PUBLISHER: Grand View Research | PRODUCT CODE: 1405055
PUBLISHER: Grand View Research | PRODUCT CODE: 1405055
Polyolefin Elastomers Market Growth And Trends
The global polyolefin elastomers market is anticipated to reach USD 2.23 billion by 2030, registering a CAGR of 7.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is witnessing rising growth at a propulsive rate owing to increasing strategic initiatives such as production expansion, merger & acquisition, among others.
Attributes of polyolefin elastomers include high impact resistance, toughness, lower hardness, and low density. These resins are majorly used across compounding applications where they enhance the impact performance and flexibility of polypropylene (PP) and polyethylene (PE)-based compounds.
Furthermore, with technological advancement manufacturers are rapidly progressing in developing and launching new products, joint ventures, and other strategic initiatives. For instance, in August 2023, Mitsui Chemicals, a Japanese polymer manufacturer inaugurated its new Production unit for high-performance polyolefin elastomers at Singapore with a total Production capacity of 345 kilotons per annum.