Thermoplastic Polyolefin (TPO) Market worth $6.2 billion by 2026- Exclusive Report by MarketsandMarkets™ The report "Thermoplastic Polyolefin (TPO) Market by Type (In-situ TPO, Compounded TPO, & POEs), Application (Automotive, Building & Construction, Medical, Wire & Cables), and Region (APAC, North America, Europe, MEA, South America) - Global Forecast to 2026 ", size is estimated to be USD 4.5 billion in 2021 and is projected to reach USD 6.2 billion by 2026, at a CAGR of 6.4% between 2021 and 2026. The compounded TPO accounted for the largest market share of 41% in 2020. Automotive is estimated to be the largest end-use industry of TPOs during the forecast period, followed by building & construction in terms of volume. TPOs are used for exterior body parts such as bumpers, rocker panels, body seals, automotive gaskets, doors & windows, and other parts. Recent developments in TPO have enabled their use in underhood applications in the automobile industry. Get PDF Brochure for Research Insights at https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=256331319 By Type, Compounded TPO account for the largest share of the thermoplastic polyolefin (TPO) market Compounded TPO accounted for the majority share of the TPO market in 2020. These TPOs are high- performance elastomers engineered to improve the performance of a broad range of end-products and applications. The increasing adoption in the automotive industry to reduce the weight of vehicles and improve their fuel efficiency helps to drive the TPOs market. Also, TPOs can be processed by various techniques such as injection molding, profile extrusion, thermoforming, and blow molding. It is weather-resistant and does not degrade on exposure to solar radiation. Hence, it is extensively used in making roofs and other outdoor applications. Automotive industry account for the largest share of the thermoplastic polyolefin (TPO) market by application The automotive industry led the TPOs market in 2020. The TPOs market in the automotive segment is projected to grow owing to increased competition among players to provide lightweight and robust auto parts, growing demand for vehicles, supportive government policies, development of transportation infrastructure,
Thermoplastic Polyolefin (TPO) Industry Continues to Thrive with Promising Future Prospects| MarketsandMarkets™
May 18, 2023
The TPO market is witnessing significant regional growth worldwide. North America leads due to construction and automotive sectors, while Asia Pacific shows promising expansion driven by infrastructure development. Europe and Latin America also contribute to the market's rise, with TPO's versatile applications fueling its increasing demand.
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