The Metallocene Polyolefin market is estimated to grow from US$7.89 bln in 2015 to US$14.05 bln by 2021, at a CAGR of 10.15%, as per a report published by Markets and Markets. The market is driven by the rising food and non-food packaging industry developments, increasing demand for injection molding application, and rise in technological advances in product portfolios of metallocene polyolefins.
Film & Sheet is the largest application segment of the metallocene polyolefin market. In 2015, the film & sheet application accounted for the largest market share, in terms of value, followed by injection molding and others. The injection molding application is estimated to grow at the highest CAGR, in terms of value between 2016 and 2021. The high growth can be attributed to the growing demand for injection molded plastics in packaging and automobile industries. Enhanced clarity and reductions in both initial seal temperature and crystal structure create many advantages for packaging industries. These factors have triggered the demand for metallocene polyolefins and positively influenced the growth of the Metallocene Polyolefin Market worldwide.
Asia-Pacific is currently the largest market for metallocene polyolefin. China is the largest while India the fastest-growing market for metallocene polyolefin in the region. The following factors are the main driving forces for the metallocene polyolefin market in Asia-Pacific:
- High demand for metallocene polyolefin in the region
- Growing food packaging industry
- Growing demand for resins with superior mechanical properties in countries such as China and India