Rotomolding Compounds Market

Global Market Study on Rotomolding Compounds: Polyethylene Base Resin to Remain Key Material in This Space

Market Snapshot

Newly-released industry analysis on rotomolding compounds reveals that global demand for use in storage tanks is expected to witness year-on-year (YoY) growth of 10.6% in 2021 to total 1,058.3 KT. Revenue from the consumer goods segment is expected to rise to 175.8 KT by 2031-end.

Persistence Market Research has estimated rotomolding compound sales across the globe to surge at a CAGR of 11.2% through 2031. North America and Asia Pacific are witnessing significant growth in this market, with North America itself projected to account for around 47% market share.

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Companies

  • Exxon Mobil Corporation
  • Dow Inc.
  • Chevron Phillips Chemical Company
  • LyondellBasell Industries N.V.
  • ASH Industries
  • Interplastic Corporation
  • NOVA Chemicals Corporation
  • Solvay SA
  • KMI Group Inc.
  • Braskem
  • Starrotoplast
  • Excelsior Roto Moulding Ltd
  • Roto Polymers
  • Reliance Industries Limited.
  • Matrix Polymers
  • Moharamplast S.A.E
  • Eco Polymers
  • SCG Chemicals Co., Ltd
  • FINE POLYCRAFT PVT. LTD
  • PHYCHEM TECHNOLOGIES PVT. LTD.

Valuable Insights Offered in Rotomolding Compounds Industry Survey:

  • Market Estimates and Forecasts (2016-2031)
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand Share and Market Share Analysis
  • Assessment by Product Type
  • Assessment of Import Price, Bulk Price, Contractual Price, Producer / Distributor Price
  • Certifications and Compliance Requirements
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Rotomolding Compound Sales and How to Navigate
  • Recommendation on Key Winning Strategies

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Consumption Analysis of Rotomolding Compounds from 2016 to 2020 Vs Market Outlook for 2021 to 2031

In the rotomolding compounds space, base resins and co-monomers revenue totalled over US$ 2.6 Bn in 2021, according to the annual market analysis conducted by Persistence Market Research.

Historically, from 2016 to 2020, consumption of rotomolding compounds increased at a growth rate of 6.5%. However, owing to disruptions in supply chain networks in 2020 due to Covid-19 impact, demand for rotomolding compounds was low for a couple of quarters.

Excluding this exception year, factors that have been encouraging rotomolding compound demand growth include significant growth in application segments, which mainly include storage tanks, consumer goods, automotive, packaging, and furniture.

Sales of rotomolding compounds are projected to rise at 11.2% CAGR over the decade.

rotomolding-compounds-market

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What are the Key Opportunities for Rotomolding Compound Manufacturers across the Globe?

Demand for customized lightweight plastic and decorative articles is rising owing to consumer preference for such products in everyday use. These articles are being used to enhance the appearance of homes, offices, food parks, and other spaces. Rotomolded goods can be customized as per need and can offer a new dimension to home decor and interior fashion.

Also, rotomolding offers better efficiency than conventional molding technologies. Lucrative growth opportunities come from the storage tank and consumer goods segments where lightweight plastic materials are used, and the trend is expected to continue in the near future as well due to its cost-effective and excellent physical qualities.

Furthermore, increasing adoption of plastic across the consumer goods and automotive industry in order to reduce weight is also expected to stimulate market growth.

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What Restraints are Rotomolding Compound Suppliers Facing?

Recycling of rotomolding compounds such as polyethylene and polypropylene is quite difficult. Their recycling process is complex and necessitates high operational costs. These compounds take decades to degrade, and thus, cause soil pollution as they are generally dumped at large landfill areas.

Emission of harmful gases often takes place during the degradation process of these compounds. Emission of these gases contributes to climate change, including global warming.

Also, the manufacturing process of rotomolding compounds releases toxic chemicals and harmful gases, including carcinogenic or neurotoxic substances. Damage to fetuses, juveniles, and hormonal disruption are some health issues that can be caused by these compounds. They can leach estrogenic chemicals as well.

Owing to increase in such a harmful effects, manufacturers may be forced by regulations to reduce the use of such types of resins in the coming future, which might restrain market growth to some extent.

Why are Sales of Rotomolding Compounds Gaining Traction for Use in Storage Tanks?

Global storage tank and container demand is rising due to the continuously growing population and increasing per capita water use, especially in emerging economies. As the population grows, demand for tanks and containers grows in line with requirements to store water for potable and non-potable use.

Storage tanks account for a major share of the market owing to their high capacity, high durability, and light weight. Tanks and containers are widely used in different industries, such as in the storage of chemicals, large water-storing tanks in residential buildings, and so on.

Storage tanks comprise portable tanks, water tanks, septic tanks, and big & small-sized tanks. Based on their physical properties and chemical compositions, they are being used in different segments. Rise in industrial use in order to store materials or in transportation is driving the market for tanks & containers.

Also, the problem of freshwater scarcity in different regions is anticipated to boost demand for these tanks, which will eventually result in higher demand for rotomolding compounds.

Why is Polyethylene the Most Preferred Base Resin for Rotomolding Compounds?

Polyethylene is one of the known thermoplastic resins available in crystalline structure to be used for various application among molding technologies, especially in rotomolding compounds, owing to its strong properties as compared to other resins, such as durability, lightweight, easy availability, and economic price range.

Also, polyethylene have several characteristics that make it a preferred choice for rotomolding technology - thermal stability with stabilization additives, easily ground to required mesh size, molding ability even at high temperature, excellent low temperature physical properties, and impact strength allowing use in a broad temperature range.

Country-wise Analysis

What Makes China a Demand Hub for Rotomolding Compounds?

In 2021, rotomolding compound demand in China is anticipated to increase 10.7% year-on-year, bucking initial scepticism about how the market would perform during a global pandemic. Across China, total sales of rotomolding compounds are expected to reach US$ 638.2 Mn by 2031.

China is anticipated to remain a dominant market for the consumption of rotomolding compounds. This is due to strong presence of resin manufacturers at economic price range.

Further, due to the presence of several manufacturers in the country, supply of the product remains significant. The country is also expected to remain a key exporter of rotomolding compounds across the globe.

Is the U.S. a Lucrative Market for Rotomolding Compounds?

The U.S. market is anticipated to account for nearly 90% of the overall incremental dollar opportunity to be created in the North American region. The country is also expected to witness a considerable growth rate in the market over the forecast period.

The North America rotomolding compounds industry is projected to experience more than 10% CAGR through 2031. Regional growth is mainly contributed by the U.S., owing to strong presence of tier I and tier II key resin manufacturers.

The market in the region is being fuelled by rising demand for plastic products in the U.S. as a result of enhanced utilization in a variety of applications. Product demand is primarily driven by technological advancements in leisure, material handling, and construction equipment in the North American region.

Category-wise Insights

Which Application Generates Considerable Demand for Rotomolding Compounds?

Significant amount of rotomolding compounds across the globe is used in the production of storage tanks. The segment is expected to account for around 64.1% of overall consumption of rotomolding compounds.

The storage tank segment is anticipated to witness considerable growth owing to growing demand from end users, especially from emerging economies. Furthermore, growing building and construction activities across the globe are expected to indirectly benefit demand growth of rotomolding compounds.

Which Material has High Commercial Potential in Rotomolding Compounds?

Revenue from the base resin segment of rotomolding compounds is expected to increase 10.4% year-over-year in 2021. Demand for co-monomers is anticipated to increase 8.9%, giving the combined rotomolding compounds market year-over-year growth of 10.3% in 2021.

Polyethylene resin consumption is anticipated to remain significant owing to high demand for the manufacturer of rotomolding compounds owing to its significant superior applications over other resins.

Has COVID-19 Dented the Sales Prospects of Rotomolding Compounds?

The global rotomolding compounds sector witnessed significant downfall in 2020 owing to the impact of the Covid-19 pandemic across the globe. The global supply chain was disrupted during the period causing supply-side constraints, while end user segments also witnessed a negative impact, especially the automotive segment.

However, as per Persistence Market Research Analysis, demand is expected to start clawing back from the third quarter of 2021, and is expected to return to its previous growth levels in the near future.

Competitive Landscape

Globally, the market for rotomolding compounds is fairly fragmented. Tier I and tier II players are focusing on running their production units at 100% efficiency to meet global demand and fulfill export commitments.

Key players are spending around 3-5% of their revenue on research & development for the innovation of new products and to focus on sustainable development in order to reduce carbon emission footprint.

Furthermore, tier III players are focusing on extending long-term contracts with end users to continue their climb in this space.

  • Lyondellbasell has announced the successful launching of its new startup named Ulsan PP Co, Ltd., which has 400 kg per annum polypropylene production capacity. This unit is located in the southeastern port city of Ulsan, South Korea.

Similarly, recent developments related to companies manufacturing rotomolding compounds have been tracked by the team at Persistence Market Research, which are available in the full report.

Rotomolding Compounds Industry Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

  • US$ Mn for Value
  • Tons for volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa

Key Countries Covered

  • U.S.
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • ASEAN
  • Australia and New Zealand
  • GCC Countries
  • Turkey
  • South Africa

Key Market Segments Covered

  • Material
  • Application
  • Region

Key Companies Profiled

  • Exxon Mobil Corporation
  • Dow Inc.
  • Chevron Phillips Chemical Company
  • LyondellBasell Industries N.V.
  • ASH Industries
  • Interplastic Corporation
  • NOVA Chemicals Corporation
  • Solvay SA
  • KMI Group Inc.
  • Braskem
  • Starrotoplast
  • Excelsior Roto Moulding Ltd
  • Roto Polymers
  • Reliance Industries Limited.
  • Matrix Polymers
  • Moharamplast S.A.E
  • Eco Polymers
  • SCG Chemicals Co., Ltd
  • Karina Plasticos
  • PHYCHEM TECHNOLOGIES PVT. LTD

Pricing

Available upon Request

Key Segments Covered in Rotomolding Compounds Industry Research

Material

  • Base Resins
    • Polyethylene
    • Polypropylene
    • Polyamide
    • Polycarbonate
    • PVC
    • Others
  • Co-Monomers
    • C4 Rotomolding Compounds
    • C6 Rotomolding Compounds
    • C8 Rotomolding Compounds
    • Others
  • Colouring Rotomolding Compounds
  • Others

Application

  • Rotomolding Compounds for Storage Tanks
  • Rotomolding Compounds for Portable Water Tanks
  • Rotomolding Compounds for Automotive
  • Rotomolding Compounds for Packaging
  • Rotomolding Compounds for Consumer Goods
  • Rotomolding Compounds for Furniture
  • Others

FAQs Answered in Market Study

  • What is the current global market value of rotomolding compounds?

    The global rotomolding compounds market is currently valued at over US$ 2.7 Bn.

  • What is the main factor driving demand for rotomolding compounds?

    Growing demand for storage tanks and plastic decorative items are driving sales of rotomolding compounds.

  • At what CAGR did demand for rotomolding compounds increase over the past 5 years?

    From 2016 to 2020, demand for rotomolding compounds increased at a CAGR of 6.5%.

  • What will be the demand outlook for rotomolding compounds through 2031?

    Sales of rotomolding compounds are projected to increase at 11.2% CAGR and be valued at close to US$ 7.8 Bn by 2031.

  • What are the key trends being witnessed in the global marketplace?

    Expansion and investments in R&D by key players are being witnessed in the global market.

  • What is the market share of the top 5 key manufacturers of rotomolding compounds?

    Top 5 key suppliers of rotomolding compounds account for around 25%-30% market share.

  • Which are the top 5 countries driving most demand for rotomolding compounds?

    China, the U.S., Japan, India, and South Korea are key demand centers across the globe for rotomolding compounds.

  • Which countries are key producers and exporters of rotomolding compounds?

    China, the U.S., and India are key producers and exporters of rotomolding compounds all over the globe.

  • How is the rotomolding compounds industry faring in India?

    The market in India is projected to witness a growth rate of around 10.9% over the decade.

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