Plastomer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Plastomer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112024A2282
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Market Overview 2023-2028:

The global plastomer market size reached US$ 4.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.2 Billion by 2028, exhibiting a growth rate (CAGR) of 6.8% during 2023-2028.

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.

Global-Plastomer-Market

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 2023-2028. 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 2022
Historical Period 2017-2022
Forecast Period 2023-2028
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
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
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)

Key Questions Answered in This Report

The global plastomer market was valued at US$ 4.2 Billion in 2022.

We expect the global plastomer market to exhibit a CAGR of 6.8% during 2023-2028.

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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Plastomer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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