Polyolefin Resins Market (Product Type - Polyethylene (PE), Polypropylene (PP), and Others; End-user - Healthcare, Food and Beverage, Electronic Consumer Goods, Automotive, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

A recent report published by Infinium Global Research on the polyolefin resins market provides in-depth analysis of segments and sub-segments in the global as well as regional polyolefin resins market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional polyolefin resins market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global polyolefin resins market. According to the report, the global polyolefin resins market is projected to grow at a CAGR of 4% over the forecast period of 2020-2026.

Market Insight

Polyolefin Resins are the leading group of thermoplastics in use today. Two of the most popular types are polypropylene and polyethylene, due to their wide variety of applications. These resins offer exceptional strength and durability in demanding applications. Moreover, their versatility has made them one of the most popular products. These polyolefin resins are formed from simple olefins such as propylene, ethylene, butanes, isoprenes, or pentenes, or copolymers and derivative modification. The continuous growth of consumer goods, building and construction, electronics, electrical, and automotive industries the major factor driving the demand for polyolefin resins in the market.

An ever-increasing population has led to an increased demand for consumer goods, automotive, electronics, and electrical manufactured goods. This has resulted in an augmented demand for Polyolefin Resins which is widely used in the manufacturing of these commodities. Their low cost, easy processability, and superior chemical and physical properties, make them the most popular resins and often the preeminent choice for a multitude of plastic applications. However, oversupply and squeezed profit margins are anticipated to affect the growth of the market. In addition, increased use of recycled products is also likely to have negative implications on the consumption of virgin resins going forward. Moreover, ongoing advancements in polyolefin fiber grade resins are strengthening the olefin properties ratio. The development of new resins and structure designs such as BOPE are anticipated to bring notable advances in the polyolefins resins market going forward.

The effect of COVID-19 on the polyolefin resin industry has been quick and substantial. The pandemic has resulted in being a major disrupter, shifting the global dynamics. Several companies have postponed their feedstock shipments, while many others are still minimizing their spot purchases. Moreover, the reducing global demand has led to decreasing global prices, a process that began with the outbreak in China, which is the world’s largest importer of polyolefin. Several North American chemical firms, who had a robust consumer and production base in China, have reported a decline in 2020 Q1 earnings. COVID-19 disruptions saw prices drop after the Chinese government prohibited land logistics, which led to increased inventory. Apart from that, major players in the industry had also restricted production activity due to the safety concerns of the employees and government regulations.

Among the geographies, the Asia Pacific region is expected to witness significant growth in the global polyolefin resins market owing to increased product demand in key end-use verticals such as consumer goods and the automotive industry. North America is the second-largest market for polyolefin resins due to developments in the packaging sectors. Europe also holds a significant market share owing to rapid growth in industrial markets such as Germany and France.

Segment Covered

The report on global polyolefin resins market covers segments such as product type, and end-user. On the basis of product type, the sub-markets include polyethylene (PE), polypropylene (PP), and others. On the basis of end-user, the sub-markets include healthcare, food and beverage, electronic consumer goods, automotive, and others.

Companies Profiled:

The report provides profiles of the companies in the market such as Dow Chemical Company, Saudi Basic Industries Corporation, LG Chem Ltd, LyondellBasell Industries N.V., Chevron Phillips Chemical Company, LLC, Eni S.p.A, BASF SE, Ineos Group Ltd, NOVA Chemicals Corporation, Exxon Mobil Corporation, and China National Petroleum Corporation.

Report Highlights:

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 polyolefin resins market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. 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.