Global Polyolefin Plastomers (POP) Market Demand & Forecast Analysis, 2016-2032

Medical packaging is one of the leading consumers of POP globally. Owing to its properties such as flexibility, processability and chemical resistance and its ability to meet stringent regulatory and safety standards, POP finds various applications in the medical field. This includes manufacturing pouches, bags, films for medical packaging devices, pharmaceuticals, and sterile supplies, owing to moisture and contaminants resistance property. POP is preferred in the medical tubing such as catheters, drainage tubes, respiratory tubing for its flexibility, durability, and biocompatibility. Disposable medical devices such as syringes IV bags, are manufactured from POP on the back of cost effectiveness, ease of molding, compatibility with sterilisation methods. The medical & healthcare packaging industry is boosted by the rise in chronic diseases and aging population. Chronic diseases such as diabetes, cancer etc are increasing in number. As per International Diabetes Federation, USA had around 31 million adults with diabetes in 2019 and Canada had around 2.9 million. It is estimated that prevalence of diabetes is poised to increase to 12.1% by 2030 and 12.8% by 2045. Currently, over 37 million Americans have diabetes and another 88 million have prediabetes.

The number of aging populations with age 60 and above is poised to grow at continuously to reach around 2 billion by 2050. These factors such as demographic shift and increased frequency of chronic diseases will boost the demand for cutting-edge medical devices and treatments, consequently leading to an increased consumption of POP in medical applications.

Growing demand of renewable polyolefins produced from bio-based feedstock on the back of stringent food and safety regulations will provide opportunity for renewable POP market, however in the forecast period it will hinder the growth of conventional POP market.