According to ChemAnalyst report, “Global Polyolefin Elastomers (POE) Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, 2015-2035”, The Polyolefin Elastomer (POE) market is expected to reach approximately 2900 thousand tonnes in 2035 at an impressive CAGR of 6.42%. The Polyolefin Elastomer (POE) market is anticipated to expand throughout the projected period with the demands from the automotive, foam, wire & cable, household goods, packaging, and others end-use sectors.
POEs possess excellent properties like durability, low density, and mechanical qualities make POEs unique in the market. These resins can be used to produce soft and flexible moulded or extruded objects. They are frequently utilised in applications in which they increase the flexibility of compounds made from polypropylene or polyethylene. They are one of the most widely used materials in footwear, adhesives, foams, cable and wire coatings, films, healthcare equipment, and components of vehicles. It is also used to prepare pouches specifically for the packaging of food and beverages as well as seals, closures, liners, and flexible bags.
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The primary factor driving the Polyolefin Elastomer (POE) market is the automotive and foam industry. In 2021, the automotive industry consumed approximately 50% of the global Polyolefin Elastomer (POE) market and is expected to dominate the market in the forecast period. Polyolefin elastomers are ideal for making automobile components like vehicle exteriors and interiors. Plus, its properties like ease to mix with other polymers and protective nature against harsh chemicals gain the interest of chemical manufacturers.
The Polyolefin Elastomer (POE) market is segregated based on end-use, sales channel, and region. Based on demand by region, Asia Pacific was the dominant region for the consumption of Polyolefin Elastomer (POE) in 2021 and is anticipated to maintain this position in the forecast time of 2035 with a CAGR of 6.6%. In 2021, The second largest consumer of Polyolefin Elastomer (POE) was North America and is expected to maintain its position in the forecast period.
Based on end-uses, the Polyolefin Elastomer (POE) market is segregated automotive, foam, wire & cable, household goods, packaging, and others end-use sectors and others. The highest demand for Polyolefin Elastomer (POE) is by the Automotive industry, and it is anticipated to stay the biggest shareholder in the coming decade with a CAGR of 6.53%. The foam sector, which is expected to expand with a CAGR of roughly 6.59% by 2035F, is another major consumer of POE.
“Global Polyolefin Elastomers (POE) Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, 2015-2035”, the significant players functional in the Global Polyolefin Elastomer (POE) are LG Chem, Dow Chemical Company SCG-Dow Group, Mitsui Elastomers Singapore Pte Ltd, Exxon Mobil Corp. Ltd, SABIC SK Nexlene Company (SSNC), and others.
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“The rapidly increasing demand for durable and lightweight material for automotive parts is expected to result in the expansion of the Polyolefin Elastomer (POE) market in the forecast period until 2035. Consistently growing demand for Polyolefin Elastomer (POE) due to its due to its hardness, low density, and mechanical properties makes it a perfect pick for manufacturing goods like foam, vehicle parts, cables, and coatings. Plus, Polyolefin Elastomer (POE) can be utilized for improving the flexibility of other plastics like polypropylene or polyethylene. “said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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