Polyolefin Market Share, Research Analysis Including Growth Factors 2030

Market Scope

The Polyolefin Market has a CAGR of 8%. This began in 2030 and is expected to continue until 2030. The Polyolefin Market should be worth USD 323.5 billion by 2030. Global polyolefin production is supposed to amount to 180 million tons by 2022. Market Research Future (MRFR) studied the Polyolefin Market 2021 in the analysis period till 2030. According to MRFR findings, the Polyolefin Market is expected to rise at high pace to earn considerable revenue by 2030.

Market Drivers and Restrains

The growing awareness about low density and good elasticity properties of all classes of polyolefin polymers that underscores its large-scale utility in the automobile sector is expected to benefit the market in the near future. Advancements in technology used to develop polyolefin elastomers with superior elasticity, high UV resistance, toughness, thermal stability, and low temperature ductility, which are identified to have numerous applications, thus can work in favor of the polyolefin elastomers market.

Market Segment

The segment study of the polyolefin vs polyethylene Market is based on type, application, manufacturing method, and end-use industry.

The type-based segments of the Polyolefin Market are polypropylene, polyethylene, and ethylene propylene diene monomer. The segment of polypropylene is expected to hold the largest share of the worldwide polyolefin elastomers market in the forecast tenure owing to benefits offered by polypropylene, such as; low cost, thermal properties, good mechanical, melt rheological behaviour, chemical resistance, and easy processing. Wires and cable insulation is another well-known application of polypropylene elastomers. In addition, its growing utility in injection moulded automotive parts, such as; adhesives, bumpers, trims, instrument panels, footwear, and packaging, is observed to underpin the growing application of polypropylene-blended elastomers.

The manufacturing method-based segments of the Polyolefin Market are blow molding, injection molding, cast and blown film extrusion, extrusion molding, and foam and calendering.

The application-based segments of the Polyolefin Market are wires cables, adhesives, automotive interiors, molded rubber goods, films, and medical equipment among others.

The end-use industry-based segments of the Polyolefin Market are packaging, automotive, electrical and electronics, and consumer goods among others. The automotive segment is likely to thrive at the highest CAGR and earn high revenue for the Polyolefin Market in the review tenure. The fabrication of automotive panels, airbags, adhesives, automotive interior and exterior components, and bumpers with polyolefin elastomers can prompt the market upsurge by 2030.

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Regional Analysis

The market of polyolefin elastomers is studied for regional progress across five regions, namely, Asia-Pacific, Latin America, North America, Europe, and the MEA.

In Asia Pacific, the polyolefin market can thrive owing to the expansion of the elastomers market in the region due to their surge in demand for toys, automobiles, and packaging. In China accounted for the very best vehicle production in 2021 with USD 23 Mn. India, Japan, and other Asian nation, including South Korea are the opposite markets contributory to the expansion of the regional polyolefin elastomers market.

In North America, the polyolefin elastomers market is predicted to witness a rapid growth throughout the review tenure owing to the surge in elastomer products by the automotive industry in the US. In line with the International Trade Administration (ITA), the US stratified second in the world for vehicle production and sales in 2020. The demand for writer in North America is additionally influenced by its use in applications like wires and cables in the electrical and natural philosophy industry.

In regions, such as; Latin America, comprising Brazil and Argentina, the polyolefin market can earn high profit due to increase in product demand for packaging and medical applications. In 2020, United Mexican States was seventh-largest vehicle producer in the world, accounting for around 3.4 Mn automobiles. the employment of writer in bumpers, instrument panels, and trims within the automotive business is additionally expected to drive the expansion of the polyolefin elastomers market in Latin America.

In Europe, the polyolefin market is expected to make high revenue owing to the presence of several packaging and footwear players in the region, those are high consumers of polyolefin elastomer market. Germany, France, the UK, and Italy are studied for EU market.

The presence of several end-users in Saudi Arabia and South Africa region, along with the increase in demand for automotive and packaging applications of polyolefin elastomers can benefit the regional market.

Competitive Analysis

Exxon Mobil Corporation (US), LG Chem (South Korea), Mitsui Chemicals, Inc. (Japan), DowDuPont (US), the Dow Chemical Company (US), Polmann India Ltd (India), Mitsubishi Chemical Holding Corporation (Japan), SABIC (Saudi Arabia), RTP Company (US), LyondellBasell Industries Holdings BV (Netherlands), and PolyOne Corporation (US) are some reputed companies in the polyolefin elastomers market that are listed by MRFR in the report.

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