According to ChemAnalyst report, “Global Polyolefin Plastomers (POP) and Elastomers (POE) Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030”.
Global Polyolefin Plastomers and Elastomers market witnessed a strong demand in the past five years and is projected to achieve a CAGR of 8% during the forecast period owing to its versatile properties like chemical resistance, low temperature ductability, low density, good optical features, superior elasticity and resistant to perforation, and processing advantages therefore find applications in flexible packaging, foaming compounds, molded and extruded products and wire and cables.
Additionally, Polyolefin Polymers meet the requirements of sustainable development and green polymer chemistry thus making them the material of choice.Get more information: https://www.chemanalyst.com/industry-report/polyolefin-platomers-and-elastomers-market-94POP and POE are primarily the copolymers of propylene and ethylene produced by solution processes with rubber-like properties and the processability of plastic.
Polyolefin Plastomers due to their unique properties have wide range applications in Food packaging, Industrial packaging, Hot melt adhesive, Footwears, Molded and Extruded products ranging from luggage to toys and Automotive for light weight automobile parts that maintain strength and performance.
Polyolefin Plastomers and Elastomers are witnessing subsequent demand in the manufacturing of parts for automotive, flexible moldings for construction and eco-friendly alternatives for packaging industry which are likely to boost the market for POP and POE in the forecast period.Onset of Coronavirus in the first half of 2020 had mixed effects on the value chain of POP and POE commodities.
Some segments of POP and POE reported a phenomenal hike on their increased demand for packaging and medical applications while there was a dip in the demand from some of the segments like automotive and construction industry amid the pandemic due to slowdown in the automotive industry with reduction in production and selling of the vehicles as well as hinderance in the construction projects.