North America Polyolefin Market - Segmented by Material Type, End-use Application, and Country - Growth, Trends, and Forecast (2018 – 2023)
The North America polyolefin market is expected to grow at a moderate rate during the forecast period, 2018 to 2023. US is estimated to lead the market owing to the growing demand from construction sector. Injection moulding is expected to be the largest end-use application market.
Abundant Availability of Natural Gas
Polyolefin are derived from crude oil and natural gas. However, due to abundant availability of natural gas in the North American region, it is majorly used as feedstock for the production of polyolefin. According to BP Plc., on the global level, the demand for natural gas is expected to grow strongly till 2040, due to broad-based demand, low-cost supply, and expanding export trade. Seamless flow of natural gas from supply basins to demand centers in North America supported by the ongoing increase in production of natural gas has increased the availability of feedstock for production of polyolefin. In addition, reduced drilling and capital expenditures, coupled with ongoing efficiency improvements and cost reduction initiatives have helped the natural gas production to grow. This, in turn, is estimated to increase the production of polyolefin in the region.
Injection Moulding End-use Application is Expected to Continue to Dominate the Market
Injection moulding end-use application is expected to continue to dominate the market during the forecast period. Parts manufactured using injection moulding are light in weight, have superior mechanical properties. Growing demand for high quality products from consumer products, electrical, and automotive industry has increased the consumption of parts manufactured using injection molding end-use application.
US to lead the market
US is projected to dominate the polyolefin market, during the forecast period, due to growing demand from construction sector. Increase in construction activity coupled with growing residential and commercial infrastructural projects has increased the consumption of polyolefin used in the construction industry.
Major Players: China Petrochemical Corporation, Lyondellbasell Industries Holdings N.V., Exxon Mobil Corporation, SABIC, DowDupont, and Braskem, amongst others.
Reasons to Purchase this Report
To understand the impact of end-use application on the market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating material type in the market
Countries expected to witness the fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet in excel
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