8-K

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                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                   ----------

                                    FORM 8-K

                                 CURRENT REPORT
     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

        Date of report (Date of earliest event reported): March 23, 2007

                               POLYONE CORPORATION
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               (Exact name of registrant as specified in charter)

                 Ohio                     1-16091             34-1730488
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     (State or other jurisdiction      (Commission        (I.R.S. Employer
          of incorporation)            File Number)      Identification No.)

   PolyOne Center, 33587 Walker Road, Avon Lake, Ohio          44012
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        (Address of principal executive offices)             (Zip Code)

       Registrant's telephone number, including area code: (440) 930-1000


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         (Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing requirements of the registrant under any of
the following provisions:

[ ]  Written communications pursuant to Rule 425 under the Securities
     Act (17 CFR 230.425)

[ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange
     Act (17 CFR 240.14a-12)

[ ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

[ ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13E-4(c))

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Item 7.01 - Regulation FD Disclosure.

On March 23, 2007, the Registrant issued a press release, furnished herewith as
Exhibit 99.1, updating its first-quarter 2007 financial outlook. The press
release shall not be deemed to be "filed" under the Securities Exchange Act of
1934.

Item 9.01.  Financial Statements and Exhibits.

  (d) Exhibits.

        Exhibit 99.1 - Press release dated March 23, 2007, furnished herewith.



                                    SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                                 POLYONE CORPORATION


                                                 By: /s/ W. David Wilson
                                                     ---------------------------
                                                     W. David Wilson
                                                     Senior Vice President and
                                                     Chief Financial Officer

Dated: March 23, 2007

EX-99.1

                                                                    Exhibit 99.1

                                                                    NEWS RELEASE

                   POLYONE UPDATES 2007 FIRST-QUARTER OUTLOOK

CLEVELAND - March 23, 2007 - PolyOne Corporation (NYSE: POL) today updated its
outlook for the first quarter ending March 31, 2007.

Following is PolyOne's current view of business conditions:

    Operating Segments Overview - Consistent with the Company's business outlook
    at the end of January 2007, first-quarter sales are expected to rebound
    approximately 10 percent over the fourth quarter of 2006, but remain
    generally sluggish due to continuing slowness in construction-related and
    automotive end markets. Consequently, the Company projects that total sales
    will decrease between 2 percent and 4 percent compared with a record 2006
    first quarter. Lower Vinyl Business demand in North America primarily
    accounts for this decline. Conversely, PolyOne anticipates strong,
    double-digit year-over-year sales growth for its international operations.
    Additionally, the Company is realizing sequential gross margin improvement
    from its operating segments, as anticipated. This improvement reflects
    benefits achieved from the specialization and globalization components of
    PolyOne's strategy, which are underpinned by capabilities developed through
    commercial and operational excellence.

    Resin and Intermediates equity investments - The Company projects that lower
    margins and volumes will significantly reduce the earnings contribution from
    Oxy Vinyls, LP and SunBelt Chlor-alkali Partnership compared with the record
    first quarter of 2006. Given the extent to which continuing weakness in
    construction-related end markets has adversely affected volumes for both
    OxyVinyls and SunBelt, segment earnings will likely erode from
    fourth-quarter 2006 levels. Polyvinyl chloride (PVC) resin product spreads
    are expected to narrow due to lower average PVC prices. Chlor-alkali
    margins, however, are projected to remain relatively strong.

    OTHER CONSIDERATIONS:

    o   In the first quarter of 2006, PolyOne realized approximately $9 million
        of benefit from non-recurring adjustments to certain operating reserves
        and litigation settlements. The Company does not anticipate that it will
        benefit materially from such items in the first quarter of 2007.

    o   Because of cumulative positive domestic earnings over the past three
        years, PolyOne will return to reporting domestic tax expense in its
        financial statements. This change in accounting treatment will not
        affect cash flow due to PolyOne's net operating loss position, which was
        $269 million as of December 31, 2006. Cash taxes will continue to be
        associated principally with non-U.S. earnings.



FIRST-QUARTER 2007 EARNINGS RELEASE AND CONFERENCE CALL
- -------------------------------------------------------

PolyOne intends to release its first-quarter earnings on Wednesday, May 2, 2007,
and host a conference call at 9:00 a.m. Eastern time on Thursday, May 3, 2007.
The conference dial-in number is 866-543-6403 (domestic) or 617-213-8896
(international), passcode 34382861, conference topic: First-quarter 2007 PolyOne
Earnings Conference Call. The replay number is 888-286-8010 (domestic) or
617-801-6888 (international). The passcode for the replay is 95825105. The call
will be broadcast live and then be available via replay for one week on the
Company's Web site at www.polyone.com.

ABOUT POLYONE
- -------------

PolyOne Corporation, with 2006 annual revenues of $2.6 billion, is a leading
global provider of specialized polymer materials, services and solutions.
Headquartered in northeast Ohio, PolyOne has operations in North America,
Europe, Asia and Australia, and joint ventures in North America and South
America. See www.polyone.com for additional information on PolyOne.

Investor & Media Contact:       Dennis Cocco
                                Vice President, Investor Relations
                                & Communications
                                440.930.1538

FORWARD-LOOKING STATEMENTS
- --------------------------

In this press release, statements that are not reported financial results or
other historical information are "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements give current expectations or forecasts of future events and are not
guarantees of future performance. They are based on management's expectations
that involve a number of business risks and uncertainties, any of which could
cause actual results to differ materially from those expressed in or implied by
the forward-looking statements. You can identify these statements by the fact
that they do not relate strictly to historic or current facts. They use words
such as "anticipate," "estimate," "expect," "project," "intend," "plan,"
"believe," and other words and terms of similar meaning in connection with any
discussion of future operating or financial performance and/or sales. In
particular, these include statements relating to future actions; prospective
changes in raw material costs, product pricing or product demand; future
performance, including, without limitation, meeting cash flow goals, receiving
cash distributions from equity affiliates and achieving working capital targets;
results of current and anticipated market conditions and market strategies;
sales efforts; expenses; the outcome of contingencies such as legal proceedings;
and financial results. Factors that could cause actual results to differ
materially include, but are not limited to:

    o   the effect on foreign operations of currency fluctuations, tariffs,
        nationalization, exchange controls, limitations on foreign investment in
        local businesses and other political, economic and regulatory risks;

    o   changes in polymer consumption growth rates within the U.S., Europe or
        Asia or other countries where PolyOne conducts business;

    o   changes in global industry capacity or in the rate at which anticipated
        changes in industry capacity come online in the polyvinyl chloride
        (PVC), chlor-alkali, vinyl chloride monomer (VCM) or other industries in
        which PolyOne participates;

    o   fluctuations in raw material prices, quality and supply and in energy
        prices and supply, in particular fluctuations outside the normal range
        of industry cycles;

    o   production outages or material costs associated with scheduled or
        unscheduled maintenance programs;

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    o   costs, difficulties or delays related to the operation of joint venture
        entities;

    o   lack of day-to-day operating control, including procurement of raw
        materials, of equity affiliates or joint ventures;

    o   partial control over investment decisions and dividend distribution
        policy of the OxyVinyls partnership and other minority equity holdings
        of PolyOne;

    o   an inability to launch new products and/or services within PolyOne's
        various businesses;

    o   the possibility of further goodwill impairment;

    o   an inability to maintain any required licenses or permits;

    o   an inability to comply with any environmental laws and regulations;

    o   the cost of compliance with environmental laws and regulations,
        including any increased cost of complying with new or revised laws and
        regulations;

    o   unanticipated developments that could occur with respect to
        contingencies such as litigation and environmental matters, including
        any developments that would require any increase in our costs and/or
        reserves for such contingencies;

    o   an inability to achieve or delays in achieving or achievement of less
        than the anticipated financial benefit from initiatives related to cost
        reductions and employee productivity goals;

    o   a delay or inability to achieve targeted debt level reductions;

    o   an inability to access the receivables sale facility as a result of
        breaching covenants due to not achieving anticipated earnings
        performance or for any other reason;

    o   any poor performance of our pension plan assets and any obligation on
        our part to fund PolyOne's pension plan;

    o   any delay and/or inability to bring the North American Color and
        Additives and the North American Engineered Materials segments to
        profitability;

    o   an inability to raise or sustain prices for products or services;

    o   an inability to maintain appropriate relations with unions and employees
        in certain locations in order to avoid business disruptions;

    o   any change in any agreements with product suppliers to PolyOne
        Distribution that prohibits PolyOne from continuing to distribute a
        supplier's products to customers;

    o   the timing and amounts of any repurchases of outstanding senior notes
        and debentures of the Company, including the amount of any premiums
        paid;

    o   timing of completion of acquisitions, including the acquisition of Ngai
        Hing PlastChem Company;

    o   the future financial performance of acquisitions, including that of Ngai
        Hing PlastChem Company, and

    o   other factors affecting our business beyond our control, including,
        without limitation, changes in the general economy, changes in interest
        rates and changes in the rate of inflation.

We cannot guarantee that any forward-looking statement will be realized,
although we believe we have been prudent in our plans and assumptions.
Achievement of future results is subject to risks, uncertainties and inaccurate
assumptions. Should known or unknown risks or uncertainties materialize, or
should underlying assumptions prove inaccurate, actual results could vary
materially from those anticipated, estimated or projected. Investors should bear
this in mind as they consider forward-looking statements.

We undertake no obligation to publicly update forward-looking statements,
whether as a result of new information, future events or otherwise. You are
advised, however, to consult any further disclosures we make on related subjects
in our reports on Form 10-Q, 8-K and 10-K that we provide to the Securities and
Exchange Commission. You should understand that it is not possible to predict or
identify all risk factors. Consequently, you should not consider any list to be
a complete set of all potential risks or uncertainties. (Ref. #32207)

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