Global Polyolefin Resins Market Size, Trends, Opportunities and Competitive Analysis 2024-2032

Polyolefin Resins Market Size And Forecast

Polyolefin Resins Market size is growing at a faster pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2021 to 2028.

Polyolefin resin demand is boosted by a shift in the trend toward using polyolefins rather than Polyvinyl Chloride (PVC). Another major factor projected to fuel market expansion during the forecast period is the rising demand for polyolefin resin in the automotive industry owing to its cost-effective physical properties. the Global Polyolefin Resins Market is predicted to increase owing to the low cost of polyolefin resins and their ability to be made utilizing current technologies such as extrusion, blow molding, and injection molding. The Global Polyolefin Resins Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Polyolefin Resins Market Definition

Polyolefins are macromolecules made up of olefin monomer units that have been polymerized. The IUPAC nomenclature term for polyolefins is poly(alkene). These materials are popular as thermoplastics because they are extremely easy to form and can be reshaped several times simply by repeating the heating, molding, and cooling process. They come in a variety of forms, from liquids to solids, and offer lightweight materials that are also durable, flexible, and resistant to chemicals, solvents, and moisture. Polyolefin resins, such as polyethylene (PE) and polypropylene (PP), are common plastics with a wide range of uses. In other words, depending on the material characteristics of the polymer, these polymers are used in a broad range of applications, the most popular of which is consumer plastic. Polyolefin resins are manufactured in a variety of shapes and sizes. Chemical structure, molecular weight, stereoregularity, and crystallinity degree are all unique. A variety of technical procedures are used to create polyolefin resins.

Polymerization reactions involving radical initiators in supercritical ethylene at 150–350°C, as well as a variety of catalytic polymerization processes in hydrocarbon slurry, neat monomer, solution, and gas phase, are among the latter. There are three types of catalysts used in all of the processes: Ziegler–Natta catalysts, chromium oxide catalysts, and metallocene catalysts. Engineering plastics, elastomers, synthetic rubbers, and specialty polymers are only a few of the uses for polyolefin resins as commodity resins. Film, coatings, wire insulation, home, and industrial containers, various forms of pipe and tubing, and components of engineering goods are among these uses. Polyolefin resins have surpassed all other commercially created polymer products in terms of volume. Polyethylene (PE) has subgroups such as high-density HDPE, low-density LDPE, linear low-density LLDPE.

Global Polyolefin Resins Market Overview

Polyolefin resin demand is boosted by a shift in the trend toward using polyolefins rather than polyvinyl chloride (PVC). PVC, a common material in the automotive and construction industries, is considered hazardous to human health and the environment. Owing to their rubber-like properties, polyolefins have replaced PVC in high-performance industrial applications. With its low cost and ability to be made utilizing current technologies such as extrusion, blow molding, calendaring, and injection molding, the market for polyolefin resins is steadily growing. Non-polyolefin resins made from elastomers can be used as an alternative for polyolefin resins, but the latter’s higher production cost prevents substitutes from coming to market.

Furthermore, the Global Polyolefin Resins Market is predicted to increase owing to the low cost of polyolefin resins and their ability to be made utilizing current technologies such as extrusion, blow molding, and injection molding. Despite the fact that PVC is preferred for a variety of applications, governments’ strict regulations are likely to present vast growth opportunities for the Polyolefin Resins Market. Another major factor projected to fuel market expansion during the forecast period is the rising demand for polyolefin resin in the automotive industry owing to its cost-effective physical properties. The automobile industry, which is the largest end-user of this product, is rapidly expanding in developing nations such As China, India, Brazil, and South Africa, fueling demand for polyolefins in the Asia Pacific and other regions mentioned.

China is the world’s largest producer of this compound. Polyolefin resin manufacturing, on the other hand, is expanding in Asian nations including India, Malaysia, and Indonesia. The low cost of raw materials is attracting plenty of North American and European corporations to the Asia Pacific to build up polyolefin manufacturing plants. However, in response to growing environmental concerns, many governments have implemented special regulations to limit the use of plastic in their countries, restraining the global growth of polyolefins. Furthermore, many industries in the market are growing their technological and innovation in product development, which is increasing market growth opportunities. The development of bio-degradable and bio-based plastics will boost the Global Polyolefin Resins Market growth in the next years.

Global Polyolefin Resins Market: Segmentation Analysis

The Global Polyolefin Resins Market is segmented on the basis of Product, Application, And Geography.

Polyolefin Resins Market, By Product

• Polyethylene Type• Polypropylene Type

Based on Product, The market is segmented into Polyethylene Type and Polypropylene Type. Polyethylene is the most common polyolefin in terms of volume. Commercially available grades include a wide range of options. The molecular weight, crystallinity (density), and branching of these compounds differ. Some unique grades can be crosslinked as well. The density varies between 0.87 g/cm3 and 0.97 g/cm3 depending on the extent of branching and the length of the branches. The higher the polymer’s density, the higher the degree of crystallinity, and the stiffer and harder the polymer.

Polypropylene (PP) is the thermoplastic with the 2nd greatest sales volume. Isotactic polypropylenes make up the bulk of the product. They have a crystallinity that is in between LDPE and HDPE. PP has a similar elongation at break to LDPE, but its impact strength and tensile modulus are closer to HDPE. It is relatively easy to form, despite its semicrystalline nature. Polypropylene has a lower density (0.9 g/cc) than most polyethylene and a much greater melting point (160 – 180°C), making it more suitable for high-temperature applications like reportable plastics.

Polyolefin Resins Market, By Application

• Medical Device Field• Automotive Field• Chemical Field• Others

Based on Application, The market is segmented into Medical Device Field, Automotive Field, Chemical Field, and Others. The Automotive Field segment is expected to hold a large market share during forecasted years. Polyolefins are very well for industrial uses, mainly for packaging automotive and electrical spare parts, due to their high rigidity, moisture resistance, and chemical resistance. Companies in the automotive industry, on the other hand, are focusing on increasing vehicle efficiency by reducing vehicle weight. Because of their lightweight, easy processability, sealing, and stiffness properties, polyolefins are the most preferred material.

Polyolefin Resins Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

On the basis of Regional Analysis, The Global Polyolefin Resins Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. Owing to the presence of key manufacturers in the area, Asia Pacific holds a dominating position in the Global Polyolefin Resins Market. The expansion of the automobile industry in rising economies such as China and India is boosting demand for polyolefins in the Asia Pacific, resulting in market growth. North America is the world’s third-biggest market for polyolefin resins, and the region’s growing demand for these compounds is met by importing them from the Asia Pacific. Because of the shale gas development in North America, raw materials became cheaper. This, in turn, is likely to improve polyolefin resin manufacturing in countries such as The US and Canada.

Key Players

The “Global Polyolefin Resins Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are MITSUI CHEMICAL ASIA PACIFIC, Arkema, CNPC, ExxonMobil, LyondellBasell, SABIC, ALPEK, BOREALIS AG, BRASKEM, CHEVRON PHILLIPS CHEMICALS COMPANY, DuPont.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In March 2020: LyondellBasell Industries NV and Liaoning Bora Enterprise Group announced a 50-50 joint venture in Panjin, China, to build an ethylene cracker and accompanying polyolefin derivatives complex with a capacity of 1.1 million tons per year.

• In November 2019: LyondellBasell began commissioning work on its new high-density polyethylene plant in La Porte, Texas, At their new plant, LyondellBasell’s proprietary Hyperzone technology produces 500,000 tons of HDPE per year.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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