Polyolefin Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Global Polyolefins (PO) Market Trends and the market is Segmented by Material Type (Polyethylene (PE), Polypropylene (PP), Polyolefin Elastomer (POE), and Ethylene Vinyl Acetate (EVA)), Application (Films and Sheets, Injection Molding, Blow Molding, Extrusion Coating, and Fibers and Raffia), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The market size and forecasts are provided in terms of value (USD million) for all the above segments.

Polyolefins Market Size

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Polyolefin (PO) Market Summary
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Study Period 2019 - 2029
Market Size (2024) USD 268.25 Billion
Market Size (2029) USD 425.96 Billion
CAGR (2024 - 2029) 9.69 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific

Major Players

Polyolefin (PO) Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Polyolefins Market Analysis

The Polyolefin Market size is estimated at USD 268.25 billion in 2024, and is expected to reach USD 425.96 billion by 2029, growing at a CAGR of 9.69% during the forecast period (2024-2029).

The spread of COVID-19 hurt the market because it caused many end-user industries to shut down.During the pandemic, China hampered the polyolefins market intensively, as it is one of the major consumers of polyolefins owing to its strong industries such as packaging, toy manufacturing, construction, and automotive. However, as the industries resumed their manufacturing activities in 2021, the studied market may also recover.

  • Polyolefin is used in electronics, cars, and other industries because of its advanced properties. This is expected to help the market grow in the short term.
  • However, growing environmental regulations on plastic imposed by various governments may constrain the market.
  • The growing focus on green polyolefin is likely to create new opportunities in the coming years.
  • Asia-Pacific dominated the market worldwide, with the largest consumption coming from India, China, etc.

Polyolefins Market Trends

This section covers the major market trends shaping the Polyolefin (PO) Market according to our research experts:

Increasing Demand from Films and Sheets

  • Films and sheets can be used in the transportation, packaging, agriculture, building and construction, and building industries, among others.
  • The agricultural sector is driving the market's expansion, with demand for polyolefin films and sheets for greenhouses, mulch, and silage stretch films. The demand is also seen in silage sheets and window films, as well as in the medical sector.
  • Polyolefin-based agricultural films also protect vegetables from frost, wind, rain, and pests while speeding up the ripening of fruits, vegetables, and flowers, allowing farmers to grow several crops in a year. Polyolefin films also help reduce evaporation, thus saving water.
  • On the other hand, polyolefin sheets are used in the building sector. The polyethylene sheeting, which works as a vapor retarder, is installed beneath the slab. These sheets can retard for a longer time without degrading. As a result, the demand for polyolefin from the construction industry is expanding.
  • The Asia-Pacific construction industry is projected to become the world's largest and fastest-growing industry, with a 45% share of global construction spending coming from the region. In the coming years, this is likely to make more people want films and sheets.
  • In fiscal year 2022, India had a total polyolefins production capacity of over 12 thousand kilotons.The most polyolefins were made by Reliance Industries Limited, which made up almost 47% of India's total polyolefins production capacity.
  • Because of these things, the polyolefin market is likely to grow in the coming years as the demand for films and sheets rises.
Polyolefin (PO) Market - Production Capacity, Kilotons, by Type, Global, 2022

Asia-Pacific Region to Dominate the Market

  • Asia-Pacific is the dominant region in the polyolefins market, owing to China being the major consumer of polyolefins worldwide. The growth is driven by increasing e-commerce, as the strong courier business led to a spike in demand for plastic packaging. The country's manufacturing sector is one of the major contributors to its economy.
  • The Chinese government announced big building plans for the next 10 years, including plans to move 250 million people to new megacities. This is a big chance for construction chemicals to be used in a variety of ways to improve building properties during construction.
  • Electronic items, such as smartphones, OLED TVs, tablets, and other consumer electronics, are recording the fastest growth in the market. With more money in the pockets of the middle class, there will be more demand for electronics, which will drive the demand for polyolefins in the country.
  • In China, the electronics segment is projected to reach over USD 385 billion by the end of 2023.
  • All the above-mentioned factors will likely increase the demand for polyolefins over the forecast period.
Polyolefin Market - Growth Rate by Region, Global 2023-2028

Polyolefins Industry Overview

The polyolefin market is consolidated by nature. Some of the major players (not in any particular order) include LyondellBasell Industries Holdings BV, ExxonMobil Corporation, SABIC, LG Chem, and Mitsubishi Chemical Holdings Corporation, among others.

Polyolefins Market Leaders

  1. SABIC

  2. Mitsubishi Chemical Holdings Corporation

  3. LyondellBasell Industries Holdings BV

  4. ExxonMobil Corporation

  5. LG Chem

*Disclaimer: Major Players sorted in no particular order

Polyolefin (PO) Market Concentration
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Polyolefins Market News

  • November 2022: Stavian Quang Yen Petrochemical, Ltd. selected LyondellBasell's polypropylene (PP) technology for a new world-scale production facility. A 600-kiloton-per-annum PP plant equipped with LyondellBasell's Spheripol technology would fit in the facility. With this partnership, LyondellBasell became the polypropylene licensor for the group's first polyolefin facility.
  • August 2022: SABIC SK Nexlene, a joint venture between SABIC and SK Geo Centric, announced the expansion of their manufacturing plant situated in Ulsan, South Korea. The plant would be operational in the second quarter of 2024 and meet the growing demand for NEXLENE-based polyolefin solutions for various end-use industries.

Polyolefins Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Shift in Preferences from Rigid Packaging to Flexible Packaging

      2. 4.1.2 Growing Demand for Low-Cost Interior Furnishings

    2. 4.2 Restraints

      1. 4.2.1 Growing Environmental Regulations

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Value)

    1. 5.1 Material Type

      1. 5.1.1 Polyethylene (PE)

      2. 5.1.2 Polypropylene (PP)

      3. 5.1.3 Polyolefin Elastomer (POE)

      4. 5.1.4 Ethylene Vinyl Acetate (EVA)

    2. 5.2 Application

      1. 5.2.1 Films and Sheets

      2. 5.2.2 Injection Molding

      3. 5.2.3 Blow Molding

      4. 5.2.4 Extrusion Coating

      5. 5.2.5 Fibers and Raffia

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Arkema Group

      2. 6.4.2 BASF SE

      3. 6.4.3 Braskem

      4. 6.4.4 Chevron Phillips Chemical Company

      5. 6.4.5 China National Petroleum Corporation

      6. 6.4.6 China Petrochemical Corporation

      7. 6.4.7 Daelim

      8. 6.4.8 Dow

      9. 6.4.9 ExxonMobil Corporation

      10. 6.4.10 Formosa Plastics Corporation

      11. 6.4.11 Japan Polypropylene Corporation

      12. 6.4.12 LG Chem Ltd.

      13. 6.4.13 LyondellBasell Industries Holdings BV

      14. 6.4.14 Mitsubishi Chemical Holdings Corporation

      15. 6.4.15 Mitsui Chemicals Incorporated

      16. 6.4.16 Nova Chemicals Corporation

      17. 6.4.17 PetroChina Company Limited

      18. 6.4.18 Reliance Industries Limited

      19. 6.4.19 SABIC (Saudi Basic Industries Corporation)

      20. 6.4.20 Sasol Ltd.

      21. 6.4.21 Tosoh Corporation

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Growing Focus on Green Polyolefin

**Subject to Availability
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Polyolefins Industry Segmentation

Polyolefins are macromolecules produced by the polymerization of olefin monomer units. The most common polyolefins used in the market are polyethylene (PE) and polypropylene (PP). Polyolefins possess excellent processability, chemical stability, and long-term durability. It is the most frequently used thermoplastic polymer, with uses ranging from packaging to consumer products to fibers and textiles. The polyolefin market is segmented by material type, application, and geography. By material type, the market is segmented into polyethylene (PE), polypropylene (PP), polyolefin elastomer (POE), and ethylene vinyl acetate (EVA)lene (PE) and polypropylene (PP). Polyolefins possess excellent processability, chemical stability, and long-term durability. It is the most frequently used thermoplastic polymer, with uses ranging from packaging to consumer products to fibers and textiles. The polyolefin market is segmented by material type, application, and geography. By material type, the market is segmented into polyethylene (PE), polypropylene (PP), polyolefin elastomer (POE), and ethylene vinyl acetate (EVA). By application, the market is segmented into films and sheets, injection molding, blow molding, extrusion coating, fibers, and raffia. The report also covers the market size and forecast for the polyolefin market in 15 countries across major regions. For each segment, the market sizing and forecast have been done based on value (USD million).

Material Type
Polyethylene (PE)
Polypropylene (PP)
Polyolefin Elastomer (POE)
Ethylene Vinyl Acetate (EVA)
Application
Films and Sheets
Injection Molding
Blow Molding
Extrusion Coating
Fibers and Raffia
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Polyolefins Market Research FAQs

The Polyolefin (PO) Market size is expected to reach USD 268.25 billion in 2024 and grow at a CAGR of 9.69% to reach USD 425.96 billion by 2029.

In 2024, the Polyolefin (PO) Market size is expected to reach USD 268.25 billion.

SABIC, Mitsubishi Chemical Holdings Corporation, LyondellBasell Industries Holdings BV, ExxonMobil Corporation and LG Chem are the major companies operating in the Polyolefin (PO) Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia-Pacific accounts for the largest market share in Polyolefin (PO) Market.

In 2023, the Polyolefin (PO) Market size was estimated at USD 244.55 billion. The report covers the Polyolefin (PO) Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Polyolefin (PO) Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Polyolefin Industry Report

Statistics for the 2024 Polyolefin market share, size and revenue growth rate, created by Mordor Intelligenceā„¢ Industry Reports. Polyolefin analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Polyolefin Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)