Thermoplastic polyolefin elastomer consumption expected to exceed 2,890 KT by the end of 2031 at 4.7 percent CAGR

Rockville, MD – The latest study by Fact.MR on the Thermoplastic Polyolefin Elastomers (TPO) market reveals that consumption over the past half-decade increased by 4% CAGR to 1,890 KT in 2020. TPO consumption is expected to exceed 2,890 KT by the end of 2031 at 4.7% CAGR. The key factor driving the growth of the market is the divestment opportunity being opted in by key stakeholders in the TPO industry.

Several sources were used to gather the data for this study, including surveys, primary and secondary research, and industry experts. To ensure accuracy and dependability, market experts then analyse and validate the data. The data is further analysed using various statistical tools, including regression analysis, correlation analysis, time series analysis, and so forth, to gain insight into market trends and dynamics.

A thorough analysis of the market’s competitive landscape and in-depth profiles of the major players are also included in the report. This makes it easier to comprehend the tactics used by these participants to outperform their rivals.

Thermoplastic polyolefin elastomers (TPO) are a type of thermoplastic elastomer that is gaining popularity in the automotive and construction industries due to its superior properties. TPOs are a combination of polypropylene and ethylene–propylene rubber, which gives them excellent flexibility, strength, and durability. They are also resistant to UV radiation, ozone, and chemicals. TPOs have become increasingly popular due to their ability to be recycled and reused multiple times without losing their properties. This makes them an attractive option for companies looking to reduce their environmental impact. Additionally, TPOs can be used in a variety of applications such as roofing membranes, automotive parts, and sealants. As the demand for sustainable materials increases, the demand for TPOs is expected to rise in the coming years.

The major players in the global Thermoplastic Polyolefin Elastomer market are SABIC, LG Chem, Mitsui Chemicals, Inc., Exxon Mobil Corporation, Eastman Chemical Company, LyondellBasell, Borealis AG., 3M company, KOLONPLASTIC,INC., Kuraray America, Inc., SILOXANE AGGRANDIZE INNOVATIVE INDUSTRIES, Saint-Gobain, among others. The Polyolefin Thermoplastic Elastomer market is consolidated by top players who account for a majority share in the market.