Thermoplastic olefins (TPOs), or olefinic thermoplastic elastomers, are members of large family of thermoplastic elastomers (TPE) and possess properties of both plastic and rubber. Technological advancements in materials sciences have led to exciting opportunities in the applications of elastomer. There is a continued trend to replace PVC with TPO in major end-use industries. Phthalates, a key component of PVC, is known for its toxic effects to environment. Due to environmental concerns associated with polyvinyl chloride (PVC) have been boosting the use of thermoplastic olefins. As a result of this paradigm shift, there is an extensive demand for TPOs for high-end applications such as in automotive and construction. It is used in a wide range of applications such as in making urine bags and Intravenous (IV) sets in medical, various home appliances, footwear, and rubber goods.
Browse the full Global Thermoplastic Polyolefin Market Report:http://www.mrrse.com/thermoplastic-polyolefins
Low Cost and Unique Characteristics Lead to Wide Range of Applications for TPOs
The process of polymerization lends unique properties to thermoplastic polyolefins. Apart from being environmental-friendly, TPOs have excellent abrasion properties and are lightweight. They are UV light stabilizer and have antioxidants characteristics. Furthermore, TPOs can be fabricated using a range of technologies such as injection molding, extrusion, blow molding, and calendaring, offerings end-users the freedom of design with TPOs. Among other TPE members, TPOs can be developed at a comparatively lower price. They are extensively used in making roofing membrane systems and door panels in the residential construction sector.
The global TPO market is projected to reach US$4.3 bn by 2024, rising at a 7.3% CAGR during 2016 – 2024. The rapid expansion of the automotive industry across the globe, coupled with the rise in building and construction activities, are the key factors propelling the demand for TPO. The roofing systems made from TPO attain energy efficiency, possess excellent resistance to ultraviolet radiation, and block ozone exposure. The increased inclination toward adopting green materials in housing and construction and the application of TPO for designing smart home appliances that are heat-resistant have propelled the demand for TPOs boosting the growth of the market.
Automotive Industry to Occupy Lion’s Share
The global automotive industry is rapidly evolving and is providing the needed boost to the thermoplastic polyolefins market. The automotive industry is witnessing the soaring demand for thermoplastic vulcanizate due to its remarkable chemical and physical properties. Increased drive to cut down on costs and reduce time-to-market among auto manufacturers have led to an extensive demand for these TPOs. The focus toward better safety standards, increased consumer comfort, and improved fuel efficiency have led OEMs to opt for TPOs as raw materials for making air dams, door panels, and fender flares.
Browse the full Press Release of Global Thermoplastic Polyolefin Market at :http://www.mrrse.com/thermoplastic-polyolefins-market
Regions other than the U.S. to Showcase Exciting Prospects for OEM Manufacturers
The U.S. occupied a large share of the global TPO market in 2016. The growth of the market in the U.S. is fuelled by technological advancements in the automotive industry and the demand for advanced building & construction activities construction materials. In addition, the applications of TPO for making roofing systems that are fully recyclable have propelled the market’s growth. On the other hand, other regions also showcase promising potential for the demand for TPOs. Increase in automotive production in countries such as India, Vietnam, China, Thailand, and Malaysia is expected to propel the demand for TPO. Countries such as France, Germany, and the U.K. in Europe is expected to offer abundant growth opportunities to the market players over the forecast period. The TPO market in the Africa and Middle East is anticipated to exhibit an impressive growth during the forecast period.