Polyolefin Powders Market Overview
Polyolefin powders market was valued at USD 6.46 Billion in 2021 and is projected to reach USD 8.48 Billion by 2028, at a CAGR of 4.62% between 2022 - 2030
The Polyolefin Powders Market has gained huge attention over the past few years and is driven by the soaring demand from several end use industries like tank containers, toys, paints coatings, and automotive transportation sectors. Rapid boom in these sectors is stimulating the market growth across the globe. The market is gaining huge momentum due to the increased utilization of polyolefin powders in roto molding application. The surging demand for 3D printing is further providing lucrative opportunities to the market on a global scale.
On the contrary, growing awareness regarding the negative impacts of plastic on the environment, coupled with the implementation of strict mandates by the government is likely to restrict the market in the foreseeable future.
Global Polyolefin Powders Market: Segmental Analysis
The global polyolefin powders market has been segmented on the basis of application, type, and end use industry.
By type, the polyolefin powders market is segmented into polyethylene (PE), polypropylene (PP), and ethylene-vinyl acetate (EVA). Of these, the PE segment is likely to lead the market globally, owing to the high utilization of PE powder in roto-molding. Attributes such as excellent wrap resistance, high flexibility, cost-effectiveness, and consistent shrinkage are predicted to trigger its demand in the segment.
By application, the polyolefin powders market is segmented into masterbatches, roto-molding, BMC, SMC, sintering agents, dusting agents, carpet applications, binding agents, and others. Of these, roto-molding is extensively used in the manufacturing of containers and tanks, leisure products, toys, and industrial products like blower housing, recycling units, and water filtration systems. It is also used for transportation products like tractor dashboards, diesel fuel tanks, instrument panels, wheel arches, and ducting, which triggers the market growth in the segment.
By end use industry, the market is segregated into food packaging, electronics, automotive, construction, medical, textiles, and others. Of these, the automotive segment is likely to dominate the market owing to the extensive use of polymeric compounds to manufacture automobiles. Moreover, the mounting demand for fuel-efficient and lightweight vehicles to meet the regulations for VOC emissions has led to the use of plastic materials in automobiles.
Regional Frontiers
Geographically, the polyolefin market spans across North America, Europe, Asia Pacific, Latin America, and the Middle East Africa.
Considering the global scenario, Asia Pacific is likely to command the largest share in the global market. Soaring demand for polyolefin powder from major end use industries is likely to propel the market growth. Soaring demand for polyolefin powder from masterbatch and roto-molding applications will create growth avenues in the regional market. Moreover, expansion in the paints and coatings, automotive transportation, toys, cosmetics, building construction, and tank containers industries, especially in countries like India and China are stimulating the market growth.
Europe and North America are considered to register significant growth in the global polyolefin powder market. However, the market in these regions will grow at a sluggish pace, owing to the implementation of strict government mandates on the use of polymers.
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Competitive Dashboard
The top players operating in the global polyolefin powders market include Exxon Mobil Corporation (US), LyondellBasell Industries Holdings BV (Netherlands), Merck KGaA (Germany), INEOS (UK), Borealis AG (Austria), SABIC (Saudi Arabia), Axalta Coating Systems (US), Eastman Chemical Company (US), Mitsui Chemicals, Inc. (Japan), Wacker Chemie AG (Germany), Sumitomo Seika Chemicals Co., Ltd (Japan), and Asahi Kasei Corporation (Japan).
Industry Updates
April 2019: Borealis, a polyolefins-based company and manufacturer of fertilizers, has recently initiated its all-new polypropylene compounding unit in Taylorsville, that promises to enhance the company’s ability to serve the customers of the automotive industry with short glass fiber and thermoplastic polyolefin compounds.
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