June 09, 2022 10:39 ET | Source: Facts & Factors Facts & Factors
NEW YORK, NY, June 09, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Polyolefins Market - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast Report 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Polyolefins Market size & share was witnessed USD 295.2 billion in 2021 and it is expected to surpass around USD 395.7 billion Mark, by 2028, at a compound annual growth rate (CAGR) of about 5% during the forecast period 2022 to 2028.”
What are Polyolefins? How big is the Polyolefins Industry?
The business has been driven by increasing innovation in plastic technologies, the introduction of low-cost interior furnishings in automobiles, and rigorous industrial requirements regulating carbon emissions. In terms of volume, polyethylene is the fastest-growing product, with a CAGR of 5% during the forecast period. The product's strong tensile strength and impact resistance have contributed to its demand in the film, sheet, and packaging industries. Polyethylene may be heated to its melting point, chilled, and then heated again as needed without substantial strength or quality damage. This enables it to be employed in a variety of applications, including geomembranes, plastic films, and bags.
Government scrutiny has prompted ongoing innovation by players to improve product quality and ensure long-term viability. Waste disposal laws are expected to promote innovation in the usage of polyolefins in the plastics industry. Several investments in this business have also driven innovation in order to serve to a bigger consumer base and reach out to specialized areas.
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Polyolefins have a wide range of useful properties that make them suitable for a wide range of applications. It has low strength and toughness, but it is very ductile and resistant to impact; it will stretch rather than break. Polyolefins are waterproof and durable, making them more resistant to the elements than other polymers. Polyolefins are a good electrical insulator, preventing the formation of electrical shafts, but they can be electrostatically charged. This can be avoided by using antistatic agents. Low-density polyolefins are suitable for packaging applications due to their transparency. Polyolefins, such as HDPE, can be recycled into other products, which is less expensive than manufacturing a new product from new plastic. Its high heat resistance allows it to be used at high temperatures.
Polyolefin is in high demand in a variety of industries, including automotive, electrical and electronics, food and beverage, and consumer goods. Polyolefins' properties, such as high rigidity and resistance to moisture and chemicals, make them suitable for industrial applications, particularly in the packaging of automotive and electrical parts.
Browse the full “Polyolefins Market By Type (Polyethylene (PP) - HDPE, LDPE, LLDPE, Polypropylene (PP), Others), By Application (Film & Sheet, Injection Molding, Blow Molding, Others), By End User (Packaging, Automotive, Building & Construction, Pharmaceuticals/Medicals, Electronics and Electrical), and By Region - Global Industry Insights, Growth, Size, Share, Comparative Analysis, Trends and Forecast 2022 – 2028” Report at https://www.fnfresearch.com/polyolefins-market
Polyolefins Market: COVID-19 Impact Analysis
The demand for polyolefin downstream derivatives is currently low. The current wave of capacity expansions in the polyethylene industry has resulted in oversupply and squeezed profit margins, placing companies under even more strain. For manufacturers already experiencing with supply chain disruptions as a result of the US-China trade war, COVID-19 adds additional lead time to freight delivery. COVID-19, which has been classified as a pandemic by the World Health Organization, is having an impact on global economic growth. The epidemic is impacting operations in various industries as as automotive, oil and gas, construction, aerospace, and others, as most countries have issued "stay at home" orders, i.e., lockdown.
The entire research study examines the polyolefins market from both a qualitative and quantitative standpoint. The supply and demand sides of the market have both been studied. The demand side study looks at market income in different regions before comparing it to the income of all major countries. The supply-side research looks at the biggest competitors in the sector, as well as their regional and worldwide presence and strategy. Each major countries in North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America is explored exhaustively.
In terms of volume, polyethylene and polypropylene are expected to rise rapidly. LLDPE and LDPE are commonly used in electrical insulation, while HDPE is commonly employed in the production of home containers. Due to a high supply-to-demand ratio, international companies in the sector are constantly investing in R&D and innovation to broaden the scope of their end-use applications. Polyethylene has a wide range of applications. Because it is non-toxic in its solid-state, it is often used in food packaging. However, one of its significant drawbacks is its cost, which is often higher than that of other polyolefins. Ethylene-Vinyl Acetate (EVA) is utilized in the processing and packaging sectors because it increases the transparency, flexibility, and toughness of the product it is employed in.
Polyolefin was widely used in food packaging, blown film bags, industrial thermoforming, and other applications, with film and sheet emerging as the dominant application segment. Packing carrier bags, industrial bags, agricultural stretch wraps, and other products are also included in the application scope. Injection molding is another important application for polyolefins such as LDPE, LLDPE, HDPE, EVA, PP, and TPO. The reason for such a broad application range is its lightweight nature, as well as its high chemical resistance and toughness at low temperatures. The majority of polyolefin resins are used in injection molding as pellets.
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The report contains qualitative and quantitative research on the global Polyolefins Market and detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
List of Key Players in the Global Polyolefins Market:
Key Insights from Primary Research:
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Key questions answered in this report:
The Asia Pacific is the world's largest polyolefins market and one of the largest polyolefins users. China has a large part of the industry in the region, while India is predicted to be the region's fastest-growing market. The polyolefins market in the Asia Pacific is predicted to grow due to rising population and rapid industrialization.
These areas' industries are focusing on R&D investments and technical breakthroughs. The building and packaging sectors in the region are expected to drive the polyolefins market. Due to the implementation of new environmental regulations, competition in the global polyolefins market is expected to heat up in the next years. This is expected to open up new prospects for market participants.
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The global polyolefins market is segmented as follows:
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