Rotomolding Market size is expected to cross USD 9 Billion by the end of 2033, growing at a CAGR of 6% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of rotomolding was USD 5 Billion. The growth of the market can be attributed to the skyrocketing sales of the rotational molding machine, less price, rising popularity during the Coronavirus, and improving the production process and work environment that help to hold the operatives of the plant. For instance, the total units of rotational molding machines sold worldwide were anticipated to be about 10,000 in 2022 which is further expected to reach around 30,000 by the year 2029.
Global rotomolding market trends such as escalation in the rotomolding demand in the automotive industry and higher requirements for drums containers and tanks are projected to influence the growth of the market positively over the forecast period. For instance, the sales of automobiles were anticipated to drop to around 65 million units in 2021. Rotomolding, also referred to as rotational molding, is a technology that is mainly used to make parts with high-quality stability and finishes. Hence, all these facts are expected to propel the growth of the market over the forecast period.
Growth Drivers
Significant Increment in Plastic Production as Use of Plastic is Increasing - As of 2020, the total production of plastic across the globe was anticipated to be around 350 million metric tons.
Growing Demand for the Product in the Working Plastic Material Products Industry - The total revenue generated by the plastic material products industry was estimated to be approximately USD 150 million in 2022 and is anticipated to hit nearly USD 190 million by the year 2025 solely in Brazil.
Rising Demand for the Product in the Edible Grocery Segment Owing to Increasing Purchase of Food Products - The sale of edible groceries amounted to approximately USD 2.5 trillion across the globe in 2021 and is estimated to reach around USD 550 billion by the year 2026.
Increasing Utilization of Rotomolding Machines in Agriculture - As of 2022, the total agricultural export value was anticipated to reach USD 150 billion while the agricultural import was estimated to be nearly USD 160 billion for the USA.
Spiking R&D Spending in Pharmaceuticals to Boost the Demand for Rotomolding - The research and development spending on pharmaceuticals amounted to approximately USD 180 billion across the globe in 2020.
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~6% |
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Base Year Market Size (2022) |
~USD 5 Billion |
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Forecast Year Market Size (2033) |
~USD 9 Billion |
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Regional Scope |
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Rotational Molding Machine (Carousel, Clamshell, Rock & Roll, Shuttle, Up & Over)
The global rotomolding market is segmented and analyzed for demand and supply by rotational molding machine into carousel, clamshell, rock & roll, shuttle, and up & over. Out of these segments, the rock & roll segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the higher utilization of these machines in the production of cooler and other sort of tanks. Rotomolding in cooler is used for ice retention and they are most suitable for withstanding long-term use. Therefore, rotomolded coolers becomes durable and considered to be hard-sided ice chests. As of 2022, approximately 30 million units of the cooler were produced across the globe which is further anticipated to reach nearly 45 million by the year 2026.
End-user (Agriculture, Automotive, Chemical, Food & Beverage, Homecare, Pharmaceutical)
The global rotomolding market is also segmented and analyzed for demand and supply by end-user industry into automotive, chemical, food & beverage, homecare, pharmaceutical, and others. amongst these segments, the automotive segment is expected to garner a significant share. Rotomolding is highly used in the automotive industry to manufacture robust and durable automotive parts. The process of rotomolding includes a heated hollow mold filled with material and then it is rotated to soften the material for easy disperse and take the desired shape by sticking to the walls of the mold. Hence, as the production of vehicle rises, the demand for rotomolding in automotive industry also escalates. For instance, in 2021, nearly 80 million unite of motor vehicles were produces across the globe.
Our in-depth analysis of the global market includes the following segments:
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By Rotational Molding Machine |
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By Type |
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By Application |
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By End-User Industry |
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APAC Market Statistics
The Asia Pacific rotomolding market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed majorly to the skyrocketing demand for houses owing to the rising process of urbanization and the significant surge in infrastructure development projects. According to the report published by the World Bank, East Asia, and the Pacific are referred to as the world’s most rapidly urbanizing regions with an urbanization rate of 3% per year while in 2018, half of the population of the reign was projected to be living in urban areas. Furthermore, expanding construction industry along with the automotive industry are also estimated to hike the growth of the market during the forecast period. Asia Pacific is known to dominate the global automotive industry since in countries like China, Japan, and India, automotive parts are manufactured and exported across the globe. For instance, in 2021, approximately 5 million commercial vehicles were produced in China alone while in Japan, nearly 1.5 million commercial vehicles were produced in the same year. Therefore, all these factors are expected to enlarge the market size over the forecast period.
Myers Industries, Inc. to state that it has now accelerated production capacities after the acquisition of a rotational molding facility based in Georgia. The facility acquired by Myers Industries, Inc. is Step2 Co, LLC, which facilitated the company to impose molding capabilities in the United States.
DUTCHLAND Quality Rotomolding Solutions to receive #4 custom rotational molder. The title was given among the top rotational molder by a newly launched PlasticsNews2020 Rotational Molder Ranking Report in North America.
Author Credits: Smruti Ranjan, Rajrani Baghel
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