Olefin Block Copolymers Market

Olefin Block Copolymers Market Study by Chain Shuttling Catalysis and Ziegler-Natta Catalyst Systems for Footwear, Adhesives, Houseware, and Health & Hygiene Elastic Films from 2023 to 2033

Analysis of Olefin Block Copolymers market covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Olefin Block Copolymers Market (2023-2033)

The global olefin block copolymers market is estimated to be valued at US$ 240.3 million in 2023 and it is anticipated to grow at a CAGR of 5.6% to reach US$ 414.5 million by the end of 2033.

The key driving factor for the olefin block copolymer market is its application in the footwear industry, hot melt adhesive, and pressure-sensitive adhesive. Footwear application contributes the majority of the consumption of olefin block copolymer followed by adhesive application.

Report Attributes

Details

Olefin Block Copolymers Market Size (2022A)

US$ 230.5 Million

Estimated Market Value (2023E)

US$ 240.3 Million

Forecasted Market Value (2033F)

US$ 414.5 Million

Global Market Growth Rate (2023-2033)

5.6% CAGR

North America Market Share (2023)

~27.4%

Europe Market Growth Rate (2023-2033)

~5.8% CAGR

East Asia Market Share (2023)

~22.6%

Key Companies Profiled

  • Dow Chemical Co.
  • Polyone (GLS Corp)
  • Mitsubishi Chemical Co.

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Market Buoyancy Analysis

A copolymer that is made up of several blocks or segments of repeating units that differ from one another is referred to as a block copolymer. It typically has qualities that are better than those of common random copolymers or polymer mixes. The block copolymer, for instance, includes both rigid crystalline and soft elastic blocks, allowing the polymer to display features like exceptional elasticity and heat resistance combined.

Olefin Block Copolymers are alternative blocks of the hard and soft segments. The block structure of olefin block copolymer offers an outstanding performance balance of flexibility, high-temperature resistance, excellent elasticity, and good compression set performance at room temperature. Olefin block copolymer finds various applications in footwear foam applications, hot melt adhesives, and pressure-sensitive adhesives.

  • Short Term (2023-2026): Augmenting utilization of OBCs for the production of profile hoses, automotive parts, and adhesives is driving the demand for OBCs.
  • Medium Term (2026-2029): Growing footwear industry, and ongoing and upcoming constructing activities leading to high demand for adhesives are set to augment the OBCs market growth, especially in North America and Asia Pacific regions.
  • Long Term (2029-2033): Application of OBCs in health and hygiene, rising demand for high-performance OBCs along with increasing inclination towards 3D printing technology will drive OBCs demand in the long term.

Over the 2018-2022 historical period, the global olefin block copolymers market registered a CAGR of 4.1%, according to the Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 5.6% CAGR between 2023 and 2033.

Market Dynamics Overview

“Growing Trend of 3D Printing to Supplement Market Growth”

OBC is a high-performance material that makes it possible to create 3D-printed components that are both light and robust. It works well with 3D printers that require a premium, lightweight chemical-resistant filament. It is one of the few flexible 3D printing materials that novice users may work with.

Its properties such as excellent printability, high durability, flexibility, low density, chemical resistance, and low odor make it an excellent candidate to be used for 3D printing.

Application of olefin block copolymers such as 3D printing is further increasing the demand for olefin block copolymers in the coming years for instance, Evolv3D, a 3D-printing polyethylene-based build material product offered by The Dow Chemical Company. Manufacturers are increasingly focused on the development of new technologies and commercialization of olefin block copolymer products which will increase overall production globally.

“Presence of Prominent Alternatives to Hamper Market Growth”

The prominent presence of other thermoplastic elastomers such as TPE-S, TPE-O, TPE-V, TPE-A, and others which find their applications in the production of automotive parts, construction materials, footwear, and sporting goods among others is likely to hamper the growth and adoption of OBCs among end users.

The market for OBCs is relatively consolidated because there aren't many OBC manufacturers. The polymer has few applications and less market penetration, discouraging other firms from making market investments. The global supply chain is being kept up by a large number of suppliers who are dispersed throughout the world. Because there are fewer participants, there is less end-user awareness, which reduces end-user demand for OBCs.

Crude oil, coal, or natural gas are used in the production of different synthetic plastics. Rising crude oil prices and its deteriorating reserves of crude oil, coal, and natural gas will affect the market for OBCs.

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Country-wise Insights

How is Growing Adhesives Demand Affecting OBCs Market in the US?

The country's construction projects and rising demand for composite joints are fueling the market for adhesives. The adhesives market is predicted to be dominated by the US, with industries like construction, transportation, and electronics being the main consumers.

Adhesives based on OBCs consist of olefin block copolymer (OBC), tackifying resin, thermoplastic base polymer, and in rare cases, wax. These formulations outperform polyethylene-based adhesives used for packing, assembly, and other applications in terms of hot tack, adhesion properties, and flexibility.

The market for OBCs in the United States is being driven by an increase in the demand for sports footwear, adhesive applications, and health & hygiene elastic films.

The United States olefin block copolymers market will expand at a CAGR of 5.7% over the projected period.

Will the Growing Footwear Industry in China Drive OBCs Demand?

China is one of the world's biggest producers of footwear in the world. Owing to this, thermoplastic elastomers are one of the most in-demand materials in the Chinese sector.

Chinese producers are being encouraged to raise the quality of their output as a result of the expanding demand for high-quality shoes in the international market. The producers of shoes are looking for thermoplastic elastomers that are superior to the ones already in use. The shift in manufacturing mind-set in China is resulting in a rise in demand for olefin block copolymers.

Due to such favorable factors, China’s market for olefin block copolymers is expected to register a CAGR of 6.7% over the forecast to reach a valuation of US$ 66.7 million by 2033.

Category-wise Insights

Why is Chain Shuttling Catalysis Process Preferred to Produce OBCs?

The method used to produce OBCs most successfully is chain shuttling catalysis. Nowadays, the chain shuttling catalysis technique produces over 90% of OBCs.

These systems include a chain shuttling agent (CSA), which distributes the expanding polymer chains among the various catalysts, and two or more catalysts with varied co-monomer affinities. A distinct block copolymer with statistically dispersed block sizes and chain lengths is the end product.

The use of chain shuttling catalysis to produce olefin block copolymers accounted for around 91.5% of the total market and is anticipated to grow at a CAGR of 5.9% over the forecast period.

Will the Market Be Driven by Increased Usage in Footwear Production?

Olefin block copolymers play a significant role in the global footwear business. OBCs are produced by a small number of businesses, but demand has been rising quickly. Block copolymers have made it possible to create midsoles for athletic shoes that perform much better.

Growing global interest in games and sports, along with rising fitness and athletic awareness levels, is fueling demand for athletic gear like footwear and increasing the need for olefin block copolymers.

Owing to the above-mentioned factors, the demand for olefin block copolymers for footwear is expected to expand during the forecast period.

Know thy Competitors

Competitive landscape highlights only certain players
Complete list available upon request

Competitive Landscape

Prominent olefin block copolymers manufacturers Dow Chemical Co., Polyone (GLS Corp), Mitsubishi Chemical Co. Entec Polymers, Chemical Innovation Co. Ltd, and Resinex.

The market for olefin block copolymers is highly consolidated with only a few manufacturers operating in the market. The suppliers are an important agent between the manufacturers and users; thus, players have developed strong distribution networks to increase their presence and ease of delivery of products.

Fact.MR has provided detailed information about the price points of key manufacturers of olefin block copolymers positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Olefin Block Copolymers Industry Research

  • By Type :

    • Soft
    • Hard
  • By Process :

    • Chain Shuttling Catalysis
    • Ziegler-Natta catalyst System
  • By Application :

    • Footwear
    • Adhesives
    • Houseware
    • Health and Hygiene Elastic Films
    • Others
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

- FAQs -

What is the Global Olefin Block Copolymers Market Size?

The global olefin block copolymers market is anticipated to be valued at US$ 240.3 million in 2023.

How is the Market for Olefin Block Copolymers Expected to Fare Going Forward?

Worldwide demand for olefin block copolymers is anticipated to reach US$ 414.5 million by 2033-end.

How did the Market Perform Over the Last Few Years?

During 2018-2022, sales of olefin block copolymers increased at 4.1% CAGR.

Which Regional Olefin Block Copolymers Market Accounts for a Leading Market Share?

North America tops the global olefin block copolymers market accounting for 28.4% market share.

Which Application Holds the Highest Market Share?

The footwear segment accounts for 52.3% share of global sales.

Olefin Block Copolymers Market