Market Overview

The market for polyolefin is expected to grow at a CAGR of less than 8% during the forecast period. Major factors driving the market studied is shift in preferences from rigid packaging to flexible packaging.

  • Growing focus on green polyolefin is likely to act as an opportunities.
  • Asia-Pacific dominated the market across the globe with the largest consumption in a country such as India, China, etc.



Key Market Trends

Increasing Demand for Polyethylene

  • Presently, polyethylene is the most widely used plastic resin in the world, owing to its easy processability, low cost, and versatile nature. It makes about 40% of the resins that are used in numerous end-user applications. As the industry is increasingly becoming integrated, the factors that have a major impact on the market are changing accordingly.
  • With the development of ethylene feedstocks from new sources, such as bio-based materials, coal, and shale, the polyethylene prices are expected to have advantage over other plastics resins, while boosting the demand and usage of polyethylene in the market. Additionally, consistent advancements in the polymerization catalysts technologies are expected to enhance the yield, performance, and customization of polyethylene resins.
  • HDPE, LDPE, and LLDPE are the most commonly used forms of polyethylene.
  • HDPE, owing to its numerous properties and advantages, is used in numerous applications. HDPEs are resistant to most chemical solvents, UV resistant, non-leaching, can withstand temperature from -148 to 176?F , and are also cost-effective plastics.
  • HDPE is great for blow molding applications, and is used in food and beverage containers. Its recyclable nature makes it feasible for highly disposable products.
  • It is also used in chemical containers, owing to its chemical resistant properties. It is used in shampoo
  • Polyethylene (HDPE, LDPE, LLDPE) comprises the major proportion of polyolefins used in film extrusion.
  • Polyethylene fibers have the maximum market share in the fiber segment. Elastolefin, a fiber composed of at least 95% (by weight) of ethylene and at least one other olefin, is very popular, owing to its good elastic properties. High molecular weight polyethylene fibers (HMWP) are widely used in protective apparels.
  • Piping systems in high-density polyethylene (HDPE, PE100, PE80) are fast becoming the most commonly used piping systems in the world, owing to their economic viability, as well as low toxicity.
  • All the above factors are likely to increase the demand for the market.



China to Dominate the Asia-Pacific Region

  • China is one of the fastest emerging economies, and has presently become one of the biggest production houses in the world. The country’s manufacturing sector is one of the major contributors to its economy.
  • Presently, China is a major consumer of polyolefin worldwide. The growth is majorly driven by the increase in e-commerce, as the strong courier business has led to a spike in demand for plastic packaging.
  • The country primarily relies on the imports from the United States to meet the demand for PE. The United States exported 600,000 metric ton of PE to China. The huge shale gas-based capacities in the United States have inundated China with PE.
  • Electronic products, such as smartphones, OLED TVs, tablets, and so on have the highest growth in the market in the consumer electronics segment. With increase in the disposable income of middle-class population, the demand for electronic products is projected to grow in the near future, thereby driving the demand for polyolefins in the country.
  • All the factors are likely to increase the demand for the market over the forecast period.



Competitive Landscape

The polyolefin (po) market is partially consolidated. Some of the major players include Lyondellbasell Industries Holdings BV, Exxon Mobil Corporation, SABIC, LG Chem, and Arkema Group, amongst others.

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