Polyolefins Global Market Report 2024 | ExxonMobil Corporation, Saudi Basic Industries Corporation., China Petroleum & Chemical Corporation., Total SE, Arkema S.A.

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Polyolefins Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The polyolefins market size has grown rapidly in recent years. It will grow from $267.44 billion in 2023 to $298.46 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. The growth in the historic period can be attributed to industrialization and urbanization, consumer preference, emerging markets, increasing consumption of polyolefins.

The polyolefins market size is expected to see rapid growth in the next few years. It will grow to $447.42 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to biodegradable polyolefins, advanced packaging solutions, lightweighting, electric vehicle (ev) applications, smart packaging. Major trends in the forecast period include biodegradable polyolefins, advanced packaging solutions, lightweighting, electric vehicle (ev) applications, technological advancements.

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Key Market Players:

ExxonMobil Corporation, Saudi Basic Industries Corporation., China Petroleum & Chemical Corporation., Total SE, Arkema S.A., LyondellBasell Industries N.V., Braskem S.A., BASF SE, Bayer AG, Reliance Industries Limited, Borealis AG, INEOS Group AG, Repsol S.A., PetroChina Company Ltd., Ducor Petrochemicals B.V., Formosa Plastics Corporation, Chevron Phillips Chemical Company LLC., Hanwha TotalEnergies Petrochemical Co. Ltd., PolyOne Corporation, Sasol Limited, Tosoh Corporation, The Dow Chemical Company, LG Chem Ltd., Sumitomo Chemical Co Ltd., Mitsui Chemicals Inc., Westlake Chemical Corporation, Lotte Chemical Corporation, Versalis S.p.A., PTT Global Chemical Public Company Limited, China National Chemical Corporation are prominent players in the industry.

Market Drivers:

An increase in demand for packaged food is expected to propel the growth of the polyolefins market going forward. Packaged food is a type of food that saves time in food acquisition, preparation, and is ready-to-eat food from grocery stores. Polyolefins are used to pack food products with mechanical strength, and cost-efficiency, as a result, increasing demand for packaged food increases the demand for polyolefins market. For instance, according to the Press Information Bureau, a nodal agency of the Government of India, India exported more than $ 2.14 billion worth of final food products in 2020-21. The export of products under the ready-to-eat (RTE), ready-to-cook (RTC) and ready-to-serve (RTS) categories rose by more than 23% to $ 1011 million from April to October (2021-22) compared to $ 823 million reported in April to October (2020-21). Therefore, an increase in demand for packaged food is driving the growth of the polyolefins market.

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Market Segments Include:
1) By Type: Polyethylene (PP) - HDPE, LDPE, LLDPE, Polypropylene, Other Types
2) By Application: Films and Sheets, Blow Molding, Injection Molding, Profile Extrusion, Other Applications
3) By End-User: Packaging, Automotive, Construction, Pharmaceuticals/Medical, Electronics & Electricals

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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