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Polyolefin Catalyst Market to gain remarkable traction from packaging and medical applications

Author : Ronak Bora | Published Date : 2019-04-08 

The demand for Global polyolefin catalyst market is anticipated to be high for the next five years. By considering this demand we provide latest industry report which gives complete industry analysis, market outlook, size, growth and forecast till 2024. This report will assist in analyzing the current and future business trends, sales and revenue forecasts.

Polyolefin Catalyst Market size shall witness a healthy growth in forecast period with application in automotive, coatings, construction, packaging and medical industry. After the shale oil and gas boom, the availability of raw material has increased that has reduced its cost. Further, low raw material price has decreased the overall cost of product. Packaging industry is growing at a CAGR of around 3.5% that has increased the product consumption. Positive outlook of packaging industry is expected to propel the polyolefin catalyst market.

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Demand for consumer goods has increased with rapid economic growth in emerging economies and technological innovation that has enhanced the demand for plastic films, packaged goods and building materials. There has been technological advancement in refinery sector like high severity fluid catalytic cracking unit (HS-FCC) that has increased its yield by 27-28% after combining with olefin conversion unit (OCU) and by approximately five times when combined with fluid catalytic cracking (FCC). These factors are expected to further boost polyolefin catalyst market.

On the basis of type, polyolefin catalyst market is classified into Ziegler Natta (chrome on silica), metallocene (single site) and peroxide initiators. Ziegler Natta has major share as it is affordable and can be easily controlled for production of thermoplastic polyolefin like polypropylene.

Polypropylene industry is growing at a CAGR around 5.5% in the forecast period that has increased the product demand. Metallocene types are mainly used for custom designed products and provide better impact strength and toughness. These find application for value added and high price polymers.

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Based on end-use industries, polyolefin catalyst market is segmented into automobile, coatings, construction, packaging and pharmaceutical. Automobile has considerable share with its use for manufacturing of auto parts like bumpers, seats, lighting and dashboard. The segment is growing with a healthy CAGR and is driving the product growth.

North America has significant share and witnessing a growth with booming shale oil production. U.S. chemical companies like DOW chemicals are preparing to increase their production capacity by 30% due to low raw material cost.

Prominent players of polyolefin catalyst market are AkzoNobel, Lyondell Basell, BASF, Univation, Toho, Univation Technology, Sinopec, W.R. Grace Chemicals, Albemarle and Mitsui Chemicals. Companies are indulged in merger and acquisition strategy to increase their market share. For instance, W.R. Grace chemicals acquired polyolefin chemical business from BASF, a leading supplier of process catalyst.

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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