What are the Prominent Driving Factors for Olefin Block Copolymers – Exclusive Study by Fact.MR
As per industry analysis on olefin block copolymers by Fact.MR, a market research and competitive intelligence provider, the global market is anticipated to be valued at US$ 212 Mn in 2021, and expand at a healthy CAGR of 5.6% over the forecast period 2021-2031.
Being one of the largest consumers of olefin block copolymers (OBCs), the footwear industry has always encouraged OBC manufacturers to produce at a higher volume, thereby expanding globally. Beating other block copolymers such as styerenic block copolymers (SBCs) in terms of high-end property and usability, OBCs have had a great impact on the global footwear market.
It has been proven that OBC footwear soles are much more flexible and durable compared to conventional thermoplastic material. Leading footwear manufacturers across the globe are utilizing olefin block copolymers from the past half-decade. Footwear giants such as Reebok, Under Armour, Crocs, etc., are known for their footwear quality and design, and utilize OBCs in certain footwear segments.
Key Takeaways from Market Study
- Global olefin block copolymers market anticipated to add 1.7X value by 2031.
- Soft OBCs anticipated to hold dominance over forecast period and increase at 5.3% CAGR.
- Over 90% of production of olefin block copolymers is by chain shuttling polymerization.
- Footwear application has the highest use case potential of olefin block copolymers in terms of market acceptance. The application is anticipated to gain 277 BPS in its market share by 2031 over 2021.
- Olefin block copolymer use in adhesive application projected to grow 1.6X by value during the forecast period. Housewear applications on the other side is projected to grow 1.4X in value by 2031.
“Adoption of chain shuttling polymerization to open new frontiers for novel OBCs,” says a Fact.MR analyst.
Olefin block copolymer manufacturers have been focusing on strengthening their domestic as well as international sales and distribution networks. Continuous improvements of product grade along with launching products based on application is another way of market expansion.
There is limited market players operating across the globe, among which, DOW Chemical has global dominance. Other players with limited offerings and also in transition to start an OBC business should focus on increasing production to cater to global demand.
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