Thermoplastic Polyolefin Market Report 2026

The thermoplastic polyolefin market size has grown strongly in recent years. It will grow from $4.44 billion in 2025 to $4.75 billion in 2026 at a compound annual growth rate (CAGR) of 7%. The growth in the historic period can be attributed to automotive production growth, polypropylene availability, cost effective elastomer blends, construction material demand, plastics processing maturity.

The thermoplastic polyolefin market size is expected to see strong growth in the next few years. It will grow to $6.15 billion in 2030 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to electric vehicle component demand, sustainable roofing adoption, recyclable polymer focus, appliance housing growth, medical grade polymer usage. Major trends in the forecast period include rising use in automotive lightweighting, growing adoption in roofing membranes, expansion of flexible packaging applications, increased demand for impact resistant materials, advancements in olefin polymer blending.

The increasing volume of construction activities is anticipated to drive the growth of the thermoplastic polyolefin (TPO) market in the coming years. Construction activities encompass the building, repair, or modification of structures such as buildings, roads, bridges, and other forms of infrastructure. This rise is largely attributed to accelerating urbanization, which fuels demand for residential, commercial, and infrastructural development. Thermoplastic polyolefin supports these construction needs by offering excellent durability, weather resistance, and energy efficiency, making it particularly suitable for roofing membranes and waterproofing systems. For example, in July 2023, the Australian Bureau of Statistics reported that the number of dwellings under construction rose from 240,156 in March 2022 to 240,813 in March 2023. Therefore, the growth in construction activity is contributing significantly to the expansion of the thermoplastic polyolefin market.

Key players in the thermoplastic polyolefin market are focusing on product innovation, particularly in roofing solutions, to improve energy efficiency and resilience in modern construction. Roofing membranes, which serve as waterproof layers on building roofs, are enhanced by thermoplastic polyolefin for better UV resistance, durability, and energy-saving properties. For instance, in January 2024, Siplast, Inc., a U.S.-based roofing systems manufacturer, introduced Parasolo TPX, a TPO roofing membrane engineered for long-term durability and extreme weather performance. Designed to withstand prolonged UV exposure, heat, and temperature fluctuations, the product features a highly reflective white surface with a three-year aged reflectance of 0.72. This helps reduce rooftop temperatures, supporting improved energy efficiency and sustainability. Parasolo TPX is also compatible with all major single-ply roofing installation methods, making it a flexible option for a variety of commercial roofing projects.

In April 2024, Versalis, a chemical company headquartered in Italy, acquired Tecnofilm S.p.A. for an undisclosed sum. This acquisition is part of Versalis’s strategy to enhance its compounding capabilities and broaden its portfolio of high-performance polymers used in industrial applications. Tecnofilm S.p.A. is an Italy-based company, specializes in thermoplastic compounds, including functionalized polyolefins.

Major companies operating in the thermoplastic polyolefin market are Dow Inc., ExxonMobil Chemical Company, LyondellBasell Industries N.V., Borealis AG, SABIC (Saudi Basic Industries Corporation), Braskem S.A., Arkema S.A., Mitsui Chemicals, Inc., Avient Corporation, RTP Company, RENOLIT SE, GAF Materials Corporation, Firestone Building Products, Carlisle Companies Incorporated (Carlisle SynTec Systems), Johns Manville Corporation, Versico Roofing Systems, GenFlex Roofing Systems, Sika AG, IKO Industries Ltd., Polyglass Spa, Tremco CPG (Tremco Roofing), Soprema SAS, Owens Corning, Celanese Corporation, Lotte Chemical Corporation.

North America was the largest region in the thermoplastic polyolefin market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the thermoplastic polyolefin market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the thermoplastic polyolefin market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The thermoplastic polyolefin market consists of sales of roofing membranes, wire and cable insulation, seals and gaskets, and packaging films. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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