Polyolefin Market Size, Share & Trends Analysis By Product Type (PE, PP, Ethylene Vinyl Acetate, Thermoplastic Olefin), By Application (Film & Sheet, Injection Molding, Blow Molding, Profile Extrusion), And Segment Forecasts, 2018 - 2025

Multinational companies in the field are constantly improvising their product portfolio to meet existing demand from numerous application sectors, such as film and sheet and injection molding, which is projected to drive industry growth.

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There has been a rise in usage of eco-friendly polyolefins that cause lower emissions and ensure minimal environment degradation. This can be attributed to growing consumer awareness regarding environment protection, an increase in efforts to curb plastic waste disposal, and stringent government regulations. Apart from compliance to environmental norms, companies are investing in extensive R&D activities, which has prompted the development of novel plastic products that outperform conventional plastics in terms of physical and chemical properties.

Rapid industrialization across Asia Pacific has resulted in significant growth of the plastics market. Growth of the e-commerce industry, rise in purchasing power of individuals, shift in consumption traits, and technical advancements by companies working with polyolefins have ensured development of diverse, complex, and eco-friendly products.

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The polyethylene market in Asia Pacific is largely dominated by China, India, and Japan on account of surge in industrialization. Expanding construction and furniture sectors, along with presence of major automotive industries and increasing demand for sophisticated infrastructure, have driven the polyethylene industry in the region.