Functionalized
polyolefin is a polymer formed by the polymerization of
olefin. It is highly desired materials owing to their
beneficial surface properties. It is virtually pervasive in everyday life, from
consumer food packaging to biomedical applications. The key properties are
included electrical insulation, excellent heat resistance, low density,
corrosion inhibition, low raw material prices and easy availability of raw
material.
According to study, “Global Functional Polyolefins Market Status
(2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use”
the key companies operating in the global functional polyolefins market are
Sinopec corporation, Saudi arabia basic industries corporation, Lyondellbasell
industries holdings n.v., The dow chemical company, Exxonmobil chemical, Abu
dhabi polymers company ltd. (borouge), Petrochina company limited, Chevron
phillips chemical company LLC, Braskem S.A., Ineos group AG, Total S.A.,
Formosa plastics corporation, Arkema S.A., Eni s.p.a., Borealis AG, Reliance
industries limited (RIL), Polyone corporation, Tosoh corporation, Repsol, Sasol
ltd. The diverse product portfolio, continuous adoption of development
strategies, strategically positioned research & development (R&D)
centers, and technological advancements reinforce the market position of these
companies in the market. They have been adopting several organic &
inorganic growth strategies, for instance new product launches, expansions,
agreements, & technology transfers, collaborations & investments
acquisitions, to enhance their current market shares. This is projected to help
the market evolve in more applications and increase their market shares.
Based on type, functional polyolefins market is segmented into Polypropylene (PP),
Polyethylene (PE) and others. PE segment is further sub-segmented into
high-density polyethylene (HDPE), low-density polyethylene (LDPE) and linear
low-density polyethylene (LLDPE). Based on structure type, market is segmented
into randomly functionalized copolymers (exist as either branched or linear
structures), chain-end-functionalized copolymers, block copolymers, and graft
copolymers. Randomly functionalized copolymers offer a way to drastically
change the properties of the corresponding homo-polyolefin by applying a
minimum of changes. Randomly functionalized polyolefin includes Ring-opening
metathesis polymerization (ROMP), post-functionalization, radical
polymerization, acyclic diene metathesis (ADMET) and catalytic polymerization.
Chain-end functionalized polyolefin are copolymers with functionality either at
one end or at both ends of the chain. Additionally, block copolymers and graft
polyolefin provides high extent of functional groups onto the polymer chain and
their synthesis proceed through a combination of polymerization reactions, most
notably through coordination or insertion mechanism and radical polymerization.
In addition, based on application, market is segmented into electronics,
automotive and others. Both electronics and automotive industries dominate the
market owing to their light weight and high performance.
The functional
polyolefins market is driven by rise in product demand from various end-use
industries, followed by increase in disposable incomes, rise in product
awareness among consumers, change in lifestyle, growth in technological
advancements, and financial stability. Moreover, rapid product innovation is a
key opportunity for market. Furthermore, increase in number of customers
willing to purchase new car and rapid urbanization are major trends for market.
Based on geography, the Asian-Pacific region
holds major share in functional polyolefins market owing to increase in
population along with speedy industrialization in the region. Whereas, the
European and North-American regions are estimated to witness higher growth rate
due to rise in investments in R&D and growth in technological advancements
over the forecast period. In upcoming years, it is anticipated to exhibit
substantial growth rate as a result of increase in demand from electronics and
automotive sectors during the forecast period.
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Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
