According to the research report titled ‘Polyolefins Market Share, Size, Trends, Industry Analysis Report By Feedstock, By Application, By Regions, Segments & Forecast, 2019 – 2026’, available with Market Study Report, global polyolefins market is likely to be appraised at USD 447 billion by the year 2026, recording a 6.2% CAGR during the study duration.
 

Advancements in plastic technologies, advent of affordable automotive indoor components, and strict environmental regulations are some of the key factors driving the growth of global polyolefins market. Increasing utilization of polyethylene and polypropylene across several applications along with flourishing consumer goods and meals packaging sector are aiding towards the market expansion.
 

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Increasing infrastructural development, surging disposable income and growing per capita intake are also fueling the overall market size. Changing consumer lifestyle and improving economic conditions are also facilitating the business scenario. However, strict regulatory outlook could potentially hinder global polyolefins market expansion.
 

In terms of feedstock, global polyolefins market share from polyethylene segment is predicted to expand significantly during the study period. The product is known to offer high tensile strength and impact resistance, and hence is widely adopted in packaging industry. Moreover, polyethylene can be heated to its melting point multiple times without hampering its quality or strength, and hence is fueling the segmental share.
 

Asia-Pacific, based on regional analysis, is likely to emerge as a major revenue contributor to global polyolefins market. Growing population in Indonesia, India, and China, and increasing number of construction activities are favoring the regional market outlook.
 

The prominent companies operating in global polyolefins market are Chevron Phillips Chemical Company LLC, Akzo Nobel N.V., Huntsman Corporation, China Petroleum & Chemical Corporation, LyondellBasell Industries N.V., Total SE, Royal Dutch Shell plc, DuPont de Nemours Inc., and ExxonMobil Chemical Company among others.