Thermoplastic Polyolefins Market Analysis 2021-2027 | Keyplayers - Exxon Mobil Corporation (U.S.), Arkema SA (France), S&E Specialty Polymers (U.S.)
Thermoplastic polyolefins are thermoplastic
polypropylene-based polymer engineered to provide greater ductility and impact
resistance and are composed of thermoplastic, an elastomer such as rubber, and
a filler. The global thermoplastic polyolefins market is projected to surge
owing to growing demand from end users and growing spectrum of applications.
According to Market Research Future (MRFR), the global
thermoplastic polyolefins market is expected to garner a moderate CAGR over the
assessment period (2016-2023).
The growing end users such as the automobile industry and
applications are the largest driver of the thermoplastic polyolefins market.
The attractive physical and chemical properties of thermoplastic polyolefins
such as resistance to solar and UV radiation is driving a large adoption in the
construction industry.
Other industries such as the medical devices are also
favouring the thermoplastic polyolefins owing to favourable qualities such as thermal
resistance, design and moulding versatility, clarity, and high impact resistance.
Growing stringency of regulations such as the lowering of greenhouse gas emissions
and environmental risks of polyvinyl chloride is predicted to drive a larger
demand for the thermoplastic polyolefins market. Enactment of the Corporate
Average Fuel Economy (CAFE) regulations which emphasize lower vehicle weight to
minimise emission of pollutants is expected to increase the adoption of thermoplastic
polyolefins in the automobile sector. Construction sector is an lucrative
opportunity which is expected to drive a stable demand owing to rapid adoption
of thermoplastic polyolefins roof tops.
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Global Thermoplastic Polyolefins Market – Segments
The report is segmented into two dynamics to widen the
scope of understanding,
By Type : Automotive, Medical, Home
Appliances, Building & Construction, Industrial, among others (Rubber
Goods, Packaging, Wire & Cable, Battery, And Footwear).
By
Regions : Asia Pacific, Europe, North America, Latin America, and
the Middle East & Africa.
Global Thermoplastic Polyolefins Market – Regional
Analysis
North America dominates the
global thermoplastic polyolefins market led by the U.S. with the largest market
share. Factors such as large automobile industry and consumption of
pharmaceuticals and medical devices is driving the growth of the regional
market. The growing manufacturing base and the presence of stock material
is further driving the growth of the market. The North America market
performance is expected to be buoyed by the development of shale gas which are
expected to provide cheap and ample feedstock.
The thermoplastic
polyolefins market in Europe is expected to grow at a moderate pace owing to
the large automobile sector and other end users. The proliferating medical
devices and pharmaceutical industry in the region is expected to channel a
large demand and consecutively market growth.
The Asia Pacific thermoplastic
polyolefins market is expected to emerge as the largest market in the near
future. The development of China as a large manufacturing base for plastics and
the growing Asian economies provide ample opportunities for the thermoplastic
polyolefins market. The emergence of the large pharma sector coupled with the
momentous growth of the chemical industry in Asia is expected to further propel
the market.
The Middle East and Africa
market is expected to surge owing to shift of manufacturing to the African
nations and the presence of large stock material in the region.
Global Thermoplastic
Polyolefins Market – Competitive Landscape
The thermoplastic polyolefins
market is very fragmented and extremely competitive owing to the presence of
several big and small players. The market is volumetric and favours economies
of scale over scope. Thus, large manufacturers can remain completive owing to
large purchase of stock material. The shortage of stock material and the
periodic swings in the cost of raw material is having an adverse effect on the thermoplastic
polyolefins industry.
Manufacturers of thermoplastic
polyolefins are employing vendor management and client relationship strategies
to generate a stable revenue and avoid loss of large clients. Companies are
also pursuing raw material suppliers who can adapt to the demand swings of the
industry.
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The companies are
developing global sourcing and network strategies which guarantee uniform raw
material specifications. Companies are closely aligning with automobile
manufacturers to develop customised products having desirable characteristics
such as low thermal expansion, balance of impact and stiffness, printable and
paintable thermoplastic polyolefins products and others.
Major
Players:
Players leading the global thermoplastic
polyolefins market include Sumitomo Chemical Co., Ltd. (Japan),
Exxon Mobil Corporation (U.S.), Arkema SA (France), S&E Specialty Polymers
(U.S.), SABIC (Saudi Arabia), LyondellBasell (the Netherlands), Noble Polymers
(U.S.), INEOS Olefins & Polymers (UK), The Hexpol group of companies
(U.S.), Johns Manville, A Berkshire Hathaway Company (U.S.), RTP Company
(U.S.), among others.
Industry/
Innovation/ Related News:
April 03,
2019 ---- Borealis AG invested in a major capacity increase
for automotive thermoplastic polyolefins products portfolio by starting a compounding
plant in North America in Taylorsville, North Carolina. The plant is expected
to significantly increase Borealis supply capability for thermoplastic
polyolefin and short glass fibre. The new plant will add 30 kt to Borealis
compounding capacity and is designed to serve its existing tier 1 customers.
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