Global Plastomers Market: Overview
Plastomers are polymers with combined properties of elastomers or rubbers and plastics. These flexible materials offer properties such as excellent clarity, gloss, and elasticity, and are often preferred over a variety of polymers in a vast set of packaging applications. Plastomers are also often utilized as polymer modifiers owing to the improved durability, flexibility, and impact strength they offer to the final product. In the past few years, plastomers have witnessed a vast rise in popularity as compared to conventional polymers in a number of applications, thus fueling their global demand.
The report projects that the market will expand at a promising pace in the next few years. The vast rise in demand for a variety of plastomers across end-use industries, fast paced industrialization across emerging economies, and the thriving packaging industry are all working in favor of the global plastomers market. However, fluctuating costs of raw materials and the implementation of stringent environment protection norms could hamper the overall development of the market to a certain extent.
Global Plastomers Market: Segmentation
To present a more detailed assessment of every facet of the market, it has been segmented on the basis of criteria such as technology, product type, application, and geography.
On the basis of type, the market has been segmented into ethylene vinyl acetate (EVA) plastomers, polyethylene (PE) plastomers, and polypropylene (PP) plastomers. Of these, the PE and EVA varieties are the most popular ones and contribute a large portion in the overall revenue of the global plastomers market. High demand across polymer modification and construction applications is expected to help these segments witness healthy rise in demand over the forecast period as well.
The polypropylene segment is benefitting from the increased demand for flexible thermoplastic olefins and sound deadening sheets in the automotive sector. Moreover, the unique properties of polypropylene plastomers as compared to conventional polymers make them suitable for use across a variety of crack-resistant packaging products, wire and cables, and high-impact consumer goods.
Based on application, the market for plastomers gain massively from the packaging industry. Other lucrative end-use industries include automotive, construction, polymer modification, electrical, and medical. The packaging industry is expected to emerge as the leading revenue generator over the report’s forecast period owing to the vast usage of plastomers in shrink films, stretch films, food packaging films, and non-food packaging films.
Global Plastomers Market: Regional Overview
Geographically, the report assesses the plastomers market across regions such as Latin America, North America, Europe, Asia Pacific, and Middle East & Africa. The market in Asia Pacific is considered highly lucrative owing to the positive development of industries such as automotive, agriculture, consumer goods, packaging, and polymer modification in the past few years. Over the report’s forecast period as well, the market for plastomers in the region is expected to expand a promising pace as rising population and increasing disposable incomes are expected to fare well for the above mentioned industries, which could, in turn, fuel the uptake of plastomers. The market in Europe is expected to exhibit a significant pace of expansion over the forecast period owing to increased focus and rising R&D activities in the packaging sector.
Global Plastomers Market: Competitive Dynamics
The report presents a comprehensive assessment of the competitive dynamics of the global plastomers market, covering data pertaining to recent developments and business profiles of some of the leading companies in the market. Some of the leading players operating in the global plastomers market profiled in the report are The Dow Chemical Company (U.S.), Saudi Basic Industries Limited (SABIC) (Saudi Arabia), Sumitomo Corporation (Japan), Plastomer Corporation (U.S.), Mitsui Chemicals (Japan), LG Chem Limited (South Korea), SK Group (South Korea), Borealis AG (Austria), Alpha Group (India), and ExxonMobil (the U.S.).
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.