The growth of the polyolefin catalyst market is driven by rising demand from major end-use industries together with favorable trends in crude oil prices, says this report.
SELBYVILLE, Del. – February 3, 2020 – (Newswire.com)
According to the report published by Global Market Insights, Inc., the global polyolefin catalyst market was valued at $2.1 billion in 2018 and is anticipated to hit $3.1 billion by 2026, registering a CAGR of 4.8% from 2019 to 2026. The report provides a detailed evaluation of the market size & estimations, top winning strategies, key investment pockets, drivers & opportunities, wavering market trends, and competitive scenario.
The demand for packaged goods has increased owing to the rising urbanization in combination with the growing global economies. Packaging plays an important role as it is a part and parcel of home delivery, significantly impacting logistics as well as customer satisfaction. As per the Tetra Pak Index, the internet is boosting online grocery shopping and revolutionizing the grocery trade, taking a greater share of the food retail sector.
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Key reasons for polyolefin catalyst market growth:
- Rising consumer spending trends and surging disposable income levels in developing nations.
- The growing need for replacing heavy parts with lightweight materials in aerospace and automotive applications.
- Developments in the biomedical industry that would create new potential uses of polyolefin components.
2026 forecasts show growing consumption across various industries with infrastructure & construction leading the charge:
Based on the classification, polypropylene and polyethylene plastics are majorly consumed by industries like packaging, infrastructure & construction, medical, agriculture, automotive, construction, electrical & electronics, and pharmaceutical.
Increasing construction spending together with rising infrastructural investments and government infrastructure projects are anticipated to fuel the growth of the polyolefin catalyst market over the projected time period.
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North America to continue the supply of crude oil reserves:
Based on geography, the North American region has an ample supply of polyolefins due to the region’s abundant crude oil reserves. Several U.S.-based manufacturers are expanding their polyolefin production capacities. Simultaneously, the Asia Pacific region has gained wide popularity in recent times. The growing oil and gas activities along with enormous growth in the regional end-user sector has positively impacted the polyolefin catalyst industry.
Leading market players:
Leading players analyzed in the global polyolefin catalyst market include LyondellBasell Industries NV, ExxonMobil and The Dow Inc., and others. These players are primarily involved in different strategies such as mergers & acquisitions, partnerships, collaborations, new product launches, and others to gain a strong position in the global industry.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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Polyolefin Catalyst Market is Likely to Reach $3.1 Billion by 2026, Says Global Market Insights Inc.
