Press release
Rotomoulding Powder Market 2024 Companies are BASF, Du Pont, The Dow Chemical Company, SABIC, Exxon Mobil, Lyondell Basell, Green Age Industries, Broadway Colours, Pacific Poly Plast, Matrix Polymers, Reliance Industries, D&M Plastics, Kiel Industries
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Tanks application is projected to surpass USD 9 billion in the forecast period 2018 to 2024. Surging demand for the septic & water storage tanks particularly in South Africa, China, and India owing to the rapid development in residential & commercial sector will support the industry growth. Ease of handling, low cost and light weight properties will enhance the rotomoulding powder demand for tanks manufacturing.
Leisure applications is anticipated to witness a CAGR over 18% by revenue in the forecast period 2018 to 2024. Rapid expansion in tourism and recreational industry owing to the shifting trends towards traveling and changing work days dynamics across the world will propel the rotomoulding powder market size. For instance, in July 2018, a New Zealand e-will managing company, Perpetual Guardian confirmed application of four-day work week after successful trial for 3 months. As per the trial results, staff stress levels lowered by 7%, work-life balance improved significantly by 24%, and leadership & commitment levels improved by 18% and 20% respectively.
Rotomoulding powder is a widely used process for the manufacturing of various packaging & plastic products. Surging demand in the packaging industry for various industrial products will proliferate the rotomoulding powder market expansion. Easy availability of raw materials, and long term supplier contracts from the domestic material manufacturers will further enhance the business size in the developing countries such as India, China, and Indonesia.
Linear low-density polyethylene market is projected to witness CAGR over 17% by volume in the forecast period 2018 to 2024. Several applications including automotive components, insulated containers, and tanks will drive the product portfolio growth. Key properties such as high strength at low temperatures, corrosion resistant, and crack resistance will be an impetus for the rotomoulding powder market expansion.
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Asia Pacific rotomoulding powder market accounted over USD 2 billion in 2017. Escalating commercial & residential infrastructure owing to the rising income levels coupled with growing population will proliferate the product demand in various applications. Increasing necessity for containers, water storage tanks, and other plastic products will boost regional rotomoulding powder market share.
Europe rotomoulding powder market accounted over USD 2 billion in 2017. Rapid growth of the electric vehicles segment in the automotive industry owing to the increasing environment conservation concerns will propel the rotomoulding powder business growth. For instance, as per the article in Euractiv in May 2018, average emission for new cars will fall 30% under the European Commission’s first light vehicle proposal. Key incentives will be offered to the manufacturers to produce more zero-emission electric vehicles.
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North America is projected to surpass 5,000 kilotons in the forecast period 2018 to 2024. Ongoing technological advancement across leisure, material handling, and construction equipment’s is anticipated to generate strong product demand across the region. Strong presence of key manufacturing companies and raw material suppliers will also support regional rotomoulding powder market growth over the projected timeframe.
Key rotomoulding powder market players include Green Age Industries, Broadway Colours, Du Pont, Pacific Poly Plast, Matrix Polymers, A. Schulman, Inc. and Phychem Technologies Pvt. Ltd., Reliance Industries Limited. Other prominent market players are D&M Plastics, Kiel Industries, BASF, The Dow Chemical Company, SABIC, Exxon Mobil, and Lyondell Basell.
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