Polyolefin (CnH2n) is a type of a polymer produced by polymerization of olefin as a monomer. Polyolefin is also known as PTFE. Polyolefin is produced in two forms such as polyolefin elastomers and thermoplastic polyolefin. The polyolefin elastomers are associated with liquidlike properties, whereas the thermoplastic polyolefin has rigid properties and sometimes brittle properties.
The increasing adoption of polyolefin in the packaging industry is a major factor, anticipated to drive the growth of the global polyolefin market. In addition, the increasing demand of polyolefin from industries such as healthcare, electronics and electrical, automotive, textiles, and construction, is another factor expected to propel the growth of the target market over the forecast period. However, the high cost of product, owing to increasing raw material cost is a major factor, may hamper the demand of the polyolefin and restrain the growth of the global market over the long run.
The global market is segmented on the basis of product type, application, and region. On the basis of product type, the global market is segmented into polyethylene (PE), polypropylene (PP), ethylene vinyl acetate (EVA), ethylene propylene diene monomer (EPDM) and others. Other segment is further bifurcated in ethylene propylene, polymethylpentene, and polyisobutylene. The polyethylene segment is expected to witness a highest growth in the global market over the forecast period.
On the basis of application, the global market is segmented into film & sheet, injection molding, blow molding, profile extrusion, and others. The others segment is sub-segmented into automotive, construction, and textiles. The film & sheet segment is expected to witness a highest growth in terms of revenue in the global market over the forecast period.
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On the basis of region, the global polyolefin market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific market accounted for the highest share in terms of revenue in the global polyolefin market. The North America market is expected to witness a significant growth in the global market over the long run, due to the increasing presence of polyolefin manufacturers in North America, followed by Europe. The Middle East & Africa polyolefin market is expected to contribute a moderate share to the global market in next few years, owing to the rising demand from construction and packaging industries.
Some of the key players in the global market include Lyondell Basell Holdings B.V, China Petroleum & Chemical Corporation, The Dow Chemical Company, ExxonMobil Corporation, Chevron Phillips Chemical Company, Borealis AG, Total SA, Arkema S.A., Braskem S.A., and BASF SE.