Thermoplastic Polyolefins Market To Reach $7.08 Billion By 2030

Thermoplastic Polyolefins Market Growth & Trends

The global thermoplastic polyolefins market size is expected to reach USD 7.08 billion by 2030, registering a CAGR of 6.7% from 2024 to 2030, according to a new report 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 thermoplastic polyolefins (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.

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Thermoplastic Polyolefins Market Report Highlights

• The compounded TPO segment accounted for 48.4% of the market revenue in 2023. This segment is particularly significant in the automotive industry, where compounded TPOs are used extensively for manufacturing bumpers, dashboards, and interior trims.

• The automotive segment dominated the market in 2023, driven by the increasing demand for lightweight and durable materials in vehicle manufacturing. TPOs are extensively used in the automotive industry for both interior and exterior applications.

• The Asia Pacific region held the largest revenue share of 45.5% in the global TPO market in 2023. This dominance is attributed to the rapid industrialization and urbanization in countries such as China, India, and Japan.

Thermoplastic Polyolefins Market Segmentation

Grand View Research has segmented the global thermoplastic polyolefins market on the basis of on application, end-use and region:

Thermoplastic Polyolefins Application Outlook (Revenue, USD Million; 2018 - 2030) (Volume in Kilotons)

• Compounded TPO

• In-situ TPO

• POEs

Thermoplastic Polyolefins End-use (Revenue, USD Million; 2018 - 2030) (Volume in Kilotons)

• Automotive

• Building & Construction

• Medical

• Others

Thermoplastic Polyolefins Regional Outlook (Revenue, USD Million, 2018 - 2030) (Volume in Kilotons)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Thailand

  • South Korea

  • Australia

  • Vietnam

• Latin America

  • Brazil

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in the Thermoplastic Polyolefins Market

• Johns Manville

• S&E Specialty Polymers

• SABIC

• Noble Polymers

• INEOS Olefins & Polymers

• Exxon Mobil Corporation

• A Berkshire Hathaway Company

• The Hexpol group of companies

• Sumitomo Chemical Co., Ltd.

• Arkema SA

• LyondellBasell

• RTP Company