Rise in demand from the healthcare sector and surge in deployment of renewable energy drive the growth of the global polyolefins market.
OREGON, PORTLAND, UNITED STATES, March 23, 2022 /
EINPresswire.com/ -- Increase in demand from the healthcare sector and rise in deployment of renewable energy fuel the growth of the global
polyolefins market. By type, the polyethylene segment held the highest share in 2020. By region, the market across Asia-Pacific would remain lucrative by 2028.
The global polyolefins market was estimated at $133.9 billion in 2020 and is expected to hit $446.6 billion by 2028, registering a CAGR of 12.5% from 2021 to 2028.
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COVID-19 impact analysis:
The outbreak of the COVID-19 pandemic left a significant impact on the global economy. The polyolefins market report provides a detailed study of the micro- and macro-economic impacts of the pandemic. Moreover, the analysis depicts the direct impact of COVID-19 on the polyolefins market. It recapitulates the detailed information about the market extent and shares owing to the impact of the outbreak. The report also emphasizes on the supply chain and the sales of the polyolefins market. Last but not the least; the study also exhibits a post-COVID-19 scenario, portraying different measures and initiatives taken by the government bodies across the world.
On the basis of application, the film & sheet segment accounted for the major share in 2020, garnering nearly one-third of the global polyolefins market. The same segment would also cite the fastest CAGR of 13.2% from 2021 to 2028.
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Asia-Pacific, followed by Europe and North America, accounted for the highest market share in 2020, holding around three-fifths of the global polyolefins market, and will maintain its dominant share in terms of revenue by 2028. Moreover, this region is expected to grow at the highest CAGR of 13.6% during the forecast period. This is due to presence of key players in emerging countries such as China, Malaysia, Japan, India, and others along with the demand from industries such as packaging, construction, automotive, and others.
Major Inclusions-
• Qualitative as well as quantitative assessment of the market on the basis of the detailed categorization involving both the economic and non-economic factors.
• Analysis at country and regional level, which portrays the share of the product or service in different regions.
• Elaborative company profiles section, which provides different pointers such as key executives, business enactment, company overview, product/service portfolio, R&D expenditure, current scenario, and prime strategies of the key market players.
• The forecasted market outlook of the polyolefins market based on recent developments, which incorporate the analysis of drivers, market trends, and growth opportunities.
• The COVID-19 impact on the polyolefins market
• Post-sales support and free customization
The key market players analyzed in the global polyolefins market report include SABIC, Total SE, Repsol, Reliance Industries, Formosa Plastics Corporation, LyondellBasell Industries N.V., Ineos Group AG, Ducor Petrochemical, and Sinopec Group. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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