Thermoplastic Polyolefins Market - Drivers and Forecasts by Technavio

  Thermoplastic Polyolefins Market - Drivers and Forecasts by Technavio

Business Wire

LONDON -- September 29, 2017

Technavio analysts forecast the global thermoplastic polyolefins market  to
grow at a CAGR of over 7% during the forecast period, according to their
latest report.

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Technavio has published a new report on the global thermoplastic polyolefins
market from 2017-2021. ...

Technavio has published a new report on the global thermoplastic polyolefins
market from 2017-2021. (Graphic: Business Wire)

The research study covers the present scenario and growth prospects of the
global thermoplastic polyolefins  market  for 2017-2021. Technavio presents a
detailed picture of the market by way of study, synthesis, and summation of
data from multiple sources.

The automotive industry is the key end-user in the thermoplastic polyolefins
market. The roofing segment in the construction industry is the second largest
end-user in the thermoplastic polyolefins market. Stringent regulations
associated with the use of polyvinyl chloride (PVC) roofing have increased the
demand for TPO roofing. The thermoplastic polyolefins are used in other
applications such as wire and cable, packaging, and plastic repair. The market
has immense potential for technological innovations.

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Technavio analysts highlight the following three factors that are contributing
to the growth of the global thermoplastic polyolefins market:

  * Preference for TPOs over PVC
  * Rising demand in the roofing industry
  * Increasing demand for TPO in North America and APAC

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trends, and more.

Preference for TPOs over PVC

Several regulations have been formulated on the use of PVC as it contains
vinyl chloride monomer that is known to be a human carcinogen. Regulatory
bodies restrict the use of PVC in toys and baby products. Several medical and
nursing associations have highlighted the health risks associated with the use
of PVC medical devices.

Mohd Shakeel Iqbal, a lead plastics, polymers, and elastomers research analyst
at Technavio, says, “The EPA directly amended the National Emission Standards
for Hazardous Air Pollutants for polyvinyl chloride and copolymers production
area sources. This rule withdrew total non-vinyl chloride organic hazardous
air pollutant process wastewater emission standards for new and existing PVC
and copolymers area sources. This rule came into effect on March 30, 2015.”

Rising demand in the roofing industry

Growth in the roofing industry drives the demand for thermoplastic
polyolefins. Increasing number of constructions drives the demand for roofing
systems. Construction activities are increasing at a rapid pace, especially in
the developing regions. The ever-growing population and varying weather
conditions have led to the emergence of various types of roofing. There are
various types of roofings for residential and commercial purposes. Roofs are
also broadly classified into flat roofs and pitched roofs.

“Single ply roofs have been in use for the last 20-30 years and are popular
due to their several advantages such as flexibility, easy installation, and
affordability. The single ply roof can be categorized into thermosets and
thermoplastics. The five key types of single ply roofing are PVC, EPDM, TPO,
thermoplastic elastomer, and polyisobutylene. Out of these, PIB is the oldest,
while TPO and TPE are the recent ones,” adds Shakeel.

Increasing demand for TPO in North America and APAC

In 2016, North America and APAC accounted for 69% of the total revenue
generated by the global thermoplastic polyolefin market. The growth of
thermoplastic polyolefins market in these regions is primarily attributed to
the rising demand for TPO in the automotive sectors. APAC is an emerging
market that draws investments from large players in the automotive industry.

Tesla is likely to introduce its products in India. It might start might its
manufacturing plant in the near future. Under the National Electric Mobility
Mission Plan (NEMMP) 2020, the government of India plans to introduce around 6
million electric cars and hybrid vehicles in the country. Many global
companies, such as Kia Motor, BMW, Ford, Cummins, Suzuki Motor, and General
Motors plan to invest in the automobile industry in India.

Top vendors:

  * A.Schulman
  * Borealis
  * ExxonMobil
  * LyondellBasell Industries Holdings
  * Sumitomo Chemical

Browse Related Reports:

  * Global Ultra-High Molecular Weight Polyethylene Market 2017-2021
  * Global Styrenic Block Copolymer (SBC) Market 2017-2021
  * Global Plastic Additives Market 2017-2021

About Technavio

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research and analysis focuses on emerging market trends and provides
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Global thermoplastic polyolefins market is set to grow at a CAGR of over 7%
during the period 2017-2021. @Technavio

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Jesse Maida
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