Sellbyville, DE -- (SBWIRE) -- 05/26/2020 -- Polyolefin catalyst market has witnessed remarkable growth given to the product's key features -like the ability to resist chemical corrosion as well as extreme heat. Due to its prominent features, polyolefins have managed to become an exceedingly lucrative industrial product and is cited to record exceptional demand in the coming years.

Increasing usage of polypropylene (PP) across diverse application sectors like plastic parts, food packaging, reusable containers of several types, automotive components, loudspeakers, textiles, laboratory equipment, and polymer banknotes could propel polyolefin catalyst industry growth.

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For the record, PP is a thermoplastic polymer that is derived from the polymerization of propylene. Earlier in 2018, the segment had held a controlling share of polyolefin catalyst market. In fact, a study conducted by Global Market Insights, Inc., predicts that the PP segment may witness a CAGR of nearly 4.8% in terms of revenue over the coming years.

Elaborating on polypropylene, the segment is further categorized into isotactic, syndiotactic and atactic polypropylene, with each one being differentiated on the basis of the position of methyl class relative to the polymer chain.

In terms of application, the polyolefin catalyst market is mainly divided into blow molding, injection molding, fiber, and film. On the other hand, additional applications include foam, sheet, etc., which are anticipated to record steady growth, maintaining a CAGR of more than 4% over 2026.

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The competitive scenario in automotive industry has lately enhanced the demand for increased comfort and better fuel economy. The quantity of polyolefin materials used in the automotive industry has been driven by technological breakthroughs. For instance, polypropylene has been providing innovative solutions for myriad challenges faced by the auto industry. The cost-effective attribute and versatility of propylene have offered an innovative design concepts which improve comfort and passenger safety.

Major companies in thee market are W.R. Grace, Univation Technologies, LLC, LyondellBasell Industries N.V., Sud-Chemie India Pvt., Ltd, Johnson Matthey Inc., China Petroleum Corporation (Sinopec Group), TOHO Titanium Company Limited, PQ corporation, Idemitsu Kosan Co., Ltd., INEOS Group, Mitsui Chemicals, Inc, Clariant AG, Evonik Industries, DuPont, Inc., DORF-KETAL Chemicals India Private Limited, AGC Chemicals Inc., and NOVA Chemicals Corporation.

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