NEW YORK, Sept. 17, 2015 /PRNewswire/ -- Global Polyolefins (PO) market is expected to grow at a CAGR of 4.51% during the forecast period. The market is estimated to be 130.54 million tonnes in 2014 and this will reach 170.07 million tonnes by 2020.
Polyethylenes (PE) and Polypropylenes (PP) are two of the world's most widely used commodity plastic resins. The market for these are expected to grow at a CAGR of 4.4% and 4.7% respectively. As of 2014, PE holds a share of about 36% of the total world plastics market and PP holds a share of 20%.
Currently, Asia-Pacific is the biggest market for polyolefins. With huge installed capacities of polyolefins, the region has acquired more than 45.3% of the global market share. The market is emerging in various countries like China, South Korea, India, Saudi Arabia and Brazil as result of the increase in industrial activity. A large number of emerging manufacturers from Asia-Pacific is expected to reduce import dependency and this will drive the market growth in future.
Polyolefin are used in a wide range of industries including Film & Sheet, Fibers, Blow Molding and Injection Molding. Some of the major players are LyondellBasell Industries NV (The Netherlands), China Petroleum & Chemical Corporation (China), DOW Chemical Company (U.S.) and Saudi Basic Industries Corporation (Saudi Arabia).
Easy availability of raw material in U.S. & China, and growing demand from packaging & construction industry are the major drivers decisive in market growth. Moreover, shale gas boom in North America has also provided an options for getting cheap raw materials. This will widen profit margins for the producers and provide a boost to the industry.
High capacity-to-demand ratio will act as a barrier for the growth of polyolefin industry. However, growing demand due to increased applications is expected to fade its effect.
What the report offers
1) Market Definition along with identification of key drivers and restraints for the market.
2) Market analysis with region specific assessments and competition analysis on a global and regional scale.
3) Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
4) Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.
5) Identification and analysis of the Macro and Micro factors that affect the industry on both global and regional scale.
6) A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
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