Global Polyolefin Elastomers and Plastomers Market Analysis 2021-2031

The global polyolefin elastomers (POE) and plastomers (POP) market is anticipated to grow with a CAGR of 7.6% during the forecast period, i.e., 2022-2031. Factors such as the increasing use of POE in solar module encapsulation, followed by the rising demand for electrical wires and cables in the construction and automotive industry, along with the growing deman for the chemical compound in the medical industry for the manufacturing of different medical devices are anticipated to drive the growth of the market in the coming years. Additionally, the rising production of vehicles globally, along with the increasing volume of construction activities, backed by rising urbanization and increasing household disposable income of individuals are expected to contribute to the market growth during the forecast period. The market is estimated to garner a revenue of about USD 7770 Million by the end of 2031, up from a revenue of over USD 3750 Million in the year 2021.

The global polyolefin elastomers (POE) and plastomers (POP) market is segmented into numerous segments, which include segmentation by end-user, distribution channel, and by region. By end-user, the market is segmented into automotive, packaging, wires & cables, and others. Amongst these, the packaging segment is projected to garner the largest revenue of near to USD 2880 Million by the end of 2031. Additionally, in the year 2021, the segment generated a revenue of more than USD 1430 Million.

On the basis of regional analysis, the global polyolefin elastomers (POE) and plastomers (POP) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these, the market in the Asia Pacific is anticipated to garner the largest revenue of around USD 3130 Million by the end of 2031. Additionally, the market in the region generated a revenue of about USD 1460 Million in the year 2021.

Some of the prominent industry leaders in the global polyolefin elastomers and plastomers market that are included in our report are The Dow Chemical Company, Exxon Mobil Corporation, LG Chem, Mitsui Chemicals, Inc., Saudi Basic Industries Corporation (SABIC), Mitsubishi Chemical Holdings Corporation, Borealis AG, RTP Company, LyondellBasell Industries Holdings B.V., Ravago, and others.