Major Key Players:
W.R. Grace, Total S.A., LyondellBasell Industries Holdings B.V, DoDuPont, PetroChina Company Limited, PolyOne Corporation, Arkema SA and SABIC, among others are some of the prominent players at the forefront of competition in the Global Polyolefin Market and are profiled in MRFR Analysis.
Polyolefin Market – Overview:
Globally, Polyolefin Market is estimated to reach USD 324 billion in 2022, expanding at CAGR of 6.49% during the forecast period from 2017 to 2022. This is attributed to the wide range of applications wherein Polyolefin is major used, substantial growth of packaging industry, and increasing demand from the building & construction industry. The packaging and automotive markets are witnessing considerable growth and are estimated to register a triple digit billion-dollar mark by the end of 2022. This is anticipated to boost demand for the polyolefin in these major end use industries. Additionally, the Polyolefin Market is substantially driven by increasing demand from FMCG and consumer goods. Geographically, Asia-Pacific holds the healthy market share in terms of value and volume, which direct implies, the demand coming from China, India, Japan, Taiwan, Malaysia and other countries positively affecting the growing of polyolefin market.
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Polyolefin Market- Competitive Landscape
Global Polyolefin Market is a rapidly growing market, which consists of significant number of mature players. The market is primarily driven by the technological advancements on part of leading players, along with the rising demand for polyolefin in major end users such as automotive and building & construction. The market consists of considerable number of tier 1 and 2 companies. Among them, W.R. Grace, Total S.A, Arkema SA, SABIC, and PolyOne Corporation are leading overall production of the polyolefin. They have substantial contribution to the growth of the market during the review period. Almost all of these market participants are primarily adopting the expansion of their production capacities tactics to strengthen their market position and meet rising demand for the product. Growing construction industries, and continuous collaborations and agreements between manufacturers, distributers, and marketing firms, along with continuous R&D activities are the key market forces favoring the growth of the demand for Polyolefin. Considering all these trends the Global Polyolefin Market poised to witness considerable competition throughout the forecast period of 2017-2022.
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