Press release
What’s driving the Asia Pacific Rotomoulding Powder Market Growth? A. Schulman, Inc., Tradeindia.com-Infocom Network Ltd, Reliance Industries Limited, LyondellBasell, Arkema, The Dow Chemical Company, SCG, Asahi Kasei America
Asia Pacific Rotomoulding Powder Market
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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Growth drivers
1. Increasing scarcity of water and demand from other tank–based applications in Asia Pacific
2. Positive outlook for the construction sector in developing countries
3. Increasing automotive unit sales that require rotomoulded parts and components
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.
High-density polyethylene is expected to witness CAGR over 18% in Asia Pacific rotomoulding powder market up to 2024. Key properties such as high rigidness, good moisture resistance, chemical resistance and low-cost driving product sales in packaging industry. Packaging industry is growing at a rapid pace accounting to largest share of plastic consumption and accounted for over 24% share in 2017. Increasing FDI in the region will support adoption of new technologies in warehousing, packaging and cold chain, thus providing lucrative opportunities for manufacturers over the projected timeframe.
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Asia Pacific rotomoulding powder market from tanks is estimated to exceed USD 3 billion by 2024. Increasing concern pertaining to water scarcity in India, Vietnam, Philippines and other Asian countries will drive demand for light weight, durability, easy installation, and low-cost storage tanks. Growing demand for economical and hygienic option to store water for prolonged periods in rural areas will boost product sales. In addition, continuous government promotion regarding rainwater harvesting facility in every residential and commercial space will further surge the demand for tanks in the forthcoming years.
Asia Pacific rotomoulding powder market is highly competitive in nature due to the presence of already existing manufacturers and emerging players in the industry. Key industry participants are SCG Chemicals. Co., Ltd, Reliance Industries Limited, LyondellBasell, and Dalian Bona Biological Technology Co., Ltd. Manufacturers are expected to develop strong relationship with other participants in value chain to tackle sourcing requirements and maximize the output.
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Global Market Insights, Inc.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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