According to the latest market research study released by Technavio, the global plastomers market is expected to grow at a CAGR of more than 7% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Click here to request a free sample of this report
Technavio research analysts categorize the global plastomers market based on application type:
Global plastomers market share by application type 2015
|
Food Packaging Films |
44.5% |
|
Polymer modification |
12.5% |
|
Automotive |
10.7% |
|
Others |
9.2% |
|
Non-Food Packaging Films |
7.5% |
|
Wires and Cables |
6.2% |
|
Stretch and Shrink Films |
4.8% |
|
Medical |
4.6% |
Source: Technavio
The top four revenue contributing application segments are discussed below:
Global plastomers market by food packaging films
Food packaging films made of plastomers with about 45% market share, accounted for the largest segment in the global plastomers market in 2015. The consumption of plastomers has increased with the respective governments laying environmental regulations across the globe. This has resulted in an increase in demand for plastomer based packaging applications. Plastomers are widely used in the food packaging industry. Since plastomers are non-reactant (inert to food materials), they are used in the inner linings in milk cartons and other packaged dairy products such as cheese and yogurt. Owing to an increase in the standard of living of people in the emerging economies, the market for plastomers is expected to grow considerably as the demand for fast moving consuming goods (FMCG) products is set to rise in these regions. Plastomers are used to manufacture extrusion film products for dairy products, fresh cut meat, processed meat, and other processed food and beverage products.
“Plastomers products are replacing conventional plastic products because of their eco-friendly nature. Plastomers are helpful in improving the impact strength of the material (when it is mixed with LDPE, HDPE, and LLDPE), and therefore, the food packaging industry is adopting plastomers as a new form of packaging,” says Amber Chourasia, a senior analyst at Technavio for research on plastics, polymers and elastomers.
Global plastomers market by polymer modification applications
Polymer modification accounted for around 13% market share in 2015. It is basically used as a compatibilizer and processing aid in polyethylene terephthalate (PET) and is also used in the automotive industry as a toughener. Polymer modification not only improves toughness but also increases the uniformity of PET blends, and enhances mechanical properties such as elongation and impact strength. Plastomers imparts better strength to polyolefins such as LDPE, HDPE, and LLDPE; therefore, they are used in various applications, such as automotive, wires and cables, and others.
Global plastomers market by automotive applications
The global plastomers market by automotive application accounted for over 11% market share. Application in the automotive industry is the third-largest end-use application of the global plastomers market. Plastomers are used for exterior body parts such as exterior filler panels, wipers, rocker panels, body seals, windows and door handles, seat body, and vibration dampening pads. Some new enhancements in plastomers have made it possible for their use in automobiles for under the hood applications such as belts and hoses, clamps, fuel lines, buffer blocks for bonnets and boots, and weather stripping, and sound proofing.
Global plastomers market by non-food packaging films
The non-food packaging films had a market share of around 8% in 2015. They have better tensile strength and provide good barrier properties against moisture and odor. It has a unique feature of high gloss and transparent packaging. Since plastomers have a modified molecular structure, the sheets have better resistance against tear than conventional plastics.
The top leading vendors operating in the global plastomers market are:
- Dow Chemical
- SABIC
- Borealis
- ExxonMobil
- Sumitomo Chemical
Other prominent vendors in the market include Alpha Plastomers, LG Chem, and Mitsui Chemicals.
A more detailed analysis is available in the Technavio report titled, ‘Global Plastomers Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Smart Polymers Market 2016-2020
- Global Formaldehyde Market 2016-2020
- Global Bioplastics Market 2016-2020
To read more press releases- click here.
For any assistance or query, please contact our media team at:
media@technavio.com
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
