Elastomeric Polyolefins Market: Overview
Unlike other polymers, polyolefins are produced from olefins of a specific class. Elastomeric polyolefins are manufactured using a monomer, which, on forming multiple chains, becomes a polymer. For instance, propylene and ethylene are the most widely used monomers in order to form key polymers, such as polypropylene and polyethylene. With recent developments in metallocene polymerization catalysts, elastomeric polyolefins are relatively new class of polymers.
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Elastomeric Polyolefins Market: Dynamics
The global market for elastomeric polyolefins market have several factors which are catering assertive push to the market towards substantial growth. Firstly, market is driven by rising demand for elastomers for applications such as adhesives, footwear foams, molded rubber goods, packaging, pipes, wires and cables. Furthermore, automotive industry is also backing up the global elastomeric polyolefins market throughout. The demand for molded interiors and exterior products in automotive is further enlarging market growth. Secondly, rising practice of products through electrical & electronic industry coupled with booming packaging & footwear industries is also expected to boost the market demand over the forecast period. On the other hand, fluctuating prices of crude oil and expensive raw materials are expected to limit market growth of elastomeric polyolefins.
Elastomeric Polyolefins Market: Segmentation
Global elastomeric polyolefins market can be segmented by type, by manufacturing process, by application, by end-use industry and by regions. On the basis of type, the global elastomeric polyolefins market is segmented as polyethylene, polypropylene and ethylene propylene diene monomer. On the basis of manufacturing process, the global elastomeric polyolefins market is segmented by injection molding, extrusion, blow molding, cast & blow film extrusion and others. On the basis of application, the global elastomeric polyolefins market is segmented by adhesives, wires & cables, automotive interior, films, medical equipments and others. On the basis of end-use industry, the global elastomeric polyolefins market is segmented by automotive, consumer goods, packaging, electrical & electronics and others.
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Elastomeric Polyolefins Market: Regional Overview
Asia-Pacific, which includes East Asia and South Asia, has the largest share of the global elastomeric polyolefins market due to the rising demand for packaging, molded products in toys, and automobiles. According to the OICA, China accounted for the highest vehicle production in 2017 with 29 million units. Japan, India, South Korea and Thailand are the other markets contributing to the growth of the regional elastomeric polyolefins market. The North American market for elastomeric polyolefins is expected to witness significant growth during the forecast period due to increased product demand in the U.S. automotive industry.
According to the International Trade Administration (ITA), the U.S. ranked second in the world for vehicle production and sales in 2016. The demand for POE in North America is also influenced by its use in applications such as wires and cables in the electrical and electronics industry. In Latin America, Argentina and Brazil are the leading markets due to high product demand in medical and packaging applications. In 2015, Mexico was the seventh-largest vehicle producer in the world, accounting for around 3.4 million automobiles.
The use of POE in bumpers, instrument panels, and trims in the automotive industry is also expected to drive the growth of the Latin American market. Europe is projected to be a lucrative market for POE due to its increasing use in the packaging and footwear industries. The main contributors to the growth of the regional market are Germany, the UK, France and Italy. The Middle East & Africa are expected to account for a small share of the global elastomeric polyolefins market during the forecast period due to market saturation in end-use applications. The prominent nations in this market are Saudi Arabia and South Africa, with increasing demand in the automotive and packaging industries.
Elastomeric Polyolefins Market: Key Players
Prominent players in the global elastomeric polyolefins market are DowDuPont (US), the Dow Chemical Company (US), Exxon Mobil Corporation (US), Mitsui Chemicals, Inc. (Japan), LG Chem (South Korea), Mitsubishi Chemical Holding Corporation (Japan), Polmann India Ltd (India), SABIC (Saudi Arabia), LyondellBasell Industries Holdings BV (Netherlands), RTP Company (US) and PolyOne Corporation (United States). The global players are expected to strengthen their market positions by offering loyalty schemes and competitive prices. Several small-sized players also have a presence in the elastomeric polyolefins market globally.
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