Rotomoulding powder market to amass substantial returns from automotive applications, shifting focus of automakers for increasing fuel efficiency to propel the product demand
Publisher : Fractovia | Published Date : 2018-08-30Request Sample
The extensive use of the rotomoulding process across the expanding automotive and construction sectors is certain to drive rotomoulding powder market trends over the ensuing years. As of now, rotomoulding is one of the best-known processes for manufacturing bins, tanks, and highly aesthetic and complex medical products. This is primarily on account of the method’s ability to produce rotomoulded parts with the benefits such as superior strength, corrosion resistance, durability, cost-effectiveness, and shorter production time.
North America Rotomoulding Powder Market, By Product, 2017 & 2024 (Kilo Tons)
The growing awareness among the end-users about the benefits of weight reduction is a major factor propelling rotomoulding powder market share, especially across the automotive and medical equipment manufacturing sectors. In accordance, these end-users have attempted to shift focus toward the production of plastics parts, that would favorably impel rotomoulding powder industry share over the years ahead.
Lately, the increasing concerns over the rise in carbon content in the environment have led to most automakers looking forward to increasing the number of plastic components in the vehicle that could lead to an upsurge in vehicle efficiency and decrease in carbon dioxide emissions. In addition, rotomoulded plastic parts have the ability to develop complex geometries with greater design flexibility. In the recently developed automobiles, plastics have been used in many interior and exterior components including headlights, bumpers, safety windows, trunk lids, wheel covers, doors, side view mirrorhousing, grills, and hoods. Driven by the rise in automotive sales across the globe, rotomoulding powder industry size from automotive applications will grow at an annual growth rate of above 17% over 2018-2024.
Speaking along the same line, in order to incorporate automotive parts with remarkable characteristics such as high performance, toughness, corrosion resistance, durability, and design flexibility, automakers are giving preference for different plastic materials. Though there are nearly 13 types of polymers that are used in different types of vehicle parts, polyurethane, polypropylene, and PVC account for more than 65% of total plastic used in the vehicle. Some of the most essential properties of these materials and their applications are enlisted below:
|
Sr. No |
Plastic material |
Characteristics |
Application |
|
1 |
Polypropylene (PP) |
Excellent chemical resistance High UV resistance Impervious to water |
Bumpers, chemical tanks, battery boxes, carpet fibers, cable insulation, petrol cans, and bottles |
|
2 |
Polyurethane (PUR) |
Durability High flexibility High resilience |
Wheels, tires, foam seating, suspension bushing, cushions, electric potting compounds, gaskets |
|
3 |
Poly-vinyl-chloride (PVC) |
Chemical inertness High tensile strength |
Automotive instrument panels, pipes, doors, chemical tanks, and sheathing of electrical cables |
Table 1: Different types of rotomoulding plastic powders and application scope
In-line with the increasing use of plastic parts in automobile applications, leading rotomoulding powder industry contenders including BASF, Borealis AG, and GE plastics have been investing in research and development activities to manufacture materials with eco-friendly properties. The development of biodegradable plastics and lighted PP are some examples depicting the efforts of industry giants toward augmenting the commercialization graph of rotomoulding powder industry. With the automotive industry becoming more competitive by the day, PP products are likely to witness a huge demand due to their excellent mechanical properties, good abrasion resistance, and lower shrinkage. The ever-increasing PP demand will also favorably propel rotomoulding powder market size over the years ahead.
The efforts of prominent players toward the growth of rotomoulding powder industry is indeed remarkable. Having recognized that the increasing production of rotomolded components will quite overtly lead to a surge in the requirement of plastic powder, rotomoulding component manufacturers have been planning to expand the business across several geographies that would generate growth opportunities for the players in rotomoulding powder market. For instance, the leading supplier and manufacturer of rotomoulded plastic fixtures and equipment, Forte Products has recently acquired Charloma Inc which is one of the renowned manufacturers of rotational molding components for automotive, construction, and packaging industries. The merger of the two companies is likely to lead to the enhancement of customer services, strengthening the positions of the both the firms across the globe.
The increasing adoption of rotomoulded components across several end-use industries will enhance the product demand in the years ahead. The remarkable benefits offered by rotomolded parts will also have significant influence on the future industry trends. As per estimates, by the end of 2024, rotomoulding powder market will surpass a revenue collection of USD 29 billion.
