Polyolefin Elastomers Market To Reach $2.23 Billion By 2030

Polyolefin Elastomers Market Growth and Trends

The global polyolefin elastomers market is anticipated to reach USD 2.23 billion by 2030, registering a CAGR of 7.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is witnessing rising growth at a propulsive rate owing to increasing strategic initiatives such as production expansion, merger & acquisition, among others.

Attributes of polyolefin elastomers include high impact resistance, toughness, lower hardness, and low density. These resins are majorly used across compounding applications where they enhance the impact performance and flexibility of polypropylene (PP) and polyethylene (PE)-based compounds.

Furthermore, with technological advancement manufacturers are rapidly progressing in developing and launching new products, joint ventures, and other strategic initiatives. For instance, in August 2023, Mitsui Chemicals, a Japanese polymer manufacturer inaugurated its new Production unit for high-performance polyolefin elastomers at Singapore with a total Production capacity of 345 kilotons per annum.

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Polyolefin Elastomers Market Report Highlights

• The Asia Pacific market was valued at USD 850.59 million in 2023 and is expected to grow at a CAGR of 8.1% from 2024 to 2030

• Injection molding dominated the global market in 2023 owing to the growing demand from key end-use industries such as construction, automotive, and packaging is likely to drive the injection molded manufacturing methods over the forecast period

• Vehicles (Interior/Exterior) dominated the global market in 2023 across the application segmentation, owing to the wide utilization of polyolefin elastomers across automotive applications including dashboards, centre consoles, interior door panels, truck bed liners, shaped tubs for trunks, and bumper facias

Polyolefin Elastomers Market Segmentation

Grand View Research has segmented the global polyolefin elastomers market report based on type, manufacturing methods, application, end-use, and region:

Polyolefin Elastomers Type Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Polyethylene (PE)

• Polypropylene (PP)

Polyolefin Elastomers Manufacturing Methods Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Injection Molding

• Extrusion Molding

Polyolefin Elastomers Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Vehicle (Interior/Exterior)

• Films & sheets

• Wires & cables

• Roofing & flooring

• Syringe

• Others

Polyolefin Elastomers End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Automotive

• Electrical & electronics

• Building & construction

• Medical

• Packaging

• Others

Polyolefin Elastomers Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Netherlands

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

  • Indonesia

  • Thailand

  • Vietnam

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • United Arab Emirates (UAE)

  • South Africa

List of Key Players of the Polyolefin Elastomers Market

• MITSUI CHEMICALS AMERICA, INC.

• LG Chem

• RTP Company

• Dow, Inc.

• Avient Corporation

• Sai Industries

• Dalmai Polymers LLP (DPL)

• Borealis AG

• ExxonMobil Corporation

• LyondellBasell Industries Holdings B.V.

• Arkema

• Hanwha Group

• Braskem

• INEOS AG

• Polmann India Ltd.