Global Polyolefin Catalyst Market
The global polyolefin catalyst market is expected to value USD 2,012.04 million in 2018. It is likely to reach USD 2,585.4 million by 2023, growing at a CAGR of 5.14% during the forecast period of 2018-2023.
Polyolefins (polypropylene and polyethylene, PP/PE) products have grown in popularity to become an industry with an annual installed capacity of about 187 million metric tons. Polyolefins are mainly produced by using three methods: conventional catalysts - Ziegler-Natta, or chrome on silica; metallocene or other single-site catalysts. The catalyst represents the main part of any reactor system and can significantly change the competitiveness of a process technology. In order to ensure a higher likelihood of success, a few after-market catalyst suppliers have entered into joint development agreements to integrate the new catalyst into the process.
This market is driven by a number of factors, such as expansion pof polymer resin production and increasing refinery market output Asia-Pacific, Middle-East & Africa. However, this market faces certain drawbacks, such as fluctuating prices of raw material and strict surveillance of phthalate-based catalyst.. These drawbacks may act as a roadblock to the growth of the market.
The market has been segmented on the basis of classification, catalysts and application. On th basis of classification, the market is segmented into polypropylene and polyethylene. The polyethylene segment dominates the market with ~60% share. Polypropylene segment is the fastest growing segment with a CAGR of ~5.6% during the forecast period. By catalyst, Zeigler Natta dominates the market with ~67% share followed by chromium and single site catalyst. Single site catalyst is the fastest growing segment with a CAGR of ~6% during the forecast period.
On the basis of application, the market is segmented into injection molding, blow molding, film, fiber and others (foams, radar coolant, tubing, etc.). Films application dominates the market with ~37% share followed by injection molding and fiberapplications. Films application is also the fastest growing application with a CAGR of ~5.8% during the forecast period.
Currently, Asia-Pacific is the largest market for polyolefin catalysts, with ~49% of the global market. The region has huge installed plant capacities of polyolefin catalysts. The market is emerging in various countries like China, South Korea, India, etc. due to increasing industrial activity. In addition, a large number of emerging manufacturers from Asia-Pacific are expected to reduce import dependency and thus drive the market towards growth in future. China is experiencing the highest demand for polyolefin catalyst globally, primarily due to increase in its industrial growth. Middle-East & African region is the fastest growing region with a CAGR of ~6% during the forecast period.
Some of the main companies offering polypropylene catalysts products are as follows –
Mitsui & Co. Ltd.
Some of the main companies providing polyethylene catalyst products are as follows –
NOTABLE DEVELOPMENTS IN THE MARKET
Sep 2017 - Grace licensed its Unipol PP process technology and services to Ningxia Baofeng Energy Group in China.
Jul 2017 - NOVA Chemicals Corporation announced the completion of its previously announced acquisition of Williams Partners LP
Key Deliverables in the Study:
Market analysis for the global Polyolefin Catalyst market, with region specific assessments and competition analysis on global scale
Market definition along with the identification of factors instrumental in changing the market scenarios and prospective opportunities
Extensively researched competitive landscape section with profiles of major companies along with their market shares
Identification and analysis of the macro and micro factors that affect the global Polyolefin Catalyst market on global scale
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.