Top 3 trends fueling rotomoulding powder market in Asia Pacific

11:39 AM, 27th January 2021
Robust application outlook in storage containers and tanks which are further used in diverse end-user segments could enhance the Asia Pacific rotomoulding powder market outlook.

The increasing usage of plastic materials in automobiles could fuel the demand for rotomoulding powder in Asia Pacific region. Automakers nowadays are more inclined towards using plastic materials as they provide high tensile strength, low packaging properties and reduced part weight.

Rotational moulding is ideal for creating hollow articles and complicated shapes. It easily accommodates production complexities such as moulded inserts, different surface textures, and stiffening ribs while giving a uniform wall thickness.

Robust application outlook in storage containers and tanks which are further used in diverse end-user segments could enhance the Asia Pacific rotomoulding powder market outlook. In addition, rampant growth of the automotive sector in China, Japan, and India might augment the industry forecast over the forthcoming years.   

Mentioned below are some of the ongoing trends strengthening the Asia Pacific rotomoulding powder market outlook.

Promising growth opportunities across India -

India is considered as one of the prominent countries for rotomoulding powder manufacturers owing to its rapidly developing automobile sector. A strong demand for lightweight recreational vehicle equipment and components that aid in lowering the vehicle’s fuel consumption could expand the industry landscape for regional players.

Reliance Industries, which is headquartered in India, is one of the prominent rotomoulding players in the whole world and has constantly invested in technological development and building strong distribution channels. The company offers a wide range of Polyethylenes (PEs) including HDPE, LLDPE, and LDPE. The Low-Density Polyethylene (LDPE) is mainly utilized in flexible packaging, moulding, and extrusion coating applications.

Meanwhile, the High Density Polyethyene (HDPE) contributes to heavy duty packaging, high-pressure pipes, telecom ducting, blow moulding, and pipe coating applications.

Growing popularity of storage tanks -  

Increasing concerns over water scarcity in Vietnam, India, and the Philippines have driven the demand for sturdy, lightweight, easy-to-install, and low-cost storage tanks. Estimates suggest that from storage tank application segment, APAC rotomoulding powder market share might surpass $3 billion by the end of 2024.

Rising need for a hygienic and economical storage alternative for prolonged durations in rural regions could expand the product presence over the predicted timeframe. In addition to this, the respective governments are also taking some necessary steps to promote the use of rainwater harvesting facilities in commercial and residential spaces.

Ample growth opportunities for manufacturers

Prominent players like Reliance Industries Limited, SCG Chemicals Co Ltd, Dalian Bona Biological Technology Co Ltd and LyondellBasell are engaging in innovative business expansion practices like acquisitions and mergers to expand their geographical presence across Asia Pacific as well as product portfolio.

The rapid expansion of industrial and residential sectors could bring in some favorable business opportunities for rotomoulding powder manufacturers in the region. Additional factors like evolving social status, shifting trends in consumer preferences and increasing disposable income could stimulate the demand for rotomoulding powder-based components in new-age vehicles, diversifying growth opportunities.

The growing concern over the generation of hazardous gases, toxins, and chemicals from these plastic materials could endanger the environmental balance and act as a hindering factor for market growth. Governments across the APAC are imposing stern environmental norms to curb the increasing levels of toxicity. This could in turn negatively impact the production process of moulding powder-based products. 

However, a wide application outlook in automotive and construction sectors will positively impact Asia Pacific rotomoulding powder market trends in the future.

Get detailed analysis on the Asia Pacific Rotomoulding Powder Market: https://www.gminsights.com/request-sample/detail/3341

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Website: https://www.gminsights.com

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