Polyolefin Market Size, Global Analysis, Business Growth, Sales Revenue, Competitive Landscape, Future Plans and Trends by Forecast 2022
The Global Polyolefin Market is predicted to surpass USD 300 billion at an alluring 7% CAGR over the assessment period (2016-2022). Polyolefin simply put, is a class of polymers that is produced from olefin also known as alkene. It is also popularly known as polyalkene. It has a waxy texture and expands upon heating. Owing to its high gloss finish, it has become a favorite for promotional and introductory packaging. Also, it is safe, thus can protect goods against chemicals for its chemical resistant nature. It is for this characteristic, polyolefin has scored high consumer points in board games, technical products, cardboard boxes, toys and also food stuffs such as confectioneries, bakery goods and vegetables. This product is highly preferred over others for its wonderful characteristics namely durability, light weight and resistance to chemical and physical attacks.
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There are several factors that is propelling the growth of the Polyolefin Market. These factors according to MRFR (Market Research Future) report include increasing use in packaging industries, healthcare, construction, textiles, automotive and electrical, demand for eco-friendly packaging, an array of wonderful characteristics such as chemical resistance, high impact resistance and high tensile strength, recyclability and regulations laid by the government for optimizing fuel efficiency and reducing carbon dioxide emission. On the contrary, factors such as increasing price of raw material coupled with strict environmental regulation and rules concerning plastic disposal may hinder the growth of the Polyolefin Market.
Market Research Future report offers a comprehensive segmental analysis of the Polyolefin Market on the basis of Type and Application.
Based on Type, it is segmented into polymethyl pentene (PMP), polyethylene (PE) and polypropylene (PP). Of these, PE will have the maximum market share over the assessment period.
Based on Application, the Polyolefin Market is segmented into tapers and fibers, injection molding, blow molding, films and sheet and others. Of these, films and sheet will dominate the market over the assessment period.
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Based on Region, the Polyolefin Market covers latest trends and growth opportunities across North America, Europe, Asia Pacific and Rest of the World. Of these, the Polyolefin Market in Asia Pacific will have the largest share owing to construction and automotive sectors that is gaining mileage coupled with key players that have created an extraordinary network that is equally benefitting the consumers and dealers alike. The polyolefin market in North America will expand at a substantial rate with various verticals offering much traction to overall growth. The revamping automotive market here is driving the growth of the market. Research and innovation in Europe and the US have resulted in the discovery of olefins of a higher grade that can be utilized in food packaging. In Europe, the Polyolefin Market is anticipated to have a moderate growth over the assessment period. On the other hand, the Polyolefin Market in Latin America and Middle East and Africa are at the nascent stage and projected to have a moderate growth due to increasing need of Polyolefin especially from the packaging and construction industry.
Leading players profiled in the Polyolefin Market include Arkema S.A., Ineos Group AG, Total S.A., Braskem S.A., SABIC, Braskem S.A., China National Petroleum Corporation, ExxonMobil Corporation, LyondellBasell Industries Holdings B.V., Sinopec Corporation, Formosa Plastics Corporation, E. I. du Pont de Nemours and Company, The Dow Chemical Co., BASF SE, and others.
March 2019- Leader in sensors and connectivity, TE Connectivity has come up with its latest product BATTU heat shrink tubing. This product is fire retardant and has a dual wall intended for power cable/battery to terminal applications in generator sets, construction equipment, commercial and industrial vehicles and more. Its thermoplastic inner adhesive wall and polyolefin jacket will offer excellent performance especially in harsh environments. The polyolefin jacket will offer protection against bending and abrasion and at the same time withstand exposure to various common automotive fluids. The adhesive liner will bond with different substrate materials such as rubbers, metals and plastics and offers protection against moisture ingress.
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