LONDON, Feb. 3, 2016 /PRNewswire/ -- Middle East & Africa Polyolefins (PO) production is currently estimated to be 130.54 million tonnes in 2014 and is expected to reach 170.07 million tonnes showing a compound annual growth rate of 4.51%. Polyethylenes (PE) and Polypropylenes (PP) are the world's most widely used commodity plastic resins.The market for these individual sections expected to grow at a CAGR of 4.4% and 4.7% respectively, with PE having a share of about 36% of the total world plastics market, and PP having a share of 20%.
Currently, Asia-Pacific is the largest polyolefins market, acquiring more than 45.3% of the Middle East & Africa market. The region has huge installed plant capacities of polyolefins. The market is emerging in various countries like China, South Korea, India, Saudi Arabia, Brazil, etc due to increasing industrial activity. Also, large number of emerging manufacturers from Asia-Pacific is expected to reduce import dependency and is expected to drive the market in future. China is experiencing the highest polyolefins demand Middle East & Africaly, mainly due to increase in its industrial growth.
Polyolefin are used in an increasing number of markets – from Film & Sheet, Blow Molding, Injection Molding, Fibers and others.
Key participants in the Middle East & Africa polyolefins market include LyondellBasell Industries NV (The Netherlands), China Petroleum & Chemical Corporation (China), The Dow Chemical Company (U.S.), Saudi Basic Industries Corporation (Saudi Arabia) among others
Drivers
Polyolefin market is expected to grow significantly in future boosted by easy availability of raw material in U.S. & China, and growing demand from packaging & construction industry. Moreover, in North America, shale gas boom has provided an opportunity for availability of cheaper raw material, thus widening profit margins for the producers hence, providing a boost to the industry. Injection-molded plastics industry is flourishing at a fast pace in emerging economies such as: Asia-Pacific, ultimately driving demand in these regions.
Challenges
High capacity-to-demand ratio will act as a barrier for the growth of polyolefin industry but growing demand due to increased applications is expected to fade its effect.
What the report contains
The report elucidates the situation of polyolefin around the world and studies the markets of the polyolefin type which include High-density Polyethylene (HDPE), Low-density Polyethylene (LDPE), and Polypropylene (PP).
Lastly, the report is divided by countries - Saudi Arabia, South Africa and others; where-in the market share of each region is analyzed and estimates are provided for the next 5 years. The various applications of polyolefin have been discussed in detail in addition to a comprehensive overview of the market.
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