Polyolefin Elastomer market is expected to grow at a compound annual growth rate (CAGR) of 7.76% from USD 2.02 billion in 2022 to USD 3.68 billion by 2030, from its estimated value of USD 1.8 billion in 2021.
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"The Global Polyolefin Elastomer Market 2020-2030 (USD Billion)")
Polyolefin Elastomers are manufactured by the polymerization of ethylene and various monomers like octane, hexane, propylene and butane. Polyolefin elastomer shows the properties like toughness, ductility of low temperature, low density, thermal stability & resistance to UV. Polyolefin elastomer market is used in several industries like automotive, electronics, electrical and medical. These properties are expected to boost the global polyolefin elastomer market.
Polyolefin elastomers are new class of polymers that are developed with new advancements the polymerization of metallocene catalysts. Polyolefin elastomers are the rapidly growing polymers, replaced for various polymers like ethylene vinyl acetate (EVA), poly vinyl chloride (PVC), ethylene propylene rubbers (EPDM/ EPR) and styrene-block copolymers (SBCs). Polyolefin elastomers are friendly with the olefinic materials, have good impact modifier for plastics, and provide capabilities of performance for products of polyolefin elastomers. These olefinic materials are supposed to fuel the polyolefin elastomer market globally.
Downstream of polyolefin elastomers is very huge and currently they have developed the substantial increase in several sectors of polymer modification, generic thermoplastic elastomers, cable & wire and more. Across the globe, polyolefin elastomers market is fueled by increase in the demand for the general purpose thermoplastic elastomers. General purpose thermoplastic elastomers are accounted for about 60% of overall consumption of polyolefin elastomers globally.
Global polyolefin elastomers market trends are increase in the usage of adhesives, packaging, automotive, consumer goods, master batches, footwear, cable & wire, houses, pipes, molded goods of rubber, hoses, footwear are boosting the growth of polyolefin elastomer market. As per the research, market of athletic footwear is anticipated to increase the market with a CAGR of about 2.5% on the basis of revenue during the forecast period. This substantial growth in the market of footwear is driving the polyolefin elastomer market growth as it has applications in the flexible foams in sandal, athletic footwear and more, because of the properties like light weight, softness and resiliency. Growth in the value for the automotive industry is increasing the global polyolefin elastomer market growth. Increase in the production of vehicle is developing the demand for polyolefin elastomers, due to the applications in the manufacture of interior and exterior parts of automotive like bumper fascia of automotive. This rise in the manufacturing of automotive is increasing the growth of global polyolefin elastomers market.
Global polyolefin elastomers market is segmented on the basis of product type, application and region. On the basis of product type, polyolefin elastomer market is divided into chemical grafting and mechanical blending type. On considering the application, polyolefin elastomer market is divided into packaging, electronics & electrical, adhesives, automotive, plastic and more. Automotive segment holds the largest global polyolefin elastomer market share because of rise in the use of product in airbags, automotive panels, bumpers, and adhesives, automotive exterior & interior parts.
Geographically, regions involved in the development of global polyolefin elastomer market size are South America, North America, Europe, Asia Pacific and Middle East & Africa. Asia Pacific is holding the global polyolefin elastomer market share and is expected to rise in the coming years.
Key players involved in the development of global polyolefin elastomer market are Mitsubishi Chemical Corporation, Exxon Mobil Corporation, Mitsui Chemicals, Saudi Basic Industries Corporation (SABIC) and more.
Polyolefin Elastomer Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2030 |
| Study Period | 2018-2030 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2030 | USD 3.68 billion |
| Growth Rate | CAGR of 7.76 % during 2020-2030 |
| Segment Covered | Product Type, By Applications, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Mitsubishi Chemical Corporation, Exxon Mobil Corporation, Mitsui Chemicals, Saudi Basic Industries Corporation (SABIC). |
Key Segments in the “Global Polyolefin Elastomers (POE) Market” are-
By Product Type, market is segmented into:
- Chemical Grafting
- Mechanical Blending Type
By Applications, market is segmented into:
- Packaging
- Electronics & Electrical
- Adhesives
- Automotive
- Plastic
- Others
By Regions market is segmented into:
- South America
- North America
- Europe
- Asia Pacific
- Middle East & Africa
Frequently Asked Questions (FAQ) :
The application of the polyolefin elastomer market Packaging, Electronics & Electrical, Adhesives, Automotive, Plastic and other.
The major players are Mitsubishi Chemical Corporation, Exxon Mobil Corporation, Mitsui Chemicals, Saudi Basic Industries Corporation (SABIC).
The base year for the report is 2023 in polyolefin elastomer market.