POLYOLEFIN ELASTOMER MARKET ANALYSIS

Market Challenges And Opportunities

Drivers

Increasing demand for polyolefin elastomers in the packaging industry

Polyolefin elastomer is widely used in food and goods packaging. This elastomer offers soft, flexible, and less-density materials which are used in the packaging sector. In addition, polyolefin offers several applications in closures, flexible and liners bags, seals, and pouches, which are further used for food and beverage packaging. Moreover, these elastomers are used to make plastic bags, cartons and case sealing, vacuum bags, and others. These are major factors to boost the demand for polyolefin elastomers across the packaging industry.

Market Restraints

The side effects of polyolefin elastomer on the environment

The incineration of polyolefin elastomer waste causes air and soil pollution. In addition, recycling elastomers required energy and labor costs. Moreover, the consumption and overproduction of polyolefin elastomer materials pollute landfills. Furthermore, the high cost of raw materials required for the production of polyolefin elastomer is hindering the global polyolefin elastomer market growth.

Global Polyolefin Elastomer Market - Impact of Coronavirus (Covid-19) Pandemic

COVID-19 negatively impacted the global polyolefin elastomer market. Owing to the strict laws followed by the government there was a decrease in the production of polyolefin elastomers. In addition, the market players of polyolefin elastomers were facing less productivity, low demand, and a lack of workforce owing to stringent regulations on transportation systems. Furthermore, the skilled workforce of the industry has faced the threat of getting infected by COVID-19. Due to social distancing, there was a reduction in the number of workers which affected the production capacity of polyolefin elastomer.