The Global [FURL=https://www.industryarc.com/Report/16489/polyolefins-market.html]Polyolefins Market[/FURL] is forecast to reach around $270 billion by 2025, after growing at a CAGR of 6.5% during 2020-2025. The diverse applications of polyolefins in a gamut of industries including packaging, consumer goods, and others propels the growth of Polyolefins market size during the forecast period. Whereas, an increase in sales of electric and hybrid vehicles led to more demand for vehicle and automotive parts also contribute to the market growth. The use of polyolefins in fashion, sports, and toys is growing due to its ability to resist physical stresses, durability, provide flexibility in packaging, and allow easy molding of products. Key Takeaways
In North America region, the US polyethylene export volumes to China fell by 9% to 584,157 metric tons in 2018, bucking the overall trend because of the trade war.
In Brazil, the growing demand for lightweight materials in the automotive industry, in order to provide increased efficiency and design flexibility, is primarily responsible for the growth of the polyethylene industry.
Colombia is one of the largest automotive markets in South America, after Brazil and Argentina. Auto parts sales totaled USD 4.21 billion in 2018, a 9.5 percent annual increase over 2017. Thus, the growth of automotive sector further drives the market growth.
The volatile crude oil prices, unstable economy, and stringent environment norms are hampering the growth of Polyolefins market share during the forecast period.
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Global Polyolefins Market Segment Analysis - Geography
Among the regions, the APAC hold the largest share of more than 45% in the global Polyolefins market followed by North America and Europe during the forecast period. Growing uses of HDPE and LLDPE across packaging, medical, and automotive industry in the region is expected to drive the market, primarily in countries like China, India, and Japan. Increasing demand for advanced automotive interiors and need for superior vehicles is also contributed to the market growth in APAC region.
Polyolefins Market Drivers
Highly adaptable due to polyolefins advance properties
Rising demand for Polyolefins across various industry verticals
Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Polyolefins market report. In 2019, the market of Polyolefins top 10 companies accounting for xx% of the share. Major players in the Polyolefins industry outlook are The Dow Chemical Company, Exxon Mobil Corporation, LyondellBasell Industries N.V., SABIC, China Petrochemical Corporation (Sinopec Group), Mitsubishi Chemical Corporation, BASF SE, INEOS, Borealis AG, Chevron Phillips Chemical Co., Braskem S.A., and Formosa Plastics Corp., among others
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