Polyolefin Market Size Is Poised To Reach 7.3 Billion By 2030: Grand View Research Inc.Posted by Mrudula Anil Karmarkar on May 14th, 2024 San Francisco, 14 May 2024: The ReportPolyolefin Market Size, Share & Trends Analysis Report By Product (Polyethylene, Polypropylene, Polycarbonate), By Application (Film & Sheet, Injection Molding, Blow Molding), By Region, And Segment Forecasts, 2023 - 2033 The global polyolefin market is anticipated to reach USD 357.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to expand at a CAGR of 5.1% from 2023 to 2030. The market is poised for growth due to increasing adaptation across the end-use industries. The use of polyolefins in automotive applications helps reduce fuel consumption on account of their ability to reduce the density and weight of vehicles compared to conventional materials such as rubber and metal. The use of polyolefins in automotive applications helps reduce fuel consumption on account of their ability to reduce the density and weight of vehicles compared to conventional materials such as rubber and metal. Increasing awareness regarding health hazards and consumer safety in various industries, such as electronics, healthcare, wire & cable, construction, and automotive, is expected to drive the global market over the forecast period. The use of polyolefins in automotive applications helps reduce fuel consumption on account of their ability to reduce the density and weight of vehicles compared to conventional materials such as rubber and metal. Increasing awareness regarding health hazards and consumer safety in various industries, such as electronics, healthcare, wire & cable, construction, and automotive, is expected to drive the global market over the forecast period. In the Polyolefin Market, major players have adopted various strategic initiatives such as new product launch, production expansion, merger & acquisition, and others. These strategic initiatives enable the market players to maintain the competitive environment and meet global demand. For instance, in May 2023, Borealis, an advanced & circular polyolefin solution provider launched Stelora to its existing portfolio of polyolefins. This sustainable engineering polymer provides attributes such as strength, durability, and higher thermal resistance. Research activities focused on new materials, which combine several properties, are projected to gain wide acceptance in this industry in the coming years. Some of the prominent companies manufacturing these products include China Petrochemical Corporation; LyondellBasell Industries Holdings B.V.; PetroChina Company Limited; TotalEnergies; Chevron Corporation; Repsol; Dow, Inc.; Exxon Mobil Corporation; Braskem; and Borealis AG. Request sample report of Polyolefin Market@https://www.grandviewresearch.com/industry-analysis/polyolefin-market/request/rs1 The market is poised for growth due to increasing adaptation across the end-use industries. The use of polyolefins in automotive applications helps reduce fuel consumption on account of their ability to reduce the density and weight of vehicles compared to conventional materials such as rubber and metal. Increasing awareness regarding health hazards and consumer safety in various industries, such as electronics, healthcare, wire & cable, construction, and automotive, is expected to drive the global market over the forecast period. The rapidly developing automotive industry is expected to trigger the demand for plastics in under-the-hood components as well as exteriors & interiors of automobiles. Polyolefins are majorly used in under-the-hood components in the automotive industry. Polyolefin Market Report Highlights
The demand for polyolefins such as polyethylene, polypropylene, ethylene-vinyl acetate, and thermoplastics is expected to grow in the U.S. from 2023 to 2030. This is due to the surging usage of medical masks, gloves, shoe & head covers, and gowns owing to rising health awareness among the masses and their increasing focus on hygiene and infection prevention. The proposed USD 2 trillion investment of the Federal Government of the U.S. in a 10-year infrastructure development plan is poised to capitalize on the low-risk environment, stable economy, and strong financial sector of the country. These favorable conditions have already attracted significant investor interest, fostering a conducive atmosphere for surged infrastructure expenditure and development in the U.S. This, in turn, is projected to positively impact the demand for polyolefins from the construction industry of the country. Polyolefin Market Report Scope
Thermoplastic polyolefins segment of the market in the U.S. is projected to grow at a significant rate during the forecast period owing to an exceptional combination of durability, weather resistance, easy process ability, and versatility which refers to their ability to be molded and reshaped when heated, and solidify when cooled, without undergoing significant chemical change offered by them. This makes thermoplastic polyolefins highly sought-after materials in the U.S. for use in the automotive, construction, and consumer goods industries. List of Key Players in the Polyolefin Market
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