ID: MRFR/CnM/1163-HCR | 117 Pages | Published By Priya Nagrale on March 2023
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.
The Polyolefin Market has a CAGR of 8% 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.
Polyolefin is light in weight. That’s why industries around the world prefer to use it in different applications and in making different products. Polyolefin is also very durable. It is also resistant to many chemical reactions. This characteristic and quality alone make it preferred in many industrial processes and operations.
COVID-19 Analysis COVID-19 is not a virus that should be taken lightly. Government officials realized this more than a year ago when COVID-19 first became a problem around the world. The virus made some of the people who got it very sick - they had to be hooked to ventilators in hospitals because they had low oxygen levels and breathing problems. A small minority of those people died from the virus. Governments around the world sought to contain the spread of this virus with lockdowns and quarantines. These only lasted for a few months because they were not very effective in the long term. Many industries suffered because they were forced to either shut down temporarily or dramatically scale back operations temporarily. The Polyolefin Market was one of these casualties. Manufacturers of this substance found that the raw materials that were needed to make it were hard to come by. The raw materials were also very expensive. This drove the costs of producing polyolefin up. Manufacturers charged more for the final product because they had to recuperate their dramatically higher expenses.
What has been driving growth in this Polyolefin Market has been a greater demand for packaging that is friendly to the environment. Industries increasingly demand this since many companies in many industries are policing themselves. Also, companies in every industry around the world are under increasing pressure to safeguard the environment. They are being asked to start this by being mindful of the materials that they package their brands in. The general public around the world is much better educated and they also demand that companies be mindful of what they package the products that they sell in.
People around the world are also demanding that the products that they buy be packaged in travel-sized packaging. This is also a major driver of growth.
Many companies in the Polyolefin Market are enticed by the market’s high CAGR. They are also enticed by its lucrativeness. That’s why they're investing billions in research and development. The objective is to come up with a new generation of polyolefin materials that are safer for human use and mindful of the environment. They also want to come up with materials that have much more diverse and innovative uses.
Polyolefin is not easy or cheap to make. This is a factor that is holding back its overall potential growth possibilities.
Perhaps the greatest challenge that Polyolefin Market Manufacturers around the world face lie in continuing to produce materials (polyolefin) that have more useful and innovative applications while keeping them safe for humans to use and safe for the environment.
Cumulative Growth Analysis
The CAGR for the Polyolefin Market is 7% from 2016 to 2022. The market is expected to be worth USD 300 billion in 2022.
Dow Chemical Co is a major American player in the Polyolefin Market. It has managed to build and retain its superior market position by creating a sustainable competitive advantage. Dow has managed to do this by investing heavily in research and development. The result has been the development and the introduction to the market of a new generation of polyolefin solutions that have far more diverse and useful applications than previous generations did. These solutions are also safer for humans and friendlier for the environment than previous generations were.
Polyolefin Market Segments:
The Polyolefin Market can be separated into the following sub-segments by Type:
The Polyolefin Market can be separated into the following sub-segments by Application:
The film and sheets sub-segment are expected to have the highest CAGR.
The Polyolefin Market can be separated into the following Regions:
The Asia-Pacific region has the highest CAGR in the world. The reason is that the nations that make up this region are rapidly urbanizing and modernizing. The Asia-Pacific region currently accounts for 46% of the total Polyolefin Market Share. The nations of India, China, and South Korea are industrializing rapidly. They are also experiencing rapid economic growth and rapid modernization. The middle classes are exploding in these three nations. These are some of the factors that are leading to high demand in these nations and in the region in general.
It should also be noted that the middle classes in the Asia-Pacific region are much better educated than their parents were. They are also much more conscious about the environment than their parents were. They are demanding that industries be held accountable for their actions by packaging their goods and brands in environmentally friendly packaging that is also safe for humans and domestic animals.
The middle classes in India and China especially clamor for consumer goods that can act quickly. These include digital and smart mobile devices.
Also, many Polyolefin Market Manufacturers are setting up manufacturing operations in the Asia-Pacific region. This is increasing demand for these materials. This is not expected to slow down anytime soon - COVID-19 notwithstanding. In fact, the Asia-Pacific region is expected to be the dominant region in terms of CAGR for the years that this report covers.
That said, the North American region was the leader in terms of regional Polyolefin Market Share in the year prior to the year that this report began to study. In 2015 the North American region accounted for the largest number of sales of polyolefin materials worldwide.
The European Union and the rest of the world will experience decent CAGR. their Polyolefin Market Shares are also expected to grow at a healthy pace until 2022. The North American region, and especially the United States of America has a high concentration of companies that make polyolefin materials. This is part of the reason why growth and demand are expected to be high in this region.
All companies in all parts of the world are investing heavily in research and development. The objective is to come up with newer and more effective materials with better applications that are also environment and mammal friendly.
The Polyolefin Market around the world is very competitive despite reasonable barriers to entry. The reason is that the market is very lucrative and has a respectable CAGR. these two factors are enticing many companies to enter the market at a breathtaking rate. Companies are finding that they can remain profitable only if they create a sustainable competitive advantage. There are three primary ways that they can do this:
Companies that do research and development create a real future for themselves in the Polyolefin Market. It is because they develop and market a new generation of more effective solutions that are safe for use around mammals and respect the environment. These solutions also have many more useful and innovative applications than the previous generations did. Thus, it is rare to find a company in this industry that doesn’t invest heavily in research and development.
Companies increase their resource pools when they merge with and acquire other companies. This is especially true in relation to financial capital and human resources. They are now in a much better position to do research and development. This allows them to come up with superior products that are more innovative and have a wider range of better applications. The products sell better, they sell to more companies in more markets and they allow companies that make them to justify charging more for them.
Companies find themselves in the same position when they enter into joint ventures with other companies.
Dow Chemicals Co has invested heavily in research and development. It has managed to create a name for itself in America and around the world because it has come up with many useful products with better, more numerous, and more innovative applications.
List of Companies
|Market Size||USD 323.5 boillion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, By Application and By Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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, and Arkema S.A.|
|Key Market Opportunities||
|Key Market Drivers||Easy availability of raw materials and demand for eco-friendly packaging is boosting market growth.|
The polyolefin market is projected to grow at a 8% CAGR between 2022-2030.
The polyolefin market is predicted to touch USD 323.5 billion by 2030.
The APAC region is expected to lead the polyolefin market.
Easy availability of raw materials and demand for eco-friendly packaging is boosting market growth.
It has extensive applications in tapes and fibers, injection molding, blow molding, and films & sheet.