Report ID: SQSG15E2010 | Region: Global | Published Date: April, 2023 | Pages: 165 | Tables: 131 | Figures: 77
Polyolefin Elastomer Market size was valued at USD 1880.67 million in 2021 and is poised to grow from USD 2026.2 million in 2022 to USD 3684.3 million by 2030, growing at a CAGR of 7.76% in the forecast period (2023-2030).
Elastomers with a polyethylene backbone are known as polyolefin elastomers (POE). POEs are frequently used to impact modify PE and PP compounds or to increase the flexibility of PE and PP moulded goods since they have a low density and high flexibility. They can be utilised in compounding, extrusion, film, and injection moulding.
In the production of medical equipment such as catheters, tubes, masks, and bags, demand for polyolefin elastomers is rising. The need for polyolefin elastomers is projected to increase due to its properties, which include high sterilisation resistance, ease of mixing with other polymers, high torque transmission, strong impact resistance, and resistance to harsh chemicals. Because of their characteristics, polyolefin elastomers are perfect for uses like mobility aids, surgical tools, and prostheses. Although polyolefin elastomers can be strengthened and designed to endure repeated use and shocks, they are gentle enough to be used on the skin of patients.
US Polyolefin Elastomer Market is poised to grow at a sustainable CAGR for the next forecast year.
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The global polyolefin elastomer market segmentation is based on types, method of manufacturing, application, end user and region. Based on type the market is segmented into polyethylene, polypropylene, and ethylene propylene diene monomer. On the basis of manufacturing method, the market is segregated into Injection moulding, Extrusion moulding, blow moulding, cast and blown film extrusion, blow moulding, foam, calendering, others . Based on application the market is segmented into Adhesives, Moulded rubber, medical equipment, films, wires and cables, Automotive interior, others. On the basis of End Use, the market is segmented into Healthcare, Automotive, Consumer goods, Packaging, Electrical, Electronics, others. Based on Region the global polyolefin elastomer market is segmented into North America, Europe, Asia-Pacific and Rest of the world.
Polyolefin Elastomer Market Analysis by Application
The global polyolefin elastomer market is expanding as a result of the automotive industry's value growth and hence this segment holds the most lucrative part of the market. Due to the use of this type of elastomer in the creation of interior and exterior automobile components like bumper fascia, increased vehicle manufacturing is creating a demand for polyolefin elastomers. The market for polyolefin elastomers is expanding due to the increase in vehicle manufacturing.
Polyolefin Elastomer Market Analysis by End Use
In terms of revenue, the packaging application category holds the largest market share. Packaging for both food and non-food items frequently uses polyolefin elastomers (POE). Due to the high levels of commoner in POE, which results in soft, flexible, and very low density materials, POE is used to make seals, closures, wads for caps, liners and flexible bags, as well as pouches specifically for the packaging of food and beverages. Additionally, they are utilised for sealing cases, cartons, plastic bags, vacuum bags, and other items.
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The market for polyolefin elastomers in Asia Pacific has dominated the market and is expanding quickly and is anticipated to expand significantly over the course of the forecast period. The Asia Pacific polyolefin elastomers market is expanding as a result of rising consumer demand for moulded plastic goods including toys and other household items as well as an expanding packaging sector. The average number of automobiles produced was 17.8 million in a year, according to the U.S. International Trade Administration (ITA), with China being the leading producer between those years.
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Polyolefin Elastomer Market Driver
Polyolefin Elastomer Market Restraint
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The market for polyolefin elastomers is fairly competitive and has players spread across various parts of the world. The major players are undergoing strategic advances to have a competitive edge in the industry. For instance, the bio-based Affinity RE has been added by Dow Packaging and Specialty Plastics to its high-performance Affinity GA polyolefin elastomers (POE). Affinity RE's expansion has assisted Henkel's Technomelt brand in lessening the environmental impact of its most recent Supra Eco hot melt adhesives line.
Polyolefin Elastomer Market Top Players Company Profiles
Polyolefin Elastomer Market Recent Development
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, global polyolefin elastomer Market segmentation is based on Type, method of manufacturing, Application, End Use and Region. The Polyethylene sector with type segment has major market share and will increase at the greatest CAGR from 2022 to 2028. In terms of revenue, the packaging application category held the largest market share. The global polyolefin elastomer market is expanding as a result of the automotive industry's value growth. According to regional analysis, the Asia-Pacific region holds the most lucrative market segment and is estimated to dominate the market over the forecast period.
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Polyolefin Elastomer Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Polyolefin Elastomer Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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