Global Polyolefin Catalyst Market: Overview
A polyolefin is a class of polymers produced from a simple olefin, known as an alkene. For instance, polyethylene is the polyolefin produced by polymerizing olefin ethylene. Polyethylene is another common polyolefin that is made from olefin propylene. Polyolefin has the wide range of properties, and are primarily determined by their molecular weight and degree of crystallinity. Its degrees of crystallinity ranges from 0% to 60% or higher. Polyolefin are majorly utilized in blow molded or rotationally molded components. They are also employed in the packaging of various food products.
Demand for consumer goods is increasing rapidly in emerging economies. Furthermore, technological innovation has fueled the demand for plastic films, packaged goods, and building materials. Technological advancements in the refinery sector as well like high severity fluid catalytic cracking unit have increased yield by 27% to 28% after combining with olefin conversion unit and by around five times when combined with fluid catalytic cracking. These factors are expected to drive the polyolefin catalyst market. However, high manufacturing cost and volatility in prices of precious metals are restraining the market.
Global Polyolefin Catalyst Market: Key Segments
The global polyolefin catalyst market can be segmented based on type, end-user, and region. In terms of type, the market can be classified into Ziegler Natta, metallocene, and peroxide initiators. The Ziegler Natta segment dominated the polyolefin catalyst market primarily, as it is cost-effective and can be easily controlled for the production of thermoplastic polyolefin such as polypropylene. Metallocene types are largely utilized for custom designed products, and they provide enhanced impact strength and toughness. These type of polyolefin catalyst used in the manufacture of value added and high price polymers.
Based on end-user, the polyolefin catalyst market can be split into automobile, coatings, construction, packaging, and pharmaceutical. The automobile segment dominated the global polyolefin catalyst market. The segment is estimated to expand at a notable CAGR during the forecast period. Polyolefin catalyst are used in the manufacture of auto parts such as bumpers, seats, lighting, and dashboard. Construction is another major end-user segment of the market.
Global Polyolefin Catalyst Market: Regional Analysis
In terms of region, the global polyolefin catalyst market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the global polyolefin catalyst in 2017. The market in the region is projected to expand at a significant CAGR during the forecast period. The region is home to large plants with significantly high capacity to manufacture polyolefin catalyst. Rapid industrialization in countries such as China, India, Japan, and those in Southeast Asia is driving the demand of the polyolefin catalyst. China is a major manufacturer and consumer of polyolefin, globally. North America is another major market of polyolefin catalyst. The region is expected to account for a significant share of the global market, in terms of revenue, during the forecast period.
In Europe, Germany is expected to contribute significantly in polyolefin catalyst market, primarily due to the well-established and expanding automobile industry in the country, which includes major players such as Audi and Volkswagen. The construction industry in GCC countries is expanding at a rapid pace which in turn is boosting the usage of polyolefin catalyst usage in the sub-region.
Global Polyolefin Catalyst Market: Key Players
Key companies operating in the global polyolefin catalyst market include W. R. Grace & Co, Lyondellbasell Industries Holdings B.V., China Petrochemical Corporation, Akzo Nobel, Albemarle Corporation, Chicago Bridge & Iron Company N.V, Clariant AG, Dorf-ketal Chemicals India Private Limited, DowDupont Inc., Evonik Industries Ag, Haldor Topsoe, Ineos Technologies Limited, Johnson Matthey, Mitsui Chemicals Inc., and Nova Chemicals Corporation.