The global Polyolefin Elastomers (POE) market has reached around 1250 thousand tonnes in 2021 and is expected to grow at a CAGR of 6.42% during the forecast period until 2035. In a recent announcement, Wanhua Chemical announced that it has gained approval for a No 2 cracker with an annual capacity of 1.2 million tonnes capacity with two POE units with an annual capacity of 200,000 tonnes per unit.
POEs standout out for their high impact, toughness, low density, and mechanical properties. These resins can be used on their own to create molded or extruded parts with high flexibility and softness. They are often used in compounding applications where they enhance the flexibility of polypropylene or polyethylene-based compounds. This material is tough yet flexible making them one of the most popular materials used in healthcare equipment, adhesives, shoes, foams, cable and wire coatings, films, and vehicle exteriors and interiors.
The rising demand for POE is due to their amazing properties like flexibility, durability, toughness, and resistance to chemicals, results in their applications in multiple industries. The healthcare and automobile sectors are fast-growing sectors and in future will be requiring higher volume of durable and flexible materials for the manufacture needles, tubes, masks, and bags, foam and more. POE is expected to see a far stretch in its other applications such as manufacturing household goods and foam in the forecast years resulting in expansion of the global Polyolefin Elastomers (POE) market.
Based on region, Asia Pacific is consuming the maximum POE across all the regions around the globe. The POE demand by Asia Pacific is expected to grow with a CAGR of 6.6% in the forecast period. This is due to numerous industrial applications of POE such as for manufacturing automobile components and foam. Moreover, North America is also the prominent consumer of POE with demand to get double by 2035 owning up to the growing demands from the electronic industry.
Based on the end-user industry, the POE market is segmented into different sectors that include automotive, foam, wire & cable, household goods, packaging, and others. However, Automotive industry is the biggest end-user market of POE, holding a share of approximately 50% of global POE market expected to dominate the market in the forecast period as well. Another leading consumer of POE is the Foam industry, consuming significant volume of the Global POE market. Moreover, wire & cable, household goods also hold noticeable shares in the POE market.
Major players for Global POE production are LG Chem, Dow Chemical Company SCG-Dow Group, Mitsui Elastomers Singapore Pte Ltd, Exxon Mobil Corp. Ltd, SABIC SK Nexlene Company (SSNC), and others.
Years considered for this report:
Historical Period: 2015- 2021
Base Year: 2021
Estimated Year: 2022
Forecast Period: 2022-2035
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Objective of the Study:
• To assess the demand-supply scenario of Polyolefin Elastomer (POE) which covers production, demand and supply of Polyolefin Elastomer (POE) market in the globe.
• To analyse and forecast the market size of Polyolefin Elastomer (POE)
• To classify and forecast Global Polyolefin Elastomer (POE) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Polyolefin Elastomer (POE) market in the globe.
To extract data for Global Polyolefin Elastomers (POE) market, primary research surveys were conducted with Polyolefin Elastomer (POE)manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Polyolefin Elastomer (POE)market over the coming years.
ChemAnalyst calculated Polyolefin Elastomers (POE) demand in the globe by analyzing the historical data and demand forecast which was carried out considering the historical extraction and supply and demand of Polyolefin Elastomers (POE) across the globe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
• Organizations, forums and alliances related to Polyolefin Elastomer (POE)distribution
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Polyolefin Elastomer (POE)manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
In this report, Global Polyolefin Elastomer (POE) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.