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Numerous variables interact to shape the dynamics of the Polyolefin Elastomers (POE) market. It is imperative for industry players seeking to navigate and leverage chances in the Polyolefin Elastomers sector to comprehend these market variables. Here is a brief synopsis presented in the style of a paragraph with a pointer structure:
Availability of Raw Materials: The price and availability of raw materials have a big impact on the market for polyolefin elastomers. Since POE is a derivative of polyethylene, its entire cost structure is impacted by changes in the production and pricing patterns of ethylene and other important feedstocks.
Industries of End Users: POE is widely used in a variety of end-user sectors, including packaging, footwear, and automobiles. shifts in these industries' demand brought about by the state of the economy and customer preferences, and industry-specific trends, directly impact the overall consumption of Polyolefin Elastomers.
Technological developments: Continuous developments in formulation and polymer processing techniques have a major influence on the POE industry. The market for polyolefin elastomers is expanding as a result of new applications being developed, product performance enhancements, and production process innovations.
Environmental regulations: Tight environmental regulations and a rising awareness of sustainability are driving the demand for environmentally friendly products. Due to their flexibility and reusability, polyolefin elastomers stand to benefit from increased focus on environmentally friendly alternatives in a number of industries.
Global Economic Conditions: The overall status of the world economy has a major impact on the demand for polyolefin elastomers. Economic fluctuations, including recessions and booms, can affect consumer spending and industry production in the long run.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2023 | USDÂ 1.36 Billion |
| Growth Rate | 7.70% (2024-2032) |
Polyolefin Elastomers Market Highlights:
Polyolefin Elastomers Market Overview
Polyolefin Elastomers Market Size was valued at USD 1.36 billion in 2023. The polyolefin elastomers industry is projected to grow from USD 1.46 billion in 2024 to USD 2.64 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.70% during the forecast period (2024–2032). Polyolefins are a class of polymers produced from olefins. Ethylene and propylene are the most widely used monomers to produce key polymers such as polyethylene and polypropylene. Polyolefin elastomers (POE) are a relatively new class of polymers with recent developments in metallocene polymerization catalysts. Metallocenes are very effective metal catalysts that consist of tiny particles of positively charged metal ions sandwiched between two cyclopentadienyl anions with formula (C5H5)2M, where ‘M’ indicates the metal ion.
POE has excellent properties ranging from amorphous to crystalline, low to very high molecular weight, superior elasticity, excellent thermal stability, UV resistance, toughness, and low-temperature ductility. Growing applications in adhesives, footwear foams, molded rubber goods, pipes, packaging, wires and cables are expected to drive the growth of the Polyolefin Elastomers Market. The launch of technologically advanced products such as Exxpol and Dow’s INSITE CGC are expected to boost market growth and result in the entry of new players.
Increasing demand in the automotive industry is expected to propel the growth of the Polyolefin Elastomers Market during the forecast period. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), global motor vehicle production in 2015 was 89.7 million units and it increased to 96.8 million units in 2017.
However, fluctuations in the price of crude oil and expensive raw materials are expected to hinder market growth during the review period.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Regional Analysis
The Polyolefin Elastomers Market has been segmented into five key regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Asia-Pacific has the largest share of the Polyolefin Elastomers Market due to the rising demand for molded products in toys, packaging, and automobiles. According to the OICA, China accounted for the highest vehicle production in 2017 with 29 million units. Japan, India, South Korea, and Thailand are the other markets contributing to the growth of the regional Polyolefin Elastomers Market.
The North American market for polyolefin elastomers is expected to witness significant growth during the forecast period due to increased product demand in the US automotive industry. According to the International Trade Administration (ITA), the US ranked second in the world for vehicle production and sales in 2016. The demand for POE in North America is also influenced by its use in applications such as wires and cables in the electrical and electronics industry.
In Latin America, Argentina and Brazil are the leading markets due to high product demand in medical and packaging applications. In 2015, Mexico was seventh-largest vehicle producer in the world, accounting for around 3.4 million automobiles. The use of POE in bumpers, instrument panels, and trims in the automotive industry is also expected to drive the growth of the Latin American market.
Europe is projected to be a lucrative market for POE due to its increasing use in the packaging and footwear industries. The main contributors to the growth of the regional market are Germany, the UK, France, and Italy.
The Middle East & Africa is expected to account for a small share of the global polyolefin elastomers market during the forecast period due to market saturation in end-use applications. The prominent nations in this market are Saudi Arabia and South Africa, with increasing demand in the automotive and packaging industries.
Polyolefin Elastomers Market Share, by Application, 2017 (%)
Source: MRFR Analysis
Segmentation Analysis
The Polyolefin Elastomers Market has been segmented based on type, manufacturing method, application, end-use industry, and region.
On the basis of Type, the Polyolefin Elastomers Market has been classified as polyethylene, polypropylene, and ethylene propylene diene monomer.
Based on Manufacturing Method, the Polyolefin Elastomers Market has been segmented into injection molding, extrusion molding, blow molding, cast and blown film extrusion, and foam and calendaring.
By Application, the Polyolefin Elastomers Market has been segregated into adhesives, molded rubber goods, wires & cables, automotive interiors, films, medical equipment, and others.
On the basis of End-Use Industry, the Polyolefin Elastomers Market has been divided into automotive, consumer goods, packaging, electrical and electronics, and others.
The Polyolefin Elastomers Market has been studied with respect to five regions—Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.
Key Players
The key players in the Polyolefin Elastomers Market are DowDuPont (US), the Dow Chemical Company (US), Exxon Mobil Corporation (US), Mitsui Chemicals, Inc. (Japan), LG Chem (South Korea), Mitsubishi Chemical Holding Corporation (Japan), Polmann India Ltd (India), SABIC (Saudi Arabia), LyondellBasell Industries Holdings BV (Netherlands), RTP Company (US), and PolyOne Corporation (United States).
Recent DevelopmentDec 2021 Roscom Inc., an ISO 9001:2015–certified PVC compounding factory in Croydon, Pennsylvania, was acquired by Geon Performance Solutions yesterday. This is a significant step forward in their plan. Customers throughout the Northeastern United States and parts of Canada will benefit from the Croydon facility and tenured workforce. The firm also plans to take benefit of the Roscom team's excellent knowledge and look forward to expanding its product line for consumers. Geon, based in the Cleveland suburb of Westlake, OH, has built a portfolio of vinyl and polyolefin polymers and full-service production that caters to a variety of markets.
Aug 2021 Yamaha Rightwaters has recovered 10,000 pounds of waste polyolefin film that can be transformed back into virgin circular polymers via reverse logistics. It will act as a proof-of-concept for a countrywide program to reduce plastic trash in the country's waterways. The program uses sophisticated recycler Nexus Fuels' technology and the labor of Marietta, GA-based Tommy Nobis Enterprises, which provides vocational support and employment training for people with impairments.
Target Audience
- Polyolefin elastomer manufacturers
- Traders and distributors of polyolefin elastomers
- Production process industries
- Potential investors
- Raw material suppliers
- Nationalized laboratories
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