Polyolefin Elastomers Market Size, Share & Trends Analysis Report By Product Type, By Application, Regional Outlook, Competitive Strategies, And Segment Forecasts, 2023 To 2030

Polyolefin elastomers (POE) is a new form of thermoplastics which belongs to families of ethylene or propylene based copolymer. The amount of ethylene content determines the degree of elasticity of the product. They belong to a particular class of polyolefin which can be easily moulded and extruded like thermoplastics, hence can be called as a bridge between conventional elastomers and thermoplastics. POE has gained market attention owing to its properties or advantages over thermoset rubber like superior elasticity, low density, chemical resistance and does not undergo permanent deformation.

The product market is estimated to rise in the upcoming years owing to its increasing use and rising demand for electrical wires & cables in construction and automobile industry along with its growing demand in healthcare industry in manufacturing of medical devices. Furthermore as per OICA the global vehicles production has been increased by around 3% in 2021 with respect to previous year owing to increasing population and disposable income driving the product market demand.

The other application areas of the product includes adhesive and sealants, consumer products, hygiene and personal care, and packaging. Majorly the PEO is used in the hot melt adhesive for packaging industry as it gives strong and flexible hold on a range of materials and provides stability in moderate and low temperatures.

Lack of awareness regarding the product is slightly hampering the growth of the product in the market. This is not a major concern for the product and can be dealt in upcoming years by tracking the new opportunities. Additionally, the growing global healthcare industry owing to rising use of medical devices is the opportunity and driver for the product market.

A polyolefin elastomer are both strong and flexible, making them a versatile material offering a balance of properties common for both plastic and rubber. Some of the major players like Dow Chemical Company offers a wide range of (POEs) for use in various applications, such as automotive exteriors and interiors, packaging adhesives, footwear, vehicle belts and hoses, roofing membranes, flooring, tubing, and more. Other than The Dow Chemical Company some of the prominent industry leaders in the global polyolefin elastomers market are Exxon Mobil Corporation, Mitsui Chemicals, Inc., SABIC, Mitsubishi Chemical Holdings Corporation, LyondellBasell Industries Holdings B.V and others.