Polyolefin Market worth USD 310.0 Million, Globally, by 2027 at 6.5% CAGR: Emergen Research
According to a recent estimate by Emergen Research, the worldwide polyolefin market would be worth USD 310.0 million by 2027. The adoption of environmentally friendly polyolefins, which have less impact on the environment and fewer emissions, has increased recently. This is due to increased consumer awareness of environmental protection, increased attempts to reduce the disposal of plastic waste, and tight governmental regulations. In addition to adhering to environmental regulations, businesses are heavily spending in R&D projects to create unique plastic materials that could eventually replace traditional plastics in terms of their physical and chemical qualities.
The market is anticipated to be driven by the emerging countries’ rapid development, rising consumer demand for alcoholic beverages, and light, fuel-efficient vehicles. Due to its use in a variety of industrial applications and its ease of moulding, plastic is becoming more and more in demand. Ethylene and propylene are typically polymerized to produce polyolefins from natural gas and oil, respectively. It is formed of monomers, hydrocarbons, and olefins and has excellent chemical stability, a high degree of processability, and a long lifespan.
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Key Highlights From The Report.
In April 2019, the chemical company Dow Chemicals from Michigan won the Edison prize for its ground-breaking polyolefin dispersion epoxy coating for Canvera metal. The coating improvises polyolefin dispersion to decrease epoxy and bisphenol A.
The medical industry is under increasing pressure to use fewer single-use plastics. At the moment, the company relies heavily on PVC, a type of plastic that is bad for the environment. However, current research shows that the use of polyolefin-based plastics can reduce both energy use and combustion-related pollutants.
The residential sector has recently seen an increase in investments, which has been followed by changes in the packaging industry. In the upcoming years, these elements are probably going to encourage market expansion. If this keeps up, sales of polyolefins will likely increase at a consistent rate during the ensuing few years. Within the next few years, competition in the worldwide polyolefins market is likely to intensify due to the implementation of strict environmental regulations. Players in the market may find new opportunities as a result of this.
DuPont, The Dow Chemical Company, Bayer AG, LyondellBasell Industries, and BASF SE are a few notable participants.
For the purpose of this report, Emergen Research has segmented into the global Polyolefin Market on the technology, application and region:
Technology Outlook (Revenue, USD Billion; 2017-2027)
- Ethylene Vinyl Acetate
- Thermoplastic Olefin
Application Outlook (Revenue, USD Billion; 2017-2027)
- Film and Sheet
- Injection Molding
- Blow Molding
- Profile Extrusion
Regional Outlook (Revenue: USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
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