According to a report by GMI, Plastomer market is slated to reach US$ 3.1 billion by 2025, rising at 6% compounding annual growth rate between 2019 to 2025. Recent research and development activities by the main automotive companies in the market are expected to drive demand for its interiors, thereby likely to positively impact plastomer market in the coming years. The major automotive manufacturer delivered substantial growth rate in the recent years mainly due to growing middle class population along with rising socio-economic factors in Asia Pacific.
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Plastomer are widely applicable for automotive interior applications such as seat belts which are made of polyester or nylon. Polyester is composed of petrochemical para xylene and ethylene (olefin). They exhibit properties such as easy processability, flexibility, durability, etc. and thus makes it highly compatible for designing automotive interiors. The aforementioned trends will in turn boost product demand and therefore will make significant impact on the plastomer market by 2025.
Bioplastic packaging penetration in the market is likely to hinder the overall plastomer market by 2025. Also, instable crude oil/raw material price trends is expected to create hindrance in the growth of plastomer market in the forthcoming years. However, some of the product manufacturer have already established long term supply agreements for crude oil and hydrocarbons to meet the rising product demand from various end-user sector such as healthcare, construction, packaging, automotive, etc. which will help generate positive gains for the plastomer market in the near future.
Ethylene hexene plastomer market is predicted to display growth close to 6% in the near future. Ethylene hexene showcase higher tensile strength and elongation at break than other polymer with similar comonomer content. These properties makes it highly preferable for its use in automotive parts, packaging films, cables, etc. Packaging films designed using ethylene hexene plastomer exhibit superior properties including durability, high impact resistance, etc. which will help make noteworthy contribution to plastomer market by 2025.
Browse complete, “Plastomer Market Size By Product (Ethylene Propylene, Ethylene Butene, Ethylene Hexene, Ethylene Octene), By Applications (Adhesives, Compounding Foams, Food Packaging, Non-Food Packaging, Wire & Cables, Automotive), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, Belgium, Netherlands, China, India, Japan, Australia, South Korea, Indonesia, Malaysia, Singapore, Thailand, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE, Kuwait, Qatar), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019-2025” report,
Plastomer market for non-food packaging constituted approximately USD 500 million in 2018. Plastomer is widely applicable in processing packaging materials such as films for medical/healthcare, personal care, electrical components, etc. Changing manufacturing trends and technological innovation has contributed significantly to the pharmaceutical industry. For instance, worldwide prescription drug sales are projected to grow at a CAGR of 6.5% in the forecast time period. The growth in pharmaceutical industry will further boost plastomer demand for packaging material, which will result in driving the plastomer market in the forthcoming years.
Europe plastomer market contributed approximately USD 400 million in 2018. This is credited to robust plastomer demand from personal care and pharmaceutical industry in the region. According to Cosmetics Europe: Personal Care Association, all the companies in the cosmetic industry spend 5% of their annual turnover on R&D and thus totaled USD 2.35 billion in 2017. This is to promote consistent innovation and development, which in turn will drive the packaging material demand and subsequently plastomer demand, resulting in driving the overall plastomer market in the forecast timeframe.
Few of the plastomer manufacturer present in the market are Dow Chemical, Exxon Mobil, Royal Dutch Shell, Borealis, Chevron Phillips, Lyondellbasell, Westlake Chemical Corporation and SABIC. Some of these industry players are engaged in forming joint ventures to attain significant market share for plastomers. For instance, Chevron Phillips Chemical Company and Sea-Land Chemical Company, a leading specialty chemical distributor, have expanded their collaboration to include the AlphaPlus brand of normal alpha olefins. Sea-Land Chemical Company will strategically target distribution to customers requiring small volume and drum quantities. The distribution agreement between the two companies will cover the U.S. and Canadian territories.
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Partial Chapters from Table of Content:
Chapter 2. Executive Summary
2.1. Plastomer industry 360° synopsis, 2014 – 2025
2.1.1. Business trends
2.1.2. Product by application trends
2.1.3. Application trends
2.1.4. Regional trends
Chapter 3. Plastomer Industry Insights
3.1. Industry segmentation
3.2. Industry size and forecast, 2014 – 2025
3.3. Industry ecosystem analysis
3.3.1. Profit margin analysis
3.3.2. Value addition
3.3.3. Raw material analysis
3.3.4. Distribution channel analysis
3.3.5. Vendor matrix
188.8.131.52. List of key raw material suppliers
184.108.40.206. List of key manufacturers/distributors
220.127.116.11. List of key/potential customers
3.4. Industry impact forces
3.4.1. Growth drivers
18.104.22.168. Strong product demand from medical/healthcare packaging industry in North America
22.214.171.124. Rapidly growing food packaging industry in Asia Pacific
126.96.36.199. Rising construction industry in Asia Pacific and the Middle East
3.4.2. Industry pitfalls & challenges
188.8.131.52. Fluctuating raw material prices and evolving regulations against polymers
184.108.40.206. Penetration of bioplastic films for packaging applications
3.5. Regulatory landscape
3.6. Growth potential analysis
3.7. Company market share analysis, 2018
3.7.1. Strategy dashboard
3.8. Innovation & Sustainability
3.8.1. Future trends
3.8.2. Technology landscape
3.8.3. Patent analysis
3.9. Porter’s analysis
3.9.1. Supplier power
3.9.2. Buyer power
3.9.3. Threat of new entrant
3.9.4. Industry rivalry
3.9.5. Threat of substitutes
3.10. Regional price trends
3.10.1. Cost structure analysis
220.127.116.11. R&D cost
18.104.22.168. Manufacturing & equipment cost
22.214.171.124. Raw material cost
126.96.36.199. Distribution cost
188.8.131.52. Operating cost
184.108.40.206. Miscellaneous cost
3.10.2. Price by product
3.10.3. Price by application
3.11. PESTEL analysis
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