Thermoplastic Polyolefins (TPO) Market : Top Manufacturers Analysis, Trend And Demand 2023

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Thermoplastic Polyolefins (TPO) Market Size,
Share, Trends, Growth, Industry Report and
Forecast By 2023
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Global Market Scenario of Thermoplastic
Polyolefins (TPO) Industry

• The global thermoplastic polyolefins market has
  been observing phenomenal gains over the recent
  years subject to the increasing use of plastics
  in plethora of applications spanning various end
  user segments like automotive, construction,
  industrial, and others. Plastics are generally
  used as raw materials or as final product which
  also empowers the overall thermoplastic
  polyolefins market. In fact, the world today
  produces over more than 300 million tons of
  plastics every year, which ironically is used for
  just for a few applications. Undeniably, this is
  poised to push the adoption of thermoplastic
  polyolefins over the years.
• Thermoplastic polyolefins, also known as olefinic
  thermoplastic elastomers are polymer blends that
  are constituted of some fraction of an elastomer,
  a thermoplastic, or rubber. Lately, these polymer
  compounds have been displaying high traction in
  the medical industry on the grounds of their
  impressive features including the likes of design
  versatility, high thermal stability, mutagenic
  potential, crystal clarity, and high resistance.
• However, the expanding automotive industry has
  been gaining humongous gains, thus serving as an
  ideal vertical supporting the growth of
  thermoplastic polyolefins market over the years.

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• Expanding automotive industry a driving force
  towards industry development
• The automotive industry has recently been
  witnessing a stellar growth in use of
  thermoplastic polyolefins and polyolefin-based
  components and parts. Across the automotive
  sector, these compounds not only reduce the
  automobile weight and increase the fuel
  efficiency, but also offer additional comfort,
  reduced air pollution and safety. Reports suggest
  that polyolefins make up approximately 50 of
  plastics found in modern cars.
• It is noteworthy to mention that deployment of
  plastics in vehicles reduce its weight by over
  150 kgs to 200 kgs, while contributing to fuel
  conservation of up to 800L. Consequently, it also
  adds to significant carbon emission reduction.
• An upsurge in demand for TPO has urged various
  auto majors to invest potentially into new
  product launches, company expansion, or
  acquisitions and mergers, enabling them to gain a
  competitive edge over the market rivals present
  in the industry. Citing a vital testament for the
  same, Borealis, a pioneer in polyolefins market,
  announced in 2019 that it was investing in
  production lines expansion for thermoplastic
  olefins and short glass fibers in the province of
  North Carolina.

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360 Industry Analysis

• Unveiling thermoplastic polyolefins industry
  trends across North America
• Amidst the ongoing intense share battle, North
  America thermoplastic polyolefins market,
  particularly led by United States and Canada, has
  been depicting a commendable growth rate over the
  past few years. This growth predominantly comes
  from the products escalating applications in
  automotive, construction, medical, and packaging
  sectors.
• Moreover, it is important to note that North
  America stands as one of the worlds largest
  automobile manufacturing hubs. As per estimates,
  nearly 16.8 million motor vehicles were produced
  in North America. This count provides a proof of
  the burgeoning need for TPO across the region.
• Speaking on these lines, North America TPO market
  is also driven by stringent automotive fuel
  efficiency norms that lay emphasis on the correct
  use of TPO for ensuring the reduction of toxic
  emissions from the vehicle along with ensuring
  its optimum fuel efficiency.
•  

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• Competitive Analysis
• Despite the fact that the TPO market size has
  been observing promising growth trends over the
  years, raw material prices volatility and health
  hazards caused by plastic pollution are
  anticipated to deter the market growth in the
  upcoming years. However, novel innovations and
  advancements in this aspect would stimulate the
  industry outlook in the upcoming years.
• In a nutshell, environmental risks associated
  with PVC usage have produced an upsurge in demand
  for thermoplastic polyolefins over the years.
  Additionally, stringent government norms for
  reduction of GHG emissions with an intent at
  minimizing the environmental pollution are also
  likely to boost the demand for these polyolefins
  over the due course of time.

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