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The global plastomer market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 6% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
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.
Breakup by Application:
Breakup by Processing Method:
Breakup by Region:
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.
|Base Year of the Analysis||2020|
|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|
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