The Polyolefin Elastomers Market is Predict to reach $2.2 Billion by 2030, at a CAGR of 7.7%

16-Jan-2024 | Report Format: Electronic (PDF)

Polyolefin Elastomers Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Polyolefin Elastomers Market size is expected to reach $2.2 billion by 2030, rising at a market growth of 7.7% CAGR during the forecast period. In the year 2022, the market attained a volume of 851.65 Kilo Tonnes, experiencing a growth of 6.1% (2019-2022).

The Polyethylene (PE) segment is generating the highest revenue in the Global Polyolefin Elastomers Market by Type in 2022; thereby, achieving a market value of $1.2 billion by 2030. Polyethylene elastomers offer versatility in terms of their physical and chemical properties. Due to their ability to demonstrate elastomeric and plastic properties, they are well-suited for various applications in various industries. Manufacturers appreciate this versatility for its adaptability to various processing techniques and end-use requirements. These factors will boost the demand in the segment.

The Extrusion Molding segment is registering a CAGR of 8.1% during (2023 - 2030). Extrusion molding is known for its cost-effectiveness, especially in producing continuous lengths of uniform cross-sections. The efficiency of the process, combined with the ability to create long, consistent products, results in reduced material wastage and lower production costs, making it an attractive option for manufacturers. These aspects will pose lucrative growth prospects for the segment.

The Vehicles (Interior/Exterior) segment is leading the Global Polyolefin Elastomers Market by Application in 2022; thereby, achieving a market value of $917.7 million by 2030. POEs are utilized in automotive interiors to create soft-touch surfaces, adding a premium feel to components such as armrests, dashboards, and door panels. Likewise, POEs are utilized in manufacturing automotive bumpers, contributing to impact resistance and durability. Their ability to maintain structural integrity in various weather conditions is a key advantage. These factors will boost the demand in the segment.

The Building & Construction segment is experiencing a CAGR of 7.2% during (2023 - 2030). POEs are commonly used to produce seals and gaskets for the construction industry. These constituents are of utmost importance in impeding the ingress of air, water, and other elements from the environment. POEs, with their excellent sealing properties and resistance to weathering, contribute to the durability and performance of doors, windows, and building envelopes. These factors will help in the expansion of the segment.

Full Report: https://www.kbvresearch.com/polyolefin-elastomers-market/

The Asia Pacific region dominated the Global Polyolefin Elastomers Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1.2 billion by 2030. The North America region is poised to grow a CAGR of 6.8% during (2023 - 2030). Additionally, The Europe region would witness a CAGR of 7.3% during (2023 - 2030).