Market Research Future Published a Cooked Research Reports “Global Polyolefin Market Research Report – Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2023.
BASF SE, The Dow Chemical Co., E. I. du Pont de Nemours and Company, Formosa Plastics Corporation, Sinopec Corporation, LyondellBasell Industries Holdings B.V., ExxonMobil Corporation, China National Petroleum Corporation, SABIC, Braskem S.A., Total S.A., Ineos Group AG, and Arkema S.A. and other are some of the prominent players at the forefront of competition in the Global Polyolefin Market and are profiled in MRFR Analysis.
Polyolefin Market – Market Overview
Polyolefin is the class of polymer which is produced from simple olefins. Polypropylene and polyethylene are the major polyolefin produced by the polymerization of propylene and ethylene. It has seen largely using in Film & Sheet, Injection Molding, Blow Molding, and Fibers & Raffia. Polyolefin Market has witnessing tremendous growth due to enhanced consumption of final plastic products in consumer as well as industrial sectors. Shift of consumer preference from eco-friendly packaging has played a crucial role in film packaging industry. This has forced key industry participants to innovate new technology and products and thus improve efficiency and expand its application scope.
Automotive industry has recognised the importance of lightweight high-performance material over the past seven years, and its increasing demand has created scope for Polyolefin in this industry. Polyethylene is the highly used polyolefin in automotive industry, and it expected to attain the market dominance in the coming years. There has been a surge in plant capacities in the Polyolefins Market, whereas the demand has been increasing at a moderate rate, resulting in higher capacity-to-demand ratio. Increasing environmental concern over plastic disposal and stringent government regulations for increasing the use of paper products are also growing concerns of the Polyolefins Market.
Regionally, Asia Pacific was the most impactful market across the globe, which has acquired highest global shares. Economic developments along with rapid industrialization of the region has been the key factor responsible for regional growth after 2010. Increasing production capacities in China by addressing the growth offered by country expected to uplift the consumption of polyolefins. As per the industry experts, industrial development in BRIC nation may help Asia Pacific to continue its prominence over the coming years driven by economic reforms.
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Polyolefin Market- Competitive Landscape
The Global Polyolefin Market represented huge growth over the last decade and it has expected to show same trend in the coming years as well. This market consist of large numbers of Tier 1 companies along with great presence of Tier 2, which have collectively dominated the global market. The key market players operating across the globe are BASF SE, The Dow Chemical Co., E. I. du Pont de Nemours and Company, Formosa Plastics Corporation, and ExxonMobil Corporation. The key trend observed in the global market by industry experts is expansion of production facility and same trend may continue along with several acquisition activities.
Industry/ Innovation/ Related News:
April 22, 2016- Grace Agrees to Purchase BASF’s Polyolefin Catalysts Business. Grace announced today that it has signed an agreement to acquire the assets of BASF’s Polyolefin Catalysts business. The transaction is expected to close in the third quarter of 2016 pending regulatory approvals, required consultations with employee representatives, and other customary closing conditions. The acquisition will avail several opportunities in polyolefin segment to cater ongoing demand.
May 11, 2017- The Dow Chemical Announces largest investment to align long term competitive advantage and Earing growth.As a part of this long term activity, construction of world scale of 450,000 metric ton polyolefins facility will be done in Europe. This capacity addition will maximize the value of Dow’s ethylene integration in the region and serve growing demand for high-performance pressure pipes and fittings, as well as caps and closures applications.
December 27, 2016- One of the leading material maker in Middle East region SABIC announced to develop polypropylene pilot plant in Europe next year and it advancing in polymer foam as well. In polymer foam, Sabic is expanding its portfolio to include more polyolefins (including POP elastomers and POP plastomers), and engineering resins such as the firm’s own Lexan-brand polycarbonate and its modified PPE (Noryl) and polyetherimide (Ultem).
April 9, 2015 – Formosa Petrochemical considers new polyolefin plant in Louisiana, U.S. with by making the investment. The pant will be built by starting polyethylene production and related products and also cresting more than 9000 hundred jobs.
July, 28 2013- The Dow Chemical Company has made $1Billion-Plus Investment in Plaquemine Site to build polyolefin plant. The Dow Chemical Company will invest $1.06 billion in a pair of new polyolefins plants – one for producing next-generation synthetic rubber and another for high-performance polyethylene. The investment will be helpful and may create over 500 job once the production plant will be done.
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