- Automotive
- Buildings & Construction
- Home Appliances
- Medical
- Industrial
- Footwear
Asia Pacific Thermoplastic Polyolefin Market size was valued USD billion in 2022 and is poised to grow at a CAGR of x% from 2023-29. The report studies asia pacific thermoplastic polyolefin market dynamics elaborately to identify the current market trends and drivers, future opportunities, and possible challenges to the key stakeholders operating in the market. In addition, the market report includes a competition analysis with vividly illustrated the competition dashboard to assess the market competition. Increase in consumption of polymer products by end-use industries like automotive while manufacturing automotive parts. It results in good tensile strength, corrosion resistance, and noise reduction when metal to metal contact is incurred, in automotive parts. And it tends to boost the thermoplastic polyolefin market size. The thermoplastic polyolefin market is mainly driven by the growing demand for high-performance and environment-friendly materials in the construction and automotive industry. Additionally, the product is progressively being used instead of traditional thermoset rubbers and possesses the capability to be entirely recycled. Moreover, PBI analyzed Asia Pacific thermoplastic polyolefin market to better equip clients with possible investment opportunities across the countries (Country Investment Hot-Spots) and market unmet needs (Product Opportunities).
Increasing demand from end use industries such as aerospace, automotive, construction and medical will boost Asia Pacific thermoplastic polyolefin market size. Trend to replace polyvinyl chloride with TPO across various sectors owing to rising environmental concerns will fuel market growth. Demand will also be supported by advancements in terms of functionalities such as durability, economical, lightweight, admirable abrasion resistant, UV light stabilizer & antioxidants to resist solar UV radiation and oxidation. It holds properties of both plastic and rubber. It is preferred in regions of extreme weather conditions as it protects the metal and non-metal parts exposed to severe heat. Growth in construction output tends to contribute towards Asia Pacific Thermoplastic polyolefin industry demand as it finds applications in commercial & residential roofing. This can be attributed to its properties like weathering resistance and cold temperature flexibility. TPO roofing systems provide vital reflectivity and energy efficiency well as strong resistance to ultraviolet radiations. Hence usage of TPO in roofing systems reduces the heat gains of building. Technological challenges along with oscillating raw material costs, however, can impede the Asia Pacific Thermoplastic polyolefin market during the forecast timeline.
Growth of the automotive industry in Asia Pacific countries will favor the thermoplastic polyolefin market size which is expected to surpass US$ XX Bn by 2027. Use of TPO leads to the reduction in the overall weight of vehicles which increased the fuel efficiency of vehicles and helps to control CO2 emission. India and China TPO market together is forecast to exceed US$ XX Bn by 2027.
Latin America
Europe
Asia Pacific
Middle East
North America
2023 is the base year and 2029 is the forecast year.
The report covers the asia pacific thermoplastic polyolefin market data: China, India, Japan, Australia & New Zealand
The asia pacific thermoplastic polyolefin market key players are LyondellBasell Industries, Schulman Mitsui & Company Limited, ExxonMobil Corporation, The Dow Chemical Company, S&E Specialty Polymers, SABIC Chemical Manufacturing Company, DuPont, INEOS Chemicals Company