Polyolefin Market Size to Worth Around US$ 400 Billion by 2030

1. Polyolefin Market Size to Worth Around US$ 400 Billion by 2030

2. Polyolefin Market, 2021 The global polyolefin market size was valued at US$ 240 billion in 2020. Polyolefin is a synthetic polymer that is derived from the olefins. Polyolefin is the extensively used for commercial and industrial applications across the globe. Rising demand from the construction and buildings and solar power industries is augmenting the demand for polyolefin. Rapid urbanization, rapid industrialization, development of eco-friendly and bio-based plastics, and development and growth of the solar power industry are among the top driving factors responsible for the growth of the polyolefin market in the upcoming years. Polyethylene and polypropylene are two most common and widely used polyolefin across the industries owing to their flexibility and strength. Get the Sample Pages of Report for More Understanding@https://www.precedenceresearch.com/sample/1290 Crucial factors accountable for market growth are: Growing demand from automotive industry for making lightweight vehicles Increasing demand for films and sheets from the agriculture sector Growth and development of solar industry Growing demand from Asian countries like China and India Rising penetration of foodservice industry will augment the demand for packaging material Bio-based and bio-degradable plastic is gaining traction E-commerce to boost the demand for packaging materials made of polyolefin Regional Snapshots Asia Pacific dominated the global polyolefin market in 2020 and projected to augment the market in the coming years. The prime factor attributed for its growth is rapid industrialization, heavy investments in infrastructure, rapid urbanization, growth of e-commerce, and growth of the automotive industry in the region. Many people in Asia Pacific are still dependent on agriculture, 2 PRECEDENCE RESEARCH

3. Polyolefin Market, 2021 therefore there is a huge potential for the growth of the films and sheets segment in the Asia Pacific region. The North America and Europe polyolefin market is augmented by the packaging, automotive, construction, and transportation industries. Moreover technological advancements in developing sustainable plastic solutions offer lucrative growth opportunities to the key market players in the region. Furthermore, the growing adoption of electric vehicle is augmenting the demand for polyolefin for its durability and lightweight properties. This will significantly boost the demand for the polyolefin in the forthcoming years. Get Customization on this Research Report@https://www.precedenceresearch.com/customization/1290 Click here to View Full Report Table of Content Report Highlights Polyethylene segment led the global polyolefin market with 35% revenue share in 2020. Increased demand from various industries such as industrial, automotive, construction, transportation, and packaging is expected to augment polyolefin demand. The polypropylene segment is expected to hit remarkable CAGR during the forecast period 2021 to 2030. By application, film & sheet segment held the major revenue share 45% in the global polyolefin market in 2020 owing to the higher demand from the agriculture and industrial sector. Recent Developments In March 2020, LyondellBasell and Liaoning Bora entered into a joint- venture in China to work for developing ethylene cracker and polyolefin derivative complex with 1.1 million ton capacity per year. In July 2019, Repsol introduced its new range of polyolefin, called Repsol 50RX2805. 3 PRECEDENCE RESEARCH

4. Polyolefin Market, 2021 Market Dynamics Drivers The growth of the polyolefin market is highly influenced by the sales revenue of the films and sheets application. The film and sheet is one of the major driving force of the market. The increased demand for the films and sheets segment from the majority of the industries such as packaging, agriculture, cosmetics, construction, and automotive industries is driving the growth of the global polyolefin market. Polypropylene, polyethylene, and ethylene vinyl acetate are easily available and the most demanded film and sheets material owing to their strength and cheap prices. Moreover, increasing demand from the developing nations is further expected to fuel the market growth. Browse more Chemical and Material Latest Publication@ https://www.precedenceresearch.com/industry/chemical- and-material Restraints One of the major restraints of the polyolefin is growing environmental concerns due to huge amount of plastic wastes. The government initiatives to reduce the use of plastic are a key restraining factor. Further, the huge demand and shortage in supply due to factors like trade war between US and China may result in a price hike which may hamper the market growth. Opportunities The growing technological innovations and product developments by key players may provide growth opportunities. For instance, the development of bio-degradable and bio-based plastics is expected to be the most opportunistic development in the global polyolefin market in the foreseeable future. Challenges The rising initiatives for increasing awareness regarding ban of plastics is a huge challenge. The need for developing sustainable solutions is at its peak in 4 PRECEDENCE RESEARCH

5. Polyolefin Market, 2021 the current market scenario. The growing usage of non-plastic materials by the consumers may constraint the market growth in future. Market Segmentation By Type Polyethylene Polypropylene Polyolefin Elastomer Ethylene Vinyl Acetate By Application Film & Sheet Injection Molding Blow Molding Profile Extrusion By Geography North America oU.S. oCanada Europe oU.K. oGermany oFrance Asia Pacific oChina oIndia 5 PRECEDENCE RESEARCH

6. Polyolefin Market, 2021 oJapan oSouth Korea Rest of the World Buy this Premium Research Report@https://www.precedenceresearch.com/checkout/1290 You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 9197 992 333 About Us Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally. For Latest Update Follow Us: https://www.linkedin.com/company/precedence-research/ https://www.facebook.com/precedenceresearch/ https://twitter.com/Precedence_R 6 PRECEDENCE RESEARCH

7. Polyolefin Market, 2021 7 PRECEDENCE RESEARCH