Thermoplastic polyolefins encompass proportions of polyethylene, polypropylene, filler and rubber. The features of thermoplastic polyolefins rely hugely on the allocation and enormity of their microstructure. Thermoplastic polyolefins fall under the category of thermoplastic elastomers. They are made to undergo processing similar to thermoplastic substances and are polymers.
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Thermoplastic polyolefins can be made to undergo processing. This can be done by different procedures. They include profile extrusion, injection molding and thermoforming. Some of the regular application sectors of the thermoplastic polyolefin (TPO) market are automotive parts, roofing membranes, recreation works, construction works, etc.
Rising demand for TPOs across these sectors is expected to drive further growth of the market. The market is estimated to attain about USD 3.4 billion by 2020. Growing applications of TPOs across the sectors of construction and automotives in India and China are also predicted to drive the demand for the thermoplastic polyolefin (TPO) market. This factor also provides future growth prospects to the market.
There has been mounting inclination towards the use of TPOs in place of polyvinyl chloride. This is due to rising ecological apprehensions in primary client sectors, like construction and automotives. Further demand for the thermoplastic polyolefin (TPO) market has been steered ahead by this factor. TPOs process akin to polymers and have features akin to rubber. This makes them apt for high performance applications.
Their rising demand across applications with high performance drives major sales of the thermoplastic polyolefin (TPO) market. The features of TPOs do well and steer the market forward. Expansion in the industry of automotives in the developing regions of BRIC is also projected to drive increased demand for the thermoplastic polyolefin (TPO) market.
The worldwide market is sliced on account of two categories. These are regions and applications. The regions market is divided further in view of Asia Pacific, rest of the world, Europe and North America. The applications thermoplastic polyolefin (TPO) market is divided further on account of packaging, construction, automotives and others niche sectors. Rising demand for TPOs across all these segments is anticipated to boost the sales of this market.
The regions thermoplastic polyolefin (TPO) market was dominated by North America. The region captured around 37 percent share. It was trailed by Asia Pacific. This is also expected to be the most swiftly expanding region during the forecast period. Asia Pacific is estimated to rise at about 7 percent CAGR during 2014 to 2020. This can be credited to its expanding automotive sectors in India and China. North America and Asia Pacific jointly made up for majority of the share in the thermoplastic polyolefin (TPO) market. Europe is predicted to grow sluggishly through the said phase. This is owing to its saturated regions.
The applications market was leaded by automotives. This was with respect to income and volume. Automotives captured the biggest share of about 75 percent. The other secondary application sectors of the thermoplastic polyolefin (TPO) market include molds, films and sheets, fibers and tapes and healthcare. Amplified demand for TPOs across these sectors is also projected to drive the demand for the thermoplastic polyolefin (TPO) market.
Information Source: Grand View Research