A recent report published by Infinium Global Research on the polyolefin elastomer (POE) market provides an in-depth analysis of segments and sub-segments in the global as well as regional polyolefin elastomer (POE) market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional polyolefin elastomer (POE) market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global polyolefin elastomer (POE) market. According to the report, the global polyolefin elastomer (POE) market is projected to grow at a CAGR of 8% over the forecast period of 2021-2027.
The global polyolefin elastomers (POE) market was valued at around USD 1960 million in 2021 and is expected to reach nearly USD 3600 million in 2027, growing with a CAGR of 8% during the forecast period. Polyolefin elastomers (POE) are elastomers centered on a polyethylene backbone. It provides low density and high flexibility and is commonly utilized to impact modify PE and PP compounds or to make PE and PP molded products more malleable. Furthermore, polyolefin elastomers are companionable with most olefinic materials, are an outstanding impact modifier for plastics, and deliver unique performance capabilities for compounded products. Moreover, they can be utilized in injection molding, extrusion, film, and compounding. In addition, the molecular weight of the copolymer will aid determine its processing characteristics and end-use performance properties with higher molecular weights providing enhanced polymer toughness.
Demand for polyolefin elastomers (POE) in the manufacturing of medical devices, for example, catheters, tubes, masks, bags is increasing. Properties of polyolefin elastomers, such as easy blending with other polymers, high torque transference, high sterilization resistance, exceptional impact resistance, resistance to harsh chemicals, are likely to increase the demand for polyolefin elastomers (POE). Polyolefin elastomers and their properties make them perfect for applications such as prosthetics, surgical instruments, and mobility aids. These elastomers are soft enough to use on the patient’s skin; they can be hardened and made to withstand frequent use and shocks. Governing bodies across the world are focusing on the enactment of more strict regulations on the usage of plastics due to health concerns. Polyolefin elastomers are recyclable and do not pose any hazards to the environment. All these factors, together, boost the polyolefin elastomers (POE) market. On the other hand, a lack of awareness among consumers about polyolefin elastomers (POE) is hampering the market growth.
Among the geographies, the Asia Pacific region is expected to hold the largest share in the global polyolefin elastomers (POE) market during the forecast period. Increasing demand from the packaging and automotive manufacturing industries is expected to drive market growth. China, Japan, and India are key countries contributing to the market growth in the region due to the growing application of polyolefin elastomers in food & beverages, packaging, and automobile industries in these countries. The North American region is anticipated to show substantial growth owing to the rising usage of polyolefin elastomers in numerous applications. The market is projected to be driven by technological advancements, economic growth, and industrial growth across the region.
The report on the global polyolefin elastomer (POE) market covers segments such as type, and application. On the basis of type, the sub-markets include medical grade, industrial grade, and others. On the basis of application, the sub-markets include packaging, automotive, polymer modification, wires and cables, medical, and others.
The report provides profiles of the companies in the market such as Mitsui Chemical, Inc., LG Chem Ltd., RTP Company, Inc., DowDuPont Inc., PolyOne Corporation, Siloxane Aggrandize Innovative Industries, Dalmia Polymers LLP, Tricon Energy Inc., Borealis AG, and SK Global Chemical Co., Ltd..
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the polyolefin elastomer (POE) market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.