The rapid expansion of the end use industries is driving the market for powdered
Posted by rohan on November 9th, 2020
Polyolefin Powders Product Description:
The powdered polyolefin market is estimated to be worth $ 6.51 billion in 2020 and is predicted to reach $ 8.59 billion by 2025, with a CAGR of 4.89% during the foreseen period. Polyolefin powders are made up of a crystalline polyolefinic material produced from olefins. The powdered form of polyolefin is employed in various applications, such as rubber mixing, paper coating, ink and paint formulation, and injection molding. Different grades of polyolefin powder can be employed depending on the requirements of end-use industries such as automotive and transportation, paints and coatings, and building and construction.
Impact ofCovid 19 on the Polyolefin Powders Market:
The polyolefins market is going through a period of low call for its downstream derivatives. The continuing wave of expansion in polyolefin capacity has led to oversupply and reduced profit margins, putting additional pressure on producers. For manufacturers, already recovering from supply chain disruptions caemployed by the US-China trade war, COVID-19 has added an additional delay in goods deliveries. Polyolefin importers try to keep production condensed, in order to reduce product stocks and keep their consumption of raw materials at low levels. Some companies have delayed their shipments of raw materials, while many others continue to minimize their cash purchases. Amid the COVID-19 pandemic, reduced worldwide call has led to lower worldwide prices for polyolefins, a process that began with the outbreak in China, which is the world's largest importer of polyolefins.
Market drivers and restraints:
The rapid expansion of the end use industries is driving the market for powdered polyolefins. However, growing awareness of plastic's negative impact on the environment and the implementation of strict government regulations are hampering the market for polyolefins powders. However, the growing call for 3D printing offers lucrative opportunities for the polyolefin powder market. The increased use of powdered polyethylene in rotational molding applications for making tanks, containers, automobile fuel tanks and the like is driving the growing market call for powdered polyolefins. The growing call for these powder masterbatches applications, strong expansion in end-use industries, the growing reach of the container industry, and strong call for powdered polyolefins from emerging economies are also predicted to act as drivers of Large expansions that drove market expansion during the foreseen period from 2020 to 2025. In addition, the growing call for 3D printing is predicted to provide lucrative opportunities that will drive the expansion of the polyolefins powder market during the foreseen period mentioned above. However, strict environmental regulations regarding the use of harmful chemicals in the production of polyolefins are a major limitation in the market. Furthermore, adverse conditions resulting from the COVID-19 outbreak are also predicted to hamper market expansion.
To know more, click on the link below:
Report segmented as:
By end use industry:
The Asia Pacific region represented a significant portion of the worldwide polyolefin powder market in 2017 due to the escalating call for these powders in rotational molding and masterbatch applications in the region. Expansion into the automotive and transportation, paint and coatings, cosmetics, toys, tanks and containers, and building and construction industries in emerging economies such as China and India is also the driving force of the polyolefin powder market. North America and Europe are the main consumers of powdered polyolefins; however, it is estimated that the market in these regions will grow at a slow pace due to the implementation of strict government regulations on the use of polymers. The polyolefin powder market in Latin America is predicted to expand significantly during the foreseen period due to the development of the infrastructure and automotive sectors in Brazil. Asia-Pacific dominates the market for polyolefins powders due to strong call from the main end-use industries in the region. The Europe region is predicted to record the highest expansion rate during the foreseen period from 2020 to 2025 due to the rapid production and sale of auto parts in the region. Call for powdered polyolefins in rotational molding applications and in the automotive and transportation and paint and coatings industries is high, especially in China, India and Brazil. Emerging technologies and innovations are driving call for polyolefin powders in these industries. APAC is predicted to experience strong expansion over the next 5 years.
View a sample and decide:
Like it? Share it!
About the Authorrohan
Joined: September 20th, 2017
Articles Posted: 1,346
More by this author