Polyolefin Powder Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Polyolefin Powder Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Key Highlights

• The polyolefin powder market is expected to witness a CAGR of around 5%. Key factors driving the market are the increasing applications of polyolefin powder in the container sector.
• The usage of polyethylene powder in the rotational molding applications for the manufacture of the container, tanks, automotive fuel tanks, etc., is also expected to drive the market demand.
• However, stringent environmental regulations, pertaining to the use of harmful chemicals in polyolefin production, are major restraints for the market. Moreover, unfavorable conditions arising due to the COVID-19 outbreak is expected to hinder the market growth.

• Polyethylene powder is used majorly in rotational molding, owing to available forms of several density types.
• Rotational molding is anticipated to account for the largest share demand, as it offers high flexibility, excellent wrap resistance, consistent shrinkage, and cost-effectiveness to manufacture automotive fuel tanks, water, septic, oil, chemicals tanks, and plastic containers.
• Additionally, it does not require stabilization additives to be thermally stable and can be molded using high temperature, high-speed rotational molding equipment without excessive oxidation.
• Rotomolded polyolefin powder is used in various end-user industries, like rubber compounding, paper coating, ink and paint formulation, and injection molding. Different grades of polyolefin powders can be utilized as per requirements of end-user industries, such as automotive and transportation, paints and coatings, and building and construction.

• Asia Pacific is anticipated to hold a significant share of the global polyolefin powders market, owing to the increased demand for these powders in rotomolding and masterbatch applications in the region. These applications help in the production of plastic compounds, which are used in numerous industrial applications.
• Moreover, advancements in the automotive and transportation, paints and coatings, cosmetics, toys, tanks, and containers, and building and construction industries in developing economies, such as China and India, are boosting the polyolefin powders market.
• China is expected to dominate the market owing to the growing demand from the home appliance, electronic, and automotive sectors. The increase in sales of household appliances and electronic equipment due to the shift in lifestyle trends and rapid urbanization have raised the consumption of polyolefins.
• China has the world’s largest electronics production base. With the increasing disposable incomes of the middle-class population and the growing demand for electronic products, the usage of polyolefin powders for battery applications and other electronics applications is expected to grow further during the forecast period.
• There has been a rise in the adoption of eco-friendly polyolefins that causes lower emissions and ensures minimal environmental degradation. This can be attributed to growing consumer awareness regarding environmental protection, an increase in efforts to curb plastic waste disposal, and stringent government regulations.

The polyolefin powder market is partially consolidated in nature, with a few major players dominating a significant portion of the market. Some of the major companies include LyondellBasell Industries Holdings BV, INEOS, Borealis AG, Mitsui Chemicals, and SABIC, among others.

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