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Global Plastomer Market Size, Segmentation, Opportunities, Trends, Growth and Industry Forecast To 2022

The worldwide plastomer market is predicted to touch the 6.5029 billion US dollar mark byd of the year 2022. The market is expected to grow at a CAGR rate of 7.2% during the forecasted period. The raw materials for Plastomer comprise natural gas. Polyolefins are generated by polymerization in which the short-chain hydrocarbons are polymerized in the presence of catalysts to produce long-chain polymers. The value chain of the global plastomer market begins through the supply of primary raw materials.

 

The value chain comprises the production of elastomers and the delivery of the items for end-user applications. Therefore, the worldwide plastomer market is bifurcated based on applications and geographical regions.

 

The worldwide plastomer market by applications includes stretch & shrink films, film food packaging, polymer modifications, film nonfood packaging, wires & cables, medical, automobiles, and other uses & applications in industrial liners, artificial turf, agricultural section, and items used for recreational purpose depending upon their specific functionalities.

 

The rising popularity and use of elastomers over traditional polymers in different applications and uses play a pivotal role in stimulating the growth of the worldwide plastomer market. Polymer modifications, packaging, and automobiles are the most vital uses and applications of Plastomer.

 

The packaging section is the critical revenue provider of the worldwide plastomer market. This is because packaging applications like stretch & shrink films and food & nonfood products contributed the largest share to the total market share of the worldwide plastomer market during the year 2014. Furthermore, high-quality packaging also maintains the freshness and quality of food & beverages along with enhancement of the life shelf of these food & beverages segments. As a result, the packaging segment is emerging at a constant rate worldwide, with developing economies experiencing a high market growth potential.

 

The worldwide plastomer market by geographical regions includes the subcontinent of North America, the European continent, the Asia Pacific region, and the rest of the world.In 2015, the sub-continent of North America was predicted to contribute the largest market share of the worldwide plastomer market in terms of size.

The heavy demand for Plastomer in the Asia Pacific region is projected to be the critical factor driving the development and expansion of the worldwide plastomer market in this region.

 

The growth of the elastomer industry in the region of Asia Pacific can be attributed to some of the factors like recent developments & breakthroughs observed in the packaging sector, automobile industry, polymer modification sector, and various other fields like industrial liners, agricultural sector, items used for recreation purpose and artificial turf in which customers are used based on their explicit/particular functionalities. The country of China, which belongs to the Asia Pacific region, is one of the dominant markets of customers all across the globe. The plastomer market in other developing countries like Mexico and India is also anticipated to display fast growth in the future.

 

Among all these regions, the Asia Pacific region and the rest of the world are anticipated to observe high market growth and expansion. The demand for customers in these regions is supported by evolving economies like India, Brazil, China, and Mexico.

 

Thus it can be summarized that the growth and expansion of the elastomer market worldwide can be attributed to the factors like growing customer demand in evolving economies and high demand for customers from the packaging sector.

 

Key industry players included in the global Plastomer market are as follows:

  • The Dow Chemical Company
  • Sumitomo Corporation
  • Borealis AG
  • LG Chemicals Limited
  • Plastomer Corporation
  • Mitsui Chemicals
  • ExxonMobil
  • Saudi Basic Industries Limited
  • SK Group
  • Alpha Group

Frequently Asked Questions

The market for Plastomer is expected to reach USD 6.5029 billion in 2028.

The Plastomer market is expected to see significant CAGR growth over the coming years, at 7.2%.

The report is forcasted to 2022.

The base year of this report is 2021.

The Dow Chemical Company, Sumitomo Corporation, Borealis AG, LG Chemicals Limited, Plastomer Corporation, Mitsui Chemicals, ExxonMobil, Saudi Basic Industries Limited are some of the major players in the global market.

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Published Date:  Mar 2016
Category:  Chemicals
Report ID:   57735
Report Format:   PDF
Pages:   120
Rating:    4.3 (55)
Delivery Time: 24 Hours to 48 Hours   
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