Functionalized Polyolefins Market: Introduction
Functionalized polyolefins are primarily olefin polymers which possess polar and non-polar functionalities while they are attached to a polymer base or backbone. Functionalized polyolefin can be segmented into four types based on their structure. These types are better identified as randomly functionalized polyolefins, end functionalized polyolefins, block functionalized polyolefins, and graft functionalized polyolefins.
Functionalized polyolefins possess a number of properties which make them well suited for a variety of applications. Functionalized polyolefins are flexible and this helps in the improvement of the impact resistance of fragile technical polymers. The flexible nature of functionalized polyolefins also helps in enhancing the rigidity of plastics. The reactivity of functionalized polymers helps in the bonding of materials together during the processing of plastics by extrusion, co-extrusion, extrusion coating or extrusion lamination. Functionalized polyolefins also possess the property better known as processability which enables functionalized polyolefins to be used along with most thermoplastic processing technologies. The creation of plastic alloys is also made possible owing to the compatible nature of functionalized polyolefins. Functionalized polyolefins are suitable to create plastic alloys as they possess the property of polarity and reactivity which enables them to easily combine with other plastics.
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Functionalized polyolefins find widespread application in a number of industries such as construction, electronics, electrical appliances, packaging, pulp and paper, oil and gas transportation, sports, adhesives, plastics, and additives. However, functionalized polyolefins lack durability and heat resistance which makes then=m unsuitable for a number of applications despite possessing a number of positive properties.
Functionalized Polyolefins Market: Market Dynamics
The growth of the construction industries and oil exploration activities taking place across the globe are expected to boost the growth of the functionalized polyolefins market. Proficient demand from building based insulation materials in turn is expected to augment the functionalized polyolefins market growth as functionalized polyolefins have superior thermal and acoustic insulation properties which aids in optimal energy utilization and immunity from external environment. The growing procedure of LEED accreditation of residential and commercial buildings can thus be attributed to the growth of functionalized polyolefins market. The use of functionalized polyolefins is also being witnessed significantly in the growing exploration of oil and gas deposits thereby fuelling the market growth. In addition, the laying of pipes cutting across boundaries to transport oil and gas also entails the use of functionalized polyolefins due to their corrosion resistance and thermal insulation properties. The aforementioned factors are additionally aiding in the growth of the functionalized polyolefins market.
One of the key restraints which is hindering the growth of the market of functionalized polyolefins is the frequent need to replace the functionalized polyolefin integrated insulators used in piping and harsh environments due to their lack of durability and heat resistance and preference of low cost substitute products such as polyisocyanurate, glasswool, etc.
Functionalized Polyolefins Market: Market Segmentation
The global Functionalized Polyolefins market can be segmented on the basis of type, and end use industries.
On the basis of type, the functionalized Polyolefins market is segmented into:
On the basis of end use industry, the global functionalized Polyolefins market is segmented into:
Functionalized Polyolefins Market: Regional Outlook
On the regional front, North America is the most dominant market for functionalized polyolefins. The demand for functionalized polyolefins is primarily from the US market owing to the constant use of these materials by in electrical and electronics industry in addition to transportation equipment and construction. The European and the East Asian markets are expected to be other dominant markets for functionalized polyolefins owing to the presence of a large number of automobile manufacturers as well as electronic product manufacturers in the region. South Asian functionalized polyolefins market appears to be lucrative owing to rapid industrialization in the region and is expected to grow significantly over the next few years.
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Functionalized Polyolefins: Key Market Participants
Some of the key market participants in the global functionalized polyolefins market are:
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