Polyolefin Elastomer (POE) Market | Mitsui Chemical, Inc., LG Chem Ltd., RTP Company, Inc., DowDuPont Inc., PolyOne Corporation

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.

Among applications, packaging segment accounted for the largest market share in 2018, in terms of revenue. Polyolefin elastomers (POE) are extensively used in food and non-food packaging. POE has high levels of comonomer, producing soft, flexible, and very low density materials, owing to which it has applications in seals, closures, wads for caps, liners and flexible bags, and pouches especially for the food and beverages packaging. They are also used for case and carton sealing, plastic bags, vacuum bags, and others.

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Detailed Segmentation:

Global Polyolefin Elastomer Market, By Application:
Packaging
Automotive
Polymer Modification
Wires and Cables
Medical
Others

Among regions, Asia Pacific held dominant position in the global polyolefin elastomer market, in terms of revenue share, in 2018. This is owing to increasing production of automobiles and high use of polyolefin elastomer in making interior and exterior applications. It is used as an impact modifier for automotive components such as dashboards, door trims, instrumental panel, auto interiors, car bumpers, and others.

North America is expected to record fastest growth in the market over the forecast period. This is owing to increasing demand for automotive in the U.S. And Canada. The U.S. is one of the largest automotive markets at global level. According to the U.S. Department of Commerce, in 2016, the U.S. exported around 2.1 million light vehicles, which were valued at US$ 57 billion, to most of the countries across the globe, along with additional exports of automotive parts that were valued at US$ 80 billion. This industry also accounts for 3 to 3.5% of U.S. gross domestic product, which further drives growth of the polyolefin elastomers market in this region.

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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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