Menu ×

CHEMICALS AND ADVANCED MATERIALS

Rotomolding Market Analysis by Rotational Molding Machine (Carousel, Clamshell, Rock & Roll, Shuttle, and Up & Over); by Type (Compound and Natural Utilization); by Application (Carts & Carrier, Drums & Bins, Tanks & Containers, and Others); and by End-User Industry (Agriculture, Automotive, Chemical, Food & Beverage, Homecare, Pharmaceutical, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

  • Text Size:

Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

Request Insights

Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

Read More

IN THE NEWS

  • 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.  

Global Rotomolding Market Size, Forecast, and Trend Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~6%

The global rotomolding market is estimated to garner noteworthy revenue by the end of 2033 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2033. Further, the market generated remarkable revenue in the year 2022. The growth of the market can primarily be attributed to the skyrocketing sales of the rotational molding machine. 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.

Rotomolding-Market-Size

Get more information on this report: Request Sample PDF

Global rotomolding market trends such as, escalation in the rotomolding demand in the automotive industry and higher requirement 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.

Global Rotomolding Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Demand 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.

  • Significant Increment in the Plastic Production

As of 2020, the total production of plastic across the globe was anticipated to be around 350 million metric tons.

Rotomolding technology is highly used in plastic production and with the product made with plastics. The most common type of plastic used in rotomolding is polyethylene making up around 95% of the rotationally molded plastic products. Thereby, such utilization of rotomolding in pastic production is expected to push the market growth over the forecast period.

  • Rising Demand in the Edible Grocery Segment  

The sale of edible groceries amounted to approximately USD 2.5 trillion 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

  • Requirement for Higher Initial Investment
  • Constant Need for Costly Maintenance
  • Disrupted Supply-Chain due to COVID-19

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 which, the rock & roll segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the higher utilization of these machines in the production of cooler and other sort of tanks. 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.

Major Macro-Economic Indicators Impacting the Market Growth

https://www.researchnester.com/admin/report_image/Major-Macro-Economic-Indicators-Impacting-the-Market-Growth.jpg

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, the Chemical industry in the U.S. accounted for 16.43% of manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in the future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, which accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. The easy availability of low-cost raw materials & labor, as well as government subsidies and relaxed environmental norms, have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for investment in businesses in Asia Pacific countries in the upcoming years.

Global Rotomolding Market Regional Synopsis

Regionally, the global rotomolding market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific reign is projected to hold the largest market share by the end of 2033. The growth of the market in the region is ascribed 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 and exponential growth in the regional population are also estimated to hike the growth of the market during the forecast period.

Rotomolding-Market

The global rotomolding market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global rotomolding market includes the following segments:

By Rotational Molding Machine

  • Carousel
  • Clamshell
  • Rock & Roll
  • Shuttle
  • Up & Over

By Type

  • Compound
  • Natural Utilization

By Application

  • Carts & Carrier
  • Drums & Bins
  • Tanks & Containers
  • Others

By End-User Industry

  • Agriculture
  • Automotive
  • Chemical
  • Food & Beverage
  • Homecare
  • Pharmaceutical
  • Others

Top Featured Companies Dominating the Global Rotomolding Market

  • Myers Industries, Inc.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Ocean Plastic Intertrade Co., Ltd.
  • A.G. Industries Pvt. Ltd.
  • Rototek Limited
  • Top Rotomolding Technology Co., Ltd
  • Ningbo Fly Plastic Co., Ltd.
  • Yantai Fangda Rotational Molding Co.,Ltd 
  • DUTCHLAND Quality Rotomolding Solutions
  • Cosmo Corporation Co., LTD.
  • Charloma, Inc.

 

FREQUENTLY ASKED QUESTIONS


Related Reports


Disclaimer | Privacy Policy | Terms & Conditions | LOB

Copyright © 2022 Research Nester. All Rights Reserved