Asia Pacific Rotomoulding Powder Market growth is driven by rising demand in the industrial and commercial applications sectors | Key Players Are A. Schulman, Inc., Tradeindia.com-Infocom Network Ltd, Reliance Industries Limited, LyondellBasell, Arkema, T
Strong application outlook in storage tanks and containers used for wide range of applications across various sectors including construction, agriculture, industrial and commercial will propel Asia Pacific rotomoulding powder market. Factors such as light weight, ease of handling and suitable replacement for other conventional storage tanks supporting product sales. Rapid expansion of residential and industrial sector will provide strong business opportunities for Asia Pacific rotomoulding powder manufacturers.
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Rising demand for plastic material in various automotive vehicles owing to high tensile strength, reduced part weight and low packaging properties supporting Asia Pacific rotomoulding powder market growth. Increasing disposable income, social status and changing trends in consumer preferences will upsurge the demand for vehicles, thus creating new growth opportunities for manufacturers. Major automotive producing countries including India, China and Japan will drive Asia Pacific rotomoulding powder market over the forecast timeframe.
Increasing demand from material handling, leisure and toys application will foster product sales over the projected timeframe. Rotomoulded products have better resistance towards environmental stress as a result serves as an effective substitute for counter parts. However, increasing concern pertaining to release of hazardous chemicals, gases and toxins in the environment during production process may pose challenge for key players in Asia Pacific rotomoulding powder market.
LLDPE material is used for a variety of applications such as shipping containers, industrial tanks, furniture, outdoor piping, boat docks, and playground equipment. China is the largest producer of shipping containers by volume and observes high demand for LLDPE material from neighboring economies such as India, Japan, Indonesia, and Vietnam. Implementation of trade agreements, such as AFTA and APTA, have led to an increased demand for shipping containers, which will provide a positive scope for the consumption of LLDPE.
The demand for toys is growing rapidly in Asia owing to the innate need to fulfill children’s demands. This has led to the increased expenditure on toys and playground equipment for recreation. Toy products include pedal cars, playhouse, climb & slide along with marine recreations such as kayak and canoes. Additionally, the concept of day care and play school has witnessed a high growth in this region over the last few years. These schools also procure playground equipment and toys to engage the minds of the children. This concept has further influenced the penetration of rotomoulded products in this sector.
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Low per capita consumption of plastic products in India as compared to developed countries suggests that India hold huge market potential in the long term. The plastic industry is one of the fastest growing industries in the country, thus creating opportunities for the rotomoulding powder market. The availability of 2.5 MTPA plastics in the northern part of the country will spur downstream investment in the plastic industry.
Key business competitors operational in Asia Pacific rotomoulding powder market are SCG Chemicals. Co., Ltd, Reliance Industries Limited, LyondellBasell, and Arkema. Notable industry players are adopting various strategies such as mergers, acquisitions, joint ventures and expansion of manufacturing volumes and facilities in the market. For instance, in June 2015, A. Schulman, Inc. acquired outstanding shares of HGGC Citadel Plastics Holdings, Inc. This strategy will help the company to expand its presence in North America and enhance its product portfolio in fast growing sectors including aerospace, medical and oil & gas.
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