Rotomoulding powder market is expected to witness tremendous growth on account of the product’s immense application scope across the automotive sector. Rotomoulding powder exhibits several beneficial properties like UV resistant and flame retardant, making it ideal for vehicle components.
Additional factors like minimal polluting by-product and ease of manufacturing might enhance the product demand over the forthcoming years. Rapid growth of the industrial sector coupled with increasing implementation of favorable government policies is anticipated to stir rotomoulding powder market outlook by 2024.
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Proliferating demand for automotive parts like air ducts, bumpers, three-wheeler bodies, crash guards, seating systems and engine covers could enhance the business outlook for rotomoulding powder manufacturers.
Slated below are a few of the ongoing trends stimulating the demand for rotomoulding powders:
Surging demand for storage units -
Rotomoulding powder has robust applications in storage containers and tanks, which are widely used in diverse end-user segments. Progressing demand for chemical tanks, fuel tanks, solid waste management products and material handling products could broaden the industry horizon for rotomoulding powder manufacturers. Key features of the material like seamless construction, flexibility, low cost, double-wall products, easy to vary thickness and foamed products may elevate the adoption of rotomoulding powder in storage tanks.
Favorable opportunities across the Asia Pacific -
Rampant growth of residential and commercial infrastructures owing to burgeoning population base and increasing income levels could drive the demand for rotomoulding powders in APAC. Earlier in 2017, the regional market had accounted for more than USD 2 billion and is predicted to maintain upward trend over the predicted timeframe.
Rising usage of plastic material in automobiles will favor the demand for rotomoulding powder in Asia Pacific. Automakers are adopting plastic materials in their vehicles as they offer high tensile strength, reduced vehicular weight and low packaging properties. Rotomoulding is an ideal way of making complex parts as it can easily accommodate production complexities like moulded inserts, stiffening ribs and different surface textures while providing a uniform wall thickness.
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Escalating demand from North America -
North America is considered to be a lucrative avenue for rotomoulding powder companies and is predicted to cross 5,000 kilotons by the end of 2024. Constant technological development across material handling, construction equipment and leisure products could positively impact the regional market growth. North America has a strong presence of major raw material suppliers and manufacturing firms which could massively contribute to the rotomoulding powder market share.
Implementation of strategic business ideas -
Established industry participants like Broadway Colours, Green Age Industries, Pacific Poly Plast, A. Schulman Inc, Phychem Technologies, Matrix Polymers, Du Pont, Reliance Industries Limited, The Dow Chemical Company, BASF, Lyondell Basell and Exxon Mobil are engaging in innovative business expansion practices like acquisitions and mergers to expand their geographical presence and product portfolio. Taking September 2020 for instance, Step2 Co. announced that it has acquired rotational molding equipment assets from CI Rotomolding USA to expand its distribution and manufacturing capacity.
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