The global Polyolefin Market is anticipated to reach USD 357.3 billion by 2030, according to a new report by Grand View Research, Inc. 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.
List of Key Players in the Polyolefin Market
- China
Petrochemical Corporation
- LyondellBasell
Industries Holdings B.V.
- PetroChina
Company Limited
- TotalEnergies
- Chevron
Corporation
- Repsol
- Dow, Inc.
- Exxon Mobil
Corporation
- Braskem
- Borealis AG
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free sample copy or view report summary: Polyolefin Market Report
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.
Polyolefin Market Segmentation
Grand
View Research has segmented the global polyolefin market on the basis of
product, application, and region:
Polyolefin Product Outlook (Volume, Kilotons; Revenue,
USD Million, 2018 - 2030)
- Polyethylene
(PE)
- Polypropylene
(PP)
- Ethylene-Vinyl
Acetate (EVA)
- Thermoplastic
Polyolefins (TPO)
- Polyoxymethylene
(POM)
- Polycarbonate
(PC)
- Polymethyl
Methacrylate (PMMA)
- Others
Polyolefin Application Outlook (Volume, Kilotons;
Revenue, USD Million, 2018 - 2030)
- Film &
Sheet
- Injection
Molding
- Blow Molding
- Profile
Extrusion
- Others
Polyolefin Regional Outlook (Volume, Tons; Revenue, USD
Million, 2018 - 2030)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Central
& South America
- Brazil
- Argentina
- Middle East
& Africa
- South
Africa
- Saudi
Arabia
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
