The North America Polyolefin Market would witness market growth of 7.2% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 23,811.1 Kilo Tonnes, showcasing a growth of 4.9% (2019-2022).
Polyolefins are a polymer made from olefin monomers, hydrocarbons retaining one or more carbon-carbon double bonds. The market is poised for growth due to increasing adaptation across the end-use industries. The use of polyolefins in automotive applications helps reduce fuel consumption due to their ability to reduce the density and weight of vehicles compared to conventional materials such as rubber and metal. Increasing awareness regarding health hazards and consumer safety in various industries, such as wire & cable, electronics, healthcare, construction, and automotive, is expected to drive the market over the forecast period. The rapidly developing automotive industry is expected to trigger the demand for plastics in under-the-hood components and exteriors & interiors of automobiles. Polyolefins are majorly used in under-the-hood components in the automotive industry.
Due to Polyolefins ability to reduce the density and weight of vehicles compared to conventional materials such as rubber and metal. In the market, major players have adopted various strategic initiatives such as the latest product launches, production expansion, merger & acquisition, etc. These strategic initiatives enable the market players to maintain a competitive environment and meet global demand. For instance, in May 2023, Borealis, an advanced & circular polyolefin solution provider, launched Stelora to its existing portfolio of polyolefins. This sustainable engineering polymer provides strength, durability, and higher thermal resistance.
North America's automotive industry relies on polyolefins for various components, including interior trim, bumpers, and under-the-hood applications. According to the Government of Canada, plastic packaging materials and unlaminated film and sheet manufacturing net revenue in 2020 was $561.0 million. Polyolefins are the materials of choice for flexible packaging solutions in Canada. The growth of the packaging manufacturing industry in Canada, coupled with consumer demand for convenient, safe, and sustainable packaging solutions, has led to an increased adoption of polyolefins. The aspects mentioned above will boost market growth in this region.
The US market dominated the North America Polyolefin Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $61,841.9 million by 2030. The Canada market is exhibiting a CAGR of 9.6% during (2023 - 2030). Additionally, The Mexico market would experience a CAGR of 8.7% during (2023 - 2030).
Based on Application, the market is segmented into Film & Sheet, Injection Molding, Blow Molding, Profile Extrusion and Others. Based on Product, the market is segmented into Polyethylene (PE), Ethylene-Vinyl Acetate (EVA), Polypropylene (PP), Thermoplastic Polyolefins (TPO), Polyoxymethylene (POM), Polycarbonate (PC), Polymethyl Methacrylate (PMMA) and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Polyolefin Market is Predict to reach $428.1 Billion by 2030, at a CAGR of 7.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include China Petrochemical Corporation, LyondellBasell Industries Holdings B.V., PetroChina Company Limited, TotalEnergies SE, Chevron Corporation, Repsol Group, The Dow Chemical Company (Dow Corning Ltd.), Exxon Mobil Corporation, Braskem SE, and OMV group.
By Application (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Product (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Million, 2019-2030)
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 