Global Polyolefin Market Outlook, Industry Overview Report, 2018-2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Polyolefin Market


The global polyolefin market size was estimated at 149.78 million tons in 2016. Increasing innovation in plastic technologies, advent of cheap interior furnishings in automobiles, and strict industrial standards concerning carbon emissions have been key factors driving the industry.
Polyethylene is the fastest growing product in terms volume, expanding at a CAGR of 6.4% during the forecast period. High tensile strength along with high impact resistance of the product have contributed to its demand in the film and sheet and packaging sectors. Polyethylene can be heated to its melting point, cooled,0 and heated again as per requirement, without significant degradation in strength or quality. This allows it to be widely used in geomembranes, plastic films, and bags, among others.
 
Asia Pacific is anticipated to remain a key region in terms of consumption owing to significant rise in demand from the automotive and construction industries. Strong supply chain of major key players is anticipated to provide lucrative opportunities to ancillary participants to improve their operational status.
Favorable government regulations are significantly driving the food industry in U.S. and Europe, wherein high-grade and innovative olefins are used for packaging and labeling food articles. Scrutiny by governments around the world has brought on constant innovation by players to improve product quality and sustain in the competitive environment. Stringent regulations against waste disposal are anticipated to drive innovation in the use of polyolefins in the plastics market. Innovation in this industry is also fueled by several investments to cater to a larger customer base and to reach out to niche markets as well.

Market Segmentation, Outlook & Viewpoint: Global Polyolefin Market


Product Market Segmentation & Outlook (Volume, Million Tons; Revenue, USD Billion, 2014 - 2025)

Polyethylene

Polypropylene

Ethylene Vinyl Acetate

Thermoplastic Olefins

Others


Application Market Segmentation & Outlook (Volume, Million Tons; Revenue, USD Billion, 2014 - 2025)

Film & Sheet

Injection Molding

Blow Molding

Profile Extrusion

Others


Key Players, Recent Developments & Regional Insights: Global Polyolefin Market


Polyethylene and polypropylene are estimated to grow at a rapid pace in terms of volume. LLDPE and LDPE are widely used in electrical insulation whereas HDPE is used extensively in manufacturing household containers. Owing to strong supply-to-demand ratio, multinational companies in the sector are constantly spending on R&D and innovation to expand their end-use application scope. Polyethylene has numerous significant applications. It is not toxic in its solid state and is therefore, extensively used in food packaging. One of its major constraints, however, is its price; it is generally more expensive than other polyolefins.
Ethylene vinyl acetate (EVA) increases transparency, flexibility, and toughness of the product it is used in and is therefore used in processing and packaging industries. It is also used extensively in footwear, automobile bumpers, and athletic goods, among others. The product also finds application as a cold flow improver for diesel because of its ability to easily transform sheets and molding into desirable shapes. The EVA segment is experiencing steady growth owing to numerous innovations by key companies such as Sinopec Corporation, LyondellBasell Industrial Holdings, and ExxonMobil Chemicals to serve high potential end-use industries; packaging is one such industry.
Thermoplastic olefins (TPO) come with a medium high melt flow, which offers appropriate amount of stiffness and impact resistance. They are widely used in the automotive sector. TPO has the capacity to be easily processed by injection molding and thermoforming. The product also witness high demand from the building and construction sector for its application as roof membranes.
Application Insights
Film and sheet emerged as the dominant application segment, with polyolefin diversely applied in food packaging, blown film bags, industrial thermoforming, and more. The application scope also extends to packing carrier bags, industrial bags, agricultural stretch wraps, among others.
Injection molding is another major application of polyolefin, which includes LDPE, LLDPE, HDPE, EVA, PP and TPO. The reason for such vivid application scope is its characteristics of being lightweight, along with high chemical resistance and good toughness at lower temperatures. Most polyolefin resins are used in pellet form for injection molding.
 
Blow molding is yet another key application owing to advantages of polyolefin, such as good processing ability, chemical resistance, and lower cost compared to other plastics. Blow-molded olefins find application in packaging and automotive industries thanks to benefits of wield-line strength, faster color change, and better processing.
Profile extruded olefins find application in food grade packaging, agriculture, construction, and consumer products. Their typical properties include ease of processing, flexibility, and tear resistance. They can be extruded as monolayer and multilayer films, including LDPE, LLDPE, and HDPE. They can also be coextruded with the help of other polymers such as ethylene vinyl alcohol and polyester barrier resins.

Regional Insights
Asia Pacific emerged as the fastest growing regional polyolefin market in terms of consumption, which can be attributed to expansion of several economies in the region as well as rise in disposable income of consumers. Expanding end-use industries such as construction, packaging, and automotive are also anticipated to be major driving forces. Presence of leading petrochemical companies such as BASF, Sinopec, and Chevron are expected to boost product demand across China, India, Thailand, Vietnam, and other Asian countries.
Asia Pacific is characterized by the availability of skilled labor at low cost as well as vast land. Shift in production landscape toward emerging economies, particularly China and India, is expected to positively influence growth over the forecast period. Increasing construction spending owing to need for sustainable infrastructure is projected to drive growth over the next couple of years.
The major factor driving demand in North America is wide application scope and extensive usage across several key end-use industries such as automotive and transportation, construction, footwear, furniture, consumer goods, packaging, and electronics. Manufacturers across the globe are investing in research and development to widen their business operations and strengthen their product portfolio.
The European market comprises Germany, France, U.K., Russia, Spain, Belgium, and Netherlands, among other Eastern and Central European countries. A revitalized automotive segment in these countries, coupled with increasing consumer disposable income and rise in construction and infrastructural spending, is likely to complement sector growth.
Polyolefin Market Share Insights
Multinationals such as Sinopec Corporations, LyondellBasell Industries Holdings N.V., ExxonMobil Chemicals, and Petrochina Company Limited dominate the global market thanks to constant R&D and strategic initiatives. They have a defined line of work and operate closely with consumer demands, enabling them to establish a sustainable business model globally.
Companies such as Sinopec Corporation, use technological aided innovations in the tumultuous times, to establish their brand in the industry. Other companies such as LyondellBasell Industries Holdings N.V., constantly invest in Research and Development activities in order to come up with a diverse range of products to cater all future demands.

Key Insights Covered: Global Polyolefin Market
1.  North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Polyolefin industry.
2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of Polyolefin industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Polyolefin industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Polyolefin industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Polyolefin industry.

Research Methodology: Global Polyolefin Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other