Global Polyolefins Market to Reflect Impressive Growth Rate | Key Players: Dow DuPont, Sinopec Corporation, Total SA, Arkema SA, LyondellBasell, SABIC, and Chevron Phillips Chemical Company LLC.

The Polyolefins market is expected to reach USD 414.58 billion by 2026 from USD 245 billion in 2017, at a CAGR of 6.2%.

Polyolefins are among the largest synthetic polymer used for manufacturing different end-use products. These synthetic polymers are largely used on account of their excellent mechanical properties such as light-weight, high chemical resistance, and low cost of production. Polyolefins are the polymeric compounds of olefins and account for over 50% in weight of the produced polymers. The global market constitutes of more than 300 grades of commercial polefins with wide array of mechanical properties.

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Polyolefins are of different types, such as polyethylene, polypropylene, thermoplastic olefins, and others. The global polyolefins market is mainly driven by the massive demand from the plastic industry. Plastics in the current scenario is the most pervasive workhorse material of the modern economy due to its low cost and highly functional properties. Plastic packaging and commodity plastics are the most lucrative segments of the plastic industry, rapidly driving the demand for polyolefins.

Top Key Player: -

ExxonMobil Chemical
Dow DuPont
Sinopec Corporation
Total SA
Arkema SA
LyondellBasell
SABIC
Chevron Phillips Chemical Company LLC.

Infrastructure development, increased economic growth, and rising per-capita consumption have best illustrated the growth opportunities in the polyethylene market, resulting in increased consumption of polyolefins. The demand of polyethylene for consumables such as films, packaging materials, and numerous other items for large industrial applications and residential purpose is a crucial growth parameter for the market.

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Rapidly expanding downstream businesses of the petrochemical value chain, especially in the developing countries has led to growth in the consumption of polyolefins for manufacturing of different commodity products. The growth of polyolefins is directly led by the increased consumption of end-use products such as flexible packaging, commodity plastic products, and bio-based products.

Polyolefins are the derivatives produced from crude oil and thus subjected to intense price volatility. The petrochemical industry has witnessed extreme price volatility in 2017, which is likely to impact the competitiveness and profit margins of the crude oil and the derivative industries including polyolefins. Albeit the signs of growth in the major commodity polymers, the demand for polyolefins and related synthetic polymers is anticipated to remain exposed to numerous unpredictable factors.

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Competitive Landscape

The emerging nations are anticipated to witness a mixed performance in terms of growth wherein the advanced countries have witnessed steady growth in spite of many bearish conditions. Asia, Africa, and the Middle East are likely to experience the fastest growth of polyolefins.

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