The global polyolefin market is anticipated to grow at a substantial CAGR of 8.9% during the forecast period (2022-2028). The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, collaborations, funding, and new product launches, to stay competitive in the market.
- In August 2020, Repsol has collaborated with Acteco to develop a project to increase the capacity of a recycled materials production plant Acteco owns in Alicante, Spain. The recycled products from the Alicante plant will include in the polyolefins of the Repsol reciclex product line, which is specially designed for high-value applications. Repsol intends to recycle the equivalent of 20% of its polyolefin production by 2030 and committed to recycle high quality high-quality polyethylene (PE) and polypropylene (PP) from household and industrial plastic scrap.
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- In January 2022, Gunze Ltd. is pleased to announce that it will launch a new polyolefin-based heat-shrinkable film “GEOPLAS FRG”. The density of the product is less than 1, compared to other materials, the product reduces the usage of plastic resin and is expected to reduce greenhouse gas emissions. The product is suitable for beverages, groceries, home, and personal care products.
- In September 2020, Borealis has launched Bornewables, a circular polyolefin product. As an extension of the existing range of value-added Borealis polyolefins are used for various applications in all industries. The product is designed entirely from waste and residue streams, offers the same material performance as virgin polyolefins offers, and contributes to reducing the carbon footprint.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2021-2028
- Segment Covered- by product, and by application
- Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
- Competitive Landscape- Exxon Mobil Corp., Lyondell Basell, Saudi Basic Industries Corp. (SABIC), Sumitomo Chemical Co. Ltd., The Dow Chemical Co., INEOS AG, Lyondell Basell Industries Holdings B.V.,and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment/region dominates the market in the base year?
- Which segment/region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
o Recovery Timeline
o Deviation from the pre-COVID forecast
o Most affected region/segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Polyolefin Market– Segmentation
By Product
- Polyethylene (PE)
- Polypropylene (PP)
- Ethylene Propylene Diene Monomer (EPDM)
- Others (EVA)
By Application
- Packaging
- Consumer Goods
- Building and Construction
- Electronics
- Automotive
