Thermoplastic polyolefins (TPO) to have Increased penetration

摘要

Thermoplastic polyolefins (TPO) market size is set to reach US$4.08 bin by 2023, as per a report by Global Market Insights, Inc .The report says increasing market penetration of TPO across medical applications is anticipated to drive market over the forecast period. According to the report the Automotive application segment was dominant accounting over 70% of global share in 2015. Drifting focus towards reducing overall weight of automobiles will drive product demand. Also, stringent government regulations on account of reducing carbon emissions will assist industry penetration. Advancements in Corporate Average Fuel Economy (CAFE) have compelled automobile industry participants to evolve news way for vehicle weight reduction. This may boost polymer applications in this section, which further impact positively on thermoplastic polyolefins market size. Industrial applications should witness over 5% growth up to 2023. Rapid industrialization coupled with increasing per capita disposable income of customers have positively impacted end use sector such as automotive and construction. TPOs are extensively used for residential & commercial roof tops purpose owing to propel thermoplastic polyolefins market from 2016 to 2023.