Market Research Future published a cooked research report on Global Polyolefins Market that contains facts about the market’s past trend and growth since 2016 along with its predicted future information till 2023.
The Global Polyolefins Market Has Been Growing At The Cagr Of ~6.49 % From 2017 And Is Expected To Continue The Same Till 2023.
Polyolefins Key Market Manufacturers
W.R. Grace, LyondellBasell Industries Holdings, B.V, E. I. du Pont de Nemours and Company, PetroChina Company Limited, PolyOne Corporation, Arkema SA and SABIC
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Although polyolefins have a large number of advantages, the most important is their versatility. The increasing need for high standard performance plastic across all modern applications is driving the growth of polyolefins market. This has also resulted in the development of newer and improved application and performance properties; polyolefins that are fast, easy, and low cost are in demand. Such newly developed polyolefins include fast curing polyethylene and polypropylene and others.
The global polyolefins market has been segmented into type, application and end user. Among types, the market has been divided into polyethylene, polypropylene and others. Polyethylene has accounted the largest market in terms of value and volume. This market was valued at USD 96.6 billion in 2016 which is projected to reach USD 148.6 billion by 2023 with a CAGR of 6.45%. The major reason behind this exponential growth is that PE is undoubtedly one of the most popular plastic across the globe which is majorly used in the plastic industries to manufacture plastic bottles, plastic toys, and grocery bags and also in bullet proof jackets. Along with this, PE also holds a significant role in other application industries such as packaging, electronics, automotive and many others. In the global polyolefin market, polyethylene holds a largest market share of 46% in 2016.
Polyolefins Regional Analysis
The global lubricating oil additives market has been studied with respect to five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia-Pacific accounted for the largest share of the global lubricating oil additives market in 2017. This can be attributed to the increased demand for the product in the automotive sector, especially in emerging economies such as China, India, Japan, Indonesia, and South Korea. Moreover, the growth of the industrial sector and the need for increasing the efficiency of machines are likely to fuel the growth of the lubricating oil additives market during the forecast period.
North America and Europe are the other substantial markets for lubricating oil additives. North America being the second-largest region in automotive production, the demand for lubricating oil additives is expected to increase in the coming years. The rising need to reduce gas emissions and enhance fuel economy, coupled with advancements in the automotive sector, is projected to boost the demand for the product in Europe. The major countries in this region contributing to market growth are Germany, the UK, France, and Italy. Lastly, the markets in the Middle East & Africa and Latin America are estimated to witness significant growth during the forecast period owing to technological advancements and the increasing demand for automobiles in these regions.
Full report on Polyolefins Market report spread across 151 pages, profiling 15 companies and supported with tables and figures available @ https://www.marketresearchfuture.com/reports/polyolefins-market-2949
Polyolefins Market Segmentation
- Polyethylene (PP) – HDPE, LDPE, LLDPE
- Polypropylene (PP)
- Film & Sheets
- Blow Molding
- Injection Molding
By End User
- Electronics & Electricals