New York, Feb. 20, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Polyolefin Catalyst Market – Growth, Trends, and Forecast (2020 – 2025)” – https://www.reportlinker.com/p05865926/?utm_source=GNW
However, strict surveillance of phthalate-based catalyst is expected to hinder the growth of the market.
– The films segment dominated the market, and it is expected to grow during the forecast period.
– Consistent technological advancements catering to the increasing demand are likely to act as opportunities for the market, in the future.
– Asia-Pacific dominated the global market, with highest consumption from countries, such as China and India.
Key Market Trends
Film Segment Accounts for the Largest Share
– Films are manufactured by either cast film or blown film extrusion technology. In cast film extrusion, hot plastic is extruded through a flat, slit die onto a polished chill roll, where it is quenched, pulled to a second set of rolls to cool the other side, and then wound.
– In blown film extrusion, a tube of molten polymer is extruded through a die and inflated to several times its initial diameter, in order to form a thin film bubble. The resulting bubble is then collapsed, and used as a lay-flat film.
– Polyethylene (HDPE, LDPE, and LLDPE) is the major polymer, among the various polymers that are used in film extrusion. Other polyolefins that can be extruded as single-layer or multilayer films include ethylene copolymers and polypropylene.
– The packaging market has been slowly moving toward lightweight and transparent materials. This has resulted in a growing demand for polyolefin films, which offer these properties and are very economical.
– Gradually, PVC films are being replaced by polyolefin films, as they are safer for food packaging and durable under a wide temperature range. This industry has also experienced many innovations over the years, such as UV-blocking films, NIR-blocking films, fluorescent films, and ultra-thermic films, which have led to additional applications for polyolefin films.
– Polyolefin films are majorly used in industries, like packaging, agriculture, and construction. Continuous growth of these industries has made films the largest and fastest-growing segment under the application segmentation of the market.
– The major companies producing polyolefin films are Sealed Air Corporation, PMC Group Inc., Asmaco Industries Limited, Yorkshire Packaging Systems, and Vijay Packaging System, among others.
China – Largest and Fastest Growing Market in Asia-Pacific
– China is one of the fastest emerging economies, and has become one of the biggest production houses in the world.
– The Chinese manufacturing sector is one of the major contributors to the country’s economy. The range of Chinese goods includes cement, chemicals, textiles, toys, electronics, ships, rail cars, automobiles, and aircraft, among other products.
– Polyolefins, such as polyethylene and polypropylene, are widely used in the production of these products. Thus, China has become a significant location for the manufacturers and exporters of plastic products.
– Currently, China is a major producer and consumer of polyolefins, worldwide. The demand for polypropylene increased by 4.7% over the recent past.
– With the increasing demand for polyolefin, the country has witnessed expansion in its production capacity, in order to meet the domestic demand.
– For instance, Liaoning Bora Petrochemical is planning to set up three new polypropylene and polyethylene plants in China, for which, the company may use technology from the Netherlands-based chemicals company, LyondellBasell. The company is expected to adopt Spherizone and Spheripol PP process technologies and Hostalen ACP process technology for its high-density polyethylene (HDPE) unit, which is expected to hold PP and PE capacities of 600,000 metric ton and 350,000 metric ton, per year, respectively.
– Above mentioned factors are expected to drive the market in the country.
The polyolefin catalyst market is partially fragmented, and is dominated by very few players. Some of these major players include W.R. Grace & Co., LyondellBasell, Sinopec, Clariant AG, and Evonik Industries AG, among others.
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Read the full report: https://www.reportlinker.com/p05865926/?utm_source=GNW
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