Polyolefins Global Market Estimated to Reach $447.42 Billion at a CAGR of 10.7% By 2028, Size, Share, Trends, Demand, Growth and Competitive Analysis

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Polyolefins Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $447.42 billion In 2028 At A CAGR Of 10.7% :

The polyolefins market size has grown rapidly in recent years. It will grow from $267.44 billion in 2023 to $298.46 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. The growth in the historic period can be attributed to industrialization and urbanization, consumer preference, emerging markets, increasing consumption of polyolefins.

The polyolefins market size is expected to see rapid growth in the next few years. It will grow to $447.42 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to biodegradable polyolefins, advanced packaging solutions, lightweighting, electric vehicle (ev) applications, smart packaging. Major trends in the forecast period include biodegradable polyolefins, advanced packaging solutions, lightweighting, electric vehicle (ev) applications, technological advancements.

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Polyolefins Market Major Segments
The polyolefins market covered in this report is segmented -
1) By Type: Polyethylene (PP) - HDPE, LDPE, LLDPE, Polypropylene, Other Types
2) By Application: Films and Sheets, Blow Molding, Injection Molding, Profile Extrusion, Other Applications
3) By End-User: Packaging, Automotive, Construction, Pharmaceuticals/Medical, Electronics & Electricals

Key Driver - Rising Demand For Packaged Food Fuels Growth In The Polyolefins Market

An increase in demand for packaged food is expected to propel the growth of the polyolefins market going forward. 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 export of products under the ready-to-eat (RTE), ready-to-cook (RTC) and ready-to-serve (RTS) categories rose by more than 23% to $ 1011 million from April to October (2021-22) compared to $ 823 million reported in April to October (2020-21). Therefore, an increase in demand for packaged food is driving the growth of the polyolefins market.

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Prominent Trend - Innovative Sustainable Solutions Borealis Introduces Stelora To The Polyolefins Market

Major companies operating in the polyolefins market are developing innovative products, such as Stelora, to meet the growing demand for sustainable engineering polymers. Stelora to its existing portfolio of polyolefins. It is a new class of engineering polymer that is made with renewable feedstock. It is designed to offer a more sustainable alternative to traditional engineering polymers such as ABS and polycarbonate. For instance, in May 2023, Borealis AG, an Austrian-based chemicals company, launched Stelora to its existing portfolio of polyolefins. It is made with renewable feedstock, and it offers a number of advantages over traditional engineering polymers. It has sustainability, performance, processability, and versatility. Moreover, it has high heat resistance and low moisture absorption.

Polyolefins Market Players
Major companies operating in the polyolefins market include ExxonMobil Corporation, Saudi Basic Industries Corporation., China Petroleum & Chemical Corporation., Total SE, Arkema S.A., LyondellBasell Industries N.V., Braskem S.A., BASF SE, Bayer AG, Reliance Industries Limited, Borealis AG, INEOS Group AG, Repsol S.A., PetroChina Company Ltd., Ducor Petrochemicals B.V., Formosa Plastics Corporation, Chevron Phillips Chemical Company LLC., Hanwha TotalEnergies Petrochemical Co. Ltd., PolyOne Corporation, Sasol Limited, Tosoh Corporation, The Dow Chemical Company, LG Chem Ltd., Sumitomo Chemical Co Ltd., Mitsui Chemicals Inc., Westlake Chemical Corporation, Lotte Chemical Corporation, Versalis S.p.A., PTT Global Chemical Public Company Limited, China National Chemical Corporation

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the polyolefins market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the polyolefins market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Polyolefins Market Report Structure
3. Polyolefins Market Trends And Strategies
4. Polyolefins Market - Macro Economic Scenario
5. Polyolefins Market Size And Growth
…..
27. Polyolefins Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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