Polyolefin elastomer is referred to as a group of polymers derived from olefin monomer. This material act as a thermoplastic which is easy to mold in any shape and it can be reshaped also. In addition, it provides lightweight materials with excellent flexibility, durability, and resistance to solvents, chemicals, moisture, and other factors. These elastomers have an advantage regarding sealing temperature across the rigid and packaging industry. In addition, the increase in applications of polyolefin elastomers in adhesives, consumer goods, automotive, molded rubber goods, footwear, pipes, and hoses is likely to accelerate the global polyolefin elastomer market growth during the forecast timeline. Moreover, polyolefin elastomer offer applications in flexible foams in sandal, footwear, and others due to its characteristics including softness, lightweight, and resiliency.

Market Dynamics     

Growing demand for polyolefin elastomer in the medical industry

There is a rise in demand for medical devices including tubes, catheters, masks, surgical equipment, and others across the globe. Polyolefin elastomers offer several properties such as easy blending with other polymers, excellent impact resistance, high sterilization, resistance to harsh chemicals, and easy blending with other polymers are projected to boost the product demand in the medical industry. In addition, polyolefin elastomers are soft and thus used on the patient’s skin.

Soaring demand for polyolefin across the automotive industry

Polyolefin elastomers are used in cable insulation, wheel covers, carpet fibers, bumpers, interior wrapping, and chemical tanks across the automotive industry. In addition, it reduces the weight of the vehicle and enhances fuel efficiency. For instance, according to Global Sales Statistics 2019–2021, OICA (Organisation Internationale des Constructeurs d’Automobiles), one of the international organizations of motor vehicle manufacturers, the total production of automobiles in France including commercial vehicles and cars reached 13,51,308 units in 2021, which is more than 3% in 2020.

Thus, increasing automotive production across the globe is expected to create significant opportunities across the global polyolefin elastomer market players.

Fluctuating prices of raw materials is hindering the global market growth

Polyolefin elastomer is a copolymer of butane and ethylene which is derived from the refining process of crude oil. In addition, the rise in prices of crude oil owing to an unbalanced economic environment is likely to hamper the global polyolefin elastomer market growth.

Key features of the study:

• This report provides an in-depth analysis of the global polyolefin elastomer market, market size (US$ Million & Tons), and compound annual growth rate (CAGR %) for the forecast period (2023-2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global polyolefin elastomer market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• Key companies covered as a part of this study include Mitsui Chemical, Inc., LG Chem Ltd., RTP Company, Inc., DowDuPont Inc., PolyOne Corporation, Siloxane Aggrandize Innovative Industries, Dalmia Polymers LLP, Tricon Energy Inc., Borealis AG, and SK Global Chemical Co., Ltd.
• Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics
• The global polyolefin elastomer market report caters to various stakeholders in this industry including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global polyolefin elastomer market

Detailed Segmentation:

• Global Polyolefin Elastomer Market, By Application:
  • Packaging
  • Automotive
  • Polymer Modification
  • Wires and Cables
  • Medical
  • Others
• Global Polyolefin Elastomer Market, By Region:
  • North America
    • By Country:
      • U.S.
      • Canada
  • Latin America
    • By Country:
      • Brazil
      • Argentina
      • Mexico
      • Rest of Latin America
  • Europe
    • By Country:
      • U.K.
      • Italy
      • France
      • Germany
      • Spain
      • Russia
      • Rest of Europe
  • Asia Pacific
    • By Country:
      • China
      • India
      • Japan
      • ASEAN
      • Australia
      • Rest of Asia Pacific
  • Middle East & Africa
    • By Sub-region:
      • Middle East
      • Africa
• Company Profiles
  • Mitsui Chemical, Inc.*
    • Company Overview
    • Product Portfolio
    • Financial Performance
    • Key Strategies
    • Recent Developments
    • Future Plans
  • LG Chem Ltd.
  • RTP Company, Inc.
  • DowDuPont Inc.
  • PolyOne Corporation
  • Siloxane Aggrandize Innovative Industries
  • Dalmia Polymers LLP
  • Tricon Energy Inc.
  • Borealis AG
  • SK Global Chemical Co., Ltd.

*” marked represents similar segmentation in other categories in the respective section.