Polyolefins Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028

Polyolefins Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028

Global Polyolefins Market is anticipated to witness healthy growth at an impressive CAGR during the forecast period due to the beverages and lightweight fuel-efficient automobiles. In the financial year 2022, the leading Type of electric vehicle sold in India was two-wheelers, reaching around 231 thousand units.

Polyolefins are a class of man-made polymers chemically manufactured by olefins (unsaturated compounds) polymerization. Many factors influence the growth of the Global Polyolefins market in myriad ways, like end-product stability, multiple applications, and operational functionality. Regardless of the scope of sales volume, manufacturers have found ingenious methods to produce stain-resistant polyolefin fabric, inert plastic packaging polyolefins, or automotive interior components. The most used polyolefins in the market are Polypropylene (P.P.) and Polyethylene (P.E.). Their tendency to get recycled makes them versatile across various end-use industries and markets, including textiles, automobiles, packaging, building, and construction.

Being majorly used for packaging purposes, Polyolefins account for nearly two-thirds of all post-consumer plastic garbage, according to the data released by Plastics Europe Association, wherein recycling capacity installed in Europe represents 23% of all plastic waste of this Type.

Increasing Demand for Lightweight Utility Vehicles

Automotive vehicles are encountering new challenges like extra energy utilization in heavy-weight cars, encouraging manufacturers to double the rate of manufacturing Lightweight vehicles that can deliver sustainable and eco-friendly mobility solutions. Manufacturers play a significant role in developing Polyolefin-based solutions that can cater to specific requirements. Durable Polyolefins like Polypropylene and Polyethylene are increasingly becoming a prominent part of modern mobility solutions supporting less carbon emission and fuel consumption. Societies are swiftly transitioning to lightweight vehicles whose interior and exterior components are composed of Polypropylene replacing conventional metals and denser engineering plastics. The lightweight vehicle industry has become an essential customer for manufacturers of Polyolefins, and it is likely to stay as a primary end-user industry for Global Polyolefins Market. Recently, a research assessment was performed to evaluate the content of chemical consumption in the North American Region for Lightweight utility vehicles by the North American Free Trade Agreement (NAFTA) in which the average value (calculated for the historic period 2018-2021) for Polyolefins accounted as the primary material component in the lightweight utility vehicles. Therefore, the growth in sales volume of Lightweight utility vehicles will drive the future growth of the Global Polyolefins Market during the forecast period.

Flourishing Plastic Packaging Industry

Polyolefins are increasingly used in plastic films used in the packaging industry, and their utilization in the manufacturing of sustainable films of Polypropylene and Polyethylene for a wide range of applications like food packaging, industrial packaging, etc. Plastic films have become a popular choice for food packaging due to their multiple attributes, like minimum susceptibility to contamination and longer shelf-life. Recent market trends show that customers prefer lightweight material over heavy-weight material and films made from Polyolefins are the best suited for packaging trends pertinent to the evolving needs of customers.

Recent Trends, Developments, and Opportunities

On November 2019, LyondellBasell began operating a project on a new high-density polyethylene plant in La Porte, Texas, which is entirely based upon Hyperzone technology that tends to produce 500,000 tons of HDPE annually. On November 2020, LyondellBasell Industries NV signed a term sheet for a 50/50 Joint Venture with a Chinese firm Liaoning Bora Enterprise Group, to set up a 1.1 million tonnes/year ethylene cracker.

Market Segmentation

The global Polyolefins Market is segmented based on Type, Catalyst, Application and Regional distribution. Based on Type, the market is further segmented into Polyethylene (P.E.), Polypropylene (P.P.), Ethyl Vinyl Acetate (EVA), Thermoplastic Polyolefin (TPO) and Others. Based on Catalyst, the market is divided into Ziegler–Natta, Chromium, and Others. Based on Application, the market is fragmented into Film & Sheet, Injection Molding, Blow Molding and Others. The market analysis also studies the regional segmentation divided among North American region, European region, Asia-Pacific region, South American region, and Middle East & African region.

Market Players

The Dow Chemicals Company, BASF SE, LyondellBasell Industries N.V., ExxonMobil, Saudi Arabia Basic Industries Corporation, INEOS Group Limited, Chevron Phillips Chemical Company, LLC, L.G. Chem Ltd., LANXESS, ENI (Ente Nazionale Idrocarburi) S.p.A are some of the major market players in Global Polyolefins Market

Report Scope:

In this report, Global Polyolefins Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Polyolefins, By Type:
• Polyethylene (PE)
• Polypropylene (PP)
• Ethyl Vinyl Acetate (EVA)
• Thermoplastic Polyolefin (TPO)
• Polyolefins, By Catalyst:
• Ziegler-Natta
• Chromium
• Polyolefins, By Application:
• Film & Sheet
• Injection Molding
• Blow Molding
• Polyolefins, By Region:
• North America
• United States
• Mexico
• Canada
• Europe
• Germany
• United Kingdom
• France
• Russia
• Belgium
• Spain
• Italy
• Asia-Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Colombia
• Argentina
• Middle East and Africa
• UAE
• Saudi Arabia
• South Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Global Polyolefins.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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