Polyolefin Elastomers Market
Polyolefin Elastomers Market Size, Share & Trends Analysis Report by Type (Polyethylene, Polypropylene, and Ethylene Propylene diene monomer), by Manufacturing Methods (Solution Polymerization, Suspension Polymerization, Gas-Phase Polymerization, Slurry Polymerization, and Bulk Polymerization), by Application (Vehicle (Interior/Exterior), Films & Sheets, Wires & Cables, Roofing & Flooring, Syringe, and Other), and by (Automotive Industry, Packaging Industry, Construction Industry, Electrical & Electronics Industry, Healthcare & Medical Industry, and Others) Forecast Period (2024-2031)
Polyolefin elastomers market is anticipated to grow at a CAGR of 7.7% during the forecast period (2024-2031). The global polyolefin elastomers (POE) market is expected to grow owing to the demand for sustainable, high-performance materials in various industries. POEs are used in consumer goods, electronics, and healthcare owing to their flexibility, electrical properties, and biocompatibility.
Market Dynamics
Growing Automotive Industry
There are numerous new possibilities for POE applications in automobiles. The growing demand for lightweight materials to reduce emissions and improve fuel efficiency has led to a boom in the use of polyolefin elastomers in the automobile industry. According to the ACEA - European Automobile Manufacturers' Association, in May 2023 the global production of motor vehicles increased by 5.7% in 2022, with a total of 85.4 million vehicles being manufactured globally.
Global Motor Vehicle Production in 2021 VS 2022
Source: ACEA - European Automobile Manufacturers' Association
The growing automotive industry globally has promoted manufacturers to introduce advanced polyolefin elastomers to meet the demand of the automotive industry. For instance, in March 2024, Dow developed a POE-based artificial leather solution for the automotive industry, offering ultra-soft, color-stable, good aging, and low-temperature resistance. The solution is commercialized by HIUV Materials Technology and qualified by an electric car manufacturer. It also has low VOC and odor and is 25.0% to 40.0% lighter than PVC leather.
Market Segmentation
- Based on type, the market is segmented into polyethylene, polypropylene, and ethylene propylene diene monomer.
- Based on manufacturing methods, the market is segmented into solution polymerization, suspension polymerization, gas-phase polymerization, slurry polymerization, and bulk polymerization.
- Based on application, the market is segmented into the printing industry, packaging industry, automotive industry, electronics, medical devices, and others (consumer goods).
- Based on application, the market is segmented into the automotive industry, packaging industry, construction industry, electrical & electronics industry, healthcare & medical industry, and others (consumer goods industry, and agriculture industry).
Polyethylene is Projected to Emerge as the Largest Segment
The rise in complex environmental regulations is prompting manufacturers to adopt sustainable materials, especially renewable polyolefin elastomers, to meet the growing demand for eco-friendly alternatives. For instance, in May 2023, Borealis introduced a new line of polyolefin plastomers and elastomers based on renewable feedstock, aiming to provide high-quality, environmentally friendly packaging solutions.
Regional Outlook
The global polyolefin elastomers market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).
Increased Plastic Production In North America Region
Increased production of plastics can arise from manufacturing trends, the economic recovery, or rising consumer demand, prompting the import of increased machinery. According to the Plastics Industry Association, in January 2024, the US imported plastics machinery worth $1.8 billion, experiencing a decrease of 4.4% compared to the previous year. The projected import values for October and November are $129.4 million and $150.1 million, respectively. This data provides a key indicator for understanding the state of plastics manufacturing, as an upsurge in plastics machinery imports typically signifies robust plastic conversion. The reduced imports of plastics equipment this year align with the decline in plastics product manufacturing, and the possibility of an uptick in plastics equipment imports in 2024 depends on increased plastics production and a limited inventory of plastics equipment.
US Plastics Machinery Imports
Source: Plastics Industry Association
Global Polyolefin Elastomers Market Growth by Region 2024-2031
Asia-Pacific Holds Major Market Share
The high demand for POE across the region has made a significant contribution to the high share of the regional market. The demand for POEs is increased by investments in electric vehicle (EV) infrastructure, and development and diversification opportunities are generated by the global expansion of EVs and cooperated organizations. According to the Indian Brand Equity Foundation (IBEF), in March 2024, the EV market is projected to grow by 5 times to $1.3 trillion by 2028. India has achieved a significant milestone with the sale of 1.3 million EVs in FY24. The EV market is expected to reach $7.1 billion by 2025, with a potential $206.0 billion opportunity in India by 2030, requiring $180.0 billion investment in manufacturing and charging infrastructure.
Market Players Outlook
*Note: Major Players Sorted in No Particular Order.
The major companies serving the polyolefin elastomers market include Borealis AG, Dow Chemical Co., Exxon Mobil Corp., LG Chem, Ltd., and Mitsui Chemicals, Inc. among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers and acquisitions to stay competitive in the market. For instance, in January 2023, SUMIKA and HEXAGON collaborated to reduce plastic carbon emissions by 60.0% for new vehicles by digitizing sustainable automotive-grade polypropylene compounds. This allows for more recyclable components and a lower carbon footprint.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global polyolefin elastomers market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Borealis AG
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Dow Chemical Co.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Exxon Mobil Corp.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Key Strategy Analysis
4. Market Segmentation
4.1. Global Polyolefin Elastomers Market by Type
4.1.1. Polyethylene
4.1.2. Polypropylene
4.1.3. Ethylene Propylene diene monomer
4.2. Global Polyolefin Elastomers Market by Manufacturing Method
4.2.1. Solution Polymerization
4.2.2. Suspension Polymerization
4.2.3. Gas-Phase Polymerization
4.2.4. Slurry Polymerization
4.2.5. Bulk Polymerization
4.3. Global Polyolefin Elastomers Market by Application
4.3.1. Vehicle (Interior/Exterior)
4.3.2. Films & Sheets
4.3.3. Wires & Cables
4.3.4. Roofing & Flooring
4.3.5. Syringe
4.3.6. Others (Adhesives and Sealants, Agricultural Equipment Components, and Construction Materials)
4.4. Global Polyolefin Elastomers Market by End-User
4.4.1. Automotive Industry
4.4.2. Packaging Industry
4.4.3. Construction Industry
4.4.4. Electrical & Electronics Industry
4.4.5. Healthcare & Medical Industry
4.4.6. Others (Consumer Goods Industry, and Agriculture Industry)
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
5.4.1. Latin America
5.4.2. Middle East and Africa
6. Company Profiles
6.1. Arkema SA
6.2. Avient Corp.
6.3. Braskem SA
6.4. Chevron Phillips Chemical Company LLC
6.5. Dalmia Polymers LLP (DPL)
6.6. Eni S.p.A.
6.7. Formosa Plastics Corp.
6.8. Hanwha Corp.
6.9. INEOS AG
6.10. Kraton Corp.
6.11. LG Chem, Ltd.
6.12. LyondellBasell Industries N.V.
6.13. Mitsui Chemicals, Inc.
6.14. Reliance Industries Ltd.
6.15. RTP Co.
6.16. SI Fire Engineers Pvt. Ltd.
6.17. Sumitomo Chemical Co., Ltd.
6.18. Tosoh India Pvt. Ltd.
6.19. UBE Corp.
6.20. Versalis S.p.A.
6.21. Westlake Corp.
1. Global Polyolefin Elastomers Market Research And Analysis By Type, 2023-2031 ($ Million)
2. Global Polyethylene Polyolefin Elastomers Market Research And Analysis By Region, 2023-2031 ($ Million)
3. Global Polypropylene Polyolefin Elastomers Market Research And Analysis By Region, 2023-2031 ($ Million)
4. Global Ethylene Propylene Diene Monomer Polyolefin Elastomers Market Research And Analysis By Region, 2023-2031 ($ Million)
5. Global Polyolefin Elastomers Market Research And Analysis By Manufacturing Methods, 2023-2031 ($ Million)
6. Global Polyolefin Elastomers By Solution Polymerization Market Research And Analysis By Region, 2023-2031 ($ Million)
7. Global Polyolefin Elastomers By Suspension Polymerization Market Research And Analysis By Region, 2023-2031 ($ Million)
8. Global Polyolefin Elastomers By Gas-Phase Polymerization Market Research And Analysis By Region, 2023-2031 ($ Million)
9. Global Polyolefin Elastomers By Slurry Polymerization Market Research And Analysis By Region, 2023-2031 ($ Million)
10. Global Polyolefin Elastomers By Bulk Polymerization Market Research And Analysis By Region, 2023-2031 ($ Million)
11. Global Polyolefin Elastomers Market Research And Analysis By Application 2023-2031 ($ Million)
12. Global Polyolefin Elastomers In Vehicle Market Research And Analysis By Region, 2023-2031 ($ Million)
13. Global Polyolefin Elastomers In Films & Sheets Market Research And Analysis By Region, 2023-2031 ($ Million)
14. Global Polyolefin Elastomers In Wires & Cables Market Research And Analysis By Region, 2023-2031 ($ Million)
15. Global Polyolefin Elastomers In Roofing & Flooring Market Research And Analysis By Region, 2023-2031 ($ Million)
16. Global Polyolefin Elastomers In Syringe Market Research And Analysis By Region, 2023-2031 ($ Million)
17. Global Polyolefin Elastomers In Other Application Market Research And Analysis By Region, 2023-2031 ($ Million)
18. Global Polyolefin Elastomers Market Research And Analysis By End-User 2023-2031 ($ Million)
19. Global Polyolefin Elastomers For Automotive Industry Market Research And Analysis By Region, 2023-2031 ($ Million)
20. Global Polyolefin Elastomers For Packaging Industry Market Research And Analysis By Region, 2023-2031 ($ Million)
21. Global Polyolefin Elastomers For Construction Industry Market Research And Analysis By Region, 2023-2031 ($ Million)
22. Global Polyolefin Elastomers For Electrical & Electronics Industry Market Research And Analysis By Region, 2023-2031 ($ Million)
23. Global Polyolefin Elastomers For Healthcare & Medical Industry Market Research And Analysis By Region, 2023-2031 ($ Million)
24. Global Polyolefin Elastomers For Other End-Users Market Research And Analysis By Region, 2023-2031 ($ Million)
25. Global Polyolefin Elastomers Market Research And Analysis By Region, 2023-2031 ($ Million)
26. North American Polyolefin Elastomers Market Research And Analysis By Country, 2023-2031 ($ Million)
27. North American Polyolefin Elastomers Market Research And Analysis By Type, 2023-2031 ($ Million)
28. North American Polyolefin Elastomers Market Research And Analysis By Manufacturing Methods, 2023-2031 ($ Million)
29. North American Polyolefin Elastomers Market Research And Analysis By Application, 2023-2031 ($ Million)
30. North American Polyolefin Elastomers Market Research And Analysis By End-User, 2023-2031 ($ Million)
31. European Polyolefin Elastomers Market Research And Analysis By Country, 2023-2031 ($ Million)
32. European Polyolefin Elastomers Market Research And Analysis By Type, 2023-2031 ($ Million)
33. European Polyolefin Elastomers Market Research And Analysis By Manufacturing Methods, 2023-2031 ($ Million)
34. European Polyolefin Elastomers Market Research And Analysis By Application, 2023-2031 ($ Million)
35. European Polyolefin Elastomers Market Research And Analysis By End-User, 2023-2031 ($ Million)
36. Asia-Pacific Polyolefin Elastomers Market Research And Analysis By Country, 2023-2031 ($ Million)
37. Asia-Pacific Polyolefin Elastomers Market Research And Analysis By Type, 2023-2031 ($ Million)
38. Asia-Pacific Polyolefin Elastomers Market Research And Analysis By Manufacturing Methods, 2023-2031 ($ Million)
39. Asia-Pacific Polyolefin Elastomers Market Research And Analysis By Application, 2023-2031 ($ Million)
40. Asia-Pacific Polyolefin Elastomers Market Research And Analysis By End-User, 2023-2031 ($ Million)
41. Rest Of The World Polyolefin Elastomers Market Research And Analysis By Region, 2023-2031 ($ Million)
42. Rest Of The World Polyolefin Elastomers Market Research And Analysis By Type, 2023-2031 ($ Million)
43. Rest Of The World Polyolefin Elastomers Market Research And Analysis By Manufacturing Methods, 2023-2031 ($ Million)
44. Rest Of The World Polyolefin Elastomers Market Research And Analysis By Application,2023-2031 ($ Million)
45. Rest Of The World Polyolefin Elastomers Market Research And Analysis By End-User, 2023-2031 ($ Million)
1. Global Polyolefin Elastomers Market Share By Type, 2023 Vs 2031 (%)
2. Global Polyethylene Polyolefin Elastomers Market Share By Region, 2023 Vs 2031 (%)
3. Global Polypropylene Polyolefin Elastomers Market Share By Region, 2023 Vs 2031 (%)
4. Global Ethylene Propylene Diene Monomer Polyolefin Elastomers Market Share By Region, 2023 Vs 2031 (%)
5. Global Polyolefin Elastomers Market Share By Manufacturing Methods, 2023 Vs 2031 (%)
6. Global Polyolefin Elastomers By Solution Polymerization Market Share By Region, 2023 Vs 2031 (%)
7. Global Polyolefin Elastomers By Suspension Polymerization Market Share By Region, 2023 Vs 2031 (%)
8. Global Polyolefin Elastomers By Gas-Phase Polymerization Market Share By Region, 2023 Vs 2031 (%)
9. Global Polyolefin Elastomers By Slurry Polymerization Market Share By Region, 2023 Vs 2031 (%)
10. Global Polyolefin Elastomers By Bulk Polymerization Market Share By Region, 2023 Vs 2031 (%)
11. Global Polyolefin Elastomers Market Share By Application, 2023 Vs 2031 (%)
12. Global Polyolefin Elastomers In Vehicle Market Share By Region, 2023 Vs 2031 (%)
13. Global Polyolefin Elastomers In Films & Sheets Market Share By Region, 2023 Vs 2031 (%)
14. Global Polyolefin Elastomers In Wires & Cables Market Share By Region, 2023 Vs 2031 (%)
15. Global Polyolefin Elastomers In Roofing & Flooring Market Share By Region, 2023 Vs 2031 (%)
16. Global Polyolefin Elastomers In Syringe Market Share By Region, 2023 Vs 2031 (%)
17. Global Polyolefin Elastomers In Other Application Market Share By Region, 2023 Vs 2031 (%)
18. Global Polyolefin Elastomers Market Share By End-User, 2023 Vs 2031 (%)
19. Global Polyolefin Elastomers For Automotive Industry Market Share By Region, 2023 Vs 2031 (%)
20. Global Polyolefin Elastomers For Packaging Industry Market Share By Region, 2023 Vs 2031 (%)
21. Global Polyolefin Elastomers For Construction Industry Market Share By Region, 2023 Vs 2031 (%)
22. Global Polyolefin Elastomers For Electrical & Electronics Industry Market Share By Region, 2023 Vs 2031 (%)
23. Global Polyolefin Elastomers For Healthcare & Medical Industry Market Share By Region, 2023 Vs 2031 (%)
24. Global Polyolefin Elastomers For Other End-User Market Share By Region, 2023 Vs 2031 (%)
25. Global Polyolefin Elastomers Market Share By Region, 2023 Vs 2031 (%)
26. US Polyolefin Elastomers Market Size, 2023-2031 ($ Million)
27. Canada Polyolefin Elastomers Market Size, 2023-2031 ($ Million)
28. UK Polyolefin Elastomers Market Size, 2023-2031 ($ Million)
29. France Polyolefin Elastomers Market Size, 2023-2031 ($ Million)
30. Germany Polyolefin Elastomers Market Size, 2023-2031 ($ Million)
31. Italy Polyolefin Elastomers Market Size, 2023-2031 ($ Million)
32. Spain Polyolefin Elastomers Market Size, 2023-2031 ($ Million)
33. Rest Of Europe Polyolefin Elastomers Market Size, 2023-2031 ($ Million)
34. India Polyolefin Elastomers Market Size, 2023-2031 ($ Million)
35. China Polyolefin Elastomers Market Size, 2023-2031 ($ Million)
36. Japan Polyolefin Elastomers Market Size, 2023-2031 ($ Million)
37. South Korea Polyolefin Elastomers Market Size, 2023-2031 ($ Million)
38. Rest Of Asia-Pacific Polyolefin Elastomers Market Size, 2023-2031 ($ Million)
39. Latin America Polyolefin Elastomers Market Size, 2023-2031 ($ Million)
40. Middle East And Africa Polyolefin Elastomers Market Size, 2023-2031 ($ Million)
