The Latin America Polyolefin Market is estimated to surpass $15.3 billion marks by 2023 growing at an estimated CAGR of more than 3.9% during 2018 to 2023. Packaging industry is having the highest market share in the year 2017 and is followed by Textile & fittings which is valued $4.2 billion and $3.3 billion respectively in the year 2017 and is anticipated to grow with a CAGR of 3.3% and 3.6% from the year 2018 to 2023. Brazil is having the highest market share with $7.3 billion and it is anticipated to grow with a CAGR of 4% during 2018 to 2023.
What is Polyolefin?
Polyolefin is a polymer that is created by polymerization of simple olefins. Olefins, also called as alkenes, are hydrocarbons with a carbon-hydrogen double bond. Polyolefin are hard, light in weight, and rigid in nature. They are majorly applied in structural plastics, Pipes & fittings, consumer goods, industrial products, and food packaging. They have waxy character and expand upon heating. They also retain their odorless and nonporous tendency when heated and cooled. This makes them a perfect material for food packaging. Polyolefin are chosen over other metallic and non-metallic substitutes due to less weight, durability, and resistance to physical and chemical attacks.
What are the major applications for Polyolefin?
The various end users assessed include consumer products, automotive, healthcare, pipes & fittings, energy and others. In automotive, polyolefin plastic materials are used in a wide range of exterior, interior, and under-the-bonnet applications. These include body panels, trims, dashboards, bumpers door claddings, climate control and cooling systems, air intake manifolds and battery cases. In healthcare, polyolefin are used for making syringes, inhalers, medical equipment, closures, trays, bags, and blister packs.
Market Research and Market Trends of polyolefin
- LOTTE CHEMICAL CORPORATION received a patent for inventing a new method of purifying polyolefin. According to this purification process, residual alkene monomers with high carbon numbers may be removed in a simpler and more efficient manner. Previously, to remove residual monomers from polyolefin prepared by the gas-phase polymerization process, the polyolefin was purged with nitrogen gas as a purge gas to vaporize residual monomers, which were then separated from the polyolefin.
Who are the Major Players in Latin America Polyolefin Market?
The companies referred in the market research report include the Braskem S.A, Borealis AG, Petróleos Mexicanos S.A. De C.V, The Dow Chemical Co and 10 others.
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