The global plastomer market size reached US$ 4.5 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 7.7 Billion by 2032, exhibiting a growth rate (CAGR) of 6.15% during 2023-2032.
Plastomer refers to a specialized polymer that exhibits properties of both elastomers and plastics. It has rubber- and plastic-like elasticity and processability, clarity and gloss-finish. It provides improved impact performance, melt strength and processability when used by itself or with blends and compounds. Plastomers are commonly used in flexible packaging, non-stretch and shrink films, molded and extruded products, wires and cables and foaming products. In comparison to the mixed polymer solutions, they can be converted to mono-material solutions that are both cost-effective and environment-friendly. Owing to this, they find extensive applications across food and beverage, packaging, automotive, polymer modification, wires and cables, agriculture and medical industries.
The steadily increasing product demand from the food packaging industry is one of the key factors driving the growth of the market. Plastomers are majorly used as a sealing and melting polymer as they have low-density and aid in preserving the quality and freshness of the food products, thereby increasing their shelf life. Furthermore, the widespread adoption of controlled plastomers in the production of medical and healthcare products is providing a boost to the market growth. Plastomers are used for manufacturing intravenous (IV) bags, continuous ambulatory peritoneal dialysis pouches, pharmaceutical ingredient bags and packaging for bioreactors.
They exhibit high packaging integrity even at low temperatures and can avoid damage in case of accidental drops. Additionally, various product innovations and the utilization of plastomers to manufacture gaskets, seals, vibration dampening and impact absorption products, acoustical sound insulation systems, cushioning, seating and hydrophobic and hydrophilic foams, are also contributing to the market growth.
2. What is the expected growth rate of the global plastomer market during 2024-2032?
3. What has been the impact of COVID-19 on the global plastomer market?
4. What are the key factors driving the global plastomer market?
5. What is the breakup of the global plastomer market based on the application?
6. What are the key regions in the global plastomer market?
7. Who are the key players/companies in the global plastomer market?
Plastomer refers to a specialized polymer that exhibits properties of both elastomers and plastics. It has rubber- and plastic-like elasticity and processability, clarity and gloss-finish. It provides improved impact performance, melt strength and processability when used by itself or with blends and compounds. Plastomers are commonly used in flexible packaging, non-stretch and shrink films, molded and extruded products, wires and cables and foaming products. In comparison to the mixed polymer solutions, they can be converted to mono-material solutions that are both cost-effective and environment-friendly. Owing to this, they find extensive applications across food and beverage, packaging, automotive, polymer modification, wires and cables, agriculture and medical industries.
The steadily increasing product demand from the food packaging industry is one of the key factors driving the growth of the market. Plastomers are majorly used as a sealing and melting polymer as they have low-density and aid in preserving the quality and freshness of the food products, thereby increasing their shelf life. Furthermore, the widespread adoption of controlled plastomers in the production of medical and healthcare products is providing a boost to the market growth. Plastomers are used for manufacturing intravenous (IV) bags, continuous ambulatory peritoneal dialysis pouches, pharmaceutical ingredient bags and packaging for bioreactors.
They exhibit high packaging integrity even at low temperatures and can avoid damage in case of accidental drops. Additionally, various product innovations and the utilization of plastomers to manufacture gaskets, seals, vibration dampening and impact absorption products, acoustical sound insulation systems, cushioning, seating and hydrophobic and hydrophilic foams, are also contributing to the market growth.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global plastomer market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on application and processing method.Breakup by Application:
- Film-based Food Packaging
- Film-based Non-food Packaging
- Stretch-film and Shrink-film Packaging
- Automotive
- Polymer Modification
- Wires and Cables
- Medical
- Others
Breakup by Processing Method:
- Blow Film Extrusion
- Cast Film Extrusion
- Extrusion Coating
- Injection Molding
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Alpha Group, Borealis AG, Exxon Mobil Corporation, LG Chem Ltd., Mitsui Chemicals Inc., Saudi Basic Industries Corporation (SABIC), SK Group, Sumitomo Corporation, The DOW Chemical Company, etc.Key Questions Answered in This Report
1. What was the size of the global plastomer market in 2023?2. What is the expected growth rate of the global plastomer market during 2024-2032?
3. What has been the impact of COVID-19 on the global plastomer market?
4. What are the key factors driving the global plastomer market?
5. What is the breakup of the global plastomer market based on the application?
6. What are the key regions in the global plastomer market?
7. Who are the key players/companies in the global plastomer market?
Table of Contents
1 Preface3 Executive Summary10 Value Chain Analysis12 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Plastomer Market
6 Market Breakup by Application
7 Market Breakup by Processing Method
8 Market Breakup by Region
9 SWOT Analysis
11 Porters Five Forces Analysis
13 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Alpha Group
- Borealis AG
- Exxon Mobil Corporation
- LG Chem Ltd.
- Mitsui Chemicals Inc.
- Saudi Basic Industries Corporation (SABIC)
- SK Group
- Sumitomo Corporation
- The DOW Chemical Company
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 148 |
| Published | August 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 4.5 Billion |
| Forecasted Market Value ( USD | $ 7.7 Billion |
| Compound Annual Growth Rate | 6.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
