Latin America Polyethylene and Polypropylene Market to Reach Valuation of US$ 15 Bn by 2030

Latin America Polyethylene and Polypropylene Market: Introduction

In terms of value, the polyethylene and polypropylene in Latin America is anticipated to expand at a CAGR of ~4% from 2020 to 2030. Rise in demand for flexible and rigid packaging products is expected to propel the demand for polyethylene and polypropylene in Latin America during the forecast period. The growth in demand for electrical appliances is also boosting the consumption of polypropylene and polyethylene in the manufacturing of electrical appliances. Moreover, increase in demand for food packaging and rise in preference for packaged & convenience food among consumers, owing to the improvement in lifestyle of the population in developing countries, are propelling the demand for polyethylene and polypropylene products in food packaging. The expansion of major retail networks in emerging economies such as Brazil, Mexico, and Argentina is also augmenting the demand for plastic packaging of food and beverages, fast-moving consumer goods, and durable products. This is providing an impetus to the polyethylene and polypropylene market in Latin America.

𝐑𝐞𝐚𝐝 𝐑𝐞𝐩𝐨𝐫𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰 -https://www.transparencymarketresearch.com/latin-america-polyethylene-polypropylene-market.html

Volatility in Prices of Raw Materials to Hamper Market

Raw materials of polyethylene and polypropylene are derived from petrochemicals. Thus, prices are highly dependent on global petrochemical prices. Fluctuation in the in oil & gas industry affects the production of petrochemicals. This, in turn, leads to fluctuation in the prices of polyethylene and polypropylene. The decline in oil and gas prices can lead to a significant decrease in prices of virgin polymers. As a result, the demand for recycled polyethylene and polypropylene plastics decreases. Volatility in prices of virgin plastics creates fluctuations in demand for recycled polyethylene and polypropylene plastics. The use of recycled and virgin colored polybags for non-food applications is permitted in Mexico, but discouraged for packaging of food items under the Recycled Plastics (Manufacture & Usage) Rules, 1999. This is likely to hamper the polyethylene and polypropylene market in Latin America during the forecast period.

The COVID-19 outbreak has adversely affected the supply of raw materials used in the manufacturing of polypropylene and polyethylene. Manufacturing slowdown in China and the U.S. has not only negatively impacted the production of polyethylene and polypropylene, but has also hampered the supply of raw material across the globe.

𝐆𝐞𝐭 𝐏𝐃𝐅 𝐬𝐚𝐦𝐩𝐥𝐞 𝐟𝐨𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐚𝐧𝐝 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐈𝐧𝐭𝐞𝐥𝐥𝐢𝐠𝐞𝐧𝐜𝐞 -https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=77446

According to the Organization for Economic Co-operation and Development (OECD), COVID-19 is estimated to lower the global GDP by half a percentage point for 2020. These factors are likely to hinder the demand for polypropylene and polyethylene in various end-use industries in Latin America in the next few years.

Polyethylene Products to Dominate Latin America Polyethylene and Polypropylene Market

In terms of product, the polyethylene and polypropylene market in Latin America has been bifurcated into polyethylene and polypropylene. The polyethylene segment dominated the market in the region in terms of revenue in 2019. The polypropylene segment is estimated to be highly lucrative from 2020 to 2030. The polyethylene segment has been further classified into HDPE, LDPE, and LLDPE. HDPE dominated the polyethylene segment of the polyethylene and polypropylene market in Latin America in 2019.

The polypropylene segment has been further divided into homopolymer, random copolymer, and block copolymer. The homopolymer segment dominated the polypropylene market in Latin America in 2019.

Film & Sheet Application of Polypropylene to Offer Lucrative Opportunities

In terms of application, the polyethylene and polypropylene market in Latin America has been segregated into polyethylene: film & sheet extrusion, pipe extrusion, injection molding, blow molding, and others; and polypropylene: injection molding, fiber & raffia, film & sheet, blow molding, and others. The film & sheet segment dominated the polypropylene market in Latin America in 2019. It is expected to be highly lucrative from 2020 to 2030.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 -https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=77446

Packaging to be Dominant End Use Segment of Latin America Polyethylene and Polypropylene Market

Based on end use, the polyethylene and polypropylene market in Latin America has been segregated into polypropylene: packaging, automotive, consumer goods, electrical & electronics, building & construction, and others; and polyethylene: packaging, automotive, consumer goods, electrical & electronics, construction, and others. The packaging segment held major share of the polyethylene and polypropylene in Latin America in 2019. It is anticipated to continue its dominance in the market from 2020 to 2030.

The packaging segment has been bifurcated into flexible and rigid packaging. The flexible packaging segment dominated the packaging segment of the polypropylene market in Latin America in 2019.

Mexico to be Lucrative Country in Latin America Polyethylene and Polypropylene Market

Based on country & sub-region, the polyethylene and polypropylene market in Latin America has been split into Brazil, Mexico, Argentina, and Rest of Latin America. The polyethylene and polypropylene market in Mexico is projected to expand at a CAGR of more than 4% during the forecast period. The demand for polyethylene and polypropylene in Mexico is driven by the growth in packaging and consumer goods industries in the country. Mexico is focusing on optimizing the efficiency of raw materials and energy. The implementation of stringent regulations related to VOC emissions is hampering the demand for polyethylene and polypropylene products in Latin America.

𝐌𝐚𝐤𝐞 𝐚𝐧 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 -https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=77446

Competition Landscape

Key plastic manufacturers dominated the polyethylene and polypropylene market in Latin America in 2019. Mexico has been a lucrative country of the polyethylene and polypropylene market in the region since the last few years. Leading manufacturers of polyethylene and polypropylene in the country have taken initiatives to expand their presence through acquisitions, expansion of production capacity, and strategic partnerships. In February 2018, LyondellBasell Industries Holdings B.V. acquired A. Schulman, Inc., a global supplier of high-performance plastic compounds, composites, and powders, for US$ 2.25 Bn. In July 2019, Exxon Mobil Corporation commenced production of a new line of high-performance polyethylene at its polyethylene plant at Beaumont, Texas, the U.S. In May 2020, INEOS announced plans to build a new ethylene oxide (EO) unit as well as associated downstream ethylene oxide derivatives (EOD) unit at the company' Chocolate Bayou manufacturing facility located at south of Houston, Texas, on the Gulf of Mexico coast.

Key manufacturers operating in the polyethylene and polypropylene in Latin America are Toray do Brasil Ltda., Exxonmobil México S.A. De C.V., LyondellBasell Brasil Ltda, INEOS, CELANESE CORPORATION, Chevron Phillips Chemical Company, SABIC, Braskem Idesa, Alpek, and Borealis AG.

𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

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𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬:

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