Thermoplastic Polyolefins Market by Application and Geography - Forecast and Analysis 2021-2025
Published: Jan 2022 | Pages: 120 | SKU: IRTNTR45543 |
The thermoplastic polyolefins market share is expected to increase by USD 1.39 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 7.57%.
This thermoplastic polyolefins market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers thermoplastic polyolefins market segmentations by application (automotive, roofing, and others) and geography (North America, APAC, Europe, South America, and MEA). The thermoplastic polyolefins market report also offers information on several market vendors, including Arkema SA, Avient Corp., BASF SE, Dow Inc., Exxon Mobil Corp., INEOS Group Holdings SA, LyondellBasell Industries NV, Mitsubishi Chemical Corp., Mitsui Chemicals Inc., and Sumitomo Chemical Co. Ltd. among others.
What will the Thermoplastic Polyolefins Market Size be During the Forecast Period?
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Thermoplastic Polyolefins Market: Key Drivers, Trends, and Challenges
Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The strong demand from automotive industry is notably driving the thermoplastic polyolefins market growth, although factors such as the impact of covid-19 may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the thermoplastic polyolefins industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Thermoplastic Polyolefins Market Driver
The strong demand from the automotive industry is notably driving the thermoplastic polyolefins market growth. The increasing demand from the automotive industry is contributing to the growth of the market. TPOs are increasingly used in interior and exterior automotive applications as a replacement for traditional materials, such as metal and other engineering thermoplastics. TPOs offer various advantages such as UV protection, optimum balance of stiffness, cold temperature impact, and low thermal expansion, making them an ideal choice for automobile applications. Increasing disposable incomes, especially in emerging nations, are expected to create several new demands in the automotive sector and increase the number of first-time buyers. The rising middle-class population in China, India, Brazil, and South Korea with increasing household earnings is expected to drive the growth of the automotive industry, which, in turn, will drive the growth of the market.
Key Thermoplastic Polyolefins Market Trend
The expansion of production capacities of the TPOs is the key market trend driving the thermoplastic polyolefins market growth. The demand for TPO in various end-user industries, such as automotive and construction, is increasing due to its enhanced characteristics. To meet this demand, TPO manufacturers are increasing their production capacities. Moreover, these end-user industries are highly susceptible to the influence of macroeconomic factors and prone to market volatility, which has influenced TPO manufacturers to expand or restructure their production facilities. For instance, in April 2019, Sumitomo Chemical Co. Ltd., announced to expand the localized production of TPO in China and Europe, thus expanding its global TPO production network in Japan, China, Europe, and the US. Similarly, in April 2019, Borealis AG announced to expand automotive compounds capacity in North America to meet the growing needs of automakers and Tier 1 customers in the region for advanced polypropylene (PP) solutions. Such expansions will drive the growth of the market during the forecast period.
Key Thermoplastic Polyolefins Market Challenge
The major challenge impeding the thermoplastic polyolefins market growth is the impact of covid-19. The global TPOs market is dependent on the demand for automobiles and construction activities; therefore, an increase or decrease in vehicle sales can affect the market. The sales of automobiles across the world are stagnant due to the outbreak of COVID-19, which is acting as a challenge to the growth of the market. All the major automobile manufacturers and OEMs in North America and Europe have shut down the majority of their production, which has strictly hindered the total revenue generated from the global automotive industry. Moreover, global automotive production declined by more than 15% in 2020. China witnessed a major decline in the sales of light vehicles, followed by South Korea, Japan, Germany, France, Italy, and France. The rising number of COVID-19 cases, coupled with quarantine measures, may further affect the sales of automobiles.
This thermoplastic polyolefins market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes the global thermoplastic polyolefins market as a part of the global commodity chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the thermoplastic polyolefins market during the forecast period.
Who are the Major Thermoplastic Polyolefins Market Vendors?
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Arkema SA
- Avient Corp.
- BASF SE
- Dow Inc.
- Exxon Mobil Corp.
- INEOS Group Holdings SA
- LyondellBasell Industries NV
- Mitsubishi Chemical Corp.
- Mitsui Chemicals Inc.
- Sumitomo Chemical Co. Ltd.
This statistical study of the thermoplastic polyolefins market encompasses successful business strategies deployed by the key vendors. The thermoplastic polyolefins market is fragmented and the vendors are deploying growth strategies such as innovations to maintain the popularity of TPOs to compete in the market.
Product Insights and News
- BASF SE - The company offers thermoplastic polyolefins that are used in applications where there is a requirement for increased toughness and durability over the conventional PP copolymers, such as automotive bumpers and dashboards, under the brand name of BASF.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The thermoplastic polyolefins market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Thermoplastic Polyolefins Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the thermoplastic polyolefins market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Thermoplastic Polyolefins Market?
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39% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for the thermoplastic polyolefins market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The growing infrastructural developments, along with the emergence of China as a global manufacturing hub will facilitate the thermoplastic polyolefins market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In early 2020, the outbreak of COVID-19 hindered the demand for TPOs from the consumer and manufacturing industries. Several countries, including China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, and the Philippines, were under a partial or complete lockdown due to the pandemic. In March 2020, India imposed a complete lockdown to prevent the community spread of the disease. All manufacturing industries were affected, as their production units were either closed or operations were halted temporarily. In the first half of 2021, lockdowns were lifted following a gradual decrease in the number of COVID-19 cases. This led to the reopening of factories and manufacturing units and the resumption of construction activities, which was hindered due to the COVID-19 pandemic. Thus, with the opening of manufacturing units and with construction activities slowly picking up their pace. We can expect the market to show a high growth rate during the forecast period.
What are the Revenue-generating Application Segments in the Thermoplastic Polyolefins Market?
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The thermoplastic polyolefins market share growth by the automotive segment will be significant during the forecast period. The developing countries of APAC, such as China and India, are the largest producers of automobiles. This has increased the demand for automotive products. Such an increase in demand will lead automotive original equipment manufacturers (OEM) to increase their production levels either by installing new capacity or by expanding their existing capacities. This will, in turn, drive the growth of the market.
This report provides an accurate prediction of the contribution of all the segments to the growth of the thermoplastic polyolefins market size and actionable market insights on post COVID-19 impact on each segment.
Thermoplastic Polyolefins Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.57% |
Market growth 2021-2025 |
$ 1.39 billion |
Market structure |
Fragmented |
YoY growth (%) |
6.84 |
Regional analysis |
North America, APAC, Europe, South America, and MEA |
Performing market contribution |
APAC at 39% |
Key consumer countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Arkema SA, Avient Corp., BASF SE, Dow Inc., Exxon Mobil Corp., INEOS Group Holdings SA, LyondellBasell Industries NV, Mitsubishi Chemical Corp., Mitsui Chemicals Inc., and Sumitomo Chemical Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Thermoplastic Polyolefins Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive thermoplastic polyolefins market growth during the next five years
- Precise estimation of the thermoplastic polyolefins market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the thermoplastic polyolefins industry across North America, APAC, Europe, South America, and MEA
- A thorough analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of thermoplastic polyolefins market vendors
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1 Executive Summary
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 01: Parent market
- Exhibit 02: Market characteristics
- 2.2 Value chain analysis
- Exhibit 03: Value chain analysis : Commodity Chemicals
3 Market Sizing
- 3.1 Market definition
- Exhibit 04: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- 3.3 Market size 2020
- Exhibit 05: Market segments
- 3.4 Market outlook: Forecast for 2020 - 2025
- Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
4 Five Forces Analysis
- 4.1 Five forces summary
- 4.2 Bargaining power of buyers
- Exhibit 08: Five forces analysis 2020 & 2025
- 4.3 Bargaining power of suppliers
- Exhibit 09: Bargaining power of buyers
- 4.4 Threat of new entrants
- Exhibit 10: Bargaining power of suppliers
- 4.5 Threat of substitutes
- Exhibit 11: Threat of new entrants
- 4.6 Threat of rivalry
- Exhibit 12: Threat of substitutes
- 4.7 Market condition
- Exhibit 13: Threat of rivalry
5 Market Segmentation by Application
- 5.1 Market segments
- Exhibit 15: Application - Market share 2020-2025 (%)
- 5.2 Comparison by Application
- 5.3 Automotive - Market size and forecast 2020-2025
- Exhibit 16: Comparison by Application
- Exhibit 17: Automotive - Market size and forecast 2020-2025 ($ million)
- Exhibit 18: Automotive - Year-over-year growth 2020-2025 (%)
- 5.4 Roofing - Market size and forecast 2020-2025
- Exhibit 19: Roofing - Market size and forecast 2020-2025 ($ million)
- Exhibit 20: Roofing - Year-over-year growth 2020-2025 (%)
- 5.5 Others - Market size and forecast 2020-2025
- Exhibit 21: Others - Market size and forecast 2020-2025 ($ million)
- Exhibit 22: Others - Year-over-year growth 2020-2025 (%)
- 5.6 Market opportunity by Application
6 Customer landscape
- 6.1 Customer landscape
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 25: Market share by geography 2020-2025 (%)
- 7.2 Geographic comparison
- 7.3 North America - Market size and forecast 2020-2025
- Exhibit 26: Geographic comparison
- Exhibit 27: North America - Market size and forecast 2020-2025 ($ million)
- Exhibit 28: North America - Year-over-year growth 2020-2025 (%)
- 7.4 APAC - Market size and forecast 2020-2025
- Exhibit 29: APAC - Market size and forecast 2020-2025 ($ million)
- Exhibit 30: APAC - Year-over-year growth 2020-2025 (%)
- 7.5 Europe - Market size and forecast 2020-2025
- Exhibit 31: Europe - Market size and forecast 2020-2025 ($ million)
- Exhibit 32: Europe - Year-over-year growth 2020-2025 (%)
- 7.6 South America - Market size and forecast 2020-2025
- Exhibit 33: South America - Market size and forecast 2020-2025 ($ million)
- Exhibit 34: South America - Year-over-year growth 2020-2025 (%)
- 7.7 MEA - Market size and forecast 2020-2025
- Exhibit 35: MEA - Market size and forecast 2020-2025 ($ million)
- Exhibit 36: MEA - Year-over-year growth 2020-2025 (%)
- 7.8 Key leading countries
- 7.9 Market opportunity by geography
- Exhibit 37: Key leading countries
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- 8.3 Market trends
- Exhibit 39: Impact of drivers and challenges
9 Vendor Landscape
- 9.1 Vendor landscape
- 9.2 Landscape disruption
- Exhibit 40: Vendor landscape
- Exhibit 41: Landscape disruption
- 9.3 Competitive landscape
- Exhibit 42: Industry risks
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 43: Vendors covered
- 10.2 Market positioning of vendors
- 10.3 Arkema SA
- Exhibit 44: Market positioning of vendors
- Exhibit 45: Arkema SA - Overview
- Exhibit 46: Arkema SA - Business segments
- 10.4 Avient Corp.
- Exhibit 47: Arkema SA - Key news
- Exhibit 48: Arkema SA - Key offerings
- Exhibit 49: Arkema SA - Segment focus
- Exhibit 50: Avient Corp. - Overview
- Exhibit 51: Avient Corp. - Business segments
- 10.5 BASF SE
- Exhibit 52: Avient Corp. - Key news
- Exhibit 53: Avient Corp. - Key offerings
- Exhibit 54: Avient Corp. - Segment focus
- Exhibit 55: BASF SE - Overview
- Exhibit 56: BASF SE - Business segments
- Exhibit 57: BASF SE - Key news
- 10.6 Dow Inc.
- Exhibit 58: BASF SE - Key offerings
- Exhibit 59: BASF SE - Segment focus
- Exhibit 60: Dow Inc. - Overview
- Exhibit 61: Dow Inc. - Business segments
- Exhibit 62: Dow Inc. - Key news
- Exhibit 63: Dow Inc. - Key offerings
- Exhibit 64: Dow Inc. - Segment focus
- 10.7 Exxon Mobil Corp.
- Exhibit 65: Exxon Mobil Corp. - Overview
- Exhibit 66: Exxon Mobil Corp. - Business segments
- 10.8 INEOS Group Holdings SA
- Exhibit 67: Exxon Mobil Corp. - Key news
- Exhibit 68: Exxon Mobil Corp. - Key offerings
- Exhibit 69: Exxon Mobil Corp. - Segment focus
- Exhibit 70: INEOS Group Holdings SA - Overview
- Exhibit 71: INEOS Group Holdings SA - Business segments
- 10.9 LyondellBasell Industries NV
- Exhibit 72: INEOS Group Holdings SA - Key news
- Exhibit 73: INEOS Group Holdings SA - Key offerings
- Exhibit 74: INEOS Group Holdings SA - Segment focus
- Exhibit 75: LyondellBasell Industries NV - Overview
- Exhibit 76: LyondellBasell Industries NV - Business segments
- 10.10 Mitsubishi Chemical Corp.
- Exhibit 77: LyondellBasell Industries NV - Key offerings
- Exhibit 78: LyondellBasell Industries NV - Segment focus
- Exhibit 79: Mitsubishi Chemical Corp. - Overview
- Exhibit 80: Mitsubishi Chemical Corp. - Product and service
- 10.11 Mitsui Chemicals Inc.
- Exhibit 81: Mitsubishi Chemical Corp. - Key offerings
- Exhibit 82: Mitsui Chemicals Inc. - Overview
- Exhibit 83: Mitsui Chemicals Inc. - Business segments
- 10.12 Sumitomo Chemical Co. Ltd.
- Exhibit 84: Mitsui Chemicals Inc. - Key offerings
- Exhibit 85: Mitsui Chemicals Inc. - Segment focus
- Exhibit 86: Sumitomo Chemical Co. Ltd. - Overview
- Exhibit 87: Sumitomo Chemical Co. Ltd. - Business segments
- Exhibit 88: Sumitomo Chemical Co. Ltd. - Key offerings
- Exhibit 89: Sumitomo Chemical Co. Ltd. - Segment focus
11 Appendix
- 11.1 Scope of the report
- 11.2 Currency conversion rates for US$
- 11.3 Research methodology
- Exhibit 90: Currency conversion rates for US$
- Exhibit 91: Research Methodology
- Exhibit 92: Validation techniques employed for market sizing
- 11.4 List of abbreviations
- Exhibit 93: Information sources
- Exhibit 94: List of abbreviations
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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thermoplastic polyolefins market market
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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