Polyolefin Market

Polyolefin is one of the important synthetic material with wide variety of applications such as packaging, building and construction, agriculture, automobile, healthcare and so on. Due to its properties such as light weight longer durability, high resistance chemical and physical attacks, polyolefin are preferred over its metallic and non-metallic substitutes leading to increased demand of polyolefin in the end user industries. The global polyolefin market is expected to grow at a CAGR of 4.6% during the forecast period 2022-2030. However, the market is highly price volatile due to rapid fluctuations in price of natural oil and gas. Top companies in this market include BASF, DOW Chemicals Company, SABIC, Lyondell Basell Industries and others.

Polyolefins Prominently Used in Automotive Industry

Polyolefins are widely used material in automobile industry. Today in most cars, 50% plastic parts are made from polyolefin. Out of the two types of polyolefin, that is, PE and PP, polypropylene (PP) is used throughout automobiles, in its interiors, exteriors and even under the hood. There is an increasing pressure on automotive industry to reduce cost, environmental concerns, and stringent government regulations and improve efficiency, which has led to the rising demand for polyolefin in automobile industry. PP helps meet the safety norms in a better matter without compromising on weight and flexibility. Automobile bumpers are commonly made of PP and generally consist of an inner beam a fascia and as a core that absorbs energy. In the exteriors it is also used for the side protective strip to prevent the door from damaging and rear view mirrors.

Packaging Industry Contributes Largest to The Market Revenues

Among the various end use applications of polyolefin, the packaging industry leads the market contributing to 45% of the global market share. Most polyolefin packaging is made through film extrusion, blow or injection molding. Due to its various properties such as flexibility, light weight, high resistance and thermal stability polyolefin are preferred for manufacturing plastic containers. However, over the forecasted period increased demand from automotive and agriculture sector are expected to drive the market growth.

Automotive Industry Remains as The Fastest Growing Market

Automobiles industry is growing at 6.7% CAGR during the forecast period. The polyolefin automobile materials are easily and affordably recycled. Cyclic thermoplastics technology offers an attractive method for developing recyclable components for more fuel-efficient automobiles. The chemical companies are taking this as an opportunity for the development of polyolefin in the automobiles sector. The main goal of this partnership is to offer car manufacturers custom-engineered solutions for high-performance composite structures, enabling the industry to further reduce weight and carbon dioxide emission. 

APAC Takes the Lion’s Share

Among the geographies, Asia Pacific contributes to 45% of the global market revenue in 2021. More than half of the global polyolefin consumption is from APAC region. The region is home to many developing countries with impressive opportunities in manufacturing sector such as India, China and Japan. China contributes to almost 25% of the global consumption of polyolefin. However, India is expected to grow at highest CAGR 7.9% during the forecasted period. North America and Europe are relatively mature markets and are estimated to project stagnant growth.

Historical &Forecast Period

This research report presents the analysis of each segment from 2020 to 2030 considering 2021 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment are calculated for the forecast period from 2022to 2030.

Report Methodology

Market revenues and CAGR were derived from primary and secondary research. Both quantitative andqualitative trends were considered for extrapolation of market revenues. The derived market estimates were further validated from top down, bottom strategies and primary research. The scope of the market is limited to the following segments of product categories and region.

Global Polyolefin Market, By Application, 2020-2030, ($Millions)

• Packaging
• Automobile
• Electronics
• Agriculture
• Construction Materials
• Healthcare
• Consumer goods
• Others

Global Polyolefin Market, By Material Type, 2020-2030, ($Millions)

• HDPE
• LDPE
• LLDPE
• PP
• Others

Global Polyolefin Market, By Raw Material, 2020-2030, ($Millions)

• Bio- based polyolefin
• Petro-based polyolefin

By Region (2020-2030; US$ Mn)

• North America
• Europe
• Asia Pacific
• Latin America
• Africa

Global Impact of Covid-19 Segment (2020-2021; US$ Mn)

• Pre Covid-19 situation
• Post Covid-19 situation

Key questions answered in this report

• What are the key market segments in current scenario and in the future by product categories?
• What are the key market segments in current scenario and in the future by regions?
• What is the key impact of Covid-19 over market revenues and market determinants in the global polyolefin market?
• What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
• What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
• How to overcome the current market challenges and leverage the opportunities in each of the market segment?
• Who are the key players in the operational predictive maintenance market and what are their key product categories and strategies?
• What are the key strategies – mergers/acquisitions/R&D/strategic partnerships etc. that companies are deploying to enhance market revenues and growth?