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Plastomer Market Report by Application (Film-based Food Packaging, Film-based Non-food Packaging, Stretch-film and Shrink-film Packaging, Automotive, Polymer Modification, Wires and Cables, Medical, and Others), Processing Method (Blow Film Extrusion, Cast Film Extrusion, Extrusion Coating, Injection Molding, and Others), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A2282
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Market Overview 2024-2032:
The global plastomer market size reached US$ 4.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 7.7 Billion by 2032, exhibiting a growth rate (CAGR) of 6% during 2024-2032.
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Report Attribute
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Key Statistics
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|---|---|
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Base Year
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2023
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Forecast Years
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2024-2032
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Historical Years
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2018-2023
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| Market Size in 2023 | US$ 4.5 Billion |
| Market Forecast in 2032 | US$ 7.7 Billion |
| Market Growth Rate (2024-2032) | 6% |
Plastomer refers to a specialized polymer that exhibits properties of both elastomers and plastics. It has rubber- and plastic-like elasticity and processability, clarity and gloss-finish. It provides improved impact performance, melt strength and processability when used by itself or with blends and compounds. Plastomers are commonly used in flexible packaging, non-stretch and shrink films, molded and extruded products, wires and cables and foaming products. In comparison to the mixed polymer solutions, they can be converted to mono-material solutions that are both cost-effective and environment-friendly. Owing to this, they find extensive applications across food and beverage, packaging, automotive, polymer modification, wires and cables, agriculture and medical industries.
The steadily increasing product demand from the food packaging industry is one of the key factors driving the growth of the market. Plastomers are majorly used as a sealing and melting polymer as they have low-density and aid in preserving the quality and freshness of the food products, thereby increasing their shelf life. Furthermore, the widespread adoption of controlled plastomers in the production of medical and healthcare products is providing a boost to the market growth. Plastomers are used for manufacturing intravenous (IV) bags, continuous ambulatory peritoneal dialysis pouches, pharmaceutical ingredient bags and packaging for bioreactors. They exhibit high packaging integrity even at low temperatures and can avoid damage in case of accidental drops. Additionally, various product innovations and the utilization of plastomers to manufacture gaskets, seals, vibration dampening and impact absorption products, acoustical sound insulation systems, cushioning, seating and hydrophobic and hydrophilic foams, are also contributing to the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global plastomer market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on application and processing method.
Breakup by Application:
- Film-based Food Packaging
- Film-based Non-food Packaging
- Stretch-film and Shrink-film Packaging
- Automotive
- Polymer Modification
- Wires and Cables
- Medical
- Others
Breakup by Processing Method:
- Blow Film Extrusion
- Cast Film Extrusion
- Extrusion Coating
- Injection Molding
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Alpha Group, Borealis AG, Exxon Mobil Corporation, LG Chem Ltd., Mitsui Chemicals Inc., Saudi Basic Industries Corporation (SABIC), SK Group, Sumitomo Corporation, The DOW Chemical Company, etc.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Billion |
| Segment Coverage | Application, Processing Method, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | Alpha Group, Borealis AG, Exxon Mobil Corporation, LG Chem Ltd., Mitsui Chemicals Inc., Saudi Basic Industries Corporation (SABIC), SK Group, Sumitomo Corporation and The DOW Chemical Company, etc. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global plastomer market was valued at US$ 4.5 Billion in 2023.
We expect the global plastomer market to exhibit a CAGR of 6% during 2024-2032.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of various end-use industries for plastomers.
The rising adoption of sealing and melting polymers, as they have low -density and aid in preserving the quality and freshness of food products, while increasing their shelf- life, is primarily driving the global plastomer market.
Based on the application, the global plastomer market can be bifurcated into film-based food packaging, film-based non-food packaging, stretch-film and shrink-film packaging, automotive, polymer modification, wires and cables, medical, and others. Currently, film-based food packaging exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where Asia Pacific currently dominates the global market.
Some of the major players in the global plastomer market include Alpha Group, Borealis AG, Exxon Mobil Corporation, LG Chem Ltd., Mitsui Chemicals Inc., Saudi Basic Industries Corporation (SABIC), SK Group, Sumitomo Corporation, The DOW Chemical Company, etc.
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