Rotomolding Market Innovations Boosting Demand, Projected to Grow at 5.9% CAGR by 2031 | TMR
Vendors in the global rotomolding industry are investing significantly in R&D of new products to broaden their revenue streams.
WILMINGTON, DE, UNITED STATES, December 21, 2024 /EINPresswire.com/ -- The global Rotomolding Market, valued at USD 5.0 billion in 2022, is projected to expand at a CAGR of 5.9% from 2023 to 2031. This growth is expected to drive the market's valuation to USD 5.9 billion by the end of 2031, reflecting increasing demand across various applications and advancements in manufacturing processes.
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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
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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.
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.
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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
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