The global polyolefin catalyst market is anticipated to grow at a CAGR of around 5.1% during the forecast period 2021 - 2028 and to reach around US$ 3.4 Bn by 2028.
Rapid industrialization in developing countries and increasing R&D activities for development of new-generation catalyst for the betterment of polymerization process are major factors expected to drive the growth of global market. In addition, rising demand for polyolefin catalyst from various end use industries such as food & beverage, automotive, packaging, etc. is another factor expected to further support the growth of target market.
Major players are focused on enhance the business presence through strategic business development activities this is another factor expected to impact the growth of target market.
In 2016, W.R. Grace acquired the BASF Polyolefin Catalysts business. This acquisition will help the company to enhance the product portfolio and enhance the customer base.
In 2018, W.R. Grace acquired the polyolefin catalysts business of Albemarle Corporation a chemical manufacturing company. This acquisition will help the company to enhance the customer base and strengthen its position in the global market.
In 2020, W. R. Grace & Co. acquired Rive Technology, Inc., including its Molecular Highway™ zeolite technology. This acquisition will support the company to enhance its customer reach and increase the profit share.
In 2017 Clariant a major manufacturer of specialty chemicals opened new office for catalyst business in Yinchuan, China this is expected to help the company to enhance the customer base and increase the profit ratio.
Major players are inclining towards shifting the manufacturing units to developing countries due to easy availability of raw material and low cost labor this is another factor expected to further support the growth of target market.
However, factor such as stringent government regulation related to product approval and fluctuating raw material prices are expected to hamper the growth of global polyolefin catalyst market. In addition, rising environment safety regulation in some countries is another factor expected to challenge the growth of target market.
High investment by major players for R&D activities and inclination towards development of low-cost alternative raw materials are major factor expected to create new opportunities for players operating in the target market over the forecast period. In addition, increasing strategic partnership and agreements between players is another factor expected to revenue support the growth of target market.
Segment Analysis by Region
The market in North America is expected to account for significant revenue share owing to increasing demand from various end use industries. In addition, presence of major players operating in the country and introduction of innovative product solution is another factor expected to further support the growth of target market.
Asia Pacific is expected to witness faster growth in the near future owing to increasing production capacity of polypropylene. In addition, flourishing automotive sector in the region, developing regulatory scenario, coupled with increasing use of polyolefin catalyst in production of various automotive parts are among other factors expected to further support the growth of target market in this region.
Pandemic situation across the globe has disrupted the business flow worldwide. In 2020 every industry vertical in its 2nd, 3rd, 4th quarter has witnessed substantial drop on production and revenue, this was majorly due to lockdown. The restriction on the operations is impacting the production side and also impacting the supply chain of products. The disrupted supply of raw materials and low operational factories efficiency has contributed in the slower growth of the global market. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process at high operational efficiency, better supply chain models, and effective distribution network. These factors to some extent will help the industry vertical to flourish and aid market growth.
The global market is highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.
Global Polyolefin Catalyst Market
2017 - 2028
2021 - 2028
Classification, Catalyst, Application and Geography
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis
The global polyolefin catalyst market is segmented into classification, catalyst, and application. The application segment is further bifurcated into injection molding, blow molding, film, fiber, and others. Among classification the polypropylene is expected to account for significant revenue share in the global market. The players profiled in the report LyondellBasell Industries N.V., Sud-Chemie India Pvt., Ltd, Johnson Matthey Inc., China Petroleum Corporation (Sinopec Group), TOHO Titanium Company Limited, PQ corporation, Idemitsu Kosan Co., Ltd., INEOS Group, W.R. Grace, Univation Technologies, LLC, Mitsui Chemicals, Inc, Clariant AG, Evonik Industries, DuPont, Inc.
Market By Classification
Market By Catalyst
Market By Application
Market By Region
• Rest of Europe
• South Korea
• Rest of Asia-Pacific
• Rest of Latin America
Middle East & Africa
• South Africa
• Rest of Middle East & Africa
Rapid industrialization in developing countries and increasing R&D activities for development of new-generation catalyst for the betterment of polymerization process are major factors expected to drive the growth of global market.
The polyolefin catalyst market value is anticipated to be worth around US$ 3.2 Bn in 2027.
The polyolefin catalyst market is anticipated to grow around 5.0% CAGR amid the forecast period 2020-2027.
The key players operating in polyolefin catalyst market such as LyondellBasell Industries N.V., Sud-Chemie India Pvt., Ltd, Johnson Matthey Inc., China Petroleum Corporation (Sinopec Group), TOHO Titanium Company Limited, PQ corporation, Idemitsu Kosan Co., Ltd., INEOS Group, W.R. Grace, Univation Technologies, LLC, Mitsui Chemicals, Inc, Clariant AG, Evonik Industries, DuPont, Inc.
In the global market the Asia Pacific region is expected to grow faster.
The report provides insights on global polyolefin catalyst market segment by classification, catalyst, application, and major geographic regions.
In application segment the Injection molding is growing at faster pace.