APAC Rotomoulding Powder Market Size worth $7 Bn by 2024
Published Date: May 23, 2019 Authors: Kunal Ahuja, Amit Rawat
APAC Rotomoulding Powder Market size is estimated to surpass USD 7 billion by 2024; according to a new research report by Global Market Insights, Inc.
High demand for storage tanks in residential, industrial, commercial, and agricultural segments will propel the APAC rotomoulding powder market. Asia Pacific region has witnessed several upcoming agrochemicals and energy generation plants to achieve self-sufficiency. These industries have a high demand for recycled and fresh water and extensively rely on storage tanks for their process which will, promulgate the demand for rotomoulded tanks.
Rising construction expenditure in economies such as Singapore, Indonesia, Malaysia, and Vietnam will propel the demand for rotomoulded powder in the construction industry. The industry uses plastic extensively in structural components, bath & sink units, overhead tanks, window & door frame, and interior finishes. PVC is a commonly used plastic in building construction as it is cost effective and resistant to water & other chemicals. It also acts as a thermal insulation and has water proofing advantages.
APAC logistics industry is considered as high revenue generating across the globe owing to growth of trade and e-commerce industry. The growth of these sectors will increase demand the for material handling equipment during transportation, loading, and unloading of goods. Increasing consumer expenditure on products & services will further support the logistical and warehousing activities thereby accentuating the rotomoulding powder market growth in the material handling industry.
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Polyethylene is largely used in rotomoulded products. It is used for manufacturing variety of products in various segments including agriculture, chemical tanks, medical, construction, and automotive components. Demand for polyethylene will surge due to collapse in imports of recycled PE as Chinese government has put heavy import duty on it. Physical properties such as stiffness, rigidity and stress resistance coupled with a wide range of application of rotomoulded LLDPE products will fuel the APAC rotomoulding powder market growth .
Browse key industry insights spread across 200 pages with 167 market data tables & 12 figures & charts from the report, “Asia Pacific Rotomoulding Powder Market Size By Material (Polyethylene, [Linear low-density polyethylene, High-density polyethylene, Medium-density Polyethylene, Low-density Polyethylene], Polypropylene), By Application (Tanks, Containers, Automotive, Construction, Material Handling, Leisure, Toys, Others), Industry Analysis Report, Country Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
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.
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 APAC 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.
APAC Rotomoulding Powder Market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2013 to 2024, for the following segments:
APAC Rotomoulding Powder Market By Material
- Linear low-density polyethylene
- High-density polyethylene
- Medium-density polyethylene
- Low-density polyethylene
APAC Rotomoulding Powder Market By Application
- Material Handling
The above information is provided for the following countries:
- South Korea