Thermoplastic Polyolefins (TPO) contain polymers including polypropylene, polyethylene and rubber with filler material. TPOs are processed like thermoplastics and come under thermoplastic elastomers family. TPO are manufactured by different processes including injection molding, extrusion molding and forming. TPO possess rubber qualities but they are processed like polymer. This unique property has increased the application scope of TPO in major end-use industries recently.
TPO market has been witnessing strong growth over the last few years on account of increasing demand from automotive industry, and the trend is expected to continue over the forecast period. Rapid growth of automotive industry especially in India and china is the key factor expected to drive the market in this region. Automotive industry is highly competitive in nature where market players compete with each other by product innovation.
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Providing luxurious interior and exterior design is the key factor for market players to gain competitive advantage over their competitors. Increasing application scope of TPO in automotive interior and exterior designs is anticipated to fuel the market growth over the next six years. TPO is gaining popularity on account of its properties including weather resistance, waterproof and design flexibility. Increasing TPO application in construction sector for roofing purpose is the key factor likely to surge the market growth over the next six years.
In addition, increasing government spending on infrastructure development in emerging BRIC countries is the key factor anticipated to boost TPO market demand over the forecast period. TPO with UV stabilization provide superior advantages where outstanding impact properties at different temperature are required. Typical applications include automotive bumper and fascia components, recreation vehicle cowls and lawn and garden machinery guards. These applications of UV stabilized TPO is anticipated to boost TPO demand over the next six years.
TPO are ecofriendly polymers possessing similar properties of PVC. Growing environmental concerns and controversial debate on PVC usage has negatively affected the PVC market recently. In addition, stringent regulations from EU commission in Europe restricted the usage of PVC in this region. Eco friendly nature of TPO replaced PVC in major industrial applications, and it is expected to augment the market growth over the next six years.
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Automotive industry was the largest market for TPO over the last few years on account of growing automobiles demand across the world. Increasing automotive manufacturers in countries such as India, China and Brazil is anticipated to drive TPO market at a good pace in this region. Construction sector was the second major market for TPO in 2013. Increasing construction projects including roads, flyovers, commercial complexes and residential projects on account of infrastructure development in BRICS is likely to fuel the market growth over the forecast period. Global TPO market is expected to witness significant growth over the next seven years owing to increasing application in major end-use industries including electrical, packaging and healthcare.
North America was the dominating regional market over the past few years, and the trend is expected to continue over the forecast period. On account of matured automotive market in North America, TPO market is anticipated to witness moderate growth over the foreseeable period in this region. Asia pacific was the second largest market owing to strong TPO demand from automotive and construction sector in emerging countries including India and China. Europe has been witnessing sluggish growth over the last few years on account of market saturation in this region.
Increasing application scope of TPO in major industrial applications coupled with rapid industrialization in BRICS is anticipated to open new opportunities for the existing market player to increase their production capacity over the forecast period. Some major players in this market include The Dow Chemical Company, Arkema SA, INEOS Olefins & Polymers, Exxon Mobil Corp., PolyOne Distribution, SABIC and Chemtura Chemical Corporation.
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