Market Overview
Market Research Future (MRFR) expects the polyolefin powders market’s growth to be optimistic during the forecast period (2020-2027), following an exhaustive analysis of the latest trends across the globe.
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Market Drivers and Key Restraints
The polyolefin powders market is majorly influenced by the product’s use in a variety of end-use industries such as tanks & containers, toys, paints & coatings, automotive & transportation, building & construction, batteries, cosmetics, and others. The market will also benefit from the strong demand for polyolefin powders from rotomolding applications in toys, tanks & containers industry, along with BMC, carpet and SMC applications of the automotive industry.
The product demand noted in the rotomolding application in paints & coatings along with automotive & transportation industries is high, particularly in India, China, and Brazil. With the rise in technologies and innovations, the demand for polyolefin powder across the mentioned industries will get a significant boost in the near future.
Various grades of polyolefin powders observe considerable demand across various industries as they possess exceptional properties that vary as per the application requirements. These properties are categorized on the basis of their chemistry, such as polypropylene, EVA, and polyethylene. Polyolefin powders refer to thermoplastic powder, and the market is growing backed by its demand from numerous applications like masterbatch and rotomolding. Having said that, the market development rate could slow down on account of government regulations across the globe.
Renowned Players
Some of the well-known vendors shaping the global polyolefin powders market include SABIC (Saudi Arabia), Merck KGaA (Germany), Eastman Chemical Company (US), Axalta Coating Systems (US), Borealis AG (Austria), LyondellBasell Industries Holdings BV (Netherlands), Exxon Mobil Corporation (US), Sumitomo Seika Chemicals Co., Ltd (Japan), Mitsui Chemicals, Inc. (Japan), Asahi Kasei Corporation (Japan), Wacker Chemie AG (Germany), INEOS (UK), and others.
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Market Segmentation
The polyolefin powders market has been segmented based on type, application, and end-use industry.
Type-wise, the polyolefin powders market has been segmented into polypropylene (PP), polyethylene (PE), and ethylene-vinyl acetate (EVA). Among these, the PE segment covers the maximum share of the market, owing to the extensive demand for PE powder in rotomolding. This product offers excellent wrap resistance, high flexibility, cost-effectiveness and consistent shrinkage. Moreover, stabilization additives are not required for PE powder to be thermally stable and have the ability to be molded by high-speed, high temperature rotational molding equipment without strong oxidation.
With respect to application, the market is considered for rotomolding, masterbatches, SMC, BMC, dusting agents, sintering agents, binding agents, carpet applications, and others. Rotomolding helps in manufacturing toys, tanks and containers, leisure products and industrial products like blower housing, water filtration systems and recycling units. In addition, they are used for manufacturing transportation products including tractor dashboards, diesel fuel tanks, instrument panels, ducting, wheel arches as well as medical products like casing for medical specimens, stretchers, masks and facial oxygen.
The market, based on end-use industry, can be broken down into electronics, food packaging, construction, automotive, textiles, medical, and others. The automotive segment can expect the highest growth owing to the extensive use of polymeric compounds in manufacture of automobiles. The demand for fuel-efficient and lightweight automobiles to abide with the strict regulations for volatile organic compound (VOC) emissions has led to a surge in use of plastic materials in automobiles. Furthermore, the construction segment is presumed to be the second-biggest segment on account of the rapid industrialization around the world.
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Regional Insight
The key regions in the global polyolefin powders market include Asia Pacific, Europe, Latin America, the Middle East & Africa, and North America.
In 2017, Asia Pacific secured the top position in the global polyolefin powders market, backed by strong demand for the product in significant end-use industries. The speedy rate of industrialization in the developing nations like India and China and India will add to the strength of the regional market, by lifting the product demand in different applications.
Bagging the second position in the global market in 2017, North America has proved to be a strong contender with the growing demand for polyolefin powders in automotive, food packaging, aerospace, construction, and electronics industries. The market is also driven by the region’s high economic growth along with massive investments in industries.
The Europe market for polyolefin powders is estimated to have a significant growth in the subsequent years, based on the mounting production and sales of automotive parts. Also, industrialization, coupled with the hike in purchasing power of consumers in the region, will serve excellent growth opportunities to the market during the conjectured time frame.
The market in Latin America is poised to make similar strides in the global market, with the considerable growth in the region being the result of the expanding automotive industry in Argentina and Brazil.
Lastly, the Middle East & Africa is projected to hold its own in the global space with the presence of several infrastructure hubs within the region.
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