The global Thermoplastic Polyolefin (TPO) Market is projected to grow from USD 5.4 billion in 2023 to USD 7.3 billion by 2028, registering a CAGR of 6.0%, according to the report “Thermoplastic Polyolefin Market by Type (In Situ TPO, Compounded TPO, POEs), Application (Automotive, Building & Construction, Medical, Wire and Cables), Region (North America, Europe, APAC, MEA, South America) – Global Forecast to 2028.”
Growth in the TPO market is fueled by demand from multiple end-use industries such as construction, automotive, and electronic appliances, along with strong contributions from developed and emerging economies like the US and China.
The report includes:
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225 Market Data Tables
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44 Figures
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219 Pages with In-depth TOC
Key Players: DOW (US), Mitsui Chemical, Inc. (Japan), Exxon Mobil Corporation (Texas), SABIC (Saudi Arabia), Sumitomo Chemicals Co., Ltd. (Japan), LyondellBasell Industries N.V. (Texas), among others.
Automotive applications held the largest share by value. The versatility and processability of TPOs allow for lightweight, aerodynamic automotive parts, enhancing both aesthetics and efficiency. TPOs contribute significantly to creating fuel-efficient and environmentally sustainable vehicles, aligning with consumer preferences and regulatory requirements.
Asia Pacific is anticipated to be the fastest-growing region, with a projected CAGR of 7.6% from 2023 to 2028. Countries including China, Japan, India, and South Korea dominate the market. With its strong industrial base in automotive, construction, and furniture, and ongoing infrastructure modernization, the region is expected to continue driving significant TPO demand.
