Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the global rotomoulding powder market. In addition, complete analysis of changes on the global rotomoulding powder market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. During COVID-19 pandemic, global rotomoulding powder market was more or less affected due to supply chain distribution, declining demand for rotomoulding powder from various application like consumer products, storage tanks, automotive components, industrial packaging which has certainly affected the market growth to major extend. However, post COVID-19 the market has witnessed the rising new growth opportunities and is expected to have emerging demand in upcoming years.
Rising in demand for plastic products as decorative items, attractive showpieces, interiors is expected to drive the growth of the rotomolding powder market. Furthermore, furniture components such as chairs, sitting benches, sofa, shoe fitters are other major application driving industry share. Rotomoulding process offers better efficiency compared to conventional counterparts will fuel product demand.
Medical applications include spine board, end panel of medical equipment and medical bed rest are specially manufactured from rotomoulding powder material. Moreover, recreational products including sporting toy sledge, boat seats, and golf case & accessories are among key application area escalating revenue size. Increasing usage of plastic material in large application owing to excellent weather resistance, long durability, and a cost-efficient advantage is anticipated to fuel rotomoulding powder market share during the forecast period.
Increase in demand for hollow plastic products including playground equipment, storage tanks, and containers will deliver lucrative business opportunities for manufacturers. In addition, upsurge in water sports activities in the U.S, Canada, and Mexico have positively impacted the usage of kayaks in sports adventure and sailing events leading to the usage of remolding powder. Furthermore, stringent government regulations to curb carbon emissions and to reduce weight of the vehicle to increase fuel efficiency of the vehicle has led to adoption of plastic components in vehicles.
The major restraining factor for the global rotomoulding powder market is high cost, consumer acceptance, microbial risks and allergic reactions. The different advantages of rotomoulding powder are mostly observed in various industry however number of application consumer often have various allergic reactions due to rotomoulding powder. Besides, the microbial risks is one major concern of application which has certainly created hurdle for the market growth. Furthermore, consumer acceptance for rotomoulding powder is expected to hamper the market growth. These factors are expected to restrain the market growth over the forecast period (2022-2028).
As there are strict regulations regarding disposal and recycle of plastic waste, it further adds to the manufacturing cost and increases the overall price of the powder. This factor is estimated to limit the growth of rotomoulding powder market in the upcoming years.
The report provides in-depth analysis of global rotomoulding powder market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand for various rotomoulding powder in various applications has led the increasing demand for market and is expected to witness the growth at a specific CAGR from 2022-2028.
The global rotomoulding powder market comprises of different market segment like material, application, and geography.
The material studied in the global rotomoulding powder market are polyethylene, low density polyethylene (ldpe), linear low-density polyethylene (lldpe), medium density polyethylene (mdpe), high density polyethylene (hdpe), pvc plastisols, and polycarbonate nylon polypropylene. Polyethylene rotomoulding powder captured over 85% rotomoulding powder market share in 2021. Increasing demand for polyethylene pallets in manufacturing owing to the smaller size. These products are not recommended for direct usage in rotational casting owing to large particle size lowers product quality. To obtain desired output requires smaller particle size to transfer sufficient heat from mold to powder. Particle size improves melting flows, moldability, and development of physical properties during the process. Polyethylene powers show excellent molding, thermally stable, and superior strength benefits are propelling the rotomoulding powder market.
The global rotomoulding powder market finds its major application in consumer products, storage tanks, automotive components, industrial packaging. Tank is likely to gain major market share during the estimated time period. Rotomoulding storage tanks captured maximum market share owing to lightweight advantages in several countries. Storage tanks captured large application share in residential building owing to high durability, high-capacity advantages instigating industry share. Cost effective product and lightweight benefits have gained wide attention from the industrial application in chemical & oil industry. Increasing building and construction in several countries along with rising water scarcity in the different region will boost rotomoulding powder market size.
The global rotomoulding powder market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW). North America is likely to witness rising demand for rotomoulding powder market. The regional growth is mainly contributed by the U.S. and Canada owing to the strong presence of plastic manufacturing companies and suppliers. Increasing demand for plastic products in the U.S. owing to improved usage in varied application fueling rotomoulding powder market size. Technological advancement in leisure, material handling, and construction equipment mainly generating strong product demand across the region. Industry growth owing to the high-quality material and machinery are providing opportunities for small and medium companies to capture market share.
The competitive landscape analysis of rotomoulding powder market is certainly based range of market players operating in the consumer goods market with increasing demand for production of rotomoulding powder. Besides, number of market players offered wide range of products for different application in various geographic locations. The market has major competitive analysis based on new product launches as well as other developments.
The key players studied in market are Dow Chemical Company, BASF, Reliance Industries, Phychem Technologies, Matrix Polymers, D&m Plastics, Exxon Mobils, Chevron Phillips Chemical Company, Greenage Industries, Eco – Polymers, Perfect Poly Plast, Lyondell Basell, Petrotech Group, Pinaxis Poly Plast Llp, Broadway Colours, Roto Polymers, Starrotoplast, Naroto, Prisma Colour Limited, K. K. Nag Ltd., among others.
June 2018: A. Schulman Inc., the world’s largest chemicals, plastics and refining company, announced the expansion of its polyethylene-based range of specialty powders. The product is known as Icorene 9106. This is fully compliant with the flame retardant standard UL94 V-0. Icorene 9106 also increases safety for the molder and the end user since it is halogen-free.
Rotomoulding also known as rotational molding refers to a process that is used in the manufacture of plastic moulds without the application of pressure as compared to other moulding process. The major difference between rotomoulding and other method is that the plastic or resin powder is used to produce moulds. The rotomoulding powder melts in the mould. The mould is rotated in biaxial direction. The rotomolding powder process is cost effective and the end products are used in the manufacture of hollow articles. The global rotomoulding powder market comprises of different market segment like material, application, and geography. The material studied in the global rotomoulding powder market are polyethylene, low density polyethylene (ldpe), linear low-density polyethylene (lldpe), medium density polyethylene (mdpe), high density polyethylene (hdpe), pvc plastisols, and polycarbonate nylon polypropylene. Polyethylene rotomoulding powder captured over 85% rotomoulding powder market share in 2021. The global rotomoulding powder market finds its major application in consumer products, storage tanks, automotive components, industrial packaging. Tank is likely to gain major market share during the estimated time period. The global rotomoulding powder market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW). North America is likely to witness rising demand for rotomoulding powder market.
1) What are the drivers for rotomoulding powder market?
The key driving factors of the market are rising water sports activities and growing travel & tourism owing to improved consumer spending in water adventure events and usage of recreational boats
2) Which is the leading application segment for rotomoulding powder market?
Tank has accounted the major market share, and is expected to witness the growth at highest pace during the forecast period.
3) Which region is gaining majority of market share during the forecast period (2021-2028)?
North America is expected to gain major market share during the forecast period (2021-2028).
