Reactor Thermoplastic Polyolefin Elastomer Market Is Anticipated To Add 1.5x Value By 2031

As per industry analysis on reactor thermoplastic polyolefin elastomers (TPOs) by Fact.MR, the market is anticipated to be valued at US$ 647 Mn in 2021, expanding at a moderate CAGR of 4.5% over the forecast period of 2021-2031.

Fact.MR, a market research and competitive intelligence provider, analyses that reactor thermoplastic polyolefin elastomer demand is set to witness moderate growth on the back of rising demand for strong and lightweight bumper fascia from the automotive industry.

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Key Takeaways from Market Study

• The reactor thermoplastic polyolefin elastomer market is anticipated to add 1.5X value by 2031.
• Collective reactor TPO production capacity of prominent players such as Borealis, LyondellBasell, and Formosa Plastics positioned in North America is 180 KT.
• Prominent players in East Asia such as Hyosung, Lotte Chemicals, Mitsubishi, and Formosa Plastics, together account for 120 KT production of reactor TPOs.
• Rigid form of reactor thermoplastic polyolefin elastomers captures a major chunk of the market and is set to create an absolute $ opportunity of around US$ 262 Mn over 2021-2031.
• Among the applications, medical has been the fastest-growing segment globally, over the past decade.
• Automotive application held a major chunk of the market share in 2020.

“Circular economy is anticipated to provide an exclusive market hold to LyondellBasell over the long-run forecast period” says a Fact.MR analyst.

Product Price and Quality: Game Changer in Reactor TPO Space

Over the past half-decade, key manufacturers such as SABIC, Borealis, LyondellBasell, Formosa Plastics, and Japan Polypropylene have worked closely with automakers to develop custom-made, high-impact-resistant products. These products comply with regional standards and contract product pricing is at par with the global ceiling and floor price bands. This has acted as a prime game changer in the reactor thermoplastic polyolefin elastomer market.