The global polyolefin market size is expected to reach USD 348.31 billion by 2025, according to a new report by Grand View Research, Inc., registering a CAGR of 6.7% during the forecast period. Multinational companies in the field are constantly improvising their product portfolio to meet existing demand from numerous application sectors, such as film and sheet and injection molding, which is projected to drive industry growth.
There has been a rise in usage of eco-friendly polyolefins that cause lower emissions and ensure minimal environment degradation. This can be attributed to growing consumer awareness regarding environment protection, an increase in efforts to curb plastic waste disposal, and stringent government regulations. Apart from compliance to environmental norms, companies are investing in extensive R&D activities, which has prompted the development of novel plastic products that outperform conventional plastics in terms of physical and chemical properties.
Rapid industrialization across Asia Pacific has resulted in significant growth of the plastics market. Growth of the e-commerce industry, rise in purchasing power of individuals, shift in consumption traits, and technical advancements by companies working with polyolefins have ensured development of diverse, complex, and eco-friendly products.
The polyethylene market in Asia Pacific is largely dominated by China, India, and Japan on account of surge in industrialization. Expanding construction and furniture sectors, along with presence of major automotive industries and increasing demand for sophisticated infrastructure, have driven the polyethylene industry in the region.
Browse full research report with TOC on"Polyolefin Market Size, Share & Trends Analysis By Product Type (PE, PP, Ethylene Vinyl Acetate, Thermoplastic Olefin), By Application (Film & Sheet, Injection Molding, Blow Molding, Profile Extrusion), And Segment Forecasts, 2014 - 2025" at:https://www.grandviewresearch.com/industry-analysis/polyolefin-market
Further Key Findings From the Report Suggest:
The global polyolefin demand is anticipated to grow from 149.78 million tons in 2016 at 5.8% CAGR from 2017 to 2025
The film & sheet and injection molding application segments are expected to witness rapid growth in emerging economies owing to rising consumer disposable income
Ethylene vinyl acetate and polypropylene have emerged as key product types due to increasing demand from the automotive as well as packaging industry
The European furniture and construction industry has witnessed significant product innovation owing to stringent regulatory framework to curb GHG emission levels. This has resulted in increased investments in polyethylene production
Growing consumer awareness regarding generation and disposal of plastic waste has encouraged leading companies to optimize product innovation, thereby establishing a sustainable business model
Multinational companies such as Sinopec Corporation, LyondellBasell Industries Holdings N.V., BASF SE, ExxonMobil Chemicals, and Petrochina Company Limited enjoy an extensive global presence in the industry.
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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