PUNE, India, January 25, 2016 /PRNewswire/ --
The report "Plastomers Market by Application (Film-Food Packaging, Film-Non-Food Packaging, Film-Stretch & Shrink Film, Automotive, Wires & Cables, Polymer Modification, Medical and Others) and Region (Asia-Pacific, North America, Europe and Row) - Global Forecast to 2020", published by MarketsandMarkets, The market size is estimated to grow from USD 3.73 Billion in 2015 to USD 5.33 Billion by 2020, at a CAGR of 7.4% between 2015 and 2020.
Browse 73 market data Tables and 40 Figures spread through 124 Pages and in-depth TOC on "Plastomers Market"
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The market is driven by increasing demand for plastomer products in emerging markets and high demand from the packaging industry. Among all regions considered, Asia-Pacific and RoW are projected to witness high growth in the next five years. The demand in these regions is supported by emerging markets such as China, India, Brazil, and Mexico.
Packaging is the largest application of plastomers
The growing popularity of plastomers over conventional polymers in various applications plays a significant role in driving the market. Packaging, automotive, and polymer modification are the most important applications of plastomers. The packaging industry is the major revenue contributor of the market, as packaging applications, including food, non-food, and stretch & shrink film, constituted of maximum share of the total market in 2014. High-quality packaging not only improves the shelf life of food and beverages but also maintains their quality and freshness. The packaging industry is growing at steady rate globally, with emerging countries witnessing high growth potential.
Rising demand in Asia-Pacific is a major driver for growth of the plastomers market
In 2015, North America is estimated to account for the largest market share, in terms of volume. However, the robust demand in Asia-Pacific is expected to be the major driving factor for the growth of the global Plastomers Market. The growth is led by the developments in packaging, automotive, polymer modification, and several other areas in which plastomers are used due to their specific operation. China is one of the leading markets of plastomers at the global level. The markets in other emerging economies such as, India, and Mexico are also projected to grow rapidly.
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The players profiled in the plastomers market report are The Dow Chemical Company (U.S.), Saudi Basic Industries Limited (SABIC) (Saudi Arabia), Borealis AG (Austria), Mitsui Chemicals (Japan), LG Chem Limited (South Korea), ExxonMobil (U.S.), Sumitomo Corporation (Japan), SK Group (South Korea), Plastomer Corporation (U.S.), and Alpha Group (India)
The scope of the report covers detailed information regarding the major factors influencing the growth of the plastomers market such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, products & services, key strategies, investments & expansions, mergers & acquisitions, partnerships, agreements, collaborations, and recent developments associated with the market.
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