Polyolefin resin market is witnessing substantial growth on a global scale, owing to its increasing scope of applications coupled with technological advancement.
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Polyolefin Resin Market - Global
Industry Analysis, Size, Share, Growth,
Trends and Forecast 2014 - 2020
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A new research report by Transparency Market Research offers a comprehensive evaluation of the global Polyolefin Resin market.
The study, titled “Polyolefin Resin Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”,
is available for sale on the firm’s website.
Polyolefin resins are polymers containing one or more olefinic groups. These are high molecular weight hydrocarbons which include
polyethylene, polypropylenes that comprise resins and copolymers. Polyolefin resins have the ability for withstanding exposures to
almost all chemicals at most room temperature. They are less expensive and adaptable to different fabrication techniques. Automobile,
film & sheet, fibers & tapes in the packaging, medical and construction are some of the key end user industries of polyolefin resins.
Polyolefin resins are also used for coating and packaging purposes.
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Among thermoplastics groups, polyolefins account for the largest product segment. Polyethylene and polypropylene are the most
commonly used polyolefins. Polyolefin resins were invented in the research laboratory of Imperial Chemical Industries in 1931;
however the large scale manufacturing did not start until 1950. Shift in the trend to use polyolefins over polyvinyl chloride (PVC)
boosted the demand for polyolefin resins. PVC, an important compound used in the automotive and construction industry, is
considered harmful for the environment and hazardous to life. Polyolefins have replaced PVC due to their rubber like properties and
hence are suitable for high performance industrial applications. The market for polyolefin resins is growing at a steady pace on
account of its low cost and its capability of being fabricated by using modern techonologies such as extrusion, blow molding,
calendaring and injecting molding. Non-polyolefin resins produced from elastomers can be used as a substitute for polyolefin resins,
however reasons such as higher production cost of the former prevents the entry of substitutes in the market.
Polyolefin resin market is witnessing substantial growth on a global scale, owing to its increasing scope of applications coupled with
technological advancement. Asia Pacific is the largest market for this compound accounting to the presence of key manufacturers in
these regions. Other regions such as Latin America and Middle East account for the next largest market for polyolefin resins.
Automobile industry, the largest end user of this product, is growing rapidly in developing economies such as China, India, Brazil and
South Africa which has further fuelled the demand for polyolefins in Asia Pacific and other regions mentioned. China is the largest
manufacturer of this compound in the world. However the production of polyolefin resins is increasing in Asian countries such as
India, Malaysia and Indonesia. Availability of raw materials at low cost is attracting numerous North American and European based
companies to set up polyolefin production site in Asia Pacific. Fluctuating prices of petroleum and oil is driving the Middle Eastern
economies to reduce their dependence on petroleum products.
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The production of polyolefins and other compounds such as automobile coating materials is increasing rapidly; Middle East is
expected to emerge as one of the largest exporters of polyolefin resins during the forecast period. North America is the third largest
market for polyolefin resins.. North America fulfills most of its polyolefin demand by importing from countries in Asia Pacific.
However the shale gas boom in North America has provided the opportunity of availability of cheaper raw materials. This is expected
to fuel up the production of polyolefin resins in countries such as U.S. and Canada. The market for polyolefin is considerably low in
Europe resulting from the sluggish economic growth. It is predicted that the presence of key market players such as The Dow
Chemical Company will fuel up the demand for this compound in Europe by 2020.
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