Fior Markets launched a study titled “Polyolefin Market by Type (Polypropylene, Polyethylene, Ethylene Vinyl Acetate, Thermoplastic Olefins, Others), Application, Regions”,and Global Forecast 2018-2025.
The global polyolefin market is expected to grow from USD 214.83 Billion in 2017 to USD 367.36 Billion by 2025, at a CAGR of 6.94% during the forecast period from 2018-2025. Rising demand for the polyolefin materials such as polyethylene, polypropylene from the end user industries such as automotive, construction and packaging are driving the global polyolefin market.
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Polyethylene (PE) segment had a market value of USD 84.79 billion in 2017
Type segment is divided into polyethylene, polypropylene, ethylene vinyl acetate, polymethylpentene and others. Due to their light weight, high durability, non-toxicity and chemical and corrosion resistance properties, the polyethylene materials are extensively used in the manufacturing of the packaging films and household containers, as well as automobile accessories. Thus polyethylene segment emerged as the leader in the global polyolefin market with USD 84.79 billion revenue in 2017.
Packaging materials segment is anticipated to grow at a CAGR of 8.83% in 2018-2025
Application segment is divided into packaging, automotive, electronics, construction materials and others.Automotive application segment held a robust share of the global polyolefin market in 2017, due togrowth in the replacement of the metal with polyolefin materials and growing demand for the lightweight, fuel efficient cars. Growing consumer preference for the ecofriendly packaging materials, increasing demand for the recyclable containers as well as focus on reducing the carbon emission are factors that are expected to propel packaging materials segment to grow at an accelerated CAGR of 8.83% over the forecast period.
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Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Due to the rapid industrialization, growth of end user industries as well as increasing demand for the fuel efficient automobiles, the Asia Pacific region emerged as the leader in the global demand for the polyolefins with USD 93.58 billion revenue in 2017.
Even though the factors such as rapid industrialization in the Asia Pacific region, growth packaging industry coupled with growing demand for the flexible packaging materials are driving the global polyolefin market. The growing demand for the flexible packaging materials and concerns related to the improper disposal of the polyolefin plastic materials are expected to restrain the growth of the market over the forecast period.
Major players in the global polyolefin market are BASF SE, The Dow Chemical Co., E. I. Du Pont De Nemours And Company, Formosa Plastics Corporation, Sinopec Corporation, LyondellBasell Industries Holdings B.V., ExxonMobil Corporation, China National Petroleum Corporation, SABIC, Braskem S.A., Total S.A., Ineos Group AG, Arkema S.A., Chevron Phillips Chemical Company, Reliance Industries Limited, LG , Polyone Corporation, Borealis AG, Akzo Nobel N.V., SOCAR Polymers, Tosoh Corporation, and among others.
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