The establishment of plastomers
has provided the industry with an impeccable set of techniques for the fabrication of new packaging material systems, which have enriched with heat seal properties and improved toughness, further driving the growth of the plastomers market. Their ability to impart the new level performance properties in every application is set to fuel the overall demand for plastomers in the next five years. The growing popularity of plastomers over conventional polymers in various applications plays a significant role in driving the market. Packaging, automotive, and polymer modification are the most important applications of plastomers.
The packaging industry is the major revenue contributor to the plastomers market, as packaging applications, including food, non-food, and stretch & shrink film, constituted to maximum share of the total market in 2015. The packaging industry is growing at steady rate globally, with emerging countries witnessing high growth potential. The raw material for plastomers includes crude oil/natural gas. Polyolefin are produced by polymerization, wherein short-chain hydrocarbons are polymerized in the presence of catalysts to form long-chain polymers.
The value chain of the plastomer market
starts with the sourcing of basic raw materials. The value chain includes the manufacturing of plastomers and the delivery of the product for end-use applications. Some of the major applications of plastomers are film-food packaging, film-non-food packaging, film-stretch & shrink film, automotive, wires & cables, polymer modification, medical, and others. Due to the slow growth in the population along with rise in importance of organic food products in the market is affecting the market growth of the plastomers. Films manufacture for food packaging applications account for a major consumption of the plastomers.
The launch of plastomers has stipulated the industry with enormous prospects for the expansion of new packaging materials, which have better heat seal properties and improved toughness, further driving the growth of the plastomers market. Their ability to impart unique performance properties in every application is fueling the overall demand for plastomers. High-quality packaging not only improves the shelf life of food and beverages but also maintains their quality and freshness. Liquid packaging, food packaging, and industrial film make up more than half of demand, accounting for XX%, XX%, and XX%, respectively, with automotive (XX%), industrial film (XX%), and electrical (XX%), rounding out demand.
Plastomers market is estimated to see an upsurge during the forecast period and Americas would be leading the charge. This trend is being followed by Europe. However APAC is the fastest growing market during the forecast period. The demand in this region is supported by emerging markets such as China, India and Korea. The market size of plastomers is estimated to reach $XX billion by 2021, at a CAGR of XX% between 2016 and 2021. The key companies profiled in this market research report are:
- The Dow Chemical Company (U.S.)
- Saudi Basic Industries Limited (SABIC) (Saudi Arabia)
- Borealis AG (Austria)
- Mitsui Chemicals (Japan)
- LG Chem Limited (South Korea)
- ExxonMobil (U.S.)
- Sumitomo Corporation (Japan)
- SK Group (South Korea)
- Plastomer Corporation (U.S.)
- Alpha Group (India).