Polyolefin Elastomer Market hit $3,684.3 million by 2030, growing at a CAGR of 7.8%: Report by Coherent Market Insights

Polyolefin Elastomers (POEs) are a type of thermoplastic elastomer that exhibit properties of both rubber and plastic. They are part of the polyolefin family, which includes polymers like polyethylene and polypropylene. POEs are known for their excellent elasticity, impact resistance, and flexibility, even at low temperatures.

Burlingame, Nov. 15, 2023 (GLOBE NEWSWIRE) — The global Polyolefin Elastomer Market size is projected to grow from $2,026.2 million in 2022 to $3,684.3 million by 2030 at a Compound Annual Growth Rate (CAGR) of 7.8% during the forecast period, according to a new report by Coherent Market Insights. Polyolefin Elastomer Market, By Application (Packaging, Automotive, Polymer Modification, Wires & Cables, Medical, and Others). The demand for polyolefin elastomer is increasing across various end-use industries, which includes automotive, medical, and electrical among various others. This is further driving the growth of global polyolefin elastomer market.

Polyolefin Elastomers (POE) are a synthetic material with rubber structure and elastic properties. These properties are derived from ethylene and polyethylene copolymers. POEs are widely utilized in various industries such as packaging, automotive, and wire and cable insulation due to their durability, flexibility, and chemical resistance to provide a balance of softness and toughness.

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Market News / Recent Developments:

In February 2020, Dow Packaging and Specialty Plastics made addition of bio-based Affinity RE to its high-performance Affinity GA polyolefin elastomers. Henkel’s Technomelt brand, with Affinity RE will reduce the carbon footprint in its new Supra Eco hot melt adhesives line.

In December 2021, Geon Performance Solutions acquired Roscom Inc., an ISO 9001:2015-certified PVC compounding factory in Pennsylvania.

Market Trends

The growing demand for polyolefin elastomers in packaging industry is a major trend in the global polyolefin elastomer market. Among other application segments, packaging segment is gaining traction in the global market. According to the Coherent Market Insights, the segment accounted for a 52.0% share in the market. These elastomers are utilized as a main ingredient in molded flexible foam technology like armrests, fabrication of spa pillow, self-skinned footwear, seat cushions, and others.

Polyolefin Elastomer Market Report Coverage

Report Coverage Details
 Forecast Period  2023 to 2030
 Forecast Period 2023 to 2030 CAGR 7.8% 
 Market Size in 2023 $2,026.2 million  
 2030 Value Projection $3,684.3million  
 Base Year 2022
 Historical Data for 2017 to 2021
 Segments covered  By Application: Packaging, Automotive, Polymer Modification, Wires & Cables, Medical, and Others

 Growth Drivers   Increasing demand for polyolefin elastomers in the packaging industry 

Soaring demand for polyolefin elastomers in the medical industry

Industry Overview

The global polyolefin elastomer market is projected to show major growth in the near future due to driving factors such as rise in demand for polyolefin elastomers in the packaging industry. However, side effects of these elastomers on the environment such as soil and air pollution is a major factor expected to hinder growth of the market. Furthermore, the growing application of polyolefin elastomers in adhesives and sealants is anticipated to generate growth opportunities in the global polyolefin elastomer market.

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Analysts’ Views

The global polyolefin elastomer market is regionally segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Among the regions, Asia Pacific is anticipated to show substantial growth in the market over the coming future. Moreover, the market is further segmented into, By Application: Packaging, Automotive, Polymer Modification, Wires & Cables, Medical, and Others.

Competitive Landscape

SK Global Chemical Co., Ltd., Mitsui Chemical, Inc., Borealis AG, LG Chem Ltd., Tricon Energy Inc., RTP Company, Inc., Dalmia Polymers LLP, DowDuPont Inc., Siloxane Aggrandize Innovative Industries, and PolyOne Corporation.

Detailed Segmentation:

  • Global Polyolefin Elastomer Market, By Application:
    • Packaging
    • Automotive
    • Polymer Modification
    • Wires and Cables
    • Medical
    • Others
  • Global Polyolefin Elastomer Market, By Region
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • Italy
      • U.K.
      • France
      • Spain
      • Russia
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • Australia
      • India
      • ASEAN
      • South Korea
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
    • Middle East & Africa
      • GCC Countries
      • Israel
      • South Africa
      • Rest of Middle East & Africa

Read complete market research report, “Polyolefin Elastomer Market, By Application (Packaging, Automotive, Polymer Modification, Wires & Cables, Medical, and Others), By Region and Segment Forecast 2023 – 2030“, Published by Coherent Market Insights.

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About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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