The most recent study conducted by Report Ocean, titled “Global Polyolefins Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Polyolefins . The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Polyolefins Market is valued at approximately $ in 2021 and is anticipated to grow with a healthy growth rate of more than $ over the forecast period 2022-2028. Polyolefins are a thermoplastic family that includes polyethylene and polypropylene. They are made by polymerizing ethylene and propylene, which are primarily derived from oil and natural gas but can also be derived from renewable resources.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
The market has been primarily driven by advances in plastic technology, the introduction of affordable automotive interior decor, and stringent industrial norms governing carbon dioxide emissions. The product’s strong tensile strength and impact resistance have helped to increase demand for it in the packaging, film, and sheet industries. Without noticeably losing strength or quality, polyethylene can be heated to its melting point, chilled, and then heated again as needed. This enables it to be widely utilised in many products, including bags, geomembranes, and plastic films.
Construction, transportation, automotive, packaging, textiles, and film & sheet are some of the end-use industries that are growing at a faster rate than the adhesives market. The market share of polyolefins has expanded as a result of the emerging economies’ rapid expansion, rising demand for beverages, and the rise in lightweight, fuel-efficient vehicles. The market is anticipated to grow over the forecast period due to the rise in demand for packaging in the E-Commerce industry.
However, the current uncertainty surrounding the availability of raw materials places a significant financial burden on global corporations. Many businesses are working to lower polyolefin prices for end-user industries on a worldwide scale.
The key regions considered for the global Polyolefinsmarketstudy include Asia Pacific, North America, Europe, Latin America, and Rest of the World.The Polyolefin market was dominated by Asia Pacific. Due to growing uses in the construction industry, polypropylene has experienced a tremendous expansion in China and throughout APAC. They are used in a wide range of ways in the automobile sector as well. The Asia Pacific polypropylene market is being driven by factors like chemical resistance, elasticity & toughness, fatigue resistance, insulation, and transmissivity. Whereas, North America is expected to hold a considerable share. The expansion of the region’s process industry has been greatly accelerated, which has, in turn, raised the demand for high-quality PO products with exceptional qualities.
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Major market playersincluded in this report are:
Sinopec Corporation
Lyondellbasell Industries Holdings N.V.
ExxonMobilChemical
PetroChina Company Limited
Saudi Arabia Basic Industries Corporation
The DOW Chemical Company
Braskem S.A.
Total S.A.
Arkema S.A.
Borealis AG
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
ByProduct:
Polyethylene
Polypropylene
Ethylene Vinyl Acetate
Thermoplastic Olefins
Others
By Application:
Film & Sheet
Injection Molding
Blow Molding
Profile Extrusion
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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