Investments & Expansions was the Key Strategy Adopted by the Major Players to Grow in the Polyolefin Powders Market Between 2015 and 2018.
The polyolefin powders market is projected to grow from USD 6.76 Billion in 2017 to USD 8.48 Billion by 2022, at a CAGR of 4.62% between 2017 and 2022. APAC is the largest consumer of polyolefin powders. The polyolefin powders market in the APAC region is witnessing high demand from various new end-use industries for rotomolding and masterbatch applications.
Some of the major players in the polyolefin powders market include LyondellBasell (Netherlands), SABIC (Saudi Arabia), Exxon Mobil (US), and Wacker Chemie (Germany). These players have adopted various strategies, such as mergers & acquisitions, expansions, and new product launches to grow in the polyolefin powders market. Investments & Expansions was the Key Strategy Adopted by the Major Players to Grow in the Polyolefin Powders Market Between 2015 and 2018. This strategy accounted for a share of 58% of all growth strategies adopted by key market players. This strategy has helped companies enhance their market and expand global presence.
LyondellBasell (Netherland) is one of the world’s leading manufacturers of polyolefin powders. The company produces polyolefin powder resins through its olefins and polyolefin segments. The company offers polyethylene and polypropylene-based products for applications such as masterbatch and rotomolding. In September 2017, LyondellBasell (Netherlands) started the production of 20 kilotons of polypropylene compounding at its plant in Dalian, China, which is intended for use in the automotive & transportation application. This is the company’s third facility in China to serve the region’s growing automotive market. The company has been actively involved in acquiring emerging companies in the polyolefin powders market. For example, in February 2018, LyondellBasell announced a definitive agreement to acquire A.Schulman, Inc. for USD 2.25 billion. This will double the size of LyondellBasell’s existing compounding business and will create a premier advanced polymer solution business with a broad geographic reach.
There are several major North America and European players in the polyolefin powders. Exxon Mobil (US) is a leading oil & gas company globally. The company produces and supplies polyolefin powder, which falls under the chemical business segment. Polyethylene and polypropylene resins produced by the company are mainly used for polyolefin powder and other plastic processing. The company is mainly involved in investments & expansions strategy. For example, in March 2018, the company began their detailed engineering work on a potential project to expand its PP capacity by 450,000 tons/year on the US Gulf coast. This will help to cater the growing demand for lightweight plastics in North America and APAC regions. Furthermore, in October 2017, ExxonMobil started production on new 650,000 tons-per-year high-performance polyethylene lines at its plastics plant in Texas, US. This will help to add company’s PE-based product line.
Related Reports:
Polyolefin Powders Market by Chemistry (Polyethylene, Polypropylene, and EVA), Application (Rotomolding, Masterbatch), End-Use Industry (Tanks & Containers, Transportation, Coatings, Cosmetics, Battery, Construction), and Region - Global Forecast to 2022 .
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