Global Plastomers Market: Overview
Plastomers are polymers with combined properties of elastomers or rubbers and plastics. These flexible materials offer properties such as excellent clarity, gloss, and elasticity, and are often preferred over a variety of polymers in a vast set of packaging applications. Plastomers are also often utilized as polymer modifiers owing to the improved durability, flexibility, and impact strength they offer to the final product. In the past few years, plastomers have witnessed a vast rise in popularity as compared to conventional polymers in a number of applications, thus fueling their global demand.
The report projects that the market will expand at a promising pace in the next few years. The vast rise in demand for a variety of plastomers across end-use industries, fast paced industrialization across emerging economies, and the thriving packaging industry are all working in favor of the global plastomers market. However, fluctuating costs of raw materials and the implementation of stringent environment protection norms could hamper the overall development of the market to a certain extent.
Global Plastomers Market: Segmentation
To present a more detailed assessment of every facet of the market, it has been segmented on the basis of criteria such as technology, product type, application, and geography.
On the basis of type, the market has been segmented into ethylene vinyl acetate (EVA) plastomers, polyethylene (PE) plastomers, and polypropylene (PP) plastomers. Of these, the PE and EVA varieties are the most popular ones and contribute a large portion in the overall revenue of the global plastomers market. High demand across polymer modification and construction applications is expected to help these segments witness healthy rise in demand over the forecast period as well.
The polypropylene segment is benefitting from the increased demand for flexible thermoplastic olefins and sound deadening sheets in the automotive sector. Moreover, the unique properties of polypropylene plastomers as compared to conventional polymers make them suitable for use across a variety of crack-resistant packaging products, wire and cables, and high-impact consumer goods.
Based on application, the market for plastomers gain massively from the packaging industry. Other lucrative end-use industries include automotive, construction, polymer modification, electrical, and medical. The packaging industry is expected to emerge as the leading revenue generator over the report’s forecast period owing to the vast usage of plastomers in shrink films, stretch films, food packaging films, and non-food packaging films.
Global Plastomers Market: Regional Overview
Geographically, the report assesses the plastomers market across regions such as Latin America, North America, Europe, Asia Pacific, and Middle East & Africa. The market in Asia Pacific is considered highly lucrative owing to the positive development of industries such as automotive, agriculture, consumer goods, packaging, and polymer modification in the past few years. Over the report’s forecast period as well, the market for plastomers in the region is expected to expand a promising pace as rising population and increasing disposable incomes are expected to fare well for the above mentioned industries, which could, in turn, fuel the uptake of plastomers. The market in Europe is expected to exhibit a significant pace of expansion over the forecast period owing to increased focus and rising R&D activities in the packaging sector.
Global Plastomers Market: Competitive Dynamics
The report presents a comprehensive assessment of the competitive dynamics of the global plastomers market, covering data pertaining to recent developments and business profiles of some of the leading companies in the market. Some of the leading players operating in the global plastomers market profiled in the report are The Dow Chemical Company (U.S.), Saudi Basic Industries Limited (SABIC) (Saudi Arabia), Sumitomo Corporation (Japan), Plastomer Corporation (U.S.), Mitsui Chemicals (Japan), LG Chem Limited (South Korea), SK Group (South Korea), Borealis AG (Austria), Alpha Group (India), and ExxonMobil (the U.S.).