Polyolefin Catalyst Market to Rear Excessive Growth During 2017-2025
Selbyville,Delaware, United States,Dec 16 2020 (WiredRelease) Global Market Insights, Inc:According to the report published by Global Market Insights, Inc., the global polyolefin catalyst market was valued at $2.1 billion in 2018 and is anticipated to hit $3.1 billion by 2026, registering a CAGR of 4.8% from 2019 to 2026. The report provides a detailed evaluation of the market size estimations, top winning strategies, key investment pockets, drivers opportunities, wavering market trends, and competitive scenario.
The demand for packaged goods has increased owing to the rising urbanization in combination with the growing global economies. Packaging plays an important role as it is a part and parcel of home delivery, significantly impacting logistics as well as customer satisfaction. As per the Tetra Pak Index, the internet is boosting online grocery shopping and revolutionizing the grocery trade, taking a greater share of the food retail sector.
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Key reasons for polyolefin catalyst market growth:
Rising consumer spending trends and surging disposable income levels in developing nations.The growing need for replacing heavy parts with lightweight materials in aerospace and automotive applications.Developments in the biomedical industry that would create new potential uses of polyolefin components.
2026 forecasts show growing consumption across various industries with infrastructure construction leading the charge:
Based on the classification, polypropylene and polyethylene plastics are majorly consumed by industries like packaging, infrastructure construction, medical, agriculture, automotive, construction, electrical electronics, and pharmaceutical.
Increasing construction spending together with rising infrastructural investments and government infrastructure projects are anticipated to fuel the growth of the polyolefin catalyst market over the projected time period.
The growing commercial success of polyolefin materials in various end user segments including automotive, food and beverage and packaging among others is projected to substantially contribute to the overall catalyst demand during the forecast period. Moreover, the growing research and development spending for new manufacturing technologies along with the capacity expansions of polyolefin plants shall also augment the product demand in the coming years.
However, fluctuating crude oil prices is projected to be a major downside to the overall polyolefin catalyst market during the assessment period. Polyethylene and polypropylene are both derived from crude oils, hence change in feedstock prices hampers the overall production in turn negatively impacting the catalyst demand.
The global polyolefin catalyst market exhibits a medium level of forward integration. Most of the major players in this market are engaged in the production of both catalysts and polyolefin products. As a result, high degree of captive consumption of catalyst can also be seen in the overall market.
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