Polyolefins Market 2019 Industry Report provides detailed market segment level data on the international market. This market report addresses forecast and growth patterns by company, regions and type or application from 2019 to 2023. Besides this, report also consists of development trends, competitive landscape analysis, and development in key regions status.
Market Highlights:
Although polyolefins have a large number of advantages, the most important is their versatility. The increasing need for high standard performance plastic across all modern applications is driving the growth of polyolefins market. This has also resulted in the development of newer and improved application and performance properties; polyolefins that are fast, easy, and low cost are in demand. Such newly developed polyolefins include fast curing polyethylene and polypropylene and others.
The global polyolefins market is expecting a potential growth in coming years. The major factors that influenced the demand for polyolefins are wide range of applications, growth in packaging industry, increasing demand from construction industry and growing Asia-Pacific region.
Polyolefins Key Market Manufacturers:
W.R. Grace, LyondellBasell Industries Holdings, B.V, E. I. du Pont de Nemours and Company, PetroChina Company Limited, PolyOne Corporation, Arkema SA and SABIC
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Whereas, factors that are hindering the growth of polyolefins market are increasing demand – supply gap, fluctuation in crude oil prices and stringent environmental regulations on non-biodegradable plastic residues challenging market growth. Major ongoing opportunities and trends in polyolefins market are Increasing Popularity of green and natural polyolefins, increasing demand for bio-based polyolefin and increasing demand from FMCG and plastic packaging industries.
Market Segmentation Analysis:
The global polyolefins market has been segmented into type, application and end user. Among types, the market has been divided into polyethylene, polypropylene and others. Polyethylene has accounted the largest market in terms of value and volume. This market was valued at USD 96.6 billion in 2016 which is projected to reach USD 148.6 billion by 2023 with a CAGR of 6.45%. The major reason behind this exponential growth is that PE is undoubtedly one of the most popular plastic across the globe which is majorly used in the plastic industries to manufacture plastic bottles, plastic toys, and grocery bags and also in bullet proof jackets. Along with this, PE also holds a significant role in other application industries such as packaging, electronics, automotive and many others. In the global polyolefin market, polyethylene holds a largest market share of 46% in 2016.
From the application side, the market has been segmented into film & sheets, blow molding, injection molding, fibers and others. Among these applications, films and sheets is the leading application where polyolefins consumed most. Polyolefins are majorly used in the production of film and sheets. The major raw materials used in its production are polyethylene and polypropylene. Polyethylene has accounted more demand when compared to polypropylene. These film and sheets are widely used in plastic packaging and other industries as well. Packaging industry accounts the largest demand as they are wise used in packaging of food & beverages, pharmaceutical and personal care products. Other industries such as construction, electronics, and medical have also enjoyed a strong demand.
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Regions:
The APAC region is the largest consumer of polyolefins such as polyethylene and polypropylene in the world which has accounted around 47% of market in 2016. Within this region, the polyolefins market is wholly dominated by China which represents 45% of the total market volume in 2016. Demand for PP and PE from India accounted for 19% of the total demand, hence, the Indian market will come up with ample growth opportunities owing to the investments, big giants entering into Indian market and strong dominance of domestic players with respect to production, while Japan represents 23% of the market in terms of volume. Because of its strong, growing middle class, the entire region is a significant market for end markets that use polyolefins, including packaging, consumer goods and FMCG and textile. Japan, Australia, and South Korea are the most developed countries in the APAC region and have mature growth outlooks.
China is the one of the largest economy in the world and is still growing at a rapid pace. China is making deliberate efforts to boost various industries including packaging, consumer good, retail, automotive, automotive and consumer products; growing industrial activity has resulted in increasing demand for polyolefins. Currently, China is the single largest market for polyolefins, accounting more than 45% of the total market in APAC
Target Audience:
- Polyolefins producers
- Traders and distributors
- Association and government bodies.
- Application industries
- Plastic manufacturers
- Research institute
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