Plastomers Market - By Product (Ethylene Propylene, Ethylene Butene, Ethylene Hexene, Ethylene Octene), By Application (Adhesives, Compounding Foams, Food Packaging, Non-Food Packaging, Wire & Cables, Automotive) & Forecast, 2024-2032

Plastomers Market Size

The global plastomers market size achieved USD 2.75 billion in 2023 and will grow at 6.3% CAGR from 2024 to 2032. Rising product demand from food packaging industry is majorly attributed to the growing population in Asia Pacific will make significant contribution to the industry in the forecast period.
 

For instance, food & beverage industry in India is expected to reach USD 3.14 trillion by 2032, which will have a positive impact on the product demand in the forecast timeframe. Additionally, rapidly evolving packaging regulations and increasing package food demand in the region are linked to strong R&D investment, which has led to development of new innovative materials for packaging. In the food packaging industry, product is widely applicable owing to combination of excellent properties such as flexibility, strength, light weight, stability, chemical resistance and recyclability & reuse.
 

Product is broadly used in non-food packaging industry such as films for applications across medical/healthcare, personal care, electrical component, etc. Thus, strong growth indicators in these above-mentioned end-user industries will complement the polyolefin plastomers market by 2032. However, fluctuating crude oil prices, which is the major raw material in the value chain, is probable to hamper the overall plastomers industry share. Furthermore, implementation of stringent environment protection norms along with penetration of bioplastic packaging films is likely to be a major concern for the market growth in the forecast spell.
 

Plastomers Market Trends

Innovations such as improved polymer blends and advanced compounding techniques are enabling manufacturers to produce plastomers with superior properties, including enhanced strength, flexibility, and durability. Automation and precision control systems are streamlining production processes, reducing waste, and increasing output consistency. Additionally, the integration of real-time quality monitoring and data analytics is optimizing process parameters and ensuring high-quality standards. These technological strides are not only improving operational efficiency but also driving cost reductions and accelerating time-to-market for new products. As a result, companies in the plastomers sector are better positioned to meet growing consumer demands and remain competitive in a dynamic market environment.
 

Plastomers Market Analysis

The ethylene octene segment will capture USD 1.87 billion and demonstrate a 6.7% CAGR by 2032. Ethylene Propylene plastomers, known for their excellent elasticity and resistance to aging, dominate the market due to their widespread use in automotive and packaging industries. Ethylene butene plastomers are also gaining traction, offering enhanced flexibility and toughness, making them ideal for demanding applications in the consumer goods sector. Ethylene Hexene plastomers provide superior impact resistance and processability, contributing to their increasing adoption in packaging and medical devices. Meanwhile, ethylene octene plastomers, with their unique balance of strength and flexibility, are seeing rising demand in specialized applications, including advanced automotive and construction materials. As industries continue to seek versatile and high-performance materials, the market is expected to experience significant expansion, driven by innovations and growing end-use applications.
 

The food packaging segment held a 47.4% market share in 2023, amounting to USD 1.3 billion, and is projected to grow at a 6.8% CAGR from 2024 to 2032. They are widely applicable as a sealing polymer in food packaging industry, which is mainly attributed to its low-density nature and the fact that there is a difference in its sealing and melting behavior. Additionally, product possess extraordinary properties such as flexibility, strength and excellent chemical resistance to protect food products from contamination and spoilage, which makes it highly desirable across food packaging industry.
 

Changing consumer food habits, lifestyle changes, global travel, and the ongoing trend of healthy foods are offering new opportunities to the food industry. The above-mentioned trends mainly in emerging economies such as Asia Pacific and the Middle East will boost the product demand, which will have a positive influence on the overall plastomers industry value in the projected timeframe.
 

Asia Pacific plastomers industry is projected to achieve USD 1.79 billion, with a CAGR of 7% from 2024 to 2032. Due to the rapidly growing food & beverage, pharmaceutical and personal care industry, which positively influences the packaging industry. For instance, improved per capita spending, purchasing parity and socio-economic dynamics ultimately propels package food and personal care product demand. These trends suggest a food and non-food packaging industry, which will help attain promising gains for the plastomers market soon.
 

Additionally, increasing demand in automotive, packaging, and construction sectors. Innovations in material technology and a push towards sustainable solutions are shaping market trends. Europe is focusing on eco-friendly and recyclable plastomers to meet stringent regulations, while North America is seeing growth due to technological advancements and higher adoption rates in diverse applications. Both regions are investing in R&D to enhance product performance and reduce environmental impact. Market players are also exploring strategic partnerships to leverage new opportunities and expand their market presence.
 

Plastomers Market Share

Companies include, Dow Chemical Company, Borealis, ExxonMobil, Royal Dutch Shell, and Chevron Phillips Chemical Company are key players in the global plastomers industry, each making significant contributions. Dow Chemical advances plastomer technology with innovations in its ENGAGE™ and AFFINITY™ product lines, enhancing material performance in various applications. Borealis, through its Borstar® technology, offers high-quality plastomers with superior strength and flexibility, catering to diverse industrial needs. ExxonMobil's Vistamaxx™ range provides exceptional impact resistance and processability, benefiting both consumer and industrial products. Royal Dutch Shell’s expertise in developing advanced plastomers, such as those in its Vistamaxx™ line, drives innovation in flexible packaging and automotive sectors. Chevron Phillips Chemical Company’s contributions include high-performance plastomers derived from its proprietary technologies, supporting durability and functionality in a wide array of applications.
 

Plastomers Market Companies

Top companies operating in the plastomers industry include:

• Dow Chemical Company
• Borealis
• ExxonMobil
• Royal Dutch Shell
• Chevron Phillips Chemical Company
• Saudi Basic Industries Corporation (SABIC)
• LyondellBasell
• Westlake Chemical Corporation
   

Plastomers Industry News

June 2023: SABIC revealed plans to increase the production capacity of its NEXLENE plant in Ulsan, South Korea, through its joint venture, SABIC SK NEXLENE Company. This expansion is expected to be completed by the second quarter of 2024 and is aimed at addressing the rising demand for advanced polyolefin materials, including SUPEER mLLDPE, COHERE metallocene polyolefin plastomers (POP), and FORTIFY POE. The expansion responds to the growing requirement for NEXLENE-based solutions in high-end sectors such as photovoltaics, new mobility, footwear, and advanced packaging.
 

The Plastomers market research report includes in-depth coverage of the industry, with estimates and forecasts in terms of revenue and volume (USD Billion) (Kilo Tons) from 2024 to 2032, for the following segments:

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Market, By Product

• Ethylene propylene
• Ethylene butene
• Ethylene hexene
• Ethylene octene

Market, By Application

• Adhesives
• Compounding foams
• Food packaging
• Non-food packaging
• Wire & Cables
• Automotive
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• MEA
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA