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Polyolefins Market : By Top Players, Trends And Forecast 2023-2032 | Exxonmobil Corporation, SABIC, Sinopec Group, Total SA, Arkema SA
Polyolefins Market Research
The Business Research Company's Polyolefins Global Market Report 2023 identifies increase in demand for packaged food as the major driver for the Polyolefins market's growth in the forecast period. Packaged food is a type of food that saves time in food acquisition, preparation, and is ready-to-eat food from grocery stores. Polyolefins are used to pack food products with mechanical strength, and cost-efficiency, as a result, increasing demand for packaged food increases the demand for polyolefins market. For instance, according to the Press Information Bureau, a nodal agency of the Government of India, India exported more than $ 2.14 billion worth of final food products in 2020-21.
The global polyolefins market size grew from $195.54 billion in 2022 to $220.45 billion in 2023 at a compound annual growth rate (CAGR) of 12.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The polyolefins market size is expected to grow to $346.21 billion in 2027 at a CAGR of 11.9%.
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Major competitors in the Polyolefins market are Exxonmobil Corporation, SABIC, Sinopec Group, Total SA, Arkema SA, LyondellBasell Industries, Braskem SA, Total SA, BASF SE, Sinopec Group, Bayer AG, Reliance Industries, Borealis Ag, Ineos Group AG, Repsol, Petrochina Company Ltd., Ducor Petrochemical, Formosa Plastics Corporation, Chevron Phillips Chemical Co., and Reliance Industries
A key trend in the Polyolefins market includes technological advancements. Major companies operating in the polyolefins market are focused on product innovations to strengthen their position in the market. For instance, in May 2020, Braskem a US-based manufacturer of polyolefins developed polyolefin-based additive manufacturing materials. The company added products such as powder for powder-bed fusion technology, pellets with pellet extrusion technology, and polyolefin-based filament with material extrusion technology. These newly developed products can be used for fused filament fabrication for personal and industrial uses.
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The Polyolefins market is segmented -
By Type: Polyethylene (PP) - HDPE, LDPE, LLDPE, Polypropylene, Other Types
By Application: Films and Sheets, Blow Molding, Injection Molding, Profile Extrusion, Other Applications
By End-User: Packaging, Automotive, Construction, Pharmaceuticals/Medical, Electronics & Electricals
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Polyolefins market.
The Business Research Company's "Global Polyolefins Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Polyolefins Market Include:
1. Executive Summary
2. Polyolefins Market Characteristics
3. Polyolefins Market Trends And Strategies
4. Polyolefins Market - Macro Economic Scenario
5. Polyolefins Market Size And Growth
……
26. Africa Polyolefins Market
27. Polyolefins Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Polyolefins Market
29. Polyolefins Market Future Outlook and Potential Analysis
30. Appendix
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