North America Polyolefins Market: Market Analysis and Forecast (2021-2027) Trends, Statistics, Dynamics, Segmentation by Type, Application, End User, and Region
North America Polyolefins Market was valued at USD 48 billion in 2021. The North America Polyolefins Market size is estimated to grow at a CAGR of 9.5 % over the forecast period
Format : PDF | Report ID : SMR_950
North America Polyolefins Market Definition:
Polyolefins market demand will be driven by a variety of applications in a variety of markets, such as bundling, customer products, and others, over the forecast period. Increased interest in electric and hybrid vehicles fueled demand for vehicle and automotive parts, moving the market ahead. 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 North America Polyolefins market is segmented by Application, End Users, Types, and geography. On the basis of product type, the North America 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 North America Polyolefins market is segmented under the channels of Polyethylene, Polypropylene, and others. By geography, the market covers the major countries in North America i.e., US, Canada and Mexico. For each segment, the market sizing and forecasts have been done on the basis of value (in USD Billion).
North America Polyolefins COVID 19 Insights:
Downstream polyolefin derivatives are in scarce supply right now. The current wave of capacity growths in the polyethylene market has resulted in oversupply and squeezed profit margins, placing enterprises under even more hardship. For manufacturers already experiencing supply chain delays as a result of the US-China trade war, COVID-19 adds additional lead time to freight delivery. COVID-19 is a pandemic, according to the World Health Organization, and it is harming economic growth.
Since most countries have issued a "stay at home" mandate, i.e., lockdown, the pandemic is hurting tasks in numerous markets, including vehicles, oil and gas, development, aviation, and others. In addition, the COVID-19 episode is expected to be discovered in 2020 and for a few months in 2021. Polyolefins sector products are widely used in various markets, and their falling activities have a direct impact on Polyolefins market growth.
North America Polyolefins Market Dynamics:
Market Drivers: 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 North America polyolefin market. Polypropylene, polyethylene, and ethylene-vinyl acetate are the most often used film and sheet materials because of their durability and inexpensive cost. In addition, increased demand from developing countries is expected to drive market growth. The polyolefin market will grow significantly in the forecast period with cheap access to crude material in the United States, as well as expanding demand from the bundling and development market. Furthermore, the shale gas boom in North America has made cheaper crude materials available, leading to better net revenues for manufacturers and, as a result, a boost to the Market. The infusion-shaped plastics market is rapidly expanding in North America nations, boosting interest in these regions.
Market Restraints: One of the key constraints for the polyolefin market is growing environmental concerns due to enormous amounts of plastic waste. The government's efforts to limit the use of plastic are a significant roadblock. Furthermore, excessive demand and supply shortages resulting from factors such as the US-China trade war may lead to price increases, restricting the market growth. Environmental regulations prohibiting the use of hazardous synthetics in the production of polyolefins, on the other hand, are a substantial commercial constraint. Furthermore, the appalling circumstances that have arisen as a result of the COVID-19 disaster must hinder market progress.
Market Challenges: A key issue is the expanding number of events focused at raising awareness about the plastics ban. The demand for developing sustainable solutions is at an all-time high in the current market environment. The growing use of non-plastic materials by consumers may hinder market growth in forecast period.
Market Opportunities: The increasing technological advancements and product developments of key players may open up opportunities for growth. The development of bio-degradable and bio-based plastics is expected to be the most promising development in the North America polyolefin market in forecast period.
Packaging, automotive, construction, and transportation markets all contribute to the polyolefin market in North America. Furthermore, technological advancements in the creation of sustainable plastic solutions offer profitable growth opportunities for the region's top market players. Furthermore, as the use of electric vehicles grows, so does the demand for polyolefin, which is prized for its strength and lightness. This will substantially increase in the next years.
North America Polyolefins Market Segment Analysis:
In the type segment, polyethylene and polypropylene are expected to develop significantly. LLDPE and LDPE are often used in electrical insulation, whereas HDPE is widely employed in the production of home containers. Because of the high supply-to-demand ratio, international enterprises in the sector are constantly investing in research and development and innovation to broaden the scope of their end-use applications. Polyethylene has a wide range of applications. It's commonly used in food packaging because it's non-toxic in its solid condition. However, it is generally more expensive than other polyolefins, which is one of its key drawbacks. Ethylene-Vinyl Acetate (EVA) is used in the processing and packaging markets to improve the transparency, flexibility, and toughness of the product.
The movies and sheet segment of the Polyolefins market account for over 60% of the market throughout the forecast period because of its broad application across numerous Market verticals such as packaging, transportation, agrimarket, development, wellness, and cleaning. Growing demand for polyolefin films and sheets in horticulture applications such as nursery, mulch, and silage stretch films and silage sheets, as well as research and development for window films and clinical uses, is propelling the market forward. Furthermore, polyolefin-based rural films not only protect crops from the effects of ice, wind, and rain, but also allow natural products, veggies, and blossoms to age more quickly, allowing ranchers to produce several yields in a year. Polyolefin coatings also help to save water by lowering disappearance.
North America 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 europemarket, 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 North America Polyolefins market to the stakeholders in the market. The report provides trends that are most dominant in the North America Polyolefins market and how these trends will influence new market investments and market development throughout the forecast period. The report also aids in the comprehension of the North America 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 North America 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 North America 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 North America Polyolefins market.
The report provides Porter's Five Force Model, which helps in designing the market strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their product quality is in the North America Polyolefins market. The report also analyses if the North America 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 North America Polyolefins market. Economic variables aid in the analysis of economic performance drivers that have an impact on the North America Polyolefins market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the North America Polyolefins market is aided by legal factors.
North America Polyolefins Market Scope:
North America Polyolefins Market
by End User
Market Size in 2020:
USD 48 Billion
Market size in 2027:
USD 82.74 Billion
North America Polyolefins MARKET KEY PLAYERS:
- Emco Industrial Plastics (US)
- Industrial Plastic Supply (US)
- E & T Plastic Mfg(US)
- National Plasticand sales ( Us)
- Grafix Plastics(US)
- PalmerHolland (US)
- Accel Polymer (US)
- Lyondellbasell Markets(Us)
- Chase Plastic Services (US)
Frequently Asked Questions
The segments covered in the North America Polyolefins Market report are based on Type, Application, and End User.
The market size of the North America Polyolefins Market by 2027 is expected to reach USD 82.74 Billion.
The forecast period for the North America Polyolefins Market is 2022-2027.
The market size of the North America Polyolefins Market in 2021 was valued at USD 48 Billion.
- Scope of the Report
- Research Methodology
- Research Process
- North America Polyolefins Market: Target Audience
- North America Polyolefins Market: Primary Research (As per Client Requirement)
- North America Polyolefins Market: Secondary Research
- Executive Summary
- Competitive Landscape
- Stellar Competition matrix
- North America 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
- North America Polyolefins Market Segmentation
- North America Polyolefins Market, by Type (2021-2027)
- North America Polyolefins Market, by Application (2021-2027)
- Film & Shits
- Blow Molding
- Injection Molding
- North America Polyolefins Market, by End User (2021-2027)
- Electronic & Electrical
- North America Polyolefins Market, by Country (2021-2027)
- United States
- North America Polyolefins Market, by Type (2021-2027)
- Company Profiles
- Key Players
- Company Overview
- Product Portfolio
- Financial Overview
- Business Strategy
- Key Developments
- Emco Industrial Plastics
- Industrial Plastic Supply
- E & T Plastic Mfg
- National Plasticand sales
- Grafix Plastics
- Accel Polymer
- Lyondellbasell Markets
- Chase Plastic Service
- Key Players
- Key Findings