Global thermoplastic polyolefin market is anticipated to grow at a considerable CAGR of 7.2% during the forecast period (2024-2031). TPO is widely used in various industries for its versatile properties. In construction, it is utilized for applications such as waterproofing membranes, wall claddings, and window profiles. In packaging, TPO films and sheets are preferred for their toughness, flexibility, and sealability. Medical applications benefit from TPO's biocompatibility, sterilizability, and chemical resistance. Wire and cable insulation, consumer goods, agriculture, and textiles/nonwovens also make use of TPO for its specific properties. Furthermore, the market has seen significant growth primarily owing to increased focus on R&D by both public and private organizations and growing applications. For instance,

• In January 2024, Siplast, launched Parasolo TPX, its first-ever thermoplastic polyolefin solution (TPO), which offers consumers a competitively priced, dependable substitute for PVC while maintaining the same level of quality and dependability as all Siplast products. The product is compatible with all single-ply systems, including adherent, induction welded, and mechanically attached systems. It serves to save labor and time costs.
• In Feburary 2024, IFS Coatings introduced IFS Puroplaz PE16, a tough thermoplastic-modified polyolefin powder coating with a unique combination of hardness and flexibility. It boasts high adhesion properties, Shore D Hardness of 60, and exceptional impact and abrasion resistance, overcoming codependency in these attributes.
• In October 2023, Celanese Corporation introduced sustainable engineering thermoplastic solutions, including Santoprene TPV ECO-R, Celanex PBT ECO-R, and Tecnoprene PP ECO-R, to support the circular economy and provide excellent mechanical properties to manufacturers.

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Market Coverage

• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031

Segment Covered- 

• By Type
• By Application

Regions Covered-

• North America
• Europe
• Asia-Pacific
• Rest of the World

Competitive Landscape- Exxon Mobil Corp., LyondellBasell Industries N.V., Mitsui Chemicals, Inc., Sumitomo Chemical Co., Ltd., and Saudi Basic Industries Corp., among others.

Thermoplastic Polyolefin Market Report Segment

By Type

• In-situ TPO (TPOs produced in-situ during polymerization)
• Compounded TPO (TPOs produced by compounding polyolefins with elastomers)
• POEs (Polyolefin Elastomers)

By Application

• Automotive 
• Building & Construction 
• Medical
• Wire and cables
• Others (Electrical and Electronics, and Industrial Equipment)

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Thermoplastic Polyolefin Market Report Segment by Region

North America 

• United States
• Canada

Europe

• UK
• Germany
• Spain
• France
• Italy
• Rest of Europe

Asia-Pacific

• India
• China
• Japan
• South Korea
• Rest of APAC

Rest of the World

• Latin America
• Middle East and Africa 

Company Profiles

• Arkema
• Asahi Kasei Corp.
• Aurora Material Solutions, LLC
• BASF SE
• Berkshire Hathaway Inc.
• Borealis AG
• China Petrochemical Corp.
• Formosa Plastics Corp.
• HEXPOL AB
• INEOS AG
• Johns Manville
• LG Chem, Ltd.
• LyondellBasell Industries N.V.
• Noble Polymers
• RTP Company
• Reliance Industries Ltd.
• Saudi Basic Industries Corp. 
• Sumitomo Chemical Co., Ltd.
• The Dow Chemical Co.
• Versalis S.p.A. 

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