Thermoplastic Polyolefins (Tpo) Market Size Is Set to Reach Usd 4.08 Billion by 2023: Fractovia

Global Thermoplastic Polyolefins (TPO) Market size was evaluated at more than 970 kilo tons for 2015 and is predicted to register a CAGR of more than 5% during forecast timeframe. Rising automotive sales and construction expenditure in India, China and Brazil are projected to enhance the demand. With modern technology used in producing vehicle parts, polymers are finding novel applications in automobile sector. Polymers offer holistic approach to vehicle component production by all aspects that include static & mechanical strength and resistance to temperature & oxidation. This makes it desirable over other items and can drive the industry growth.

Commercial & personal vehicle production was evaluated at 222.41 billion and 685.31 billion units respectively for 2015. Increasing automotive sector is projected to remain a driving force for increase in global demand for the product. Further, strict rules favouring rising vehicle fuel efficacy has encouraged industry players to minimize vehicle mass. Growing expenditure on construction in countries like Brazil, China and India may fuel product demand. India & China construction expenditure was more than $422 billion and $1.71 trillion respectively for 2015 which is predicted to contribute to enhanced demand of the product.

Rising trend towards substituting polyvinyl chloride(PVC) due to risks related to its application can promote thermoplastic polyolefins(TPO) demand. The growth of industry can be credited to exceptional properties of thermoplastic polyolefins like crystal clarity, design versatility, thermal stability, irritant potential, high resistance and no cytotoxicity. Further, polyolefins can be sterilized by ethylene oxide gas & gamma irradiation which makes them acceptable across medical applications.

Thermoplastic polyolefins provide good performance & light mass that makes them desirable over other substances. Current changes in CAFÉ(Corporate Average Fuel Economy)have forced producers to discover...