THE GLOBAL POLYOLEFINS MARKET HAS BEEN GROWING AT THE CAGR OF ~6.49% FROM 2017 AND IS EXPECTED TO CONTINUE THE SAME TILL 2023.
Development policies and plans are discussed as well as manufacturing processes and cost structures. This report also states import/export, supply and consumption figures by regions (United States, EU, China, Japan, Southeast Asia, India) and other regions can be added
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. 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.
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.
Polyolefins Key Market Manufacturers:
Lyondell Basell Industries Holdings B.V
E. I. du Pont de Nemours and Company
PetroChina Company Limited
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Polyolefins Market Segmentation
- Polyethylene (PP) – HDPE, LDPE, LLDPE
- Polypropylene (PP)
- Film & Sheets
- Blow Molding
- Injection Molding
By End User
- Electronics & Electricals
Polyolefins Regional Analysis: 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.
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.
Polyolefins Market Key Findings :
- Global polyolefins market is projected to reach USD 324 billion by 2023 with 6.49% CAGR during review period of 2017-2023
- Asia-Pacific accounted for largest share due to growing application industries in this region
- Among types, polyethylene has acquired the market share of 46% in 2015 with the market value of USD 96.6 billion in 2016 growing at a CAGR of 6.45% till forecast period.
- Among applications, packaging industry emerged as the leading application industry in global polyolefins market.
The report for Global Polyolefins Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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