The North America Polyolefin Elastomers Market would witness market growth of 6.8% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 164.10 Kilo Tonnes, showcasing a growth of 5.3% (2019-2022).
The market is a dynamic and evolving segment within the broader polymer industry, exhibiting substantial growth and innovation in recent years. POEs are a class of polymers known for their unique flexibility, elasticity, and processability, making them versatile materials with a wide range of applications. POEs, including metallocene polyethylene (mPE) and ethylene propylene elastomers (EPM and EPDM), have gained significant traction due to their versatility. Their adoption spans various industries, driven by their exceptional flexibility, impact resistance, thermal stability, and cost-effectiveness.
In addition, POEs have made substantial inroads in the packaging industry. Their ability to enhance sealability, puncture resistance, and flexibility makes them ideal for various packaging applications, including films, pouches, and food packaging. The lightweight nature of POEs contributes to sustainability goals in the packaging sector. POEs are extensively used in the production of films for packaging applications. Their excellent sealability, tear resistance, and clarity make them suitable for flexible packaging in food and beverages, pharmaceuticals, and personal care products.
Population growth in the United States has been consistent, resulting in a surge in the need for housing, commercial spaces, and infrastructure. According to the report titled Monthly Construction Spending, released in July 2023 by the U.S. Census Bureau, the seasonally adjusted annual rate of construction expenditures in July 2023 was projected to be $1,972.6 billion, representing an increase of 0.7 percent (±0.5 percent) from the revised June estimate of $1,958.9 billion. The July figure surpasses the July 2022 estimate of $1,869.3 billion by 5.5 percent (±1.2 percent). Construction expenditures reached $1,101.5 billion in the initial half of this year, representing an increase of 1.0 percent (3.7 percent) over the $1,062.1 billion recorded during the corresponding period in 2022.
The US market dominated the North America Polyolefin Elastomers Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $342.6 million by 2030. The Canada market is experiencing a CAGR of 9.3% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 8.3% during (2023 - 2030).
Free Valuable Insights: The Polyolefin Elastomers Market is Predict to reach $2.2 Billion by 2030, at a CAGR of 7.7%
Based on Type, the market is segmented into Polyethylene (PE), and Polypropylene (PP). Based on Manufacturing Methods, the market is segmented into Injection Molding, and Extrusion Molding. Based on Application, the market is segmented into Vehicles (Interior/Exterior), Wires & Cables, Films & Sheets, Roofing & Flooring, Syringe, and Others. Based on End-use, the market is segmented into Automotive, Building & Construction, Electrical & Electronics, Medical, Packaging, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Manufacturing Methods (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By End-use (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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