According to the latest report published by Acute Market Reports “Global Rotomoulding Powder Market - Growth, Future Prospects and Competitive Analysis, 2023-2030,” the global rotomoulding powder market was valued at US$ 9,773.3 Mn in 2021, poised to grow at the CAGR of 18.2% from 2023 to 2030.
Browse the full report Global Rotomoulding Powder Market - Growth, Future Prospects and Competitive Analysis, 2023-2030 report at https://www.acutemarketreports.com/report/rotomoulding-powder-market
Market Insights
Rotomoulding is the process of moulding plastic without the application of pressure. It is one of the most popular process used for the manufacturing of plastic products made of variety of material such as polyethylene, PVC plastisols, polycarbonate, nylon, polypropylene, fluoropolymers, and others. Rotomoulding powder finds application in manufacturing of various consumer products, storage tanks, and automotive components. Rotomoulding powder finds promising application in telecom ducting, flexible packaging, industrial packaging, blow moulding, etc. expected to boost the demand for rotomoulding powders. Moreover, advanced features such as UV resistant and flame retardant capabilities makes it an ideal material for production of automotive component and industrial products which in turn projected to drive the global rotomoulding powders market. Due to urbanization trend, government spending on infrastructure, and increasing fresh water withdrawal rate plastic water tanks are in huge demand resulting in increased demand for rotomoulding powders in developed economies.
Based on material type, polyethylene is identified as the largest segment in global rotomoulding market and projected to maintain its dominance in global rotomoudling powder market during the forecast period. Growing demand for the products made up of linear low-density polyethylene (LLDPE), high-density polyethylene (HDPE), low-density polyethylene (LDPE) and cross-linkable polyethylene (XLPE) for the manufactring of various products such as water tanks, septic tanks, decorative articles and furniture are expected to fuel the growth of the segment during the forecast period.
Based on application, Tanks is the most dominant segment among all applications. In terms of revenue share, tanks is anticipated to witness high growth in overall rotomoulding powder market. However, environmental concerns over recycling and disposal of plastic waste is expected to restraint the market growth of rotomoulding powder. Further, stringent regulation concerning recycling and disposal of plastic waste add to the manufacturing cost, which in turn is expected to increase the overall manufacturing cost of rotomoulding powder.
Based on the geography, North America is the largest region in terms of value and volume consumption of rotomoulding powder, globally. Growing demand for agricultural and industrial tanks is projected to drive the demand for rotomoulding powder in the region during the forecast period. Moreover, rebound in furniture, interiors and construction industry in North America region also contributing to the overall rotomoulding powder market growth. Asia-Pacific is the fastest growing market in global rotomoulding powder market during the forecast period. Economies such as China and India are characterized by growing population with rising disposable income, rapid economic growth, and growing end-use industries such as commercial and residential construction, automotive, and medical end-use industries consequently fuelling the growth of rotomoulding powder market in the region.
Key manufacturers of rotomoulding powder market includes BASF SE, Reliance Industries, DowDupont, Phychem Technologies, Matrix Polymers, and Exxon Mobil Corporation among others.
