Polyolefins market consumption estimated at 169,892.4 Kilotons by 2018

10-Sep-13

The Asia-Pacific market is anticipated to be a leader for polyolefins with respect to demand. The region has the presence of most global leaders in polyolefins manufacturing. As per Markets and Markets, polyolefins consumption in the region is estimated to grow at a CAGR of about 6.2% from 2013 to 2018. The region has a relatively high growth rate as a result of its continuously increasing demand. The demand in the region is mainly due to the increasing appetite for polyolefins in China. The Middle East, being the second fastest growing Polyolefins Market world-over, is estimated to grow at a CAGR of 5.5% for the next five years. Middle East is witnessing high industrial growth which hints at an increasing demand for polyolefins for its diverse applications. Saudi Arabia dominates the polyolefins market in the Middle East being a major consumer and the fastest growing country in terms of polyolefins production. Currently, a high share of polyolefins is consumed by the film & sheet industry and the demand for polyolefins through film & sheet industry is expected to grow in next five years at a CAGR of more than 4.7% from 2013 to 2018. Other Middle East countries are also showing increasing growth in demand for polyolefins. Moreover, polyolefin manufacturers from Middle Eastern countries are putting vigorous efforts for developing a strong base of polyolefins market, with a target of rising polyolefins exports.