Olefin block copolymers Market: Introduction
Olefin block copolymers are alternative blocks of the hard and soft segment. The block structure of Olefin block copolymers offers outstanding performance balance of flexibility, high-temperature resistance, excellent elasticity, and good compression set performance at room temperature. Olefin block copolymers are of two types, polyethylene-based OBCs, and polypropylene-based OBCs.
The Dow Chemical Company offer Olefin block copolymers under the brand name INFUSE. Olefin block copolymers are manufactured at the company’s manufacturing sites in the US, Spain, Thailand and Saudi Arabia. All these manufacturing facilities are operate on Dow’s proprietary technology known as INTUNE. Olefin block copolymers find application in footwear foams, hot melt adhesives and pressure sensitive adhesives. The global demand for Olefin block copolymers market is expected to witness a healthy double digit CAGR over the forecast period.
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Olefin block copolymers Market: Market Dynamics
Olefin block copolymers offers numerous advantages over traditional polyolefin elastomer such as improved flexibility, high-temperature resistance, high crystallization temperature, and better elasticity. These benefits make Olefin block copolymers an outstanding alternative to a wide range of polymers including Ethylene Vinyl Acetate (EVA), Styrene Block Copolymers, Thermoplastic Vulcanisates, and others. Key driving factor for Olefin block copolymers is its application in the footwear industry, hot melt adhesive, and pressure-sensitive adhesive
. Footwear application contributes the majority of the consumption of Olefin block copolymers followed by adhesive application. Niche application of Olefin block copolymers such as 3D printing is further increasing the demand for Olefin block copolymers in the coming years — for instance, Evolv3D, 3D-printing polyethylene-based build material product offered by The Dow Chemical Company. Manufacturers are increasingly focused on the development of new technologies and commercialization of Olefin block copolymers products which will increase the overall production globally.
Olefin block copolymers Market: Segmentation
The global Olefin block copolymers market is segmented on the basis of type, application, and region.
Based on the type, the global Olefin block copolymers market is segmented as:
- Polypropylene based
- Polyethylene based
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Based on the application, the global Olefin block copolymers market is segmented as:
- Household Goods
- Health & Hygiene
- Wire & Cable
Based on region, the global Olefin block copolymers market is segmented as:
- North America
- Latin America
- East Asia
- South Asia & Oceania
Olefin block copolymers Market: Regional Outlook
Asia Pacific is expected to account for more than 60% of global Olefin block copolymers consumption owing to increase in demand for footwear and the shift of global footwear industry from a developed nation such as North America and Europe to the Asia-Pacific countries such as China, Japan, Vietnam, Pakistan, etc. Vietnam. Vietnam has established itself as an industry leader in footwear manufacturing.
The country is reaping benefits owing to its price competitiveness over China for which major footwear manufacturers including Nike and Adidas. Vietnam is the second largest exporter of shoes and is plays a pivotal role in the footwear manufacturing and trade. Key specialty chemicals and polymer manufacturing companies in Asia-Pacific such as Mitsui Chemicals and LG Chem. have announced the launch of the Olefin block copolymers in the mid-term forecast.
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North America is expected to witness a spurring growth in the forecast period owing to the strong presence of footwear and adhesive industry in the region. Europe is forecast to remain a mature market for Olefin block copolymers with more growth expected in the Eastern and Central part of the region. Italy and Germany are the two key markets for Olefinic block copolymers in the region. Other regions such as the Middle East & Africa and Latin America, the demand for Olefin block copolymers will witness substantial growth in the coming forecast period.
Olefin block copolymers Market: Prominent players
Prominent players in the global Olefin block copolymers market is The Dow Chemical Company. The Olefin block copolymers market has only one manufacturer has commercialized Olefin block copolymers in the market. LG Chem., Mitsui & Co., Ltd., Eastman Chemical and many other manufacturer of olefin elastomer are planning to commercialize their Olefin block copolymers products in the mid-term period.
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