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NEW YORK , Aug. 17, 2023 /PRNewswire/ -- The polyolefin market is expected to grow by USD 117.45 billion during the five-year forecast period, according to Technavio. As per the latest report, the market will progress at a CAGR of 6.86% from 2022 to 2027. The increasing popularity of bio-based coating polyolefin is a primary trend in the market. There is a rise in demand for organic materials fuelled by the increase in petrochemical raw material prices, including olefins, phthalates, and aromatic vinyl compounds. Additionally, there is an increasing focus on carbon footprint reduction which is significantly fuelling the development of more environmentally friendly alternatives to conventional hydrocarbon-based resins. Hence, such factors are expected to drive market growth during the forecast period. View the new Sample Report within minutes! Cold Frame With Plastic Sheeting
The growing use of polyolefin films in the solar power generation industry drives market growth. There is significant growth in the solar power industry, with double-digit growth in installations and higher revenues. It is expected that photovoltaic (PV) systems will reach around 175 gigawatts globally. The main factors which are significantly contributing to the growth of the solar installation industry are Japan's stimulus package and consistent growth in the under-penetrated US market. The main advantage of polyolefin encapsulating film is that it has high moisture resistance and electrical insulation, which can protect solar cells and extend the service life of the modules over non-insulated solar cells and modules. Hence, such factors are driving the market growth.
Fluctuations in crude oil prices are a major challenge hindering the polyolefin market growth during the forecast period. Prices for raw materials such as polymers and resins are volatile in nature and have fluctuated since 2015. Additionally, as polyolefins are derivatives of petroleum and natural gas, they fluctuate with the fluctuation of the price of natural gas and crude oil, resulting in fluctuation of the price of these materials. Furthermore, several of these raw materials utilized in the manufacturing of f packaging films are essentially petroleum derivatives, which makes their price unpredictable. Hence, such factors are expected to hinder market growth during the forecast period.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Arkema Group, BASF SE, Berkshire Hathaway Inc., Carlisle Companies Inc., China Petrochemical Corp., Dow Inc., Exxon Mobil Corp., Filtration Group Corp., Holcim Ltd., Koster Bauchemie AG, Lanxess AG, LyondellBasell Industries NV, RPM International Inc., Saudi Arabian Oil Co., Sika AG, SOPREMA SAS, Standard Industries Inc., Wacker Chemie AG, Zylog ElastoComp, and Suzhou GWELL machinery co. LTD. are some of the major market participants.
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. Our polyolefin market report covers the following areas:
The market share growth by the PE segment is significant during the forecast period. The main classification of the PE segment is based on the relative degree of branching in their molecular structures which is mainly controlled by the targeted use of catalysts. Some of the main types of PE polymer segments include low-density PE (LDPE), high-density PE (HDPE), LLDPE, and crosslinked high-density PE (XLPE). There is increasing adoption of the PE segment across various industries such as automotive, construction, packaging, and healthcare due to their high toughness and excellent chemical resistance which is expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
Polyolefin Market 2023-2027: Key Highlights
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Accelerate at a CAGR of 6.86%
North America, APAC, Europe, South America, and Middle East and Africa
US, China, Japan, UK, and Germany
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Arkema Group, BASF SE, Berkshire Hathaway Inc., Carlisle Companies Inc., China Petrochemical Corp., Dow Inc., Exxon Mobil Corp., Filtration Group Corp., Holcim Ltd., Koster Bauchemie AG, Lanxess AG, LyondellBasell Industries NV, RPM International Inc., Saudi Arabian Oil Co., Sika AG, SOPREMA SAS, Standard Industries Inc., Wacker Chemie AG, Zylog ElastoComp, and Suzhou GWELL machinery co. LTD.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com
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