Polyolefins Market Expands Rapidly: Key Players, Challenges, and Opportunities| MarketsandMarkets™

Posted by Jack Martin on May 18th, 2023

New product launches, expansions, collaborations, & investments, and acquisitions, agreements, & technology transfers were the key strategies adopted by the industry players to achieve growth in the Polyolefines Market between 2012 and 2016. Increasing industrial and technological advancements and the demand for efficient plastic products with excellent physical properties such as strength, flexibility, and heat resistance encouraged various end-use industries to focus on PO, thus leading to a rise in demand. Some of the key players, such as Sinopec Corp. (China), LyondellBasell Industries Holdings B.V. (Netherlands), ExxonMobil Corporation (U.S.), and The Dow Chemical Company (U.S.) have adopted these strategies to develop their businesses, globally. 

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The Dow Chemical Company is the leading player of the PE market. As a major chemical manufacturer, the company aims to strengthen its market position and become one of the most innovative companies in the world. As part of its growth strategy, the company entered into new product launches, expansions, and agreements to develop its PE market. The company focuses primarily in North America and Asia-Pacific to develop its PE market and generate revenues. In addition, it is expanding its foothold in Latin America and the Middle East & Africa. The company has many registered patents owing to its extensive R&D efforts. It has strengthened its distribution network by establishing strong relationships with suppliers and distributors.

Sinopec Corp. is China's second-largest crude oil producer and the largest PP producer worldwide. It is operating with a total capacity of 5.5 million tons per annum (tpa) of PP as of August 2016. It also has a capacity of 5.7 million tpa for PE products. As a part of its business strategy, Sinopec Corp. focuses on expanding its production capacities to meet the future demand for PO. The company focuses on high-quality products by employing the latest state–of–the–art technology and continuously improving the efficiency of its operations.

Apart from the abovementioned market players, LyondellBasell Industries Holdings B.V. (Netherlands), ExxonMobil Corporation (U.S.), SABIC (Saudi Arabia), Braskem (Brazil), and CNPC (China) are the important players in the PO market.