Polyolefins Market Strategies for Expansion Analysis Report: Opportunities and Challenges Ahead
Allied Market Research published a report, titled, "Polyolefins Market by Type (Polyethylene (PE), Polypropylene (PP), and Polystyrene) and Application (Film & Sheet, Injection Molding, Blow Molding, Profile Extrusion, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2028." According to the report, the global polyolefins industry generated $133.9 billion in 2020, and is expected to reach $444.2 billion by 2028, witnessing a CAGR of 12.6% from 2021 to 2028.
The polyolefins market consists of sales of ethylene propylene diene monomer (EPDM) rubber.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
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The value of goods in this market includes related services sold by the creators of the goods.
Polyolefins are a group of polymers containing simple olefins and are categorized as a type of thermoplastics.They are comprised solely of hydrogen and carbon and are obtained from oil and natural gas.
Polyolefins are used for packaging, and making blow-molded components in toys.
Asia-Pacific was the largest region in the polyolefins market in 2022 and is expected to be the fastest-growing region in the forecast period. The regions covered in this polyolefins market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The polyethylene segment to continue its lead position during the forecast period
Based on type, the polyethylene segment held the highest share in 2020, accounting for nearly two-thirds of the global polyolefins market, and is expected to continue its lead position during the forecast period. This is attributed to its applications in industries such as packaging, automotive, electronics, and others. However, the polypropylene segment is expected to witness the largest CAGR of 14.5% from 2021 to 2028. This is due to its increased demand from the healthcare sector for its usefulness as medical plastics in applications such as syringes.
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The film & sheet segment to continue its leadership status throughout the forecast period
Based on application, the film & sheet segment contributed to the largest market share, holding nearly one-third of the global polyolefins market in 2020, and will continue its leadership status throughout the forecast period. Moreover, this segment is projected to portray the fastest CAGR of 13.2% from 2021 to 2028. This is attributed to rise in demand for films and sheets from sectors such as packaging, automotive, electronics, medical, and others. The research analyzes the segments including injection molding, blow molding, profile extrusion, and others.
Asia-Pacific, followed by Europe and North America, to maintain its dominant share by 2028
Based on region, Asia-Pacific, followed by Europe and North America, accounted for the highest market share in 2020, holding around three-fifths of the global polyolefins market, and will maintain its dominant share in terms of revenue by 2028. Moreover, this region is expected to grow at the highest CAGR of 13.6% during the forecast period. This is due to presence of key players in emerging countries such as China, Malaysia, Japan, India, and others along with the demand from industries such as packaging, construction, automotive, and others.
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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