Scienza e Tecnologia
Reactor Thermoplastic Polyolefin Elastomers Demand to Grow by 4% CAGR as Preferred Material in EV Manufacturing
NEW YORK , Sept. 27, 2021 /PRNewswire/ In a recent market analysis, Fact.MR projects the demand for reactor thermoplastic polyolefin elastomer (TPO) to increase by 4% between 2021 and 2031, with the overall consumption reaching 700 KT by 2031.
Increasing automotive production and sales are resulting in high demand for reactor TPOs. Besides this, stringent regulations implemented to curb carbon emissions from vehicles are tipping scales in favor of lightweight vehicles production.
Driven by this, automotive manufacturers are adopting materials such as aluminum, carbon fibers, and plastic. Some are using performance polymers in side beams and bumper fascia to manufacture lightweight vehicles. Consequently, some of the leading automakers are collaborating with plastic/polymer producers to gain access to materials that significantly reduce the weight of vehicles.
Overall expansion of the automotive sector also is projected to spur demand for reactor TPOs in the forthcoming years. In 2020, however, economic slowdown due to COVID-19 hampered production in the automotive industry. This also created disruptions in reactor TPO supply. Despite this, increasing applications of reactor TPOs in the production of films, tubes and injections used in the medical sector kept the market afloat.
As per the report, the U.S. is expected to dominate the North America reactor thermoplastics polyolefin elastomer (TPO) market. The presence of key manufacturers including Formosa Plastics, Borealis, and LyondellBasell, along with stringent vehicle emission standards adopted in the country will fuel the demand for lightweight materials used in vehicle production, including reactor TPOs.
Leading players operating in the global reactor thermoplastic polyolefin elastomer (TPO) are investing in research and development to expand their product portfolio. Apart from this, mergers, acquisitions, and collaborations to expand global footprint will remain prominent growth strategies among key players. For instance:
Fact.MR provides an unbiased analysis of the reactor thermoplastic polyolefin elastomer (TPO) market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global reactor thermoplastic polyolefin elastomer (TPO) market with a detailed segmentation on the basis of:
Automobile manufacturers prefer thermoplastic polyolefin elastomers for a variety of internal and external uses. Demand has been spurred by substantial integration of TPOs and beneficial network externalities by automakers all over the world. The medical industry operated as a wedge in the TPO market in 2020, helping it to recover from its sharp dip during COVID-19. On the strength of high demand for healthcare equipment around the world, syringe tips and peristatic tubes have achieved considerable traction in the industry. This has been a major driving force in the TPO industry.
Exceptional physical and chemical qualities of thermoplastic copolyester elastomers is resulting in high demand from automobile industry. The automobile industry uses thermoplastic copolyester elastomers extensively in the production of car parts that require chemical, heat, and oil resistance. Due of rising environmental and health concerns, the healthcare industry is shifting away from polyvinyl chloride (PVC) and silicone rubber. Because of their recyclability and cost-effectiveness, thermoplastic elastomers are developing as a more sustainable option to thermoset rubber.
With its expanding popularity among footwear producers, TPU elastomers are leading the footwear industry. TPU elastomers are used to make shoe soles that are lightweight, abrasion resistant, flexible, durable, and comfortable. As a result, TPU elastomers have become one of the most common raw materials in the footwear industry. To leverage on increased demand for TPU elastomer-based sporting goods, market leaders have been observed collaborating closely with top footwear brands, shoe sole manufacturers, and sporting goods industry players. A growing number of TPU elastomer producers are utilizing cutting-edge technology to create novel material features.
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