Global polyolefin market estimated to cross US$297 bln by 2021

05-Oct-16

The global polyolefin market is projected to reach US$297.09 bln by 2021, at a CAGR of 7.82% between 2016 and 2021, as per Research and Markets . Polyethylene (PE) type accounted for more than 50% of the overall PO market, in terms of volume, in 2015. PE is the most widely used polymer in the plastic industry owing to its easy availability and cheaper processing techniques in comparison to other polymers. Injection molding is projected to the fastest-growing application of PE, between 2016 and 2021. Injection molding processes provide numerous advantages in achieving faster production rate, desired size and shape, and reducing wastage. The growing packaging sector is accelerating the demand for injection molding in the plastic industry, thus boosting the overall PE market.