Global Rotomolding Resins Market: Dynamics
The global rotomolding resins market is primarily driven by the low cost of manufacturing using the rotomolding process. Rotomolding molds are not very expensive as they are simple and have relatively low operating pressures, allowing molds to be prepared from low cost materials. The growing chemical industry coupled with the growing packaging industry, globally, is the primary growth driver for the market. Increasing opportunities in packaging, construction, furniture and automobile industries will also drive the global rotomolding resins market significantly. Additionally, the aerospace sector is a good example of an industry where rotational molding is used regularly as this sector experiences high demand for custom-made products that must be manufactured with a certain amount of precision, which can only be achieved using rotomolding, thereby uplifting the demand for rotomolding resins during the forecast period.
Of these, polyethylene is a majorly used resin and accounts for almost 80%-90% of all materials used in the rotational moulding industry. Moreover, products manufactured using rotational molding include industrial chemical tanks, agricultural tanks, industrial waste containers, potable water storage tanks, marine products, recreational equipment and many more. The rotational molding method provides more benefits compared to injection molding. One of the key benefits of rotational molding is the fact that rotational molding has the ability to produce specific and detailed designs effortlessly. Therefore, many pieces are molded as a single part by eliminating seams, thereby creating a product with superior durability.
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However, there are a few limitations related to rotational molding. In this process, some shapes and features are quite difficult to incorporate and thus anything which is more than a simple shape might slow down production time, thereby rising production costs. This can be marked as restraint for the market.
Global Rotomolding Resins Market: Segmentation
The global rotomolding resins market can be segmented on the basis of resin type, applications and region.
On the basis of resin type, the global rotomolding resins market can be segmented into:
- Polyvinyl Chloride
On the basis of applications, the global rotomolding resins market can be segmented into:
- Industrial Packaging
- Consumer Goods
- Agriculture & Chemical Storage
Global Rotomolding Resins Market: Regional Outlook
The global Rotomolding Resins market is in its growing stage. The Asia pacific market is anticipated to be the leading market for rotomolding resins in terms of both value and volume owing to the presence of a large number of end-use industries in this region, such as food & beverage, healthcare & pharmaceutical and packaging. The growth of these end-use industries in this region will directly contribute to the growth of rotomolding resins market. North America is expected to hold the second position in the global market of rotomolding resins and is expected to be followed by Europe. Asia Pacific, North America and Europe are the three key markets for rotomolding resins owing to the presence of a huge number of ma
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nufacturers in these regions. Latin America and MEA is expected to hold marginal share in the global rotomolding resins market during the forecast period.
Global Rotomolding Resins Market: Market Participants
Some of the manufacturers involved in the manufacturing of rotomolding resins are mentioned below:
- Chevron Phillips Chemical Company
- Interplastic Corporation
- Lone Star Chemical
- LyondellBasell Industries Holdings B.V.
- NOVA Chemicals Corporation.
- The Dow Chemical Company