Polyolefins are a family of polymers made from carbon, hydrogen, and other elements, such as oxygen and sulphur. They are used widely in the plastics, packaging, and automotive industries. Polyolefins are thermoplastics, which means they can be melted and reformed multiple times. The most common types of polyolefins are polyethylene and polypropylene. Polyolefins are used to manufacture a variety of products due to their lightweight, low cost, and durability. These products include packaging materials, food containers, automotive parts, and carpeting. Polyolefins are also used to manufacture a variety of medical products such as disposable syringes and intravenous lines. The demand for polyolefins is increasing as they are becoming more widely used in the production of consumer goods.
The global Polyolefins market is estimated to grow USD 297.09 Billion by 2021, at a CAGR of 7.82%. The market is driven by the increasing demand for plastic products in end-use industries such as packaging, plastic molding, automobile, and other custom products.
The Asia-Pacific region is the largest market for polyolefins, with China being the largest producer and consumer of the materials. This is largely due to the rapid growth of the Chinese economy, which has resulted in a large demand for polyolefins from various industries. Other countries in the region such as India, Japan, and South Korea are also significant consumers of polyolefins.
The growth in demand for polyolefins in the Asia-Pacific is primarily driven by the increasing demand for consumer goods, rising automobile production, and the growing construction sector. Furthermore, the region’s favorable regulatory environment and the presence of leading global players have further boosted the demand for polyolefins in the region.
Sinopec Corporation (China), LyondellBasell Industries Holdings B.V., ExxonMobil Corporation (U.S.), China National Petroleum Corporation (China), SABIC (Saudi Arabia), The Dow Chemical Company (U.S.), Braskem S.A. (Brazil), Total S.A. (France), Ineos Group AG (Switzerland), and Arkema S.A. (France) are the key players of the PO market.
