Asia Pacific Polyolefins Market - Market Analysis and Forecast (2021-2027)
Asia Pacific Polyolefins Market was valued at USD 115.48 billion in 2021 and the market size is projected to grow at a CAGR of 9.6 % over the forecast period.
Format : PDF | Report ID : SMR_960
Asia Pacific Polyolefins Market Definition:
The polyolefin family of thermoplastics includes polypropylene and polyethylene. The polymerization of ethylene and propylene, respectively, is used to make it largely from natural gas and oil. It's made up of hydrocarbons, olefins, and monomers, and it's chemically stable, processable, and long-lasting. It's the most common thermoplastic polymer, and it's used in everything from packaging to consumer goods to fibres and textiles. Because of its capacity to withstand physical loads, give strength, allow for flexible bundling, and allow for quick item trimming, polyolefins are rapidly being used in fashion, sports, and toys. Polyolefins are being employed in farming, as seen by the growing interest in drippers, small cylinders, spouts, and discharging pipes at water system fields.
Further, the Asia Pacific Polyolefins market is segmented by Application, End Users, Types, and geography. On the basis of product type, the Asia Pacific Polyolefins market is segmented under Film & Shits, Blow Molding, Injection Molding, Fibers, and Others. Based on the distribution channel, the market is segmented under the channels of Packaging, Automotive, Construction, Pharmaceutical, and Electronic & Electrical. Based on the Types, the Asia Pacific Polyolefins market is segmented under the channels of Polyethylene, Polypropylene, and others. By geography, the market covers the major countries in Asia Pacific i.e., India, China, Japan, Australia and Rest of Asia Pacific For each segment, the market sizing and forecasts have been done on the basis of value (in USD Billion).
Asia Pacific Polyolefins COVID 19 Insights:
Polyolefin downstream derivatives are now in short supply. Oversupply and compressed profit margins have emerged from the current wave of capacity growths in the polyethylene market, putting companies under even more strain. COVID-19 adds additional lead time to freight delivery for manufacturers already experiencing supply chain delays as a result of the US-China trade war. The World Health Organization has categorized COVID-19 as a pandemic, and it is affecting economic growth. Because most countries have issued "stay at home" orders, i.e., lockdown, the outbreak is affecting operations in different markets including automotive, oil and gas, construction, aerospace, and others.
The full research study looks at the polyolefins market both qualitatively and quantitatively. Both the supply and demand sides of the market were investigated. The demand-side research examines market income in various regions before comparing it to income in all major countries. The supply-side research examines the sector's most powerful competitors, as well as their regional and presence and strategy.
Asia Pacific Polyolefins Market Dynamics:
Market Drivers: The sales revenue of the films and sheets application has a significant impact on the growth of the polyolefin market. One of the market's primary driving forces is film and sheet. The Asia Pacific polyolefin market is growing due to increased demand for films and sheets from a variety of markets, including packaging, agriculture, cosmetics, construction, and the automotive market. Because of their robustness and low pricing, polypropylene, polyethylene, and ethylene vinyl acetate are the most often used film and sheet materials. Furthermore, rising demand from developing countries is likely to boost market growth.
Increased demand for films and sheets from a range of markets, including packaging, agriculture, cosmetics, construction, and the automotive market, is driving growth in the Asia Pacific polyolefin market. Polypropylene, polyethylene, and ethylene vinyl acetate are the most often used film and sheet materials because to their durability and inexpensive cost. In addition, increased demand from developing countries is expected to drive market growth.
Market Restraints: Growing environmental concerns due to massive amounts of plastic waste are one of the primary restrictions for the polyolefin market. The government's efforts to restrict the usage of plastic constitute a major impediment. Furthermore, high demand and supply shortages caused by causes such as the US-China trade war may result in a price increase, stifling market growth. Environmental rules restricting the use of dangerous synthetics in polyolefin manufacture, on the other hand, constitute a significant commercial restraint. Furthermore, the horrible conditions that have evolved as a result of the COVID-19 tragedy must stifle market development.
Market Opportunity: Key players' increasing technology advances and product developments may create prospects for growth. For example, in the near future, the development of bio-degradable and bio-based plastics is expected to be the most promising development in the Asia Pacific polyolefin market.
Market Challenges: The growing number of activities aimed at raising awareness about the ban on plastics is a significant problem. In the current market environment, the demand for generating sustainable solutions is at an all-time high. Consumers' increasing use of non-plastic materials may limit market growth in the future.
March 2020, In China, LyondellBasell and Liaoning Bora formed a joint venture to create an ethylene cracker and polyolefin derivative complex with a capacity of 1.1 million tonnes per year.
Asia Pacific polyolefin market is expected to increase at a CAGR of 13% over the forecast period and occupied a 48% share of the total polyolefin market. Because of the existence of developing economies such as India, China, Japan, and South Korea, this is the case. Packaging, automotive, and construction are three markets in these emerging economies with rapidly growing consumer bases. The Asia Pacific is the largest polyolefins market and one of the largest polyolefins users on the planet. China dominates the region's market, while India is expected to be the region's fastest-growing market. Because of expanding population and rapid industrialization, the Asia Pacific polyolefins market is expected to rise.
China is a major contributor to the market due to its vast consumer base and the presence of major enterprises in the polyolefins market. Rapid industrialization, significant infrastructure investments, rapid urbanization, the growth of e-commerce, and the growth of the region's vehicle market are all elements contributing to the region's success. Because many people in Asia Pacific are still reliant on agriculture, the region's film and sheet market have a lot of space to grow.
Asia Pacific Polyolefins Market Segment Analysis:
Polyethylene and polypropylene are expected to grow substantially in the type segment. LLDPE and LDPE are commonly used in electrical insulation, while HDPE is commonly utilized in-home container manufacturing. Because of the high supply-to-demand ratio, international companies in the sector are constantly investing in R&D and innovation in order to expand the breadth of their end-use applications. Polyethylene can be used in a variety of ways. It's commonly used in food packaging because it's non-toxic in its solid condition. However, one of its major disadvantages is that it is often more expensive than other polyolefins. Ethylene-Vinyl Acetate (EVA) is used in the processing and packaging markets because it improves the product's transparency, flexibility, and toughness.
Food packaging, blown film bags, industrial thermoforming, and other applications all utilized polyolefin, with film and sheet becoming the most popular application sector. The applicability also covers packing carrier bags, industrial bags, agricultural stretch wraps, and other items. Another key application for polyolefins including LDPE, LLDPE, HDPE, EVA, PP, and TPO is injection molding. The lightweight nature of the material, chemical resistance, and hardness at low temperatures account for its wide application range. Injection molding uses the bulk of polyolefin resins as pellets.
Asia Pacific Polyolefins Market Key Players Insights:
The market is characterized by the existence of a number of well-known firms. These companies control a large portion of the market, have a wide product portfolio, and have a presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.
The market's major companies have a significant impact because most of them have extensive networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the market, key players in the market, particularly in this region, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.
The objective of the report is to present a comprehensive analysis of the Asia Pacific Polyolefins market to the stakeholders in the market. The report provides trends that are most dominant in the Asia Pacific Polyolefins market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Asia Pacific Polyolefins Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.
The qualitative and quantitative data provided in the Asia Pacific Polyolefins market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the market and market growth through the forecast period. The report also includes the competitive landscape of key players in the market along with their recent developments in the Asia Pacific Polyolefins market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Asia Pacific Polyolefins market.
The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their product quality is in the Asia Pacific Polyolefins market. The report also analyses if the Asia Pacific Polyolefins market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, if the market is dominated by a few players, etc.
The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Asia Pacific Polyolefins market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Asia Pacific Polyolefins market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Asia Pacific Polyolefins market is aided by legal factors.
Asia Pacific Polyolefins Market Scope:
Asia Pacific Polyolefins Market
by End Users
Market Size in 2021:
USD 115.48 Billion
Market size in 2027:
USD 202.36 Billion
Asia Pacific Polyolefins Market Key Players:
- Sinopec Corp. (China)
- Reliance Industries, (India)
- Mitsubishi Chemical Holding Corp (Japan)
- Himachal Polyolefin (India)
- Shhanghai Inoac Polymer Product ( China)
- Dongli (China)
- Japan PolychemCorp (Japan)
Frequently Asked Questions
The segments covered in the Asia Pacific Polyolefins Market report are based on Type, Application, and End User.
The market size of the Asia Pacific Polyolefins Market by 2027 is expected to reach USD 202.36 Billion.
The forecast period for the Asia Pacific Polyolefins Market is 2022-2027.
The market size of the Asia Pacific Polyolefins Market in 2021 was valued at USD 115.48 Billion.
- Scope of the Report
- Research Methodology
- Research Process
- Asia Pacific Polyolefins Market: Target Audience
- Asia Pacific Polyolefins Market: Primary Research (As per Client Requirement)
- Asia Pacific Polyolefins Market: Secondary Research
- Executive Summary
- Competitive Landscape
- Stellar Competition matrix
- Asia Pacific Stellar Competition Matrix
- Key Players Benchmarking: - by Product, Pricing, Investments, Growth Plans, Physical Presence, and Presence in the Market.
- Mergers and Acquisitions in Market: - M&A by Region, Value, and Strategic Intent
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Challenges
- PESTLE Analysis
- PORTERS Five Force Analysis
- Value Chain Analysis
- Stellar Competition matrix
- Asia Pacific Polyolefins Market Segmentation
- Asia Pacific Polyolefins Market, by Application (2021-2027)
- Film & Shits
- Blow Molding
- Injection Molding
- Asia Pacific Polyolefins Market, by Type (2021-2027)
- Asia Pacific Polyolefins Market, by End User (2021-2027)
- Electronic & Electrical
- Asia Pacific Polyolefins Market, by Country (2021-2027)
- Rest of Asia Pacific
- Asia Pacific Polyolefins Market, by Application (2021-2027)
- Company Profiles
- Key Players
- Sinopec Corp
- Company Overview
- Product Portfolio
- Financial Overview
- Business Strategy
- Key Developments
- Reliance Industries
- Mitsubishi Chemical Holding Corp
- Himachal Polyolefin
- Shanghai Inoac Polymer Product
- Japan Polychem Corp
- Sinopec Corp
- Key Players
- Key Findings