The report "Polyolefins Market by Type (Polethylene, Polypropylene, and Functional Polyolefins, Application (Film & Sheet, Injection Molding, Blow Molding, Fibers & Raffia), and Region - Global Forecasts to 2021", The market size of PO is estimated to grow from USD 206.81 Billion in 2015 to USD 297.09 Billion by 2021, at a CAGR of 7.82% between 2016 and 2021. The market is driven by the increasing demand for plastic products in end-use industries such as packaging, plastic molding, automobile, and other customer products.
Asia-Pacific: The Largest Market for PO
Currently, Asia-Pacific is the largest market for PO. China is the largest while India is the fastest-growing market for PO in the region.
The following factors drive the PO market in Asia-Pacific:
- Growing industrialization in China and India leading to rapid growth of the food & beverage, agriculture, construction, solar energy, and other industries
- Replacement of woods and metals by PO plastic products
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.
