30-May-17 Global polyolefins market has observed a very broad market in coming recent years. Packaging and automotive are about to grow near US$160 billion by the year 2023 which means more demand for these industries and in turn for polyolefins, as per Market Research Future. Another driver for polyolefins market is growing Asia-Pacific market. The polyolefins market is majorly driven by its growing consumption in FMCG and consumer good; however, it has created a global platform for the manufacturers to expand and to increase the production capacity to meet current as well as forecast demand. eographically, Asia-Pacific holds the healthy market share in terms of value and volume, which direct implies, the demand coming from China, India, Japan, Taiwan, Malaysia and other countries positively affecting the growing of polyolefins market.
Highlights include:
• The APAC region is the largest consumer of polyolefins such as polyethylene and polypropylene in the world which has accounted around 47% of market in 2016. Within this region, the polyolefins market is wholly dominated by China which represents 45% of the total market volume in 2016.
• China is the one of the largest economy in the world and is still growing at a rapid pace. China is making deliberate efforts to boost various industries including packaging, consumer good, retail, automotive, automotive and consumer products
• Demand for PP and PE from India accounted for 19% of the total demand, hence, the Indian market will come up with ample growth opportunities owing to the investments, big giants entering into Indian market and strong dominance of domestic players with respect to production, while Japan represents 23% of the market in terms of volume. Because of its strong, growing middle class, the entire region is a significant market for end markets that use polyolefins, including packaging, consumer goods and FMCG and textile
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