According to ChemAnalyst report, “Polyolefins Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, Polyolefins market has shown considerable growth in historic period and is anticipated to grow at healthy CAGR of 5.64% during the forecast period. The growth in demand for polyolefins is due to the growing demand for packaging films in the food and pharmaceutical industries. In addition, polyolefins are used in the manufacture of lightweight automotive parts, which will boost the global polyolefin market over the next ten years. Polyolefin production is strongly correlated with human health and environmental safety prior to use, further increasing compliance and macroeconomic factors.

Polyolefin is essentially a type of polymer that belongs to the polyethylene (PE) and polypropylene (PP) family of thermoplastics. Polyolefins are essentially non-toxic, durable and heat resistant and resistant to various chemical corrosions. The two main polyolefins in commercial use are polyethylene and polypropylene, which are processed by common techniques such as blow molding, injection molding, extrusion, and thermoforming. Other specialty polyolefins include polybutene, polyisobutene, and polymethylpentene.

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The Plastic industry dominates the global Polyolefins market in 2020 due to their versatile characteristics which make them suitable for numerous end-use applications such as rigid plastics, flexible films, bottles and containers, pouches, etc.

On the basis of product type, the market can be segmented into polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), ethylene vinyl acetate (EVA) and others. In 2020, polyethylene had the largest market share, followed by polypropylene. Growing demand for LLDPE films from the food and pharmaceutical packaging sector and increasing consumption of HDPE in the manufacture of blow-molded containers and construction-related products will fuel the growth of the sector during the forecast period. In addition, increasing demand for polypropylene used in packaging in the food and pharmaceutical industries is one of the major factors driving the overall market till 2030. It is believed that due to the increasing use of polyolefins in the interior and exterior finishing of cars, it is expected to decrease of weight encourage market growth. Other polymers in high demand are polyvinyl chloride (PVC) resins, especially in construction applications such as pipes or window frames, polystyrene (PS) for food packaging (such as cups, trays and bottles) and ethylene vinyl acetate for adhesives and coatings. and packets.

In 2020, as the consequence of COVID-19, the world economy was highly impacted. The production and manufacturing units were temporarily shut down. Many leading market players halted their operations while keeping their employee’s health and wellness in mind. In the first half of 2020, there was a significant fall in the prices of Polyolefins. However, the market hiked by appreciable demand for polymers from packaging and medical industry amid the global crises. Due to government guidelines with proper precautions, the market is anticipated to regain its growth over the next few years.

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Region wise, Asia Pacific region dominates the global Polyolefins market due to high demand in 2020. Due to the consistent growth in the demand of Polyolefins from emerging economies like China and India, which are planning to expand their capacities to fasten their manufacturing base and deepen their penetration in the export markets. Rapid industrialization, growing e-commerce sector and increased demand for packaging applications in the food and beverage industry are the key factors responsible for the market growth.

Some of the major players operating in Polyolefins market include China Petroleum & Chemical Corporation (Sinopec Corp.), LyondellBasell Industries N.V., Exxon Mobil Corporation Ltd., SABIC, Dow Inc., INEOS Group Holdings S.A. and Others.

“Being linked to the downstream applications in the building, construction and automotive industry, the Global Polyolefins Industry has shown a considerable growth in historic period and is anticipated to bolster the market in the forecast period along with the increasing population and ever-changing consumer preference. Due to coronavirus pandemic, Nationwide lockdowns around the world had affected the global supply chain logistics and caused immediate shortage of raw materials which led to the increased prices of Polyolefins. With emerging competitors across the Polyolefins market, it is extremely important to keep an eye on which region will grab the biggest market share during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.

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