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At a compound annual growth rate (CAGR) of 10.7 percent between 2023 and 2030, the size of the global polyolefin market is expected to increase from its 2022 valuation of USD 240.7 billion to USD 732.8 billion.
Recent years have seen explosive expansion for the worldwide polyolefin market, and experts predict that trend will only accelerate in the years to come. The thermoplastic polymers known as polyolefins are constructed from olefins like ethylene and propylene. They are popular in many fields because of their high quality mechanical qualities, adaptability, and low price. Increasing demand from the packaging industry is one factor fueling the expansion of the global market. Flexible and stiff packaging made from polyolefins, especially polyethylene, is widely utilized. Polyolefin-based packaging solutions are in high demand due to the expansion of e-commerce and the growing preference of consumers for pre-packaged goods. Polyolefins are highly regarded as a sustainable packaging option due to their low weight, which helps cut down on fuel consumption and pollution. Polyolefins have become increasingly popular in the automotive industry as a result of the growing need for lighter automobiles to improve economy and cut emissions. Polyolefins are ideal for use in a wide variety of automobile applications due to their resilience to chemicals, long service life, and adaptability to a wide range of designs.
Categorization by Form
The worldwide market for polyolefins was dominated by polypropylene. Because of its high stiffness, outstanding impact strength, and resistance to chemicals, this thermoplastic polymer can be used in a variety of settings. Many different types of packaging, auto parts, consumer items, and building materials are made from polypropylene. Its prominence in the polyolefin market can be attributed to its adaptability and desirable features.
While the global market for polyolefins as a whole is expanding, polythene (also known as polyethylene) is expanding at a higher rate. Polythene has excellent tensile strength, flexibility, and chemical and moisture resistance at a low cost. It's used in several fields, including packaging, farming, building, and medicine. Polythene's increased usage and market growth are driven by the rising demand for lightweight, sustainable packaging solutions, as well as the expanding construction and agricultural sectors.
Evaluation Through Use
The packaging industry accounts for the largest share of the worldwide polyolefin market, followed by the automotive industry, the construction industry, consumer goods, and healthcare. The most important and widespread usage of polyolefins is in packaging. Many types of packaging, such as flexible packaging, rigid packaging, bottles, containers, and films, make substantial use of polyolefins like polyethylene (PE) and polypropylene (PP). Polyolefins are in high demand in the packaging sector because of their many desirable qualities, including their low weight, strength, adaptability, resistance to moisture, and low cost. Polyolefin-based packaging materials continue in high demand due to the expanding e-commerce, food and beverage, and consumer goods markets, making this application segment the largest contributor to the worldwide polyolefin market.
The healthcare industry stands out as the fastest-growing application in the worldwide polyolefin market. Polyolefins are finding more and more uses in the medical industry, including in packaging, devices, drug delivery systems, and diagnostics. The rising importance of safety, hygiene, and cost-efficiency in healthcare has led to the widespread use of polyolefin materials in this sector. Sterilization, chemical resistance, and biocompatibility are just a few of the reasons why polyolefins are increasingly being used in medical settings. A growing number of people around the world, more money being spent on healthcare, and improved medical technology are all factors in the expansion of the healthcare industry. Therefore, the healthcare application sector of the worldwide polyolefin market is expanding rapidly.
Drivers
Increases in Popular Products
The increasing demand for consumer goods is fueling expansion in the worldwide polyolefin industry. Toys, home appliances, furniture, and cosmetics are just some of the many everyday objects made from polyolefins like polyethylene and polypropylene. Increases in disposable income, changes in consumer preferences, and overall population expansion all play a role in driving up the demand for consumer goods, which in turn increases the need for polyolefins.
Restraints
Raw material price fluctuations
Raw material price fluctuations have an effect on the polyolefin industry. Feedstocks including crude oil and natural gas are used to create polyolefins. The pricing of these inputs has the potential to have a sizable effect on the overall cost of manufacturing polyolefins. Manufacturers have difficulties when prices fluctuate since it might cut into their profits and cause market uncertainty. The polyolefin market faces difficulties due to the fact that supply and demand dynamics, as well as geopolitical concerns, can affect the price and availability of raw materials.
Important Developments in the Market
Sustainable and environmentally friendly solutions are becoming more prioritized in the global polyolefin industry. As environmental issues continue to receive greater attention around the world, businesses are adopting greener methods and products. Polyethylene and polypropylene are two examples of polyolefins that find widespread use because of their adaptability, resilience, and low production costs. Nonetheless, there is a rising need in the market for polyolefins that are made with greener methods and cause less damage to the environment in all stages of their existence.
Report Coverage
Global Polyolefin research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Polyolefin report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Polyolefin competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Polyolefin market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Polyolefin market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Polyolefin market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
LyondellBasell Industries N.V. (Netherlands), SABIC (Saudi Arabia), ExxonMobil Corporation (US), Dow Inc. (US), Chevron Phillips Chemical Company LLC (US), TotalEnergies SE (France), INEOS Group Holdings S.A. (UK), Sinopec (China), Braskem S.A. (Brazil), Borealis AG (Austria), Formosa Plastics Corporation (Taiwan), Mitsui Chemicals, Inc. (Japan), LG Chem Ltd. (South Korea), Reliance Industries Limited (India), Versalis S.p.A. (Italy), LyondellBasell Industries Holdings B.V. (US), Arkema S.A. (France), Lotte Chemical Corporation (South Korea), Sumitomo Chemical Co., Ltd. (Japan), Saudi Basic Industries Corporation (SABIC) (Saudi Arabia)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Polyolefin market based on the below-mentioned segments:
Global Polyolefin Market, By Type
Polythene
Polypropylene
Global Polyolefin market, By Application
Packaging
Automotive
Construction
Consumer Goods
Healthcare
Global Polyolefin market, Regional Analysis
Recent years have seen explosive expansion for the worldwide polyolefin market, and experts predict that trend will only accelerate in the years to come. The thermoplastic polymers known as polyolefins are constructed from olefins like ethylene and propylene. They are popular in many fields because of their high quality mechanical qualities, adaptability, and low price. Increasing demand from the packaging industry is one factor fueling the expansion of the global market. Flexible and stiff packaging made from polyolefins, especially polyethylene, is widely utilized. Polyolefin-based packaging solutions are in high demand due to the expansion of e-commerce and the growing preference of consumers for pre-packaged goods. Polyolefins are highly regarded as a sustainable packaging option due to their low weight, which helps cut down on fuel consumption and pollution. Polyolefins have become increasingly popular in the automotive industry as a result of the growing need for lighter automobiles to improve economy and cut emissions. Polyolefins are ideal for use in a wide variety of automobile applications due to their resilience to chemicals, long service life, and adaptability to a wide range of designs.
Categorization by Form
The worldwide market for polyolefins was dominated by polypropylene. Because of its high stiffness, outstanding impact strength, and resistance to chemicals, this thermoplastic polymer can be used in a variety of settings. Many different types of packaging, auto parts, consumer items, and building materials are made from polypropylene. Its prominence in the polyolefin market can be attributed to its adaptability and desirable features.
While the global market for polyolefins as a whole is expanding, polythene (also known as polyethylene) is expanding at a higher rate. Polythene has excellent tensile strength, flexibility, and chemical and moisture resistance at a low cost. It's used in several fields, including packaging, farming, building, and medicine. Polythene's increased usage and market growth are driven by the rising demand for lightweight, sustainable packaging solutions, as well as the expanding construction and agricultural sectors.
Evaluation Through Use
The packaging industry accounts for the largest share of the worldwide polyolefin market, followed by the automotive industry, the construction industry, consumer goods, and healthcare. The most important and widespread usage of polyolefins is in packaging. Many types of packaging, such as flexible packaging, rigid packaging, bottles, containers, and films, make substantial use of polyolefins like polyethylene (PE) and polypropylene (PP). Polyolefins are in high demand in the packaging sector because of their many desirable qualities, including their low weight, strength, adaptability, resistance to moisture, and low cost. Polyolefin-based packaging materials continue in high demand due to the expanding e-commerce, food and beverage, and consumer goods markets, making this application segment the largest contributor to the worldwide polyolefin market.
The healthcare industry stands out as the fastest-growing application in the worldwide polyolefin market. Polyolefins are finding more and more uses in the medical industry, including in packaging, devices, drug delivery systems, and diagnostics. The rising importance of safety, hygiene, and cost-efficiency in healthcare has led to the widespread use of polyolefin materials in this sector. Sterilization, chemical resistance, and biocompatibility are just a few of the reasons why polyolefins are increasingly being used in medical settings. A growing number of people around the world, more money being spent on healthcare, and improved medical technology are all factors in the expansion of the healthcare industry. Therefore, the healthcare application sector of the worldwide polyolefin market is expanding rapidly.
Drivers
Increases in Popular Products
The increasing demand for consumer goods is fueling expansion in the worldwide polyolefin industry. Toys, home appliances, furniture, and cosmetics are just some of the many everyday objects made from polyolefins like polyethylene and polypropylene. Increases in disposable income, changes in consumer preferences, and overall population expansion all play a role in driving up the demand for consumer goods, which in turn increases the need for polyolefins.
Restraints
Raw material price fluctuations
Raw material price fluctuations have an effect on the polyolefin industry. Feedstocks including crude oil and natural gas are used to create polyolefins. The pricing of these inputs has the potential to have a sizable effect on the overall cost of manufacturing polyolefins. Manufacturers have difficulties when prices fluctuate since it might cut into their profits and cause market uncertainty. The polyolefin market faces difficulties due to the fact that supply and demand dynamics, as well as geopolitical concerns, can affect the price and availability of raw materials.
Important Developments in the Market
Sustainable and environmentally friendly solutions are becoming more prioritized in the global polyolefin industry. As environmental issues continue to receive greater attention around the world, businesses are adopting greener methods and products. Polyethylene and polypropylene are two examples of polyolefins that find widespread use because of their adaptability, resilience, and low production costs. Nonetheless, there is a rising need in the market for polyolefins that are made with greener methods and cause less damage to the environment in all stages of their existence.
Report Coverage
Global Polyolefin research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Polyolefin report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Polyolefin competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Polyolefin market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | LyondellBasell Industries N.V. (Netherlands), SABIC (Saudi Arabia), ExxonMobil Corporation (US), Dow Inc. (US), Chevron Phillips Chemical Company LLC (US), TotalEnergies SE (France), INEOS Group Holdings S.A. (UK), Sinopec (China), Braskem S.A. (Brazil), Borealis AG (Austria), Formosa Plastics Corporation (Taiwan), Mitsui Chemicals, Inc. (Japan), LG Chem Ltd. (South Korea), Reliance Industries Limited (India), Versalis S.p.A. (Italy), LyondellBasell Industries Holdings B.V. (US), Arkema S.A. (France), Lotte Chemical Corporation (South Korea), Sumitomo Chemical Co., Ltd. (Japan), Saudi Basic Industries Corporation (SABIC) (Saudi Arabia) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Polyolefin Market from 2021 to 2030.
- Market Forecast for Polyolefin Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Polyolefin competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Polyolefin
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Polyolefin market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Polyolefin market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
LyondellBasell Industries N.V. (Netherlands), SABIC (Saudi Arabia), ExxonMobil Corporation (US), Dow Inc. (US), Chevron Phillips Chemical Company LLC (US), TotalEnergies SE (France), INEOS Group Holdings S.A. (UK), Sinopec (China), Braskem S.A. (Brazil), Borealis AG (Austria), Formosa Plastics Corporation (Taiwan), Mitsui Chemicals, Inc. (Japan), LG Chem Ltd. (South Korea), Reliance Industries Limited (India), Versalis S.p.A. (Italy), LyondellBasell Industries Holdings B.V. (US), Arkema S.A. (France), Lotte Chemical Corporation (South Korea), Sumitomo Chemical Co., Ltd. (Japan), Saudi Basic Industries Corporation (SABIC) (Saudi Arabia)
Primary Target Market
- Market Players of Polyolefin
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Polyolefin market based on the below-mentioned segments:
Global Polyolefin Market, By Type
Polythene
Polypropylene
Global Polyolefin market, By Application
Packaging
Automotive
Construction
Consumer Goods
Healthcare
Global Polyolefin market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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