Polyolefin Elastomer Market 2019 : Initiatives To Flourish CAGR By 2026 | Key Factors are Tricon Energy Inc., Borealis AG, and SK Global Chemical Co., Ltd., and others

Introduction:
Polyolefin elastomers (POE) are produced by copolymerization of ethylene and different comonomers including butene, propylenehexane, and octane. It shows properties including low density, toughness, elasticity, low temperature ductility, UV resistance, and thermal stability. Increasing demand from various end-use industries such as medical, electrical, electronics, and automotive is expected to propel growth of global polyolefin elastomer market during the forecast period.

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Major players operating in the global polyolefin elastomers market include Mitsui Chemical, Inc., LG Chem Ltd., RTP Company, Inc., DowDuPont Inc., PolyOne Corporation, Siloxane Aggrandize Innovative Industries, Dalmia Polymers LLP, Tricon Energy Inc., Borealis AG, and SK Global Chemical Co., Ltd., and others.

Global Polyolefin Elastomers Market – Insights
The global polyolefin elastomers market was valued at US$ 1,723.8 million in 2018 and is expected to register a CAGR of 8.7% in terms of revenue over the forecast period (2019–2027), to reach US$ 3,602.5 million by 2027.

Growing disposable income among the populace and growing consumer preference towards packaged goods coupled with growing retail industry, especially in Asia Pacific and Latin America is expected to drive growth of the global polyolefin elastomers market. For instance, India Brand Equity Foundation (IBEF), a Trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India, reported that the retail sector is expected to nearly double in valuation from US$ 600 billion in 2015 to US$ 1 trillion by 2020. Therefore, significant growth in food and beverage industry is expected to boost global polyolefin market in the region during the forecast period.

Various factors such as increasing demand for flexible & sustainable food packaging, technological advancement by leading manufacturers, and many more are expected to moderately impact growth of the polyolefin elastomers. Increased innovation and adoption of new technologies has led to increase the product yields. Polyolefin elastomer (POE) blends are prepared by melt mixing for recyclable high voltage direct current (HVDC) cable insulation applications. Enhanced flexibility, high volume resistivity, high breakdown strength as well as excellent thermal properties increase the potential HVDC cable application of (polypropylene) PP/POE blends.

According to United Nations Environment Program, around 322 million tons of plastic was produced in 2015, which accounted to over 900 Empire State Buildings. Moreover, according to a study published in the scientific journal Science Advances, 8.3 billion metric tons of plastic was manufactured, amongst which 6.3 billion metric tons of this had become plastic waste, and only 9% had been recycled. This further stands as one of the major restraints in the polyolefin elastomers market, globally.

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Asia Pacific is expected to witness the fastest growth in the global polyolefin elastomers over the forecast period. This is owing to increasing demand for automobiles and significant growth of the automobile industry in India and China. According to the U.S. International Trade Administration (ITA), China was the largest vehicle producer between 2012 and 2014 and the average number of vehicles produced between 2012 and 2014 was 17.8 million. Moreover, vehicle production in China is expected to cross 27 million by 2020, thereby fuelling growth of the polyolefin elastomer market in this region.

Table of Contents
1. Research Objective and Assumptions
◦ Research Objectives
◦ Assumptions
◦ Abbreviations
2. Market Purview
◦ Report Description
▪ Market Definition and Scope
◦ Executive Summary
▪ Market Snippet, By Application
◦ Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
◦ Market Dynamics
▪ Drivers
• Supply Side Drivers
• Demand Side Drivers
• Economic Drivers
▪ Restraints
▪ Market Opportunities
▪ PEST Analysis
▪ PORTER Analysis
▪ Industry Trend
▪ Mergers and Acquisitions
◦ Cost Tier Down Analysis

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This release was published on openPR.