Metallocene Polyolefin Market to Witness Impressive Growth by 2024
Metallocene polyethylene (mPE) accounted for the most dominant market share in 2015 and is forecasted to have the most rapid growth rate over the forecast period.On the basis of application, the global market for metallocene polyolefin is segregated into injection molding, film & sheet, and others.Others segment is further sub-segmented into pipes & panels, wire & cable, raffia, blow molding, fiber, extrusion coating, and rotomolding. Film & sheet application wasthe most dominant market segment among all application types. This is attributed to high demand from the non-food packaging industry.Film &sheet application is followed by injection molding. This segment is also forecasted to witness rapid growth rate. This is attributed to the technical advantage metallocene polyolefin has over conventional polyolefins.
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Major drivers of the global metallocene polyolefin market include high productivity of metallocene catalyzed polyolefins. This has increased its demand in various end-user industries, thus triggering market growth. Rising demand from food and non-food packaging industry is a major driver of the global market for metallocene polyolefin. In addition, increasing demand for metallocene polyolefins in various end-user applications is driving overall market growth. High cost of polyolefins as compared to other catalysts is a major restraint hindering market growth. Metallocene polyolefin is difficult to process in film-blowing equipment as compared to other substitutes which makes it difficult for end-user industries to use them. That is also hindering market growth globally. Growing applications of metallocene polyethylene (mPE) and metallocene polypropylene (mPP) is creating huge opportunities in the global market for metallocene polyolefin.
Geographically, the global metallocene polyolefinmarket is segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is the most dominant region for this market. This is attributed to increased demand from film & sheet application. Rise in demand for resins with high quality mechanical properties is another major reason driving market growth in this region. Asia Pacific is also forecasted to seethe most rapid growth rate over the forecast period owing to the high demand from end-user industries. North America is the second dominant region in the global market.
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Major players of the global metallocene polyolefin market include Daqing Petrochemical Co. Ltd. (China), Nova Chemicals Ltd. (Canada), Braskem S.A. (Brazil), UBE Industries Ltd. (Japan), Japan Polychem Corporation Ltd. (Japan), Sumitomo Chemical Corp. Ltd. (Japan), Daelim Industrial Corp. Ltd. (Korea), Gas Authority of India Ltd. (India), INEOS Group AG (Switzerland), Prime Polymer Co. Ltd. (Japan), LG Chem Ltd. (South Korea), Borealis AG (Austria), Sabic (Saudi Arabia), Chevron Phillips Chemical Company LLC (The U.S.), Lyondellbasell Industries Holdings B.V. (the U.S.), Total S.A. (France), The DOW Chemical Company(the U.S.) and ExxonMobil Corporation(the U.S.).
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