Asia Pacific rotomoulding powder market from high-density polyethylene material segment is expected to showcase notable growth rate of more than 18% over the forecast timespan. Key material properties, including good moisture and chemical resistance, high rigidness, and low-cost are fueling product sales in packaging industry. Increasing Foreign direct investments (FDI) in the region are supporting adoption of new technologies in cold chain, warehousing and packaging, which may drive the demand for rotomoulding. The packaging industry is expanding rapidly across the APAC region, accounting for the maximum plastic consumption, which may boost Asia Pacific rotomoulding powder market size.
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From application in tanks, Asia Pacific rotomoulding powder market size is estimated to generate a revenue of over USD 3 billion through 2024. Increasing severity of the issue of water scarcity in Philippines, Vietnam, India, and other Asian countries is generating steady demand for easily installable, durable, low-cost, light-weight storage tanks, which is expected to accelerate demand for rotomoulding powder. Moreover, rising preference for economical and hygienic option to store water in the rural areas for prolonged periods will further boost product sales.
Increased need for advanced automotive solutions due to the rise in purchasing power among people is a vital factor propelling development in Asia Pacific rotomoulding powder market. The region witnesses a wide presence of automobile companies like Hyundai, Honda, Tata Motors, Kia and Hero, driving the demand for the process across the industry.
Asia Pacific rotomoulding powder market outlook is likely to be driven by wide-ranging product application across various industries, including commercial, industrial, construction, etc. Due to unique attributes, such as superior molding efficiency, easy handling, and light weight, these powders are widely utilized in the manufacture of storage tanks and containers.
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In automobile applications, rotational moulding powder is used in a variety of components such as diesel fuel tanks, mudguards, bumpers, toolboxes, door trims, and interior panels. UV resistance and flame retardant are two main characteristics of the product supporting its application in the automotive industry.
APAC rotomoulding powder market is characterized with the presence of a number of established manufacturers. Alongside, the industry has been witnessing the influx of various emerging players, which is likely to create a fierce competitive business environment. Prominent industry participants include SCG Chemicals. Co., Ltd, LyondellBasell, Dalian Bona Biological Technology Co., Ltd. and Reliance Industries Limited. Manufacturers in the industry are developing strong relationship with other participants in value chain in order to tackle sourcing requirements and maximize output.
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