Rising demand in modern flooring & waterproofing construction projects to drive APAC rotomoulding powder market
Owing to a rising demand for numerous plastic products during construction activities, Asia Pacific rotomoulding powder market has gained immense traction in recent years. Products made from rotational moulding process, also known as rotomoulding, encompass a wide range of applications including storage tanks in residential, agricultural and commercial sectors as well as industrial equipment.
Asia Pacific Rotomoulding Powder Market, By Material, 2017 & 2024 (USD Million)
Foreseeing an increased demand for rotomoulded products, rotomoulding powder manufacturers are offering a variety of polyethylene and polypropylene materials to meet the demand for high-quality plastic parts and equipment.
With a slew of material suppliers and molders present across Asia Pacific, the region continues to drive the development of cutting-edge technology for producing various aesthetic and industrial products. Realization among manufacturers that novel eco-friendly materials can now be produced has created new opportunities for APAC rotomoulding power industry.
A prominent study reveals that currently, major industries in APAC are heavily dependent on Polyethylene (PE) composites and most of the rotomoulded products are made from this material, as it is an easily mouldable, versatile, and readily available polymer which can help deliver a variety of styles, colors, and surface finishes.
Growing infrastructure spending in emerging economies of Asia is expected to boost the consumption of rotomoulded products. Nowadays, many developers are broadly using components made from PE that are designed to minimize the environmental impact of plastics on the planet by deploying them in wall coverings, window & door frames, water proofing, and flooring, enhancing the scope of APAC rotomoulding powder market.
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Modern flooring has already become the latest trend among infrastructure players, with stylish homes and workplace décor representing an image of high living standards. For high quality flooring, protection from moisture is vital because floors inside the buildings are usually covered with tiles and carpet, where penetration of water vapor through concrete slabs could lead to the failure of adhesive in tiling, staining of flooring products and fungal growth. Due to its durability, chemical resistance and load rating properties, PE is widely being accepted among rotomoulding powder manufacturers to meet different flooring needs.
Plastic industry is one of the fastest growing segments in India and PE is the most largely used plastic material by Indian companies, which accounts 43% of total consumption and indicates considerable potential for APAC rotomoulding powder market in the future. PE floorings are also being offered for outdoor tile applications to improve the aesthetic appeal of commercial and residential surroundings. APAC rotomoulding powder market is poised to register remarkable proceeds from augmented construction of housing complexes and industrial or IT parks in developing nations.
Waterproofing of the concrete structures has always been a challenging task and for simplifying the job, they are focusing more on quality of concrete and subsequent proofing solutions that play a vital role in the durability of a structure. Waterproofing a structure may account for only 2% to 3% of the overall building expenditure, but defects arising out of waterproofing failures could lead to nearly 80% of a structure’s defects. Growing need for PE waterproof membranes across emerging economies will reinforce APAC rotomoulding powder industry, with players coming up with a variety of options that not only improve aesthetics but are also environment-friendly in nature.
A large number of chemical companies have extensive operations throughout Asia-Pacific, endorsing the necessity of chemical-resistant plastic frames for industrial structures. Increasing demand for these materials will undoubtedly expand APAC rotomoulding powder market share in developing countries.
Plastic is considered as one of the best suited materials for window and door frames since it is extremely impact resistant as well as impervious to water and corrosion. It is largely deployed in the food industry for professional kitchens and other humid environments. APAC is home to several countries which experience harsh weather conditions and heavy rains are witnessed across the region, which escalate the demand for corrosion resistant door and window frames. Need for suitable plastic materials like uPVC for these products will fuel APAC rotomoulding powder market growth.
APAC rotomoulding powder industry has recently witnessed a rapid adoption in low and medium-income nations in the continent, generating considerable revenues from a host of vital applications. In fact, reports estimate that Asia Pacific rotomoulding powder market will exceed annual valuation of USD 7 billion by 2024.
Author Name : Deeksha Pant
APAC rotomoulding powder market to emerge as a prominent growth hub for investors over 2018-2024, material handling applications to drive the industry growth
Rising demand for strong and durable plastic products across a slew of industry verticals has helped augment rotomoulding powder market, given that the rotomoulding process enables the production of efficient and high stress-bearing products. Rotationally, molded parts can be manufactured from different materials, can be multilayered and the process facilitates the production of standard or even custom designed parts. As compared to other plastic molding techniques, rotomoulding is less labor-intensive and the equipment can be configured for complex shapes, offering design flexibility, enhancing the rotomoulding powder industry scope.
North America Rotomoulding Powder Market, By Product, 2017 & 2024 (Kilo Tons)
Manufacturing light, strong, corrosion resistant and durable components, whether big or small, is achievable through rotomoulding. Thus, the need for weight reduction in automobile, construction and material handling applications will boost the rotomoulding powder market consumption in the years ahead.
A wide variety or containers are available in the market for shipping and material handling, such as shipment containers, barrels and drums, refrigerated boxes and bulk containers, combined bins and military containers. The rotomoulding powder industry has gained massive remuneration owing to a large demand for small and heavy industry material handling containers worldwide. Rotomoulded crates and eskies are considered ideal for transporting vegetables, fruits, liquids and chemicals since most of such products are made from food-grade plastic. As they are long-lasting and do not deteriorate like wood or get corroded like metals, these containers can prove to be a good investment due to their utility in fulfilling innumerable material handling needs, promulgating the rotomoulding powder market. Many businesses opt for rotomoulded containers for transporting goods because their one-piece design offers a higher capacity for load-bearing and guarantees durability.
It is a well-known fact that global economic growth and the purchasing power of citizens immensely affect the material handling activities, as material handling orders are dependent on the demand for goods. The International Monetary Fund (IMF) in January 2018 had forecast that the global growth rate from 2018 to 2019 would be a strong 3.9%, indicating a positive industrial environment and the augmented need for material handling. The rotomoulding powder industry has additionally capitalized on a large number of small scale enterprises preferring rotomoulded containers and tanks for their low maintenance properties. Another promising source of revenue for the rotomoulding powder market could be the increasing number of recycling activities which require appropriate containers for sorting and handling waste materials.
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To elaborate, environmental concerns and government initiatives have emphasized the need for waste management and have led to the establishment of numerous waste recycling and metal scrapping facilities across the globe. For catering to these requirements, manufacturers have been providing customized rotomoulded containers and bins to the waste management services or recycling plants, where different kinds of materials are handled every day, even chemically reactive ones. The Asia-Pacific (APAC) region comprises of several emerging economies where recycling initiatives are intensifying and thus presents a great opportunity for the rotomoulding powder market. Recently, it was revealed that just 8 countries in APAC are responsible for 63% of the total plastic waste flowing into the oceans. Add to it, the mounting surplus of electronic and metal scrap has escalated the waste recycling industry in the region, in turn highlighting the material handling requirements.
The APAC region subsequently contributed nearly 25% to the overall rotomoulding powder market in 2017, with the increased demand for containers as well as other rotomoulded plastic products like tanks, porta-loos, components used in construction and automobile parts. Lightweight parts help to reduce the gross vehicle weight and improve fuel efficiency, leading to the deployment of rotomoulded automobile components such as fuel tanks, dashboards, instrument panels and wheel arches. Reportedly, in 2017 more than 37.1 million passenger cars were produced by just three countries combined, namely China, India and Japan. With surging population, pollution concerns and the economic uplift across most of the APAC countries, the rising investments made to expand manufacturing capacities by automakers will propel the rotomoulding powder market.
All in all, the low cost, eco-friendly production of rotomoulded containers or parts with minimum material wastage and least design constraints have prompted the material handling and automobile manufacturing segments to adopt these products. The industry growth is further aided by the efforts of rotomoulding powder market players such as BASF, Reliance Industries, ExxonMobil, Dow Chemical Company, GreenAge Industries, Pacific Poly Plast and Eco-polymers.
Author Name : Pankaj Singh