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(Transportation-News.com, September 28, 2016 ) The market size of polyolefins (PO) is estimated to reach USD 297.09 Billion by 2021, at a CAGR of 7.82% during the forecast period. The market is driven by increasing demand from the plastic, packaging, building & construction, and transportation end-use industries. The need for PO is backed by increasing demand for plastic products in film & sheet, injection molding, extrusion coating, blow molding, and other applications.
Browse 295 market data Tables and 83 Figures spread through 269 Pages and in-depth TOC on "Polyolefins Market by Type (Polethylene, Polypropylene, and Functional Polyolefins, Application (Film & Sheet, Injection Molding, Blow Molding, Fibers & Raffia), and Region - Global Forecasts to 2021"
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Film & Sheet: The Largest Application of PO Market
In 2015, film & sheet application accounted for the largest market share, in terms of volume, followed by injection molding and others. PO films are the most widely used polymers, which have high demand owing to low cost and technical advantages over other polymers. PE film is the substrate used for grocery bags and food packaging. It is thermoformed to manufacture plastic bottles and medical packaging products. PP films are used in end-use applications such as clear films, matte films, hazy films, colored films, metalized films, holographic films, adhesive backed films, and coated films. The important applications of EVA films include modified atmosphere packaging, vacuum bags, shrink films, thermal laminations, and others.
POP and POE: The Fastest-growing Type Segment of PO Market
POP and POE copolymers are estimated to register the highest CAGR between 2016 and 2021, in terms of volume. The high growth is attributed to characteristics such as excellent impact resistance, easy colorability, and excellent melt strength, which drive their use in end use applications such as automotive, wire & cable coating, and injection molding.
Film & sheet is the largest end-use application of PO. Increasing use of films in automobile, construction, food & non-food packaging, and solar energy is one of the major drivers the PO market. PO materials such as PE, PP, and EVA are expected to show high demand in the film & sheet application. PE is the most widely used polymer in the plastic industry due to easy availability and cheaper processing techniques in comparison to other polymers. The primary driver for PO resin consumption is the increasing demand from developing countries. Growing preference of manufacturers for bio-based polyolefins products is also driving the market. The plastic industry has wide scope of expansion, which in turn is expected to increase the consumption of PO materials during the forecast period.
PO materials are segmented into PE, PP, and FPO, including EVA, EPDM, TPO, POE, and POP, based on type. In 2015, PE accounted for the largest market share, in terms of value and volume, and is projected to register the second-fastest growth in the PO market, between 2016 and 2021, owing to its superior properties and cost advantages over other PO products.
Asia-Pacific, North America, Europe, the Middle East & Africa, and South America are considered as the main regions for the PO market. Asia-Pacific dominates the market owing to increased population and rising demand for plastic products. The rising demand for high-quality PO products with superior physical properties has significantly increased the growth of the region’s process industry, which consequently has triggered the demand for PO. Film & sheet and injection molding are the top two end-use applications contributing to the growing demand for PO in Asia-Pacific.
High capacity-to-demand ratio is considered as a major restrain for the overall market. There has been a surge in plant capacities in the PO market, whereas the demand has been increasing at a moderate rate, resulting in higher capacity-to-demand ratio. Concerns over plastic disposal and stringent government regulations for increasing the use of paper products are also growing concerns of the PO market.
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