its thermoplastic elastomer production facilities in the United States. This is on the back of rising demand for plastic automotive parts in the U.S.

Key Companies profiled:

  • HEXPOL AB
  • RTP Company
  • Mitsubishi Chemicals
  • LyondellBasell
  • Celanese
  • Elastron TPE
  • Dow
  • Aurora Plastics LLC
  • ExxonMobil
  • Solvay S.A.

Thermoplastic Polyolefin Elastomers Market: Key Segments

Product Type

  • Blended
  • Dynamically Cross-linked
  • Polymerized

Processing Method

  • Injection Molding
  • Extrusion Molding
  • Blow Molding

Application

  • Soft Components
  • Hard Components

End-use

  • Automotive
  • Exterior
  • Weather Seals
  • Mudguards
  • Air Intake Hose
  • Glass Run Channel
  • Others
  • Interior
  • Dashboard Skin
  • Airbag Cover
  • Seat Backboard
  • Armrest covers
  • Assist Grips
  • Others
  • Building Materials
  • Exterior
  • Interior
  • Consumer Goods
  • Sporting Goods
  • Kitchen appliances
  • Others
  • Electricals & Electronics
  • Wire & Cable insulation
  • Plugs
  • Bushings
  • Connectors
  • Others
  • Medical & Healthcare
  • Syringe Tips
  • Peristaltic Tubes
  • Medical Device Components
  • Others

Key Points Covered in Thermoplastic Polyolefin Elastomers Industry Survey:

  • Market Estimates and Forecasts (2016-2031)
  • Production Capacity Analysis of Prominent Manufacturers
  • Reactor Thermoplastic Polyolefin Elastomer Pricing Analysis
  • Product Pricing Optimization Strategy
  • Rate of Utilization of TPO Elastomers in Roofing
  • Rate of Utilization of TPO Elastomers in Packaging
  • Sales of TPO Resins
  • Demand for TPO in Automotive Sector
  • Demand for Polyethylene (PE) based Thermoplastic Polyolefin Elastomers
  • Demand for Polypropylene (PP) based Thermoplastic Polyolefin Elastomers
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis

Contact:

US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583

Email: sales@factmr.com