Plastomer Market Analysis, Growth Opportunities, and Research Report
17 June 2019, The global
plastomers market is subject to witness a substantial growth due to the rise in demand
for plastomers products from developing economies across the globe. Increasing
adoption of plastomers by food & beverages manufactures is expected to
drive the growth of the market over the upcoming years. Globally, the market is
predicted to generate massive revenue over next seven years, providing numerous
opportunities for market players to invest for research and development in the
plastomers market.
Rising popularity of
plastomers in comparison with traditional polymers in numerous industrial
application is expected to plays a significant role in driving the market
growth over the forecast period. Packaging, automotive and polymer modification
are some of the typical application of plastomers. Other application of
plastomers include food & beverages pacing solutions, non-food and stretch
& shrink film.
Increasing demand for
high quality packaging solutions enhance the shelf life of food and beverages
is anticipated to drive market progress in the near future. Use of plastomers
helps to maintain freshness of food product thus driving industry growth at
steady rate globally.
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A plastomer is commonly referred as a polymer material
that merges properties of elastomers and plastics thus offering rubber-like
properties alongside the processing ability of plastic. In addition, increasing
awareness among manufactures in regards to advantages of plastomers is expected
to fuel the market growth in the following years. Plastomers offer advantages
such as higher scalability, flexibility, sturdiness and electrical resistance.
Some of the typical use of plastomers include roof linings.
The market is broadly categorized into three major
segments based on the application type such as packaging, automotive, and
polymer modification. Packaging is considered as one of the faster growing
segment in the plastomers market with substantial revenue generation in the
last few years. Growing popularity of plastomers in the packaging segment is
attributed to the higher market penetration and easy availability.
The market is divided by region as North America, Europe,
Asia-Pacific, Latin America and Africa. North America has shown major growth in
recent years owing to the rise in the implementation of latest technologies in
packaging sector, increase in the number of research & development
activities in the region and existence of well-established manufacturing infrastructure.
Asia-Pacific region is predicted to hold major market
share in the plastomers market with massive growth in forecast period.
Countries such as India, China and Singapore are leading the Asia-Pacific
market with strong economic growth, increasing manufacturing activities, and
significant investment by leading industry players considering potential growth
opportunities in the region.
The key players in the plastomers market are Borealis
Co., Dow DuPont Co., Exxon Mobil, Inc., Mitsui Chemicals, Inc., Sumitomo
Chemicals, Inc., and SABIC Inc.
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