(I-BusinessNews.Com, October 17, 2021 ) Polyolefin Powders Market size is forecast to reach $10.2 billion by 2026, after growing at a CAGR of 5.1% during 2021-2026. Polyolefins like linear low-density polyethylene, and Ethylene Vinyl Acetate powder with high bulk density are macromolecules produced from oil and natural gas and are a family of polyethylene and polypropylene thermoplastics. They are used in a variety of applications for their low weight, high chemical resistance, flexibility, and low cost. Increased use of Polyolefin Powder in agricultural film or sheet for thermal insulation is driving the market. Moreover, Polyolefin Powders with high bulk density are used in coatings due to their chemical resistance and excellent adhesion properties are also driving the growth of the market. Furthermore, the growing trend for online, ready-to-eat food and packaging are driving the demand for packaging, which is also fueling the demand for Polyolefin Powders Market.
Emergence of the COVID-19
The COVID-19 pandemic continues to unfold every day with a severe impact on people, communities, and businesses. The pandemic has hindered the Polyolefin Powders Market growth. The pandemic forced businesses to shut down their operations, further decline the demand for polyolefin powders. Moreover, major end-use industries for polyolefin powders are facing a sluggish growth like aerospace & defense and paint & coating industry. Thus, the decline in the end-use industry growth further hampers the Polyolefin Powders Market growth.
Polyolefin Powders Market Segment Analysis – By Material
Polyethylene segment held the largest share of more than 40% in the Polyolefin Powders Market in 2020. Polyethylene with a high bulk density like linear low-density polyethylene and HDPE are lightweight and durable thermoplastic with a variable crystalline structure along with one of the most widely used polymers in the world. Polyethylene powder is used as an additive to unsaturated polyesters, epoxides, and other polymers to add the novel properties of ultra-high-molecular-weight polyethylene. Polyethylene powder is widely used for manufacturing various containers, trays, dispensing bottles, plastic wraps & bags, and various molded laboratory equipment. Polyethylene powders are also used in applications ranging from films, tubes, plastic parts, packaging, and laminates. Therefore, due to such properties and wide application, there is a high demand for polyethylene powder in the Polyolefin Powders Market.
Polyolefin Powders Market Segment Analysis – By Application
Film Application segment held the largest share of more than 35% in the Polyolefin Powder Market in 2020. Polyolefin powder is used in producing plastic films for agricultural, construction, industrial, and packaging. Polyolefin films are used in different applications for their excellent transparency, enhanced machinability & heat resistance properties. Polyolefin films based on the linear low-density polyethylene, and Ethylene Vinyl Acetate powder have the ability to shrink quickly & completely, they are highly durable, zero toxic, and have excellent stability with low cost. Polyolefin films on high bulk density are used to prevent seepage in canals, ponds, and reservoirs along with also used in the construction of building as vapor retarders, window films, and flooring & countertop protection. The growing urbanization drives the demand for residential buildings, which will likely drive the demand for film application and in return fuel the growth of the polyolefin powder market.
Polyolefin Powders Market Segment Analysis – By End-Use Industry
Packaging segment held the largest share of more than 40% in the Polyolefin Powder Market in 2020. Polyolefin powder is most commonly used in the packaging material. Polyolefins are used in food packaging, medical devices & drugs packaging, electronic packaging, and others. Polyolefin products based on linear low-density polyethylene, and Ethylene Vinyl Acetate powder provides excellent chemical resistance, has high-temperature performance, recyclability, transparency, high strength, high bulk density, and durability. In Food Packaging, polyolefins protect food products from unfavorable conditions, such as vapors, microorganisms, physical damage, and dust during distribution and storage. Therefore, an increase in demand for the food & beverage industry will increase the demand for food packaging, which in return will boost the Polyolefin Powder Market. As per the Indian Brand Equity Foundation (IBEF) report in 2017, the Indian food industry was valued at $ 39.71 billion in 2017 and expected to grow at a CAGR of 11% to reach $ 65.4 billion in 2018. Therefore, an increase in the food industry will increase the need for food packaging and further fuel the demand for the Polyolefin Powder Market.
Polyolefin Powders Market Segment Analysis – By Geography
Asia-Pacific held the largest share of more than 45% in the Polyolefin Powders market in 2020. China, India, Japan, and Vietnam is dominating the market in the region. Polyolefin Powders are used for their excellent strength, durability, and lightweight for manufacturing construction, automobile, and electronic components. Polyolefin is used in pipe & fittings, paints, and coating for building to protect the structure from corrosion. Moreover, polyolefin-based heat shrink tubes are used in the protection of wires and new electronic components. Thus, the growing building and construction, automotive, and consumer electronics industry further drives the market growth in the APAC region. As per the Indian Brand Equity Foundation (IBEF) report in 2020, the Indian consumer electronic industry was $10.93 billion and is expected to reach $21.18 billion in 2025, which is showing significant growth of consumer electronics in the country. Furthermore, the availability of cheap labor and a huge consumer base has pushed many manufacturers to set up plants in the APAC region, which is also driving the growth of the Polyolefin Powders market in the region.
Growing Medical/Biomedical Industry Driving the Markets Growth
Polyolefins like linear low-density polyethylene, and Ethylene Vinyl Acetate powder are playing a vital role in manufacturing biomedical devices. The use of polyolefins in the biomedical field has grown significantly, mainly due to their biocompatible nature. Polyolefins are used in the manufacturing of medical applications like dilators, bone substitutes, control drug delivery devices, introducers, and tissue adhesives. Moreover, Polyolefins are also widely used in medical devices such as syringes, MDPIs, or nasal sprays, and devices involved in the operation from bowls & handles to IOL components. Furthermore, polyolefins with high bulk density also provide design flexibility while manufacturing the product, sterility, and integrity. Thus, the growth in the medical industry further drives the market growth. For instance, as per the SelectUSA report, the United States medical device market was estimated to be $156 billion in 2017 and is expected to reach up to $208 billion in 2023. Therefore, an increase in demand for medical devices will raise the demand for the polyolefin powder market.
Increase Use of Polyolefin in 3D Printing
3D-printing is a booming business due to the new innovative printing techniques and materials are being developed across various end-use industry applications. In 3D printing, typically plastic and plastic waste is used as a material. Polyolefin is ideal for manufacturing based on its recyclability, impact strength, chemical resistance, and dimensional stability. Furthermore, the basic properties of polyolefins can be modified with a broad range of chemical modifiers. Polyolefin films produced from linear low-density polyethylene and Ethylene Vinyl Acetate powder can be coextruded with various other polymers, which make polyolefin an attractive material for 3D printing applications. Therefore, an increase in the 3D printing industry will drive the polyolefin powder market. For instance, as per the 3D hubs report, a private company, the 3D printing industry is set to grow between 18.2 – 27.2 percent in 2019. Whereas, North America and Europe are dominating the 3D market with 49.4% and 41% respectively. Thus, the growth in the 3D printing industry further drives the market growth.
Polyolefin Powders Market Challenges
Volatile Raw Material Prices and Growing Environment Concerns
Polyolefins are derived from natural gas or from low-molecular-weight constituents of petroleum, and their most prominent members are ethylene and propylene. So, any fluctuation in the prices of crude oil or natural gas will hinder the market’s growth. For example, fluctuation in the price of crude oil from 2015-2020, due to trade war between US-China and other geopolitical issues in the ME&A region further impact the prices of Polyolefins and in return hindered the market growth. Furthermore, growing awareness regarding the negative effect of plastic waste to the environment is also hindering the market’s growth. Furthermore, the extent of plastic pollution has triggered a concern against the environment, which has hindered the polyolefins powder market growth.
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Polyolefin Powders Market report. Major players in the Polyolefin Powders Market are Sumitomo Seika Chemicals Co. Ltd., Asahi Kasei Corp., Dairen Chemical Corp., Exxon Mobil Corp., Ineos AG, LyondellBasell Industries Holdings B.V., Saudi Basic Industries Corp., Borealis AG, Eastman Chemical Co., Wacker Chemie AG, Merck KGaA, Braskem S.A., and Micro Powders Inc., among others.
In May 2020, Braskem S.A., launched a new polypropylene (PP) powder for Selective Laser Sintering (SLS) industrial 3D printing. With this launch Braskem increased its product portfolio for the 3D print industry, which will further, drive the Polyolefin Market Growth.
In April 2019, Saudi Basic Industries Corp. launched a new anti-abrasive polyolefin compound ‘SABIC P1600A’ for mining industries. With this new launch, SABIC enhanced its product offering, which will further drive the market’s growth.
Europe region is projected to witness significant growth in the market due to the growing paint & coatings and automobile industry. Whereas, Germany held the largest share in the region throughout the forecast period.
Environmental concerns regarding small plastic beads are hindering the polyolefin powder markets growth.
COVID-19 has hindered the market growth for the Polyolefin powder Market, due to the decline growth in the automobile, aerospace, and construction industry.
For more Chemicals and Materials Market reports, please click here
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to email@example.com to discuss more about our consulting services.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Industry resource center today to browse our selection of 600+ complimentary Industry magazines, white papers, webinars, podcasts, and more. Get popular titles including: