Polyolefins Market To Reach USD 444.2 Billion By 2028 at a CAGR of 12.6% - Valuates Reports

BANGALORE, India, May 20, 2021 /PRNewswire/ -- The Polyolefins Market is segmented by  Type (Polyethylene (PE), Polypropylene (PP), and Polystyrene) and Application (Film & Sheet, Injection Molding, Blow Molding, Profile Extrusion, and Others). This report is published on Valuates Reports in the Plastics & Polymers Category.

The Polyolefins Market was valued at USD 133.9 billion in 2020 and is projected to reach USD 444.2 billion by 2028, growing at a CAGR of 12.6% from 2021 to 2028.

Major factors driving the growth of the Polyolefins Market are:

• Development of the solar power industry and increase in demand from packaging industry from developed countries
• An upsurge in demand for polyolefins in the renewable energy sector is propelling the polyolefins market growth.
• The rapid expansion of the consumer base, such as aerospace and automobiles, in developing countries such as India and China.

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TRENDS INFLUENCING THE GROWTH OF POLYOLEFINS MARKET

• The rapid increase in demand from the packaging industry is expected to drive the growth of polyolefins market size. The polyolefin's high tensile strength and impact resistance have led to its demand in the film, sheet, and packaging industries. Polyethylene can be heated to its melting point, cooled, and heated again as required without significant strength or consistency degradation. This enables it to be used in a variety of applications, including geomembranes, plastic films, and bags.
  
• An increase in demand from the automotive and construction sector is further fuelling the polyolefins market size. Thermoplastic olefins offer an appropriate amount of stiffness and impact resistance and are widely used in the automotive sector.  In the construction sector, it is used for its application as roof membranes.
  
• Furthermore, polyolefins offer properties such as high processability, superior chemical stability, and prolonged durability. Such properties allow it to be utilized in various end-user industries, which is fuelling the polyolefins market.

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POLYOLEFINS MARKET SHARE ANALYSIS

• Based on type, the polyethylene segment garnered a 65.6% share in terms of revenue in 2020 and is expected to grow at a CAGR of 11.6% during the forecast period. This is due to its widespread use in a variety of applications, including extrusion packaging, extrusion non packaging, injection molding, and blow molding.
  
• Based on application, the film & sheet segment garnered a 31.0% share in 2020. This is due to the increased use of films in manufacturing, automobiles, solar energy, and food and non-food packaging.
  
• Based on region, Asia-Pacific is expected to grow at a CAGR of 13.6% in terms of revenue during the forecast period. The presence of emerging economies such as India, China, Japan, and South Korea is to blame for this. Packaging, automotive, and construction are three industries with increasingly increasing customer bases in these emerging economies. Because of its large customer base and involvement of key players in the polyolefins industry, China is one of the major contributors to the market.

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KEY MARKET SEGMENTS

By Type

• Polyethylene (PE)
• Polypropylene (PP)
• Polystyrene

By Application

• Film & Sheet
• Injection Molding
• Blow Molding
• Profile Extrusion
• Others

By Region

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• UK
• France
• Italy
• Spain
• Rest of Europe
• Asia-Pacific
• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific
• LAMEA
• Brazil
• UAE
• South Africa
• Rest of LAMEA

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SIMILAR REPORTS :

-  The global Bio Based Polyolefins market size is projected to reach USD 56 million by 2026, from USD 39 million in 2019, at a CAGR of 5.2% during 2021-2026. In 2013, packaging became the most popular application due to a shift in demand from synthetic polymers to bio-based polyolefins. Due to the rising use of bio-based polyolefins in the manufacturing of automotive parts, automotives; transportation is the second largest market for bio-based polyolefins. Furthermore, the bio based polyolefins market in building & construction is predicted to rise rapidly throughout the projected period, owing to increased construction projects in rising nations such as India, China, and Brazil.

-  The global Functional Polyolefins market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Functional Polyolefins market will be able to gain the upper hand as they use the report as a powerful resource.  The strategies mainly include new product Developments, research, and Developments, and also provides revenue shares, company overview, and recent company Developments to remain competitive in the market.

-  The global Catalysts for Polyolefins market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Catalysts for Polyolefins market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by region (country), by Type, and by Application for the period 2016-2027.The major regions covered in the report are North America, Europe, Asia-Pacific, South America, Middle East & Africa, etc.

-  Amorphous Polyolefins Market by Product-Type: Propylene Homopolymer, Copolymer of Propylene and Ethylene, Propylene Homopolymer and Ethylene Copolymer, Others, Application: Hot Melt Adhesive and Pressure Sensitive Adhesive, Bitumen Modification, Polymer Modification, Others, Region: The leading producers in the industry are Evonik, Eastman and REXtac, accounting for 41.28%, 28.53% and 23.73% of revenues respectively in 2019.

-  From a global perspective this report represents overall Nonchlorinated Polyolefins market size by analyzing historical data and future prospect. It is  segmented by Product-Type: Nonchlorinated Polyethylene, Nonchlorinated Polypropylene, Nonchlorinated Polystyrene, Others, Application: Adhesives, Plastic, Paints & Coatings, Rubber, Others, Regions.

-  Thermoplastic Polyolefin (TPO) market offers detailed analysis supported by reliable statistics on revenue global and regional level by players for the period . The report offers comprehensive analysis and accurate statistics on revenue by the player for the period . Length: 146 pages, Tables & Figures: 163, Product: Thermoplastic Polyolefin (TPO), Product-Type: Polethylene, Polypropylene, Functional Polyolefins, Application: Consumer goods, Structural plastics, Food packaging, Industrial products, Others, Regions.

-  The global Polyurethane market size is projected to reach USD 90,980 Million by 2026, from USD 71,320 Million in 2019, at a CAGR of 3.5% during the forecast period 2021-2026.

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