Asia Pacific Rotomoulding Powder Market Analysis

Asia Pacific Rotomoulding Powder Market Analysis

Polyethylene segment accounted for around 80% of the Asia Pacific rotomoulding powder market in 2017. Polyethylene is among the well-known thermoplastic used as raw material for manufacturing a variety of consumer products. It is used in various segments including chemical & pharmaceutical, agriculture, medical and industrial owing to its properties like thermal and UV stability. Demand for polyethylene is expected to increase owing to the increasing consumption of high-density polyethylene (HDPE). HDPE is extensively used in automobile, construction and electronic segments owing to its rigidity, lightweight, and flexibility.

HDPE is used in applications such as containers, agricultural films, carton & box liners, bakery bags, envelope material, retail bags, grocery sacks, shipping sacks, and bottles. It is the most sturdy and inflexible variety of polyethylene. The exceptional down-gauging property of HDPE is driving its industry demand from the films and sheets segment. However, the selection of materials is highly dependent on the budget, application requirement, and consumers’ choice of the product.

Containers segment is projected to witness over 17% CAGR up to 2024. Plastic containers have a variety of applications in personal care, food & beverage, pharmaceutical products, and storage. Increasing demand for tough & safe for use containers will increase the demand for rotomoulding powders in the market. Rapid growth in the food production & food processing industry will fuel segment growth as many containers find application in storage, transportation, and packaging of food products.

Leisure segment is expected to grow at a rapid pace owing to increased consumer spending, change in traveling trends and rising number of tourist destinations. Use of rotomoulded powder for manufacturing outdoor plastic furniture at tourist destinations is growing rapidly owing to features including easy maintenance, lightweight, sturdiness, and resistance to environmental stress.
 

China accounted for over 50% of the overall rotomoulding powder market share in 2017. High investments in commercial and residential developments will propel the demand for rotomoulded products. Banks offering leverage for infrastructural projects will surge the demand for these products in various applications will boost the demand for rotomoulding powder. Rapid urbanization and increasing consumer spending coupled with rising disposable income have resulted in the demand for rotomoulded products including furniture, leisure products, automobile, household, and industrial appliances.
 

Increasing use of rotomoulding powder to produce consumer electronics, tableware, fuel tanks, pipes, and fittings, etc. will drive the rotomoulding powder market in Vietnam. The tourism and leisure industry offer new growth avenues for the penetration of rotomoulded commodities. Additionally, Government regulations in Vietnam focus procuring rotomoulded components from domestic automotive firms rather than importing it, which will further propel market growth.