PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1616691
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1616691
Plastomers Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 - 2032
The Global Plastomers Market reached a valuation of USD 2.75 billion in 2023 and is anticipated to grow at a compound annual growth rate (CAGR) of 6.3% from 2024 to 2032. This growth is primarily driven by increasing demand from the food packaging industry, particularly due to the rising population in the Asia Pacific region, which is expected to significantly impact market dynamics during the forecast period. The food and beverage sector is poised for substantial growth, leading to heightened demand for innovative packaging solutions. Rapid advancements in packaging regulations and a surge in the consumption of packaged food are fostering strong research and development investments. These investments are facilitating the creation of new and innovative materials that enhance packaging performance.
Plastomers are particularly well-suited for the food packaging sector due to their excellent properties, including lightweight design, flexibility, chemical resistance, strength, stability, and recyclability. Within the market, the ethylene octene segment is projected to capture USD 1.87 billion and showcase a CAGR of 6.7% by 2032. Ethylene propylene plastomers, recognized for their outstanding elasticity and resistance to aging, hold a dominant position due to their extensive applications in both automotive and packaging industries. Furthermore, ethylene butene plastomers are gaining popularity for their enhanced plasticity and rigidity, making them suitable for requiring applications in the consumer goods sector. Ethylene hexene plastomers are also increasingly adopted for their superior impact resistivity and processability, particularly in packing and medical device applications.
The food packaging segment accounted for 47.4% of the market share in 2023, valued at USD 1.3 billion, and is expected to grow at a CAGR of 6.8% from 2024 to 2032. The unique properties of plastomers, including low-density nature and distinctive sealing and melting behaviors, make them highly effective sealing polymers in food packaging. Their flexibility, strength, and excellent chemical resistance protect food products from contamination and spoilage, reinforcing their desirability in the industry. The Asia Pacific plastomers market is anticipated to reach USD 1.79 billion, with a CAGR of 7% from 2024 to 2032. This growth is attributed to the rapidly expanding food and beverage, pharmaceutical, and personal care sectors, which significantly influence the packaging landscape. Increasing per capita spending, purchasing power, and favorable socio-economic trends are driving the demand for packaged food and personal care products.These developments signal a positive outlook for the food and non-food packaging industries, suggesting promising growth opportunities for the plastomers market.
| Market Scope | |
|---|---|
| Start Year | 2023 |
| Forecast Year | 2024-2032 |
| Start Value | $2.75 Billion |
| Forecast Value | $4.48 Billion |
| CAGR | 6.3% |
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market scope & definition
- 1.2 Base estimates & calculations
- 1.3 Forecast calculation
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid sources
- 1.4.2.2 Public sources
Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.1.1 Key manufacturers
- 3.1.2 Distributors
- 3.1.3 Profit margins across the industry
- 3.2 Industry impact forces
- 3.2.1 Growth drivers
- 3.2.1.1 Strong product demand from medical/healthcare packaging industry
- 3.2.1.2 Rapidly growing food packaging industry
- 3.2.1.3 Rising construction industry worldwide
- 3.2.2 Market challenges
- 3.2.2.1 Fluctuating raw material prices and evolving regulations against polymers
- 3.2.2.2 Penetration of bioplastic films for packaging applications
- 3.2.3 Market opportunity
- 3.2.3.1 New opportunities
- 3.2.3.2 Growth potential analysis
- 3.2.1 Growth drivers
- 3.3 Raw material landscape
- 3.3.1 Manufacturing trends
- 3.3.2 Technology evolution
- 3.3.2.1 Sustainable manufacturing
- 3.3.2.1.1 Green practices
- 3.3.2.1.2 Decarbonization
- 3.3.2.1 Sustainable manufacturing
- 3.3.3 Sustainability in raw materials
- 3.3.4 Pricing trends (USD/Ton), 2021 - 2032
- 3.3.4.1 North America
- 3.3.4.2 Europe
- 3.3.4.3 Asia Pacific
- 3.3.4.4 Latin America
- 3.3.4.5 Middle East & Africa
- 3.4 Regulations & market impact
- 3.5 Porter's analysis
- 3.6 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Company market share analysis
- 4.2 Competitive positioning matrix
- 4.3 Strategic outlook matrix
Chapter 5 Market Size and Forecast, By Product, 2021-2032 (USD Billion, Kilo Tons)
- 5.1 Key trends
- 5.2 Ethylene propylene
- 5.3 Ethylene butene
- 5.4 Ethylene hexene
- 5.5 Ethylene octene
Chapter 6 Market Size and Forecast, By Application, 2021-2032 (USD Billion, Kilo Tons)
- 6.1 Key trends
- 6.2 Adhesives
- 6.3 Compounding foams
- 6.4 Food packaging
- 6.5 Non-food packaging
- 6.6 Wire & Cables
- 6.7 Automotive
- 6.8 Others
Chapter 7 Market Estimates and Forecast, By Region, 2021 - 2032 (USD Billion, Kilo Tons)
- 7.1 Key trends
- 7.2 North America
- 7.2.1 U.S.
- 7.2.2 Canada
- 7.3 Europe
- 7.3.1 Germany
- 7.3.2 UK
- 7.3.3 France
- 7.3.4 Italy
- 7.3.5 Spain
- 7.3.6 Russia
- 7.4 Asia Pacific
- 7.4.1 China
- 7.4.2 India
- 7.4.3 Japan
- 7.4.4 South Korea
- 7.4.5 Australia
- 7.4.6 Malaysia
- 7.5 Latin America
- 7.5.1 Brazil
- 7.5.2 Mexico
- 7.5.3 Argentina
- 7.6 Middle East and Africa
- 7.6.1 South Africa
- 7.6.2 Saudi Arabia
- 7.6.3 UAE
Chapter 8 Company Profiles
- 8.1 Dow Chemical Company
- 8.2 Borealis
- 8.3 ExxonMobil
- 8.4 Royal Dutch Shell
- 8.5 Chevron Phillips Chemical Company
- 8.6 Saudi Basic Industries Corporation (SABIC)
- 8.7 LyondellBasell
- 8.8 Westlake Chemical Corporation
