Metallocene Polyolefin Market is expected to gain substantial traction during the analysis period 2021-2027. The product demand is increasing due to the rise in packaging sector and the need for quality resins in numerous applications. The food sector being a major end-user of packaging products is creating favorable opportunities for product suppliers worldwide. A positive application outlook in films & sheets, blow molding, injection molding, and other areas will fuel the expansion of metallocene polyolefin industry. Rising R&D expenditure and continuous technological advancements will lead to product improvements and accelerate new developments in the industry.
In terms of the application outlook, the injection molding segment is projected to hold a fair share of the metallocene polyolefin market through 2027. The majority of plastic parts and components in use today are injection molded. Injection molding is utilized to produce automotive parts, electronics components, consumer plastics, medical devices, furniture parts, and countless other daily-use products. Injection molders, particularly in North America, are looking to expand their production capacity. For example, Falcon Plastics in May 2021 announced an expansion at its Lexington, Tennessee-based facility along with the addition of new injection and blow molding machines.
From a geographical point of view, North America metallocene polyolefin industry will record commendable growth over the next few years. The regional demand will be driven by the growth in packaging consumption across numerous applications. Packaging demand has increased considerably since the outbreak of the COVID-19 pandemic due to the rise in home deliveries of food, groceries, and essential supplies. Even with the improving COVID-19 situation, consumer demand for the delivery of food, grocery, and pharmacy items is consistent. Food delivery platforms such as DoorDash are now adding delivery of groceries and convenience goods to their portfolio to meet this demand.
The Dow Chemical Company, LyondellBasell Industries Holdings B.V., LG Chem Ltd., ExxonMobil Corporation, SABIC, Nova Chemicals Ltd., Total SA, Japan Polychem Corporation Ltd, Sumitomo Chemical Corp. Ltd., Daelim Industrial Corp. Ltd., Gas Authority of India Ltd., Braskem AG, and Chevron Phillips Chemical Company LLC are some of the prominent companies in the metallocene polyolefin market. The manufacturers are anticipated to expand their production capacities to meet the increasing global demand.
Analyzing the impact of COVID-19 on metallocene polyolefin industry forecast
Disruptions across key end-use verticals including automotive, construction, electronics, and others have slowed down metallocene polyolefin market trends slightly. Due to supply chain issues, workforce shortages, and other problems, a reduced consumption films & sheets, injection molding, blow molding, cables & wires, and pipes & panels, where metallocene polyolefin is used, has been observed.
However, the COVID-19 pandemic has accelerated the growth of ecommerce. During the pandemic, a sharp rise in online shopping for food, groceries, pharmaceuticals, and daily-use supplies has been witnessed, leading to increased packaging consumption. The delivery of food and supplies is deemed safe by regulatory bodies such as the U.S. FDA, considering that protocols such as regular temperature monitoring, hand sanitization, and social distancing are followed. Even after the pandemic, consumers will increasingly prefer online shopping owing to convenience, which will create promising opportunities for the metallocene polyolefin industry across the packaging sector.