Asia Pacific Rotomoulding Powder Market Size

Asia Pacific Rotomoulding Powder Market Size

Asia Pacific Rotomoulding Powder Market size was valued at USD 2 billion in 2017 and is expected to witness growth of more than 17.5% CAGR up to 2024.

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Increasing population and need for affordable housing options in economies including China, India, Indonesia, Japan, Thailand, and Malaysia will drive the rotomoulding market. Strong business outlook for storage tanks and material handling products owing to superior moulding efficiency of rotomoulded powder will further accentuate the market. Additionally, growing demand for hollow plastic playground equipment, toys, and containers are expected to fuel industry growth.

Improved product life cycle and low cost are the key factors supporting the demand for rotomoulding powder. The cost of rotomoulding powder is volatile in Asia Pacific owing to its high dependency on raw material imports from other regions. This has an impact on the cost of the final product. Despite that, cost of rotomoulded commodities is approximately 15% less than its market substitutes E.g. twin-sheet thermoforming and blow moulding commodities.

The furniture, interiors, and showpieces made from rotomoulding powder are expected to witness high demand in Asia Pacific owing to ease of production and exceptional stress handling capability. Rotomoulded powder furniture also find application in outdoor furniture segment as it can withstand the environmental stress more effectively as compared to traditional wooden furniture. Additionally, the increasing demand for rotomoulded products in building material, and automotive parts are anticipated to fuel industry growth.

Rotomoulding is widely adopted in the automotive industry as it helps in single-part construction. This process reduces the manufacturing cost and improves the durability & reliability of a product. Components manufactured using rotomoulding powder including battery case, bumper, interior panels, door trims and fender liners owing to its flame retardant and UV resistance properties. Additionally, increasing demand for automotive will boost the demand for rotomoulding powder in Asia Pacific.

Use of advanced digitalization and automation technologies such as the Industry 4.0 will result in improved production & profitability and an effective supply chain. The gradual shift towards providing value-added products to the customers and other end-users will drive the industry profits. Manufacturers such as LyondellBasell, Arkema, Reliance Chemicals, Dupont, and Asahi Kasei utilize cutting-edge technologies and state-of-the-art machines to maximize output via limiting downtime, cycle times, and achieving optimal energy efficiency. The processing methods used by manufacturers is vital to ensure quality during product fabrication as it is the key to the longevity and performance of the products.

High degree of urbanization in economies including India, China, South Korea, and Indonesia have led to the release of huge amounts of plastic wastes. The increasing level of plastic waste has harmful effects on the ecosystem is not recycled efficiently. Hence, there are regulations implemented for the production and use of plastics. For instance, Circulate Capital is an investment facility that is established to tackle this issue by creating a mixed financing mechanism. This mechanism eliminates access to wealth which is a barrier for the development of recycling and waste management infrastructure.