Dublin, Nov. 29, 2023 (GLOBE NEWSWIRE) -- The "Polyolefin Market Size, Share & Trends Analysis Report By Product (Polyethylene, Polypropylene, Polycarbonate), By Application (Film & Sheet, Injection Molding, Blow Molding), By Region, And Segment Forecasts" report has been added to ResearchAndMarkets.com's offering.
The global polyolefin market is anticipated to reach USD 357.3 billion by 2030. The market is projected to expand at a CAGR of 5.1% from 2023 to 2030
The market is poised for growth due to increasing adaptation across the end-use industries. The use of polyolefins in automotive applications helps reduce fuel consumption on account of their ability to reduce the density and weight of vehicles compared to conventional materials such as rubber and metal.
The use of polyolefins in automotive applications helps reduce fuel consumption on account of their ability to reduce the density and weight of vehicles compared to conventional materials such as rubber and metal. Increasing awareness regarding health hazards and consumer safety in various industries, such as electronics, healthcare, wire & cable, construction, and automotive, is expected to drive the global market over the forecast period.
The use of polyolefins in automotive applications helps reduce fuel consumption on account of their ability to reduce the density and weight of vehicles compared to conventional materials such as rubber and metal. Increasing awareness regarding health hazards and consumer safety in various industries, such as electronics, healthcare, wire & cable, construction, and automotive, is expected to drive the global market over the forecast period.
In the Polyolefin Market, major players have adopted various strategic initiatives such as new product launch, production expansion, merger & acquisition, and others. These strategic initiatives enable the market players to maintain the competitive environment and meet global demand. For instance, in May 2023, Borealis, an advanced & circular polyolefin solution provider launched Stelora to its existing portfolio of polyolefins. This sustainable engineering polymer provides attributes such as strength, durability, and higher thermal resistance.
Research activities focused on new materials, which combine several properties, are projected to gain wide acceptance in this industry in the coming years. Some of the prominent companies manufacturing these products include China Petrochemical Corporation; LyondellBasell Industries Holdings B.V.; PetroChina Company Limited; TotalEnergies; Chevron Corporation; Repsol; Dow, Inc.; Exxon Mobil Corporation; Braskem; and Borealis AG.
Polyolefin Market Report Highlights
- Asia Pacific dominated the market and accounted for a revenue share of over 49.0% in 2022. The Asia Pacific region stands out for its abundance of skilled labor available at a low cost, as well as easily accessible land.
- The polyethylene (PE) led the market for market across the product segmentation and accounted for a revenue share of over 38.0% in 2022. Polyethylene has witnessed significant growth in recent years with an increase in utilization across prototype development on 3D printers and CNC machines.
- The film & sheet led the market for market across the application segmentation and accounted for a revenue share of over 25.0% in 2022. Polyolefins provide high-quality shrink films with improved clarity and appearance for the consumer goods industry. Polyolefins have stronger puncture resistance, are FDA approved, have no chlorine content, and are more durable; however, they are relatively more expensive.
- The film & sheet led the market for market across the application segmentation and accounted for a revenue share of over 25.0% in 2022. Polyolefins provide high-quality shrink films with improved clarity and appearance for the consumer goods industry. Polyolefins have stronger puncture resistance, are FDA approved, have no chlorine content, and are more durable; however, they are relatively more expensive.
- The market faces several pressing challenges that are shaping its dynamics. The foremost challenge is the imperative of sustainability, driven by mounting concerns about plastic waste and its environmental impact. This has prompted the development of more eco-friendly options and the adoption of circular economy practices to effectively recycle and reuse polyolefin products.
Key players include
- China Petrochemical Corporation
- LyondellBasell Industries Holdings B.V.
- PetroChina Company Limited
- TotalEnergies
- Chevron Corporation
- Repsol
- Dow, Inc.
- Exxon Mobil Corporation
- Braskem
- Borealis AG
Key Topics Covered:
Chapter 1 Methodology And Scope
Chapter 2 Executive Summary
2.1 Market Snapshot 2022
2.2 Segment Snapshot
2.3 Competitive Landscape Snapshot
Chapter 3 Polyolefin Market: Variables And Trends
3.1 Market Lineage Outlook
3.1.1 Global Plastics Market Outlook
3.2 Penetration & Growth Prospect Mapping
3.3 Industry Value Chain Analysis
3.3.1 Raw Material Trends
3.3.2 Raw Material Price Analysis
3.4 Technology Overview
3.5 List Of Announced Upcoming Plants
3.6 Analysis Of Potential Substitute Material
3.7 Regulatory Framework
3.7.1 Standard & Compliances
3.7.2 Safety
3.7.2.1 Polyethylene (Pe)
3.7.2.2 Polypropylene (Pp)
3.8 Market Dynamics
3.8.1 Market Driver Impact Analysis
3.8.1.1 Growth Of Key End-use Industries
3.8.1.2 Shift In Trend Toward Replacement Of Glass & Metals
3.8.2 Market Restraint Impact Analysis
3.8.2.1 Stringent Rules & Regulations
3.8.3 Industry Challenge Analysis
3.9 Industry Analysis Tools
3.9.1 Porter's Analysis
3.9.2 Macroeconomic Analysis
3.10 Looming Inflation Concerns & Economic Slowdown And Its Impact On Polyolefin Market
3.11 Eastern Europe Geopolitical Conflict Impact On Polyolefin Market
Chapter 4 Polyolefin Market: Product Estimates & Trend Analysis
4.1 Product Movement Analysis & Market Share, 2022 & 2030
4.2 Product Movement Analysis & Market Share, 2022 & 2030
4.3 Polyolefin Market Estimates & Forecast, By Product (Kilotons) (USD Million)
4.3.1 Polyethylene (Pe)
4.3.2 Polypropylene (Pp)
4.3.3 Ethylene-vinyl Acetate (Eva)
4.3.4 Thermoplastic Polyolefins (Tpos)
4.3.5 Polyoxymethylene (Pom)
4.3.6 Polycarbonate (Pc)
4.3.7 Polymethyl Methacrylate (Pmma)
4.3.8 Others
Chapter 5 Polyolefin Market: Application Estimates & Trend Analysis
5.1 Application Movement Analysis & Market Share, 2022 & 2030
5.2 Application Movement Analysis & Market Share, 2022 & 2030
5.3 Polyolefin Market Estimates & Forecast, By Application (Kilotons) (USD Million)
5.3.1 Film & Sheet
5.3.2 Injection Molding
5.3.3 Blow Molding
5.3.4 Profile Extrusion
5.3.5 Others
Chapter 6 Polyolefin Market: Regional Estimates & Trend Analysis
6.1 Polyolefin Market: Regional Outlook
Chapter 7 Polyolefin Market - Competitive Landscape
7.1 Recent Developments & Impact Analysis, By Key Market Participants
7.2 Vendor Landscape
7.2.1 Company Categorization
7.2.2 List Of Key Distributors And Channel Partners
7.2.3 List Of Potential Customers/end-use
7.3 Competitive Dynamics
7.3.1 Company Market Share Analysis & Market Positioning
7.3.2 Strategy Mapping
7.3.2.1 Expansions
7.3.2.2 Mergers & Acquisitions
7.3.2.3 Collaborations
7.3.2.4 New Product Launches
7.3.2.5 Completion
7.3.3 Company Heat Map Analysis
7.4 Participant's Overview
For more information about this report visit https://www.researchandmarkets.com/r/v6wesb
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