Depth of Global Polyolefin Market Overview, Industry Top Manufactures, Market Size, Industry Growth Analysis & Forecast: 2024

Global polyolefin market is expected to reach 251,416.87 thousand tons by 2025 from 180,300.00 thousand tons in 2017, at a CAGR of 4.5% in the forecast period 2017 to 2024. The new market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.

Segmentation:
By Type (Polyethylene Polyproplylen), By end user (Packaging, Consumer Goods, Building & Construction, Automotive, Medical & Pharmaceuticals, Others), By Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa)

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Drivers:
The major factors contributing to the growth of the market includes factors such as Growing demand from Construction Sector Changing Raw Material Supply Scenario Significant Growth in Solar Power Industry

SHIFT IN END-USER PREFERENCE TOWARDS FLEXIBLE PACKAGING
The rising demand of flexible films in the packaging industry has resulted in growth in the polymer market. Key players are continuously investing in R&D and developing innovating flexible films for various end uses. Flexible packaging offers benefits such as easy handling and storage, cost efficient, convenience in transportation and usage. The benefits of flexible packaging has resulted in increased use of polypropylene (PP), polyethylene (PE), the commonly used polymers in flexible packaging are polypropylene (PP), polyethylene (PE), polyvinyl chloride (PVC), polyethylene terephthalate (PET), and biaxially oriented polypropylene (BOPP) (Anyadike). Key advantages of flexible packaging over rigid packaging are that they are light weight, small pack size and energy saving ease of storage and transportation and convenient disposal.

The key companies engaged in the production of flexible packaging are Amcor Ltd. (Australia), Sealed Air Corporation (U.S.), Bemis Company Inc. (U.S.), Mondi (South Africa), Huhtamäki Oyj (Finland), and Sonoco Products (U.S.) Flexible packaging. The flexible packaging has various industrial applications such as cartons, boxes, bags, bottles, contains, pallets, bottles, jars, jugs, pouches, films, bags etc.

The shifting preference of packaging industries towards flexible packaging has led to increased usage of polyolefin in packaging industry.

GROWING DEMAND FROM CONSTRUCTION SECTOR
Polymers have become increasingly important as construction materials. Some important industries such as fibres, rubbers, adhesives, sealants and caulking compounds are based on polymers. Polymers, together with metals and ceramics, represent the essential engineering materials in the construction of buildings, vehicles, engines and household articles of all kinds.
The building and construction industry is second only to packaging in its importance as a market for polymers in Europe Polymers, despite being the fourth major class of building material used after steel, wood and cement, still represent a relatively small proportion of the total volume of building materials used.

The construction industries usually use products that have long life and also which are strictly regulated. The levels of regulations vary from country to country. Hence switch to new materials from the traditional ones is difficult. The use of raw material such as plastic panes for doors and windows have long life and are easily available hence they are been largely used which increases the growth rate of polyolefin market.

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SIGNIFICANT GROWTH IN SOLAR POWER INDUSTRY
The development and uses of solar energy at large scale is not only reasonable method of energy resources utilization in the future but also effective frame to improving energy resource crises economically. There is different solar resource in different area, seasons, and weather conditions and so on because of so many influencing factors.

The solar photovoltaic cells which are used in solar power generation are made of polyolefin. The polyolefin helps to improve the reliability and performance of finished photovoltaic modules, possibly leading to a longer service life. Global solar photovoltaic capacity has grown from around five gigawatts in 2005 to approximately 306.5 gigawatts in 2016. In that year, cumulative solar PV installations reached some 41.3 gigawatts in Germany alone. By 2016, the residential solar PV market in the United States is projected to be worth around 4.7 billion U.S. dollars. The capacity of newly installed solar PV has continued to steadily grow over the last decades, with China being one of the largest markets for solar cells and modules.

Led by China and India, these developing economies are behind dramatic recent growth in solar capacity, which expanded by 33% in 2016. China alone installed 27 gigawatts (GW), around 40% of the world’s new solar last year. Brazil, Chile, Jordan, Mexico and Pakistan all at least doubled their solar capacity in 2016.

Mentioned below is the Mapping solar use and new installations in various regions.
• In 2016, China added around 27GW of total solar capacity, more than any other country and about 40% of all solar capacity installed globally that year. US was the second largest, at around 15GW. India was the fourth largest source of new solar capacity, installing more than 4GW in 2016. The UK installed around 2GW in 2016.
• Germany has the largest installed solar capacity per person, at nearly 500 watts per person. It is followed by Japan at 337 watts, Italy at 318 watts, Belgium at 302 watts, Greece at 243 watts and Australia at 228 watts. Other European countries round out the top 11, with the UK at number 9 with 179 watts. The US has the 12th largest installed solar capacity per person at 125 watts, while China is the 24th largest at 56 watts solar per person.
• In 2016, Japan had the most new solar installed per person, at 68 watts. The US was near the top at 46 watts, while the UK and Australia had 31 watts. China installed more solar per-person than Germany in 2016, which has capped the rate of renewable additions and moved to auctions for new capacity.
• As the global photovoltaic market installation continues to grow, material selection can be a critical component in the ongoing success of photovoltaic module manufacturers. Due to increase in installations in various regions of solar power plants polyolefin market is also growing.

Major Players:
Some of the major players operating in this market are exxon mobil corporation, sabic, dowdupont , lyondellbasell industries holdings b.v., china national petroleum corporation, chevron phillips chemical company, arkema s.a., total, ineos, reliance industries limited, lg chem. Polyone, tosoh corporation, formosa plastics corporation, borealis ag, akzo nobel n.v. L, sasol ltd., petrochina company limited, among others.

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