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Rotomolding Market Projected to Reach US$ 5.9 Billion by 2031, Growing at a 5.9% CAGR Amid Expanding Applications and Innovations - Transparency Market Research, Inc.

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Transparency Market Research

05 Aug, 2024, 14:15 GMT

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In 2023, the U.S. Environmental Protection Agency (EPA) directed Inhance Technologies LLC, a company specializing in plastics and chemicals, to halt the production of per- and polyfluoroalkyl substances (PFAS).

WILMINGTON, Del., Aug. 5, 2024 /PRNewswire/ -- Limitations on PFAS production are a positive sign for the demand for rotomolded fuel tanks made of acetal. The global rotomolding market was valued at US$ 5.0 Bn in 2022. It is estimated to grow at a CAGR of 5.9% from 2023 to 2031 and reach US$ 5.9 Bn by the end of 2031, according to Transparency Market Research (TMR), a leading global market research company.  

Rotomolding Market Key Insights

  • Surge in focus on rubber and plastic recycling augmenting demand for rotational molding
  • Growth in preference for biocomposites boosting the adoption of rotomolding
  • Rotational molded acetal fuel tanks gaining traction due to stringent environmental regulations

Request for sample copy of report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=69095

  • Environmental Concerns Regarding Plastic and Rubber Pollution Propelling Market Progress

Today, plastics and rubbers are widely used in different applications, including toys, clothing, shoes, and household appliances. However, most plastics and rubbers are not completely recycled after the end of their service life.

Increase in environmental concerns has led to various efforts undertaken to develop tire recycling methods. These efforts are expected to spur the rotomolding market growth in the near future.

Rotational molding involves melting and reshaping plastic or rubber materials to create new products. It can be employed to produce thermoplastic elastomers using regenerated and non-regenerated off-the-road ground tire rubber.

Biocomposites are gaining popularity in the plastic market as environmentally friendly alternatives. Rotational molding can be utilized to produce microalgae biomass-based composites. Environmental issues associated with the use of plastic composites have led to a high demand for biocomposites, which is driving the rotomolding market dynamics. 

  • High Demand for Rotational Molded Acetal Fuel Tanks

Rotomolded fuel tanks made of acetal are a highly viable alternative to fluorinated fuel tanks. Acetal, an organic compound commonly used as an alternative to metals, has been employed in injection-molded fuel tanks. Vendors in the plastic sector have developed new rotomolding grades that incorporate additive packages that raise heat performance.

Rotational molded acetal fuel tanks provide single-layer barrier protection that meets EPA requirements. With companies in industrial and manufacturing sectors focused on adhering to stringent environmental regulations, the rotomolding market demand is expected to remain strong in the near future.    

Unlock Growth Potential in Your Industry! Download PDF Brochure: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=69095

Rotomolding Market Regional Insights

  • Growth in EV adoption offering lucrative opportunities for vendors in Asia Pacific

Asia Pacific accounted for the largest market share in 2022. The region is projected to maintain its dominance during the forecast period. Rotomolded plastics are significantly used to manufacture electric vehicles (EVs). China is experiencing rapid growth in the production and adoption of EVs and lightweight automobiles. This, in turn, is fueling the rotomolding market revenue in Asia Pacific.

According to the International Energy Agency (IEA), nearly 1.9 million electric cars were sold in China from January 2024 to March 2024, recording an almost 35% increase compared to sales in the first quarter of 2023. Moreover, in March 2024, New Energy Vehicle (NEV) sales in the country exceeded a share of 40% in overall car sales for the first time, as per the China Passenger Car Association

Leading Players in Rotomolding Industry

Charloma Inc., Rotoplast SAS, PartnerPlast Group, Carris Pipes & Tubes Private Limited, Dutchland Plastics, Fixopan, Roto Dynamics Inc., Sherman Roto Tank, Rototek Limited, and Elkhart Plastics, Inc. are key companies operating in this industry.

Key Strategies by Rotomolding Market Players   

  • Major focus on brand consolidation
  • Investment in the expansion of manufacturing capabilities to cater to the growth in demand in developing economies

Major rotomolding vendors are consolidating their various brands to provide a broader range of products and align commercial and residential product lines into one integrated platform. These strategies are likely to help companies serve customer needs more efficiently.

Vendors are also expanding their manufacturing capabilities to increase their rotomolding market share. This can be ascribed to the rise in the adoption of plastic rotomolding biaxial machines in several plastic applications.

Rotational molded solutions providers are seeking to broaden their presence in developing markets of China and India. They are expanding their capabilities of specialized products, especially for agricultural, industrial, and commercial industries in these countries.

Rotomolding Market Report Scope:

Report Coverage

Details 

Forecast Period  

2023-2031

Base Year  

2018-2021

Size in 2023

US$ 5.0 Bn

Forecast (Value) in 2034

US$ 5.9 Bn

Growth Rate (CAGR) 

5.9 %

No. of Pages 

399 Pages 

Segments covered 

By Material, By Form, By End-use, By Region

Market Segmentation

Material

  • Polyethylene
    • Cross-linked Polyethylene
    • Low-density Polyethylene
    • Linear Low-density Polyethylene
    • High-density Polyethylene
    • Others
  • Others
    • Polycarbonate
    • Nylon
    • PVC
    • Polypropylene
    • Others

Form

  • Compound
  • Resin

End-use

  • Building & Construction
    • Water Tanks
    • Pipes
    • Others
  • Automotive & Transportation
    • Automotive Parts
    • Transportation
  • Packaging
    • Ice Boxes
    • Containers
    • Chemical Tanks
  • Agriculture
  • Sports & Leisure
  • Toys & Playgrounds

Buy this Premium Research Report: https://www.transparencymarketresearch.com/checkout.php?rep_id=69095&ltype=S

More Trending Reports by Transparency Market Research –

  • Biocomposites Market Outlook 2031
    The global biocomposites market is poised for substantial growth, with projections indicating an increase from US$ 24.6 billion in 2022 to US$ 75.0 billion by 2031. This impressive trajectory, marked by a compound annual growth rate (CAGR) of 13.2% from 2023 to 2031.
  • Lithium Market Outlook 2031
    The lithium market is expected to experience even more rapid expansion, with forecasts suggesting growth from US$ 9.3 billion in 2022 to US$ 32.2 billion by 2031, driven by a CAGR of 14.8%.
  • Textile Enzymes Market Outlook 2031
    The textile enzymes market presents a more moderate growth outlook. Valued at US$ 545.7 million in 2022, it is anticipated to reach US$ 876.0 million by 2031, growing at a CAGR of 5.4%.
  • North America Sustainable Polymers Market Outlook 2031
    The North America sustainable polymers market showcases promising growth potential, with projections indicating an increase from US$ 28.2 billion in 2022 to US$ 59.0 billion by 2031, at a CAGR of 8.6%.

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact:

Transparency Market Research Inc.
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1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com   
Email: sales@transparencymarketresearch.com
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