Enhanced application scope in automotive, construction and packaging will push global TPO market growth.
San Francisco, California (PRWEB) May 29, 2014
The global market for thermoplastic polyolefins (TPO) is expected to reach USD 3.43 billion by 2020, according to a new study by Grand View Research, Inc. Increasing application scope in automotive and construction sectors of the emerging markets in Asia, especially China and India, is expected to be a key growth factor for TPO. High capacity to demand ratio and raw material price fluctuations are expected to be key challenges for market participants.
Automotive industry is the largest TPO consumer, accounting for over 75% of total market in 2013. With further research conducted to explore its utility as feedstock and substitution, TPO market volume is expected to grow at a CAGR of 6.4% from 2014 to 2020. Robust growth is also expected for emerging applications such as packaging, construction and healthcare.
The report “Thermoplastic Polyolefins (TPO) Market Analysis And Segment Forecasts To 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/thermoplastic-polyolefins-industry.
Request free sample of this report @ http://www.grandviewresearch.com/industry-analysis/thermoplastic-polyolefins-industry/request.
Further key findings from the study suggest:
- The global market for TPO was 866.2 kilo tons in 2013 and is expected to reach 1334.7 kilo tons by 2020, growing at a CAGR of 6.4% from 2014 to 2020.
- Automotive was the most dominant application for TPO as the segment accounted for 75.48% of total market volume in 2013 and is estimated to grow at a CAGR of 6.6% till 2020. Other applications including packaging, construction and other niche segments accounted for a consolidated 24.52% of the market volume for the same year.
- North America and Asia Pacific have been leading in the volume consumption of TPO with shares of 37% and 35% respectively and their CAGR from 2014-2020 being 6.2% and 7% respectively.
- Key companies in the market include Arkema SA, Chemtura, Dow Chemical Company, ExxonMobil and SABIC.
Browse all Specialty Polymers Market Reports available at Grand View Research @ http://www.grandviewresearch.com/industry/specialty-bio-based-and-water-soluble-polymers.
For the purpose of this study, Grand View Research has segmented the TPO market on the basis of type, application and region:
- Global Thermoplastic Polyolefins Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• Others (Construction, packaging, healthcare)
- Thermoplastic Polyolefins Regional Outlook (Volume, Kilo tons; Revenue, USD Million, 2012 - 2020)
• North America
• Asia Pacific
Browse all Grand View Research Upcoming Reports @ http://www.grandviewresearch.com/ongoing-reports.
Latest Report Published by Grand View Research:
Biotechnology Market (Biopharmacy, Bioservices, Bioagriculture, Bioindustrial, Fermentation, DNA sequencing, Tissue Engineering, Regeneration) Analysis And Segment Forecasts To 2020 (http://www.grandviewresearch.com/industry-analysis/biotechnology-market)
The global market for biotechnology is expected to reach USD 604.40 billion by 2020, according to a new study by Grand View Research, Inc. Increasing application scope coupled with the rising demand for effective vaccines and drugs in an attempt to improve healthcare access to patients with unmet medical needs is expected to drive market demand over the next six years.
About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com/.
Corporate Sales Specialist, USA
Grand View Research, Inc
Toll Free: 1-888-202-9519